Quaterra Resources Drills 352.9 m of 0.42% Copper at Bear Deposit in Nevada

Quaterra Resources Inc. (TSXV:QTA,OTCMKTS:QTRRF,FWB:QR2) announced results from hole B-048, the first core hole of a drill program to explore and further define the Bear deposit, a large porphyry copper system on the company’s 52-square-mile property in the historic Yerington copper district of Nevada.
As quoted in the press release:

Highlights
Hole B-048, drilled vertically to a depth of 3,438 feet, intercepted 1,157.5 feet (352.9 meters) of 0.42% copper beginning at a depth of 1,573 feet. This interval contains several zones of higher grade mineralization, most notably 123.6 feet (37.7 meters) beginning at 2,588.5 feet averaging 1.07% copper, 0.03% molybdenum, 0.036 ppm gold and 0.9 ppm silver, and including 68.3 feet (20.8 meters) beginning at 2,643.8 feet of 1.42% copper, 0.03% molybdenum, 0.05 ppm gold and 1.4 ppm silver (see table below). Hole B-048 is a twin of the Anaconda Mining Company’s historic hole 23B drilled in 1966.

Quaterra President and CEO Thomas Patton stated:

We are pleased with these results, especially the length of the intercept, and the presence of higher-grade mineralization, including small but significant values in molybdenum, gold and silver, in particular, the length of the intercept combined with the extent of mineralization observed from historic drilling indicates the potential for the Bear being a large copper system. We are also encouraged that we may extend similar high-grade mineralization into untested areas in the north of the Bear as suggested by grade-thickness contouring of historic drill holes. Right now exploration is where we want to be, at this stage of the market cycle, we believe the best opportunity for non-dilutive value creation is in lower cost exploration drilling leading to discovery and resource delineation.

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