Deer Horn Metals received permits for the 2011 and 2012 work programs in April and anticipates drilling will commence in about two weeks. The 2011 work program consists of 3150 meters of drilling and 2000 meters of trenching. Our high grade gold silver and tellurium (te) property will have approximately 60 holes totaling 2500 meters of drilling and 1000 meters of trenching on the contact zone. Up to 6 holes totaling 650 meters of drilling and 1000 meters of trenching will be concentrated on the historical tungsten showing.
A high resolution aeromagnetic and radiometric survey will be performed in August to expose other potential areas of mineralization on the Deer Horn property which have not been previously explored. We estimate that to date less than 25% of the Deer Horn property has been tested. At the conclusion of the 2011 work program we anticipate increasing the gold/silver resource calculation for the 2010 NI 43-101 report. In addition we anticipate receiving an initial resource calculation on the tellurium (te). Tellurium is one of the rarest metals in the world and is sought after by both the solar power and electronics industries.
We are looking forward to drilling the tungsten showing on the Deer Horn property. While it was the original reason for the discovery of the Deer Horn property, it has never been drilled. We believe that the potential exists for a sizeable showing and thus another mineral which could add value to the entire property. An update will be provided as work program information is sent back from the field.
Bob Lane P.Geo is the qualified person for the Deer Horn project. Deer Horn Metals would also like to announce that it has granted incentive stock options for the purchase of up to 500,000 common shares at a price of $0.25 per share to a director of the company. The incentive stock options are exercisable on or before June 24/2016. This grant is made pursuant to the company’s stock option plan.