Vancouver, British Columbia--(Newsfile Corp. - July 4, 2018) - Deer Horn Capital (CSE: DHC) (OTC: GODYF) reports that two studies have forecast steady growth in the demand for tellurium. The main use of tellurium is for development of cadmium-tellurium film in photovoltaic solar cells, which is considered to be an emerging application. The solar energy industry represents the largest share of the tellurium market today, accounting for nearly 40 percent of annual tellurium consumption.
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According to a 2017 "Critical Mineral Resources" report by the United States Geological Survey, Tellurium is a very rare element that averages only 3 parts per billion in Earth's upper crust. It is three times rarer than gold, comparable to the rarity of platinum and rarer than most "rare earth" metals. Most refined tellurium is recovered as a by product from the electrorefining of copper.
The USGS report calculated that the world currently depends on copper mining for roughly 90 percent of its tellurium supply. However, as copper grades continue to decline, copper miners are turning to different recovery methods to exploit lower-grade ore. These processes largely bypass any recovery of tellurium.
The USGS report identified: "The Deer Horn intermediate-sulfidation epithermal deposit in west-central British Columbia, Canada, contains high gold and silver grades with abundant base-metal sulfides and telluride minerals."
The Deer Horn project, a gold-silver-tellurium deposit in west-central British Columbia, is located 135 kilometres southwest of the community of Burns Lake and 36 kilometres south of the Huckleberry mine.
The demand for tellurium is further supported by a June 2018 report by Technavio, a leading global technology research and advisory company, which stated: "The global tellurium market 2018-2022 is expected to register a compound annual growth rate of 3%. A key factor driving the market's growth is the increased demand from the consumers electronics industry. They offer potential solutions to a wide range of application such as mobile phones, LED displays, and wearable electronic devices."
Tyrone Docherty, President and CEO, stated: "On a relative scale, there isn't a lot of high-grade copper left for the supply of tellurium. As these higher-grade copper deposits wind down, production from lower-grade deposits, where tellurium is excluded, will dominate the industry. This will certainly impact tellurium output in the years ahead."
The company has produced positive economics in a Preliminary Economic Analysis and, to management's knowledge, hosts Canada's only NI 43-101 tellurium resource. The PEA was calculated from only 450 metres of a 2.4 kilometre-long mineralized system that remains open to the west, east and down-dip. The company is planning to conduct further drilling to both expand the upgrade the current gold-silver-tellurium resource.
The company is currently raising up to $400,000 through a private placement of up to 800,000 units at a price of $0.50 per unit, with each unit consisting of one share and one-half a warrant, with each full warrant exercisable at $0.60 for 24 months.
For more information, please visit the company's website at www.deerhorncapital.ca, contact Tyrone Docherty, President and CEO, at 604-789-5653 or email tyrone@deerhorncapital.ca. Investor relations is handled by Craig Doctor, who can be reached at 604-278-4656 or by email at craig@DocsConsultingltd.com.
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