Vancouver, BC, Canada, Aug. 17, 2022 (GLOBE NEWSWIRE) — First Tellurium Corp. (CSE: FTEL) (the “Company” or “First Tellurium”), reports that the Company is finalizing upcoming work programs for both its Deer Horn Project in British Columbia and Klondike Project in Colorado. Exploration will focus initially on the Deer Horn Property, with work expected to begin in September.
“Work at Deer Horn will concentrate on the copper porphyry showings detailed in our latest PEA,” said FTEL CEO Tyrone Docherty. “While Deer Horn supports one of the world’s only NI 43-101 qualified tellurium-silver-gold resources, past prospecting has revealed significant potential for copper porphyry mineralization outside of the known resource area.”
Docherty added that, with the world’s increasing focus on green metals, especially with new programs from the United States in support of domestic critical metals production, First Tellurium is strategically positioned to help meet this demand.
“First Tellurium has long been recognized as the leading tellurium-focused junior miner,” said Docherty. “However, with the surging need for copper for electrification, we’re seeing renewed interest in the Deer Horn property’s copper potential.”
Deer Horn’s May 2018 Preliminary Economic Assessment noted that copper showings there may be evidence of a largely hidden porphyry copper systems. Samples collected from this zone produced results as high as 4240 ppm Cu and 6.6 g/t Ag. This new copper porphyry potential adds further exploration value to the property.
The copper showings are located about one kilometer west-northwest of the known Te-Ag-Au resource zone and also northeast of the resource.
Said Docherty, “More and more, this district that includes the Huckleberry Mine and Surge Copper’s Ootsa-Berg project, is being recognized as one of the province’s most exciting emerging copper districts.”
In a recent news release, Surge Copper CEO Leif Nilsson noted that “…this district has significant untapped exploration potential and could one day be among the largest copper districts in Canada.”
In Colorado, First Tellurium’s exploration at the Klondike Project will focus on drilling the property’s significant tellurium potential. Surface sampling by First Solar, Inc. in 2006 found very high tellurium grades of up to 3.3% (33,000 ppm) at Klondike, along with locally high gold grades. Tellurium grades at Klondike were the highest encountered in the company’s nationwide exploration program.
About First Tellurium Corp.
First Tellurium’s unique business model is to generate revenue and value through mineral discovery, project development, project generation and cooperative access to untapped mineral regions in Indigenous territory with sustainable exploration.
Our polymetallic (tellurium, gold, silver copper, tungsten) Deer Horn Project in British Columbia and Klondike tellurium-gold property in Colorado anchor a diversified search for metals, working in alliance with Indigenous peoples, NGOs, governments and leading metals buyers. This is the future of mineral exploration: generating revenue by exploring responsibly and leveraging diverse partnerships.
First Tellurium proudly adheres to and supports the principles and rights set out in the United Nations Declaration on the Rights of Indigenous Peoples and in particular the fundamental proposition of free, prior and informed consent.
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Neither the Canadian Securities Exchange nor its regulations services accept responsibility for the adequacy or accuracy of this release.
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated event.
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