U.S. Department of Interior Lists Tellurium as a “Critical Mineral” for 2018
Vancouver, BC, Canada, November 20, 2018 – Deer Horn Capital Inc. (CSE: DHC, OTCBB: GODYF) (the “Company” or “Deer Horn”), reports that the United States Geological Survey (USGS), Department of the Interior (DOI), has included tellurium on its list of 35 “critical minerals” for 2018. A key part of Deer Horn Capital’s vision is to supply critical minerals, particularly tellurium, that are vital to a low-carbon economy as well as to new, emerging technologies related to the advancement of clean energy and fresh water.
The DOI defines a critical mineral as “…a non-fuel mineral or mineral material that is essential to the economic and national security of the United States, that has a supply chain vulnerable to disruption, and that serves an essential function in the manufacturing of a product, the absence of which would have significant consequences for the economy or national security.”
The DOI noted that this list will be the initial focus of a multi-agency strategy due in later this year to implement the President’s Executive Order to break America's dependence on foreign minerals
“The expertise of the USGS is absolutely vital to reducing America’s vulnerability to disruptions in our supply of critical minerals,” said Dr. Tim Petty, Assistant Secretary of the Interior for Water and Science.
Tellurium is found at the Deer Horn property in British Columbia and at the Colorado Klondike property in Colorado where Deer Horn recently signed a Letter of Intent for an option agreement to explore the property.
Deer Horn president and CEO Tyrone Docherty noted that “Having tellurium on the DOI critical minerals list reinforces our strategy that securing primary supplies of tellurium can provide long-term value to our shareholders.”
Deer Horn recently reported positive results from an independent Preliminary Economic Assessment (“PEA”) at the Deer Horn property, where the Company is planning to conduct further drilling to both expand and upgrade the current gold-silver-tellurium resource.
The “Critical Minerals” statement noted that the DOI is formulating a plan for improvements to mapping the United States and its mineral resources as well as recommendations to streamline lease permitting and review processes.
“As we move towards finalizing the Colorado Klondike agreement,” said Docherty, “we’re very happy to see the U.S. working towards simplification and improvement of its permitting process. We plan to be exploring the property in 2019.”
Docherty added that the critical minerals list also includes tungsten, a metal found at the Deer Horn property west of the zone that was the focus of the Preliminary Economic Assessment for gold, silver and tellurium.
“We haven’t talked much about the tungsten at Deer Horn,” said Docherty. “But it was a tungsten discovery that led to the original staking of the property in the 1940s. Some of the results, especially in trenching, are significant and warrant further exploration.”
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