Vancouver, BC, Canada, Dec. 01, 2022 (GLOBE NEWSWIRE) -- First Tellurium Corp. (CSE: FTEL, OTC FSTTF) (the “Company” or “First Tellurium”) reports that government initiatives for development of critical and green metals continue to reinforce the value of the Company’s tellurium resource at both the Deer Horn Project in west-central British Columbia and Klondike Tellurium Project in Colorado.
“Canadian and U.S. governments are really pushing new strategies and funding initiatives to address the problem of critical mineral supplies,” said First Tellurium President and CEO Tyrone Docherty. “North America is just too dependent on foreign sources for the critical metals required for clean energy, defense and other essential needs.”
First Tellurium reported recently that its exploration at Deer Horn in October (reported November 2), identified an apparent 1.1-kilometer extension of the existing silver-gold-tellurium vein system which would extend the overall system to approximately 3.5 kilometers (2.2 miles). Deer Horn hosts one of the world’s only NI 43-101-compliant resources of tellurium with high-grade precious metals. In addition, the Company’s Klondike Tellurium Project in Colorado is considered one of the country’s top tellurium exploration projects and was previously owned by First Solar Inc. as a potential source of raw tellurium for its solar panels.
Docherty noted that the Cadmium Telluride Photovoltaics Accelerator Consortium, a $20 million initiative designed to make cadmium telluride (CdTe PV) solar cells less expensive and more efficient, was launched in August 2022 by the U.S. Department of Energy. The program will also develop new markets for solar cell products. By 2030, the program aims to increase domestic CdTe PV material and module production, achieve cell efficiencies above 26%, and decrease module costs to below $0.15/watt.
“Governments are just starting to understand the importance of tellurium,” said Docherty. “It has flown largely under the radar, even though it’s essential for cadmium-telluride solar panels and new lithium-tellurium (Li-Te) batteries that could revolutionize energy storage.” Deer Horn’s strategic partner Fenix Advanced Materials is spearheading research and development for new solid-state, Li-Te batteries in partnership with the University of British Columbia Okanagan. The UBCO research was featured recently in a Global News segment.
https://www.globenewswire.com/news-release/2022/12/01/2565832/0/en/First-Tellurium-Reports-on-Government-Initiatives-to-Secure-Tellurium-and-Other-Critical-Materials.html