Talon Metals Corp (TSE: TLO) (OTCMKTS: TLOFF) (FRA: TAO0) surged to a 14-year high during Wednesday trading hours after releasing impressive drill results from its Tamarack nickel-copper-cobalt project in Minnesota.
The stock climbed 4.1 per cent to C$9.16 on the Toronto Stock Exchange, pushing the company’s market value to about C$1.4 billion — the highest level since August 2011.
Investors viewed the assays favourably because they revealed high-grade nickel and copper intercepts. The cores confirmed the continuity of mineralization in the Vault Zone and signalled strong potential for resource expansion.
Most significantly, one of the holes hit 15.23 metres grading 7.82 per cent nickel and 7.7 per cent copper beginning at 774 metres downhole. Additionally, this intercept contained 8.77 grams per tonne palladium + platinum and 3.09 g/t gold.
Talon owns 51 per cent of the Tamarack project with an option to increase to 60 per cent. Mining major Rio Tinto Group (NYSE: RIO) (ASX: RIO) holds the remainder.
Located 210 kilometres north of Minneapolis, the project sits near roads, rail and power lines. Talon is advancing it toward production, with a feasibility study due in the first half of 2026 and environmental reviews wrapping up soon.
In recent years, the company has secured substantial United States government funding, including US$20.6 million for exploration and US$114.8 million for a processing plant in North Dakota.
Talon Metals Reports New Assays And Step-Out Drilling Results Extending Vault Zone Mineralization
Highlights
🔵Assay results for drill hole 25TK0563C, drilled 16 meters to the southwest of drill hole 25TK0563, intercepted 15.23 meters starting at 773.86 meters, which assayed… pic.twitter.com/CFBRpJMM62
— CEO Technician (@CEOTechnician) March 11, 2026
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Thicker, more continuous than recent step-outs
These latest results build on assays from a few weeks earlier, which focused on step-outs in the Vault Zone.
On Feb. 4, Talon revealed that it had intercepted 9.6 per cent nickel over 8.85 metres, outperforming some prior intercepts in grade and thickness.
Electromagnetic surveys guide these step-outs, revealing anomalies that suggest the zone remains open for growth.
Compared to historical drilling, like hole 16TK0250 that hit 8.25 metres grading 12.62 per cent nickel in 2016, the new results reveal thick layers of high-grade nickel-copper ore stacked on top of each other, stretching the mineralized zone deeper and farther out.
Shot of the Tamarack project in November. Photo credit: Talon Metals
Talon taps EV boom to pull investors
The junior developer pitches its project as a key future supplier for the electric vehicle surge, highlighting domestic U.S. production of battery metals like nickel.
Talon promotes the fact that it has an offtake agreement with Tesla Inc (NASDAQ: TSLA) (ETR: TL0) for 75,000 tonnes of nickel concentrate, tying directly into EV battery needs. This deal was signed in 2022.
By emphasizing government grants and a compact, eco-friendly mine design, Talon aims to pull investors interested in sustainable, homegrown resources amid rising demand for clean energy tech. It is currently uncertain when Tamarack will be able to enter the commercial production phase.
Talon expanded its resource portfolio in January when it acquired Lundin Mining Corp’s (TSE: LUN) (OTCMKTS: LUNMF) (FRA: GXD) Eagle Mine and Humboldt Mill operations. This deal has given the company a producing U.S. nickel operation, generating cash flow to help fuel Tamarack’s development.
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