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First Tellurium Provides Clarification on Drilling at Deer Horn
Drilling in 2023 adds to information from previous 55-hole campaign. Vancouver, BC, Canada – TheNewswire - March 8, 2024 – First Tellurium Corp. (CSE: FTEL, OTC
About this update from First Tellurium Corp
[{"type":"text","content":" Drilling in 2023 adds to information from previous 55-hole campaign. Vancouver, BC, Canada – TheNewswire - March 8, 2024 – First Tellurium Corp. (CSE: FTEL, OTC: FSTTF), reports that, further to its March 7 news release regarding drilling and sampling results from the Deer Horn Property in west-central British Columbia, the Company would like to provide context in relation to previous drilling at Deer Horn. “Since issuing yesterday’s news, we’ve had inquiries from shareholders and investors who thought this was the first time we had drilled at Deer Horn,” said First Tellurium President and CEO Tyrone Docherty. “I want to clarify that a previous, 55-hole, 3,772-meter diamond drill program was conducted at Deer Horn, which encountered high gold-silver-tellurium grades in the Main Vein area and contributed to a positive Preliminary Economic Assessment* (PEA) in 2018.” The previous drilling was shallow due to near-surface mineralization, with holes ranging in depths from 25.5 meters to 150.6 meters. The zone remained open at depth and to the east and west. Drilling did not test any of the newly discovered copper porphyry or other areas of a mineralized zone that now covers approximately 17.5 square kilometers. Exploration in 2022 and 2023 indicated that the Au-Ag-Te vein system and copper porphyry are part of a larger, connected mineralized system, as reported in our August 31, 2023 and March 7, 2024 news releases. For details on the previous drill program, please refer to the PEA on our website. “We plan to drill other areas of the property in 2024, following up on the copper porphyry and the Main Vein area,” said Docherty. “As noted in the March 7 news release, our drilling in 2023 was cut short due to regional wildfires. We put down one hole that we thought would provide the most information to inform upcoming drilling this year.” Added Docherty, “Adding the copper porphyry to our exploration targets, and discovering that the porphyry and vein systems are part of one large system, has turned Deer Horn into a valuable exploration asset.” * NI-43-101 TECHNICAL REPORT ON THE PRELIMINARY ECONOMIC ASSESSMENT FOR THE DEER HORN GOLD-SILVER-TELLURIUM PROPERTY, May 31, 2018, authored by Tracey Meintjes P.Eng., Bob Lane P.Geo., Gary Giroux P.Eng., and Marc Schulte P.Eng. About First Tellurium Corp. First Tellurium’s unique business model ...