Lundin Mining to option exploration properties from Talon Metals

Concurrently with the execution of the exclusivity agreement, Lunding Mining has advanced Talon US$5 million to, among other things, commence drilling at Boulderdash.

It is anticipated that pursuant to the terms of the Option Agreement, Lundin Mining will agree to fund up to 30 000 m of Talon’s drilling campaign at Boulderdash in exchange for a 44.625% interest in Boulderdash. Such drill campaign will be completed in 10 000 m tranches at the election of Lundin Mining.

Following the completion of 30 000 m of drilling, the company may fund a feasibility study in respect of the Boulderdash property in exchange for an additional 25.375% interest in Boulderdash, for a total ownership of 70%, as well as the potential for a 90% interest in certain properties adjacent to Boulderdash.

Boulderdash Properties

The Boulderdash target is located approximately 12 km northwest of Lundin Mining’s Eagle Mine in Michigan, the only operating nickel mine in the US. The maiden drill hole at Boulderdash announced last year intercepted 99.92 m grading 0.41% nickel and 0.35% copper starting at 9.14 m depth, more recent drilling has intercepted 2.35 m of nickel-copper massive sulphide mineralisation assaying 2.33% nickel and 2.95% copper.

As part of the option agreement Lundin Mining will fund an initial 10 000 m drill program to follow up on recent drill results.

Read the article online at: https://www.globalminingreview.com/mining/10032025/lundin-mining-to-option-exploration-properties-from-talon-metals/