Talon Metals Reports Second Quarter 2011 Results
ROAD TOWN, Tortola, British Virgin Islands, Aug. 15, 2011 /CNW/ --
Talon files 3(rd) NI 43-101 Technical Report on SEDAR for the Trairão Iron Project
ROAD TOWN, Tortola, British Virgin Islands, Aug. 15, 2011 /CNW/ - Talon Metals Corp. ('Talon' or the 'Company') (TSX: TLO) reports a net
loss for the three month period ended June 30, 2011 of $5,917,928 or
$0.07 per share (basic and diluted). Net loss for the six month period
was $9,076,908 or $0.11 per share (basic and diluted). This compares to
net loss of $5,079,819 or $0.08 per share (basic and diluted) for the
three months ended June 30, 2010 and net loss of $5,344,832 or $0.11
per share (basic and diluted), for the first six months of last year.
Capitalized exploration for the three and six month periods ended June
30, 2011, amounts to $6,628,725 and $9,284,898 respectively. This
relates mainly to work done on the Trairão Project. This compares to
$697,833 and $999,734 for the three and six month periods respectively
of last year and primarily related to work done on the Sergipe Potash
Project.
Consolidated Interim Financial Statements for the three and six months
ended June 30, 2011, along with Management's Discussion and Analysis,
have been filed on SEDAR and are available at www.sedar.com.
Third NI 43-101 Technical Report on Trairão
Talon also announces that a National Instrument 43-101 ('NI 43-101')
technical report has been filed on SEDAR for the Company's 100% owned
Trairão Iron Project in Pará State, Brazil. This is further to Talon's
news releases of August 4 and June 29, 2011.
The independent technical report is entitled 'Third Independent
Technical Report on Mineral Resources' and dated August 12, 2011.
Talon's Third Technical Report includes the new mineral resource
estimate for Target Area 3, an updated mineral resource estimate for
the Target Area 2, as well as the previously reported mineral resource
estimate for Target Area 1.
About Talon
Talon is a TSX-listed company focused on the exploration and development
of its 100% owned Trairão Iron Project in Pará State, Brazil. The
Company has a well-qualified exploration and management team with
extensive experience in exploration and project management.
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For additional information on Talon please visit the Company's website at www.talonmetals.com or contact:
Erica Belling
VP Investor Relations
Tau Capital Corp.
Tel: (416) 361-9636 x 243
Email: ebelling@taucapital.com