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First Tellurium Reports on Solar PV and Surging Demand for Silver and Tellurium
Vancouver, BC, March 15, 2023 (GLOBE NEWSWIRE) -- First Tellurium Corp. (CSE: FTEL, OTC: FSTTF) (the “Company” or “First Tellurium”), reports that recent foreca
About this update from First Tellurium Corp
[{"type":"text","content":" Vancouver, BC, March 15, 2023 (GLOBE NEWSWIRE) -- First Tellurium Corp. (CSE: FTEL, OTC: FSTTF) (the “Company” or “First Tellurium”), reports that recent forecasts by the International Energy Agency (IEA) point to rapid growth in solar photovoltaic (solar PV) deployment worldwide. The agency claims solar PV will generate more power by 2027 than any other source, including coal, natural gas and hydro power. To meet this growth, consumption for both silver and tellurium, key components of solar panels, is expected to surge in coming years. “This growth scenario aligns perfectly with our strategy for developing First Tellurium’s Deer Horn project,” said First Tellurium President and CEO Tyrone Docherty. “While Deer Horn is known best for its high-grade tellurium resource, the property’s current indicated silver grade, as per our latest Preliminary Economic Assessment (PEA), is estimated at 157 grams per tonne.* Factoring in the indicated gold grade of 5.12 grams per tonne,* we have a very attractive mix of precious and green metals, including copper porphyry mineralization, in a time of strong metals markets. Keep in mind that our PEA was based on a silver price of $17 per ounce, gold at $1,300 and copper at $3 per pound—all well below current prices.” The PEA resource was calculated on 450 meters of a 2.4-kilometer (1.5 miles) gold-silver-tellurium vein system. Sampling on outcropping quartz veins in 2022 identified a possible 1.1-kilometer (.7 miles) extension of the system, potentially extending it for total of 3.5 kilometers (2.2 miles). “Drilling planned for 2023 will focus on confirming and enlarging the zone extension,” said Docherty. “We also plan to conduct infill drilling to expand the current indicated and inferred resources. “Solar PV is now the biggest industrial usage of silver,” said investment newsletter writer Chen Lin, who recently featured First Tellurium in presentations for the Metals Investor Forum. “In 2022, solar PV used about 12% of total silver demand, or about 120 million oz of silver. This number will rise dramatically in the coming years, and that should lead to silver deficits for decades to come.” Chen added, “Solar is now the cheapest source of energy in many parts of the world. There are ample bullish predictions for solar PV deployment by the Silver Institute, the IEA, industry publications and in...