Talon’s shares rose nearly 17% following the news.
“US leaders are laser-focused on US dependency on critical minerals produced by foreign entities of concern. The discovery of a potential new domestic resource of copper and nickel is very timely,” said CEO Henri van Rooyen.
Talon’s mineral exploration activities in Michigan and Minnesota are funded by the US Department of Defense, which announced in 2023 that it would provide $20.6 million for accelerated exploration in both states.
The company now plans to add more drill holes for further evaluation.
The Boulderdash target is near the Eagle Nickel Mine, owned by Lundin Mining, which is the only operating nickel mine in the United States.
“The distribution and abundance of magmatic sulfides intersected in the initial drilling at Boulderdash bear a striking resemblance to the early drill results from the Eagle deposit,” said Dean Rossell, Chief Exploration Geologist…
