Talon Announces Discovery of New Gold Zone at Água Branca and Commencement of Exploration Program
Sept 5, 2007
Road Town, Tortola, British Virgin Islands (Sept 5, 2007) - Talon Metals Corp. (“Talon” or the “Company”) (TSX: TLO) is pleased to announce the discovery of Heaven West, a new gold mineralized zone at the Company's Água Branca Gold Project (“Água Branca” or the “Project”). A Fall 2007 exploration program is underway at Água Branca. Surface work has begun and diamond drilling will commence in early October, 2007.
Heaven West Zone
Recent work has led to the discovery of Heaven West, a zone of high-grade gold mineralization. High-grade grab samples from quartz veins include 132.2, 109.9, 107.0, 66.0 and 29.9 g/t Au. Highlights from channel sampling of quartz veins and hydrothermally altered monzogranite include:
(*open in one direction)
Geological and structural mapping was conducted in conjunction with systematic channel sampling of hand-dug pits and limited surface exposures; channel widths often being limited by extent of exposure. A total of 95 rock samples (87 channel samples and 8 grab samples) were collected from a 900 by 250 metre area at Heaven West. The actual limits of the zone have not yet been defined.
Mineralization at Heaven West is hosted in sulphide-bearing quartz veins and saprolitic and hydrothermally altered medium to coarse-grained monzogranite, assigned to the Parauari intrusive suite. Hydrothermal alteration includes sericite, silica, pyrite and minor chlorite. Observed veins ranged in thickness from 1 to 70 centimetres and areas with closely spaced veins show pervasive wallrock alteration. Structural interpretation indicates the presence of a complex brittle zone composed of four main structural systems within a poorly developed broad northwest trending shear zone which parallels the dominant structural orientation of the region. North and northeast structures which crosscut the northwesterly shearing host high-grade gold mineralization.
Serra da Abelha Target
As reported in the Company's news release of May 14, 2007, the Serra da Abelha target is defined by an 800 by 250 metre wide northwest trending +100 ppb gold in soil anomaly. Anomalous gold in soil values range from 100 to 521 ppb Au and the anomaly is open to the northwest. Geological mapping and surface sampling is being conducted at Serra da Abelha prior to drill testing. Based on limited outcrops exposures, a similar geological and structural setting to the Heaven West area is recognized at Serra da Abelha.
2007 Exploration Program
The Company has commenced a Fall 2007 exploration program at Água Branca which will include geological and structural mapping, rock and channel sampling, grid based soil sampling and diamond drilling. A total of $650,000 has been budgeted for the program. Surface work is underway, with diamond drilling to commence in early October. Boart Longyear Geoserv has been awarded a contract for a minimum 2,000 metre drill program. The 2007 drill program is designed to provide an initial test of both the Heaven West and Serra de Abelha targets. Additional target areas may be tested based on the results of ongoing surface work.
Additional target areas at Água Branca include Jerimum, Carlinhos and Araguari. Geological mapping is ongoing and rock and grid-based soil sampling has been conducted at the Jerimum target; assay results are pending. Mapping and rock and soil geochemistry has commenced over the Carlinhos target. Similar exploration is planned for Araguari and other pre-selected geophysical targets. Power auger drilling equipment was recently moved to the Project and will provide additional information to define new drill targets.
Exploration at Água Branca is being managed by Talon's VP Exploration, Mr. Paulo Ilidio de Brito (Member: AusIMM), who is a qualified person within the meaning of National Instrument 43-101. Mr. Ilidio de Brito, who is responsible for the technical material in this release, has verified the data disclosed in this release, including the sampling, analytical and test data underlying the information.
Água Branca Overview
The 48,043 hectare Project is located within the TapajÓs Gold District (“TapajÓs”) in Brazil's ParÁ State. The TapajÓs is the site of significant alluvial gold production over the last forty years, with an estimated 19 million ounces of gold produced from a 168,000 square kilometre area*. Mineralization at Água Branca is associated with granitic intrusives and linear zones of hydrothermal alteration within a northwest-trending crustal-scale deformation zone characteristic of the TapajÓs. The Project is the site of widespread historic “garimpos” (artisanal workings), in the form of hand dug pits and trenches up to 35 to 40 metres deep from which “garimpeiros” (artisanal miners) extracted gold from saprolite, the in-situ weathered rock overlying the primary bedrock. In 2006 the Company commenced exploration on the property, including a thirteen hole (2,416 metre) diamond drill program on Camarão Hill, the most advanced garimpo on the property. Gold mineralization was encountered in all holes drilled at Camarão Hill. Heaven West and Serra da Abelha are located 9.0 kilometres southwest and 1.5 kilometres southeast of Camarão Hill, respectively.
* The estimate of gold production from the TapajÓs is of historic significance only.
The Company is listed on the TSX and is focused on the acquisition, exploration and advancement of high quality mineral resource projects. The Company has a well-qualified exploration and management team with extensive experience in exploration and project management.
The Company has a treasury of approximately CDN$9.1 million and holds 13,150,000 common shares of Brazauro Resources Corporation (TSX-V:BZO). The Company has 27,054,222 shares outstanding and 32,503,722 shares fully diluted. For additional information please visit the Company's websiteat www.talonmetals.com or contact:
Quality Assurance / Quality Control
The grab and channel samples reported in this release were collected by Talon's geologists, prepared for analysis at SGS-Geosol Laboratorio Ltda's (“SGS-Geosol”) sample-preparation laboratory in Itaituba, Brazil and 150 gram pulps were air-freighted by SGS-Geosol to their main assay laboratory in Belo Horizonte, Minas Gerais State, Brazil. SGS-Geosol is independent of Talon.
The soil samples reported in the May 14, 2007 news release were collected by Talon's geologists, prepared for analysis at SGS-Geosol's sample-preparation laboratory in Itaituba, Brazil and 150 gram pulps were air-freighted by SGS-Geosol to their main assay laboratory in Belo Horizonte, Minas Gerais State, Brazil. Soil samples at Serra da Abelha were collected at 50 and 100 metre intervals (different spaces along intercalated lines) on 50 metre spaced lines on a 50-100 by 50 metre grid.
Gold is determined by fire assay/atomic absorption with a detection limit of 5 ppb Au using 50 gram aliquots. Lead fire assays use silver as a co-collector to facilitate easier handling of prills as well as to minimize losses during the cupellation process. Selected samples will later be analyzed for other elements such as silver, copper, lead, zinc, etc. by ICP spectrometry/multi-acid digestion. The laboratory is instructed to automatically reanalyze abnormally high gold values. SGS-Geosol inserts its own standards and blanks into each sample batch. The results from these control samples indicate acceptable consistency of analysis.
This press release contains certain "forward-looking statements". All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding the Company's exploration plans and objectives with respect to the Água Branca Gold Project, exploration results, and potential mineralization) are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, changes in gold prices, changes in equity markets, political developments in Brazil, changes to the regulations affecting the Company's activities, delays in obtaining or failure to obtain required regulatory approvals, uncertainties relating to the availability and costs of financing needed in the future, the uncertainties involved in interpreting drilling results and other geological data, and the other risks involved in the gold exploration and development industry. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of buy . Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.