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First Tellurium Corp. (CSE: FTEL) (OTC:FSTTF), is pleased to report that its US-based team of geologists has completed soil sampling at the Company’s Klondike tellurium-gold project in south-central Colorado. Data and interpretations from this program will inform a Phase 1 drilling program at Klondike planned for 2023, helping to better formulate drillhole targeting and permitting drill sites.
Market Action
On Monday, FTEL.C stock ended flat at C$0.14 with more than 53K shares, compared to a volume of 80K shares. The stock moved within a range of C$0.14-0.14 after opening trade at C$0.14.
One of the companies to have been in the news in recent times quite frequently is First Tellurium. As a matter of fact, the company was in the news last week on October 26 as well when it made an announcement with regards to its Klondike Project located in Colorado.
The company announced that it’s United States-based group of geologists had managed to complete the soil sampling at the site. The interpretations and the data from this particular exercise are going to be vital when it comes to the Phase 1 drilling program at the project in 2023. It is going to help the company in making more informed targets with regard to drill holes and permitting drill sites.
The company announced that it had managed to collect as many as 343 soil samples over the course of a period of nine days. The grid from which the samples were collected was spread across an area of 1 kilometer by 1 kilometer. The samples that had been collected as part of this exercise will be sent to ALS Geochemistry for the purpose of trace-level analysis for as many as 51 elements.
The analysis is also going to include analysis for tellurium and gold. It was also announced by First Tellurium Corp yesterday that the results from the analysis would be made available at some point in the middle of December later on this year. It may be a good time to perhaps add the First Tellurium Corp stock to your watch lists.
Technical Data
FTEL.CA stock is trading below the 20-Day and 50-Day Moving averages of $0.14 and $0.16 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.20.
