First Tellurium Reviews 2022 Exploration at Deer Horn Vancouver, BC, Nov. 02, 2022 (GLOBE NEWSWIRE) -- First Tellurium Corp. (CSE: FTEL, OTC FSTTF) (the “Company” or “First Tellurium”), has provided a review of its 2022 exploration program at the Company’s Deer Horn polymetallic project in west-central British Columbia. Work for the season included rock sampling, channel sampling and prospecting focused primarily on the property’s copper porphyry potential. Assays from the sampling programs are pending.
Image galleries from the first round of work can be viewed here, and from the channel sampling here.
Adding a Structural Geologist to Planned 2023 Program
Based on the findings from the 2022 sampling, Dr. Lee Groat, who directed the program, plans to add a structural geologist to the 2023 team to help understand the faulting, folding and other mechanisms at Deer Horn to help determine the property’s geologic structure and the location of mineralization.
“This is all part of the teasing out of the history of the deposit,” said Dr. Groat. “There’s so much we don’t know, because so much truly interesting ground has never been studied in depth. My belief is that this information will open up more targets while answering some of the key questions we have.”
Planned Financing
The 2023 program will be funded by a planned private placement of up to $1.4 million. Mr. Docherty plans to personally provide a significant amount of the total financing.
“Since we first acquired the Deer Horn Property, I have solidly backed up my belief in the quality of this project,” said First Tellurium President and CEO Tyrone Docherty. “Not only am I the company’s largest shareholder, the discoveries made this summer and fall, combined with the enthusiasm shown by Dr. Groat and even the driller who investigated the project with our team, have given me even more conviction that this is bigger and better than we imagined.”
Property-Wide Soil Sampling by UBC Team in 2023
Part of the planned 2023 program includes a property-wide soil sampling program led by Dr. Groat and a team of University of British Columbia grad students. Due to receding glaciers, a significant amount of ground is now open that has never been explored.
Confirmation of Copper Porphyry Mineralization
Key results from the 2022 program, which began in August and concluded in October, included confirmation of copper porphyry mineralization, discovery of new targets, identification of drill hole locations for a planned 2023 drill campaign and possible extensions to the known tellurium-gold-silver resource and strike length.
“The sampling team, led by Dr. Lee Groat, came back thrilled with what they found at Deer Horn,” said First Tellurium President and CEO Tyrone Docherty. “Not only have we confirmed the presence of copper porphyry mineralization, we have an abundance of good information and exciting targets to launch our 2023 season.”
The campaign focused on sampling the Pond, North Pond and H-Spot copper porphyry targets first identified in the 2018 Preliminary Economic Assessment. The showings are located about one kilometer west-northwest of the known Te-Ag-Au resource. Full extent of showings remains unknown and open.
https://www.globenewswire.com/news-release/2022/11/02/2546378/0/en/First-Tellurium-Reviews-2022-Exploration-at-Deer-Horn.html