The planned 10,000-tonne bulk sample will provide essential economic and metallurgical information.
Vancouver, BC, Canada, March 1, 2023 – First Tellurium Corp. (CSE: FTEL, OTC: FSTTF) (the “Company” or “First Tellurium”), reports that it has launched permitting for a 10,000-tonne bulk sample at the Company’s Deer Horn tellurium-silver-gold project in west-central British Columbia. The bulk sample will provide essential economic and metallurgical information to move Deer Horn to possible production.
First Tellurium has contracted with Moose Mountain Technical Services to manage the permitting process. Submission of the permit to the BC Ministry of Energy, Mines and Low Carbon Innovation is expected in late spring of this year.
“We are looking two or three years ahead with Deer Horn,” said First Tellurium President and CEO Tyrone Docherty. “With the positive PEA, extension of the tellurium-silver-gold zone in 2022, and broad-based exploration planned for 2023, we believe the project will be ready for the sort of ‘ground-truthing’ a bulk sample can provide towards a production decision.”
Docherty noted that the bulk sample is targeted for 2025. “Permitting for a bulk sample usually requires a year or more, followed by the planning and logistics necessary to make it happen. We will busy in that time, adding more drilling, sampling and geophysical information to our database.”
Plans for the 2023 season at Deer Horn include mapping and drilling to investigate and expand the tellurium-silver-gold mineralization as well as recently confirmed copper porphyry mineralization. Further information on the program is available in the Company’s February 22, 2023 news release.
In January of 2023, the Company announced plans for an induced polarization (IP) geophysical survey to help develop drill targets for the planned summer drill campaign. The IP survey will follow up on successful rock sampling, channel sampling and prospecting conducted in 2022, which identified a possible 1.1-kilometer (.7 miles) extension of the existing 2.4-kilometer (1.5 miles) gold-silver-tellurium vein system. This system may now extend a total of 3.5 kilometers (2.2 miles).
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.