GODYD - Results from First Tellurium's 2023 Field Season at Deer Horn Indicate a Large Connected Mineralized System
(TheNewswire)
Sample and drill core analysis reinforces anear-surface copper porphyry and expanding Au-Ag-Te zone.
Vancouver, BC, Canada – TheNewswire - March 7, 2024 –First Tellurium Corp. (CSE: FTEL ) , ( OTC: FSTTF ), reports ithas received results from its 2023 field season at the Company’sDeer Horn gold-silver-tellurium and copper porphyry project inwest-central British Columbia. The exploration program consisted ofproperty-wide prospecting and mapping as well as limited drilling thatwas cut short due to regional wildfires.
Prospecting and mapping at Deer Horn included 125samples that were collected and submitted for assay. The program wasmanaged by Technical Consultant and QP Dr. Lee Groat, who reportedthat the work produced values as high as 48.2 ppm (48.2 grams pertonne) gold from sample 23TN068 (see Au map), 292 ppm (292 grams pertonne) silver from sample 23AL001 sample (see Ag Map), and 407 ppmtellurium (see Te map).
“These results are highly encouraging,” said Groat.“The Main Te-Ag-Au Vein appears to extend right across the property,running approximately 250 m south of the surface expression of acopper porphyry. This, together with bornite and malachite surfacemineralization on the far SW of the property, suggests a largesystem.”
The assays were prepared by ALS Labs in North Vancouverusing X-ray powder diffraction analysis. The highest Cu value reportedwas 8,310 ppm from sample 23AL006 (see Cu Map.) The highest Mo valuereported was above the detection limit (>10,000 ppm) from sample23TN064 (see Mo Map.) The highest W value reported was 1,630 ppm fromsample 23TN029 (see W Map.)
The six maps below show Cu, Mo, Au, Ag, Te, and Wconcentrations, along with alteration mineralogy characteristic of aporphyry system. The commodities Cu, Mo, Te, Au, and W are elevatedtowards the west of the 2023 sampling area. Ag values are elevated inboth the east and west of the 2023 sampling area. These results expandthe Au-Ag-Te zone towards the west of the property.
“The porphyry is likely the source of all themineralization,” said Groat, who concluded that the mapping programconfirmed the primary structure within the Deer Horn property is alarge, E-W trending thrust fault. “Orientations appear consistentacross several lithological units. This suggests the veins formed as aresult of the same structural regime and are likely part of a largerore-forming process that generated both the Deer Horn Au-Ag-Te andPond copper porphyry mineralization.”
For more information about the results, click to view a recentpresentation Dr. Groat.
Due to extensive wildfires in the region, access tohelicopters and crews was greatly limited for most of the season. As aresult, one hole (FTEL-23-01, see map) was drilled to a depth of 357ft at the Pond copper porphyry location. The major rock type in thehole is an altered granodiorite crosscut by multiple alteredporphyritic andesite dikes. Propylitic veins are prevalent throughoutthe hole.
Tyrone Docherty, First Tellurium’s President and CEO,noted that with the limited drilling window, the one hole was locatedto provide as much information as possible. “This was aneedle-in-a-haystack situation,” said Docherty. “As we announcedback in October, the combined copper porphyry andgold-silver-tellurium mineralized zone now extends across 17.5 squarekilometers. We’re very pleased with the information this hole gaveus.”
“The alteration mineralogy in the drill core suggeststhat we are above the ore zone in models of porphyry systems,” saidGroat. “Pyrite is disseminated in minor to trace amounts and presentin veins and fractures throughout the majority of the hole.Chalcopyrite, malachite, molybdenite, and magnetite are all observedsporadically in the core.”
Fourteen samples of select intervals of the drill corewere submitted for assay. Interval 164 ft to 170 ft reported thehighest Cu and Ag values at 204 ppm and 0.46 ppm, respectively. Twointervals, 7 ft to 13 ft and 52.5 ft to 58 ft,report the highest Te value at 0.06 ppm. Interval 176.17 ft to 182 ftreported the highest Mo at 6.24 ppm. Interval 299 ft to 305 ft had thehighest W at 5.9 ppm. Au was below the detection limit across the 14samples.
Assays from Drill Hole FTEL-23-01 are summarizedbelow:
| Sample # |
| From (ft) |
| To (ft) |
| Interval (ft) |
| Au (ppm) |
| Ag (ppm) |
| Te (ppm) |
| Cu (ppm) |
| W (ppm) |
| Mo (pm) |
| 203101 |
| .08 |
| 7 |
| 6.92 |
| <0.005 |
| 0.14 |
| <0.05 |
| 20.0 |
| 1.8 |
| 2.54 |
| 203102 |
| 7.00 |
| 13 |
| 6.00 |
| <0.005 |
| O.24 |
| 0.06 |
| 62.6 |
| 2.1 |
| 4.47 |
| 203105 |
| 25.16 |
| 31 |
| 5.83 |
| <0.005 |
| 0.24 |
| <0.05 |
| 116.5 |
| 2.8 |
| 3.97 |
| 203109 |
| 46.5 |
| 52.5 |
| 6.00 |
| <0.005 |
| 0.21 |
| <0.05 |
| 80.2 |
| 2.8 |
| 3.09 |
| 203111 |
| 52.5 |
| 58 |
| 5.50 |
| <0.005 |
| 0.06 |
| 0.06 |
| 16.8 |
| 3.0 |
| 2.51 |
| 203115 |
| 75.5 |
| 81.5 |
| 6.00 |
| <0.005 |
| 0.31 |
| <0.05 |
| 106.5 |
| 2.0 |
| 2.73 |
| 203125 |
| 130 |
| 136 |
| 6.00 |
| <0.005 |
| 0.19 |
| <0.05 |
| 68.5 |
| 1.7 |
| 2.86 |
| 203127 |
| 142 |
| 146.5 |
| 4.50 |
| <0.005 |
| 0.27 |
| 0.05 |
| 110.5 |
| 2.2 |
| 3.89 |
| 203132 |
| 164 |
| 170 |
| 6.00 |
| <0.005 |
| 0.46 |
| <0.05 |
| 204.0 |
| 3.1 |
| 3.31 |
| 203134 |
| 176.2 |
| 182 |
| 5.80 |
| <0.005 |
| 0.09 |
| <0.05 |
| 131.0 |
| 2.0 |
| 6.24 |
| 203141 |
| 212 |
| 218 |
| 6.00 |
| <0.005 |
| 0.12 |
| <0.05 |
| 47.4 |
| 1.7 |
| 3.00 |
| 203157 |
| 299 |
| 305 |
| 6.00 |
| <0.005 |
| 0.07 |
| <0.05 |
| 13.1 |
| 5.9 |
| 1.32 |
| 203158 |
| 305 |
| 310 |
| 5.00 |
| <0.005 |
| 0.05 |
| <0.05 |
| 30.4 |
| 3.7 |
| 1.86 |
| 203159 |
| 310 |
| 315 |
| 5.00 |
| <0.005 |
| 0.04 |
| <0.05 |
| 21.7 |
| 5.0 |
| 1.62 |
Note: Drill Hole FTEL-23-01 has an Azimuth 354 degreesand an angle of -70 degrees, drilled to a depth of 357 feet. Assayswere prepared by ALS Labs of North Vancouver, BC, using ME-MS61 andAu-AA24 analytical method codes.
Docherty noted that the drill, owned by FirstTellurium, remains on site and will be available as soon as the 2024season opens. “With the drill there and ready to go, we expect tohit the ground running this year,” said Docherty. “Our permits arein place, and we plan to engage a second drill as soon aspossible.”
Gold Sampling Results
Silver Sampling Results
Tellurium Sampling Results
Copper Sampling Results
Molybdenum Sampling Results
Tungsten Sampling Results
Qualified Person
The Company’s disclosure of technical or scientificinformation related to the Deer Horn Project in this news release wasreviewed and approved by Dr. Lee Groat, Ph.D, P.Geo, Technical Advisorto First Tellurium, who is a qualified person within the context of NI43-101.
About First Tellurium Corp.
First Tellurium’s unique business model is togenerate revenue and value through mineral discovery, projectdevelopment, project generation and cooperative access to untappedmineral regions in Indigenous territory with sustainableexploration.
Our Klondike tellurium-gold property in Colorado andpolymetallic Deer Horn Project in British Columbia anchor adiversified search for metals, working in alliance with Indigenouspeoples, NGOs, governments and leading metals buyers. This is thefuture of mineral exploration—generating revenue by exploringresponsibly and leveraging diverse partnerships.
First Tellurium proudly adheres to, and supports, theprinciples and rights set out in the United Nations Declaration on theRights of Indigenous Peoples and in particular the fundamentalproposition of free, prior and informed consent. First Tellurium islisted on the Canadian Stock Exchange under the symbol “FTEL” andon the OTC under the symbol “FSTTF”. Further information aboutFTEL and its projects can be found on www.firsttellurium.com .
| On behalf of the board of directors of First Tellurium Corp. “Tyrone Docherty” Tyrone Docherty President and CEO |
| For further information please contact: Tyrone Docherty 604.789.5653 tyrone@firsttellurium.com |
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Neither theCanadian Securities Exchange nor its regulations services acceptresponsibility for the adequacy or accuracy of this release.
Forward-lookinginformation
All statements included in thispress release that address activities, events or developments that theCompany expects, believes or anticipates will or may occur in thefuture are forward-looking statements. These forward-lookingstatements involve numerous assumptions made by the Company based onits experience, perception of historical trends, current conditions,expected future developments and other factors it believes areappropriate in the circumstances. In addition, these statementsinvolve substantial known and unknown risks and uncertainties thatcontribute to the possibility that the predictions, forecasts,projections and other forward-looking statements will proveinaccurate, certain of which are beyond the Company’s control. Readers should not place undue reliance on forward-lookingstatements. Except as required by law, the Company does not intendto revise or update these forward-looking statements after the datehereof or revise them to reflect the occurrence of futureunanticipated event.
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