Assays Provide Key Information for the Upcoming Mapping, Drilling and Aerial Survey.
Vancouver, BC, Canada, February 22, 2023 – First Tellurium Corp. (CSE: FTEL, OTC: FSTTF) (the “Company” or “First Tellurium”), reports that initial assay results from copper porphyry surface sampling in October of 2022 have provided key information to support the planned 2023 mapping, drilling and aerial survey at the Company’s Deer Horn polymetallic project in west-central British Columbia.
Approximately 9 kilograms of mineralized float from the area of the Pond porphyry showing, situated on the west side of Deer Horn, returned 3% Cu, 7 ppm Te, 94 ppm Ag, and 0.04 ppm Au. Channel samples in pyrite-rich outcrops of the Pond showing returned up to 71 ppm Cu. Pulps from these assays will be submitted for X-ray powder diffraction analysis to determine the mineralogy and its position in the porphyry system.
On the southwest side of the property, approximately 1600 meters west of previous drilling, opaline quartz veins up to 10 centimeters in width were traced for several tens of meters. The veins contained visible sulfides and copper oxide minerals. Assays showed up to 960 ppm Cu, 1.6 ppm Te, 2.9 ppm Ag, and 0.008 ppm Au, but also 467 ppm Zn, 61 ppm Pb, 1.7 ppm Cd, and 0.9 ppm Bi.
“These are important results that further support our premise of a large, buried porphyry system at Deer Horn,” said First Tellurium geologist Dr. Lee Groat. “They also provide valuable information for the geophysical survey at Deer Horn, planned for July 2023. This work will assist in delineating the subsurface extent of the porphyry system and inform locations for the follow-up drill program.”
Dr. Groat added that a property-wide mapping program in 2023 will examine the vein mineralization in detail.
The mapping and aerial survey will support the planned, two-stage drill program. The first stage of drilling will focus on expanding the current Te-Ag-Au zone and increasing the Te-Ag-Au resource. The second stage will focus on gaining more information about the copper porphyry.
“We’re building a good base of information to augment the planned 2023 exploration programs,” said First Tellurium President and CEO Tyrone Docherty. “The geophysical survey, combined with drilling and mapping, are expected to advance the project significantly for the expanding tellurium-silver-gold zone and the copper porphyry.”
Added Docherty, “We’re also intrigued by the fresh indications of zinc, lead, cadmium and bismuth. Deer Horn is a very large, polymetallic property with so much potential to explore in the future. While we’re focused on the tellurium and copper, we know there’s much to learn about the property’s other metals, including critical metals.”
The Company’s disclosure of technical or scientific information related to the Deer Horn Project in this news release was reviewed and approved by Dr. Lee Groat, Ph.D, P.Geo, Technical Advisor to First Tellurium, who is a qualified person within the context of NI 43-101.
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 Klondike tellurium-gold property in Colorado and polymetallic Deer Horn Project in British Columbia 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. First Tellurium is listed on the Canadian Stock Exchange under the symbol “FTEL” and on the OTC under the symbol “FSTTF”. Further information about FTEL and its projects can be found on www.firsttellurium.com.
On behalf of the board of directors of First Tellurium Corp.
President and CEO
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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.