VANCOUVER, British Columbia, May 16, 2018 (GLOBE NEWSWIRE) — Deer Horn Capital Inc. (CSE:DHC) (the “Company” or “Deer Horn”), reports that the California Energy Commission mandated last week that most new homes built in the state after January 1, 2020 will require solar panels. The move is part of the state’s effort to cut carbon emissions 40 percent by 2030.
“This legislation in California is indicative of a worldwide trend towards increasing use of solar energy,” said Tyrone Docherty, President and CEO of Deer Horn Capital. “Because the manufacture of solar panels requires silver in varying amounts, and cadmium telluride (CdTe) solar panels also require tellurium, this trend represents a positive development for exploration of our Deer Horn property, which contains both metals.”
Solar panels based on CdTe are the first and only thin film photovoltaic (PV) technology to surpass crystalline silicon PV in economy for a significant portion of the PV market, namely in multi-kilowatt systems. According to the National Renewable Energy Laboratory, CdTe photovoltaic is growing rapidly in acceptance and now represents the second most utilized solar cell material in the world. The first is still silicon.
“Our vision is to turn Deer Horn into Canada’s first silver-gold-tellurium mine,” added Mr. Docherty. “As technology continues to advance worldwide, particularly for solar panels, we believe the demand for silver and tellurium will continue to grow. Certainly this mandate by California Energy Commission lends support to our vision.”
As reported earlier this week, Deer Horn expects to have an updated Preliminary Economic Assessment (PEA) completed for the Deer Horn silver-gold-tellurium property by the end of May. The Deer Horn property is located in north-central British Columbia, 36 kilometers south of Imperial Metals’ Huckleberry copper-molybdenum mine. The updated PEA for Deer Horn, prepared by Moose Mountain Technical Services of Cranbrook, BC, will be based on current metals prices and will include other revised parameters.
On behalf of the board of directors of
Deer Horn Capital Inc.
President and CEO
For further information please contact:
Investor Relations, Craig Doctor
Neither the Canadian Securities Exchange nor its regulations services accepts responsibility for the adequacy or accuracy of this release.
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.