First Tellurium (CSE: FTEL) (OTCQB: FSTTF) has scheduled its drill program in Deer Horn to begin later this month; the program will focus on the Pond zone copper-gold porphyry target. According to the announcement, the objective of the program will be to intersect disseminated mineralization and help locate the main mineral zone in the subsurface. Information obtained from the program will be combined with results from work conducted over the past two years to inform a larger drill program scheduled for 2024. The company will also be conducting an Induced Polarization (“IP”) geophysical survey this month, which will be following up on successful rock sampling, channel sampling and prospecting. “Our prospecting, mapping and sampling over the past two years has given us an extensive base of information to support the drilling and IP survey,” said First Tellurium president and CEO Tyrone Docherty in the press release. “What we have learned is that both the copper-gold porphyry target and gold-silver-tellurium vein system extend much farther than we first understood. Even more important is the discovery last month that the two mineralized systems are connected, supporting the premise that the property could support a large copper-gold porphyry across ground that has never been explored.”
In addition, First Tellurium announced a nonbrokered private placement. The placement is designed to raise up to $600,000 through the sale of an estimated five million flow-through shares at $0.12 and up to $400,000 through the sale of up to four million units at $0.10. First Tellurium president, CEO and director Tyrone Docherty will participate in the offering through his private company, Docherty Capital Corp., which is considered a related-party transaction. “I continue to be a major investor and big believer in the future of the Deer Horn Property, especially with the results of the past two years,” said Docherty. “We’ve kept this financing deliberately small, believing that the upcoming drilling and IP will allow us to conduct subsequent financings on better terms.”
To view the full press release, visit https://ibn.fm/4a8cn
About First Tellurium Corp.
First Tellurium adheres to a unique business model designed 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. The company’s Klondike tellurium-gold property in Colorado and polymetallic Deer Horn Project in British Columbia anchor a diversified search for metals. The company works in alliance with Indigenous peoples, NGOs, governments and leading metals buyers. This is the future of mineral exploration — generating revenue by exploring responsibly and leveraging diverse partnerships. First Tellurium 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. For more information about the company, please visit www.FirstTellurium.com.
NOTE TO INVESTORS: The latest news and updates relating to FSTTF are available in the company’s newsroom at https://ibn.fm/FSTTF
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