First Tellurium Reports on Recent Channel Sampling at Deer

Vancouver, BC, Canada, Oct. 19, 2022 (GLOBE NEWSWIRE) — First Tellurium Corp. (CSE: FTEL, OTC FSTTF) (the “Company” or “First Tellurium”), reports that channel and rock sampling conducted Oct 5-7 at the Company’s Deer Horn Property in west-central British Columbia has confirmed the presence of porphyry mineralization while encountering new mineralization in areas not previously sampled. Channel samples were taken from the Pond and H-Spot porphyry targets. The samples compliment rock samples obtained from the North Pond porphyry target and other mineral showings in August and September. Pictures from the sampling program can be viewed here.

“Even with assays still pending, this was a successful and positive sampling effort by just about any measure,” said First Tellurium Chairman and geologist Tony Fogarassy, who participated in the sampling. “Not only did we confirm porphyry mineralization at the Pond, North Pond and H-Spot zones, we discovered a possible 1.1-kilometer (.7 miles) extension of the existing 2.4-kilometer (1.5 miles) gold-silver-tellurium vein system. This vein system may now extend a total of 3.5 kilometers (2.2 miles).”

Information obtained from three sampling programs in 2022 supports the premise from the May 2018 Preliminary Economic Assessment that Deer Horn hosts at least one copper-gold-silver porphyry system. Photos from earlier sampling can be viewed here.

“In short,” said Fogarassy, “the porphyry story is coming together.”

“We are definitely finding porphyry mineralization, said consulting geologist Dr. Lee Groat. “All the indicators are there. Everything looks right.”

“The bigger puzzle we want to solve,” Groat added, “is the age relationship between the gold-silver-tellurium veins and the porphyry mineralization. This would go a long way to understanding the magnitude of our discoveries so far. I’m really looking forward to putting some of the pieces of this very interesting puzzle…