qtrrf

Quaterra Provides Update on Water Rights

Quaterra Resources Inc. (TSXV: QTA) ("Quaterra" or the "Company") announces that on July 23, 2021 it received notice from the State of Nevada that the State has not approved extensions of three water rights permits purchased by its subsidiary, Singatse Peak Services, LLC ("SPS") in 2011. The State also advised that a fourth permit would not be extended after a period of an additional year. Prior to the notice, the Company believed it held a total of seven water rights permits providing for usage of approximately 6,014 acre-feet of water annually for mining and milling purposes in Yerington, Nevada.

The four permits in question were extended regularly by the State during the period 2011 through 2020. The notice from the State was in response to the Company's extension application filed in November of 2020. The basis for not granting a renewal of the permits included increased demand on the available water from other users, and non-use of the water by the Company for mining and milling purposes since 2011.

During this same period, the company invested into exploration of the Yerington copper properties to better assess their potential for development. The Company reiterates its commitment to the development of the MacArthur oxide copper project, noting that the pre-feasibility drilling program (see News Release of May 7, 2021 for details) is ongoing, with drilling to date of 9,633 feet.

The Company has the right to appeal the State's decision within 30 days from the date of the notice and has retained legal counsel to initiate and vigorously undertake the appeal process.

The Company is considering the implications of the State notice on its ongoing advancement of the MacArthur copper oxide project, and on the prior sales of a portion of the permitted water rights.

About Quaterra Resources Inc.

Quaterra Resources Inc. is a copper-gold exploration company focused on projects with the potential to host large-scale mineral deposits attractive to major mining companies. It is advancing its Yerington copper project in the historic Yerington Copper District, Nevada. It continues to investigate opportunities to acquire prospects in North America on reasonable terms and the partnerships with which to advance them.

On behalf of the Board of Directors,
Stephen Goodman
President

For more information please contact:
Karen Robertson
Corporate Communications
778-898-0057

Email: info@quaterra.com
Website: www.quaterra.com

Some statements in this news release are forward-looking statements under applicable United States and Canadian laws. These statements are subject to risks and uncertainties which may cause results to differ materially from those expressed in the forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date thereof. The Company does not undertake to update any forward-looking statement that may be made from time to time except in accordance with applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91170

News Provided by Newsfile via QuoteMedia

The Conversation (0)
A person's hand holds a piece of copper metal ore above a blurry copper-colored background.

What's the Next US Copper Mine? 26 Copper Projects to Watch

Companies with upcoming copper mines in the US could be poised to benefit from tailwinds in the sector, including the new administration promising to cut "red tape" for critical minerals projects.

Copper demand is climbing quickly in recent years because of the rapid urbanization of the global south as well as the developing energy transition sectors. However, current copper mines are increasing in age and there is a lack of new copper mines to replace them, both due to limited greenfield exploration and long permitting times.

This has put the world's copper supply in a difficult situation, and experts expect to see supply deficits begin to emerge in 2025.

Keep reading...Show less
Rows of fine copper bars with text that reads '5 Top Canadian Mining Stocks This Week.'

Top 5 Canadian Mining Stocks This Week: Euro Sun Gains 54 Percent as Copper Hits New High

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.

The US Bureau of Economic Analysis released February personal consumption expenditures (PCE) index data on Friday (March 28). The figures show inflation increased 2.5 percent on an annualized basis in February, aligning with analyst expectations and reflecting no change from the 2.5 percent recorded in January. On a monthly basis, inflation rose by 0.3 percent, also matching January’s increase.

However, core PCE, which excludes the volatile food and energy prices, increased 2.8 percent year-over-year and 0.4 percent month-over-month. Both came in above analyst expectations of 2.7 and 0.3 percent, respectively.

Keep reading...Show less
Copper nuggets and rising chart.

Copper Prices Surpass US$10,000 as US Tariff Fears Shake Global Markets

Copper prices surged past US$10,000 per metric ton on Thursday (March 20), hitting a five month high as traders scrambled to secure supply ahead of potential US tariffs on the base metal.

London Metal Exchange (LME) copper futures climbed sharply in early trading, reflecting a combination of supply constraints, rising demand and uncertainty surrounding trade policy.

US President Donald Trump has ordered a probe into the national security implications of copper imports, raising concerns that a 25 percent tariff could be imposed, similar to levies already placed on aluminum and steel.

Keep reading...Show less
Copper nuggets.

Hillgrove Accelerates Nugent Copper Deposit Development, Raises AU$16 Million

Hillgrove Resources (ASX:HGO,OTC Pink:HLGVF) said on Monday (March 17) that it is accelerating development of the Nugent deposit at its Kanmantoo copper mine after raising AU$16 million.

The company secured AU$13 million through a placement to institutional and sophisticated investors, and raised AU$3 million via a share purchase plan that was open to existing shareholders.

"Following the success of the recent excellent Nugent drilling results, our technical team have identified a path to accelerate the Nugent production profile,” said CEO and Managing Director Bob Fulker in a March 5 release.

Keep reading...Show less
The sea floor.

Kiribati Explores Deep-Sea Mining Deal with China Amid Global Regulatory Talks

Kiribati is reportedly in discussions with China to explore deep-sea mining opportunities, signaling a potential shift in its approach to tapping into its vast offshore mineral resources.

The Pacific island nation holds the exploration rights to a 75,000 square kilometer area in the Pacific Ocean, a region believed to contain valuable deposits of cobalt, nickel, and copper — key materials for the global battery industry.

The talks between Kiribati and Chinese officials come after the collapse of a previous agreement with the Metals Company (TMC) (NASDAQ:TMC), a Canada-based deep-sea mining outfit.

Keep reading...Show less

Latest Press Releases

Related News

×