Vancouver, BC, Canada, Oct. 06, 2022 (GLOBE NEWSWIRE) -- First Tellurium Corp. (CSE: FTEL, OTC FSTTF) (the “Company” or “First Tellurium”), reports that channel sampling is underway at the Company’s Deer Horn Property in west-central British Columbia, following up on rock sampling at the Pond and H Spot showings in August and September which encountered widespread porphyry-style mineralization (assays pending). The team will also conduct channel sampling on a third zone of porphyry-style mineralization northeast of the Pond and H Spot zones. This target was first identified in 2012 and never explored. In addition, a prominent quartz vein outcrop at least three meters wide, discovered in September, will be sampled and measured.
“Dr. Groat and his team came back very excited about what they found last month,” said FTEL President and CEO Tyrone Docherty. “It’s why they wanted to get back and start drilling immediately before we lost our fall weather window. Unfortunately, we weren’t able to coordinate all the logistics with the drilling company in time for the 2022 season.”
Larger Drill Campaign Proposed for 2023
“While we’d like to get a limited number of drill holes completed this season, waiting until next year gives us a longer window for comprehensive drilling,” said Docherty. “In addition, assays and information from this year’s sampling will give us better intel for planning what will be a larger drill campaign in 2023. In addition to drilling the Pond and H Spot zones, we hope to expand our 2023 drilling to include the new target. This could greatly expand the porphyry potential at Deer Horn.”
Photo Gallery from September Sampling Program
A photo gallery from the August-September program is now available for viewing here on the Company’s website.
“Looking at these photos, shareholders can see why we’re so excited about the additional work now underway,” said Docherty. “You see multiple targets in porphyry-style outcrop over a broad area. This is why Dr. Groat wanted to get a drill on site as soon as possible, and why he returned to the property again this week for channel sampling.”
Sampling the Third Showing of Porphyry-Style Mineralization
The third porphyry-style showing of copper-gold mineralization occupies the northeast quadrant of Deer Horn’s 51-square kilometer claim holdings, on a ridge crest 1.8 km northwest of Kenney Lake. Select grab samples from this showing in 2012 graded from 10 to 4540 ppm Cu, from 0.07 to 7.72 ppm Ag and from <5 to 262 ppb Au. Channel sampling of the zone, led by Dr. Lee Groat of the University of British Columbia, will further investigate its porphyry potential.
A key objective of the current sampling is to identify drill targets for this third zone.
The Pond Showing at First Tellurium’s Deer Horn Property. Click here to visit the full photo gallery.
“This third showing has intrigued us for a long time,” said Docherty. “The May 2018 PEA was specific in its recommendations for further work on the zone, noting that the area had no known exploration history and that the geology was indicative of porphyry-style mineralization.”
FTEL’s New Website, Presentation and Video
We are also excited to announce the launch of our new website, where you’ll find information about our company and properties. In addition, we have also released a new animated pitch deck, which you can find here. This presentation provides an overview of our business and future opportunities. Finally, we have also released a new explainer video, which you can find here. This video dives into the details of our properties and how they can benefit First Tellurium Investors.
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.
On behalf of the board of directors of First Tellurium Corp. “Tyrone Docherty” Tyrone Docherty President and CEO | For further information please contact: Tyrone Docherty 604.789.5653 tyrone@firsttellurium.com |
Neither the Canadian Securities Exchange nor its regulations services accept responsibility for the adequacy or accuracy of this release.
Forward-looking information
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.
