VANCOUVER, British Columbia, Feb. 11, 2021 (GLOBE NEWSWIRE) -- Deer Horn Capital Inc. (CSE: DHC) (the “Company” or “Deer Horn”), has provided an update on plans for exploring its 51.3-square-kilometer Deer Horn property in west-central British Columbia. The Deer Horn property hosts an NI 43-101 resource of high-grade gold, silver and tellurium as well as known zones of copper and tungsten.
Exploration to date at Deer Horn has outlined several key mineral zones across a 2.4-kilometer strike length that remain open for expansion in three directions. A 2018 Technical Report and Preliminary Economic Assessment (PEA), calculated on only 20% of the known mineralization, generated positive results for a small-scale, open-pit operation based on prices of $1,300 for gold, $17 for silver and $100 per kg for tellurium.
Five-Year Exploration Permit
Underlying much of the proposed work for 2021 is a five-year exploration permit, for which Deer Horn is awaiting provincial approval. The permit will be used for drilling and other exploration to expand the property’s current NI 43-101 resource.
Next Phase of Copper Exploration
Deer Horn also plans further exploration of copper mineralization identified in past prospecting west of the gold-silver-tellurium resource. The showings, which were revealed by a receding glacier, are indicative of a buried copper porphyry system. Sampling in this area produced results as high as 4240 ppm Cu and 6.6 g/t Ag, and the limits of the zone remain unknown.
Metals for Electric Vehicles and Renewable Energy
“With much stronger metals prices, particularly for silver and copper, we’re anxious to get back to work,” said Deer Horn President and CEO Tyrone Docherty. “What excites us most is that the property contains metals increasingly valuable to the renewable energy sector. Silver, tellurium, copper and tungsten are all essential for a number of expanding and critical technologies.”
Docherty referenced the recent pledge by General Motors to make most of its vehicles electric by 2035. Electric vehicles currently contain about 180 pounds of copper, while hybrid vehicles contain approximately 85 pounds of copper.
“GM is certainly not alone in this massive shift to electric,” said Docherty. “We are in the early stages of a sustained transformation in the auto industry that will see increasing demand for both copper and silver.”
According to the Silver Institute, silver automotive demand this year is projected to hit 61 million ounces and increase in coming years.
Solar energy, which uses both silver and tellurium, is also on a tear.
“In the last decade alone,” said Docherty, “solar power has experienced an average annual growth rate of 49%. With the new U.S. administration vowing to support renewable energy, we believe solar growth is very likely to continue or exceed this pace. These trends put us in a good position strategically as we move forward to identify new resources at the Deer Horn property.”
About Deer Horn Capital
Deer Horn Capital’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 Deer Horn Project in British Columbia anchors a diversified search for metals, working in alliance with Indigenous peoples, NGOs, governments and leading metals buyers. We believe this is the future of mineral exploration: generating revenue by exploring responsibly and leveraging diverse partnerships.
Deer Horn responsibly and ethically explores for metals in British Columbia and Yukon. Deer Horn 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
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For further information please contact:
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| Deer Horn Capital Inc. |
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Tyrone Docherty |
| “Tyrone Docherty” |
604.789.5653 |
| Tyrone Docherty |
tyrone@deerhorncapital.ca |
| President and CEO |
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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.
