2.13 m in feet

Quaterra Resources Announces Positive Assay Results at MacArthur Copper Project, Nevada and Potential for Resource Expansion

Quaterra Resources Inc. (TSXV: QTA) (OTCQB: QTRRF) (the "Company") today announced positive results from a ten-hole core drilling program totaling 5,147 feet (1,569 meters) that was recently completed. The ten-hole program was designed to assess the likelihood that further drilling would upgrade portions of the resource from Inferred to Indicated and expand the overall size of the current resource. Mr. Travis Naugle, CEO states, "We believe that additional drilling could accomplish these exciting objectives." These results are further discussed below and outlined in Table 1 below.

Three holes (QM-319, QM-320, and QM-328) were drilled on the north to northwestern edge of the current resource. Each hole intersected oxide and chalcocite mineralization. Significant intercepts include drill hole QM-320 (31.1 m @ 0.58% Cu, including 22.6 m @ 0.70% Cu); QM-328 (23.5 m @ 0.44% Cu); and QM-319 (10.8 m @ 0.14% Cu). Each drill hole contains additional acid soluble copper intercept (Table 1).

Holes QM-326 and QM-327, drilled on the southern edge of the current oxide resource (Figure 1), each intersected near surface oxide mineralization. Significant intercepts include 6.7 m @ 0.27% Cu and 7.3 m @ 0.70% copper from QM-326 and QM-327, respectively. Both holes also indicate the potential for additional oxide resource expansion to the south and southeast (Figure 2).

Drill holes QM-321 and QM-322 were drilled on the south/southeastern edge of the current oxide resource. Both drill holes intersected near surface oxide mineralization; QM-321 intersected 13.7 m @ 0.17% copper and QM-322 intersected 31.1 m @ 0.11% Cu. Both drill holes also indicate the potential for an additional oxide resource to the south. In addition, QM-322 was collared on a legacy MacArthur sub-grade stockpile, from which 12.3 m @ 0.13% copper was identified. The MacArthur sub-grade stockpile has not previously been sampled but based on these results, the Company may consider evaluating it for additional resource potential.

It is expected that the above results could increase the resource (Figure 2) and upgrade a portion of the current resource from inferred to measured/indicated status. The MacArthur resource estimate is in the process of being updated by Independent Mining Consultants (IMC); it is expected to be completed before the end of 2021.

Two additional drill holes (QM-323 and QM-324) were drilled to explore for additional oxide resource farther east and infill from previous oxide intercepts in this area. Each drill hole identified short, scattered oxide intercepts, and identified additional chalcocite and chalcopyrite mineralization. QM-323 includes 24.4 m @ 0.20% copper in the form of chalcopyrite and QM-324 includes 9.8 m @ 0.39% copper in the form of chalcocite and chalcopyrite. Please see Table 1 for additional intercepts. The potential for additional drilling in this area is under further evaluation.

Drill holes QM-319 and QM-320 were drilled to depths of 243.8 m and 362.3 m, respectively, to test under-drilled induced polarization geophysical anomalies. Both drill holes intersected zones of primary mineralization, occurring as wispy quartz-sericite-biotite-sulfide veinlets/vein haloes, which are commonly associated with porphyry-style mineralization in the Yerington District. These two drill holes provide important guidance for primary sulfide drilling in future programs.

TABLE 1. SIGNIFICANT INTERCEPTS
Drill HoleFrom
(feet)
To
(feet)
Interval
(feet)
Interval
(meters)
%
TCu
Mineralization
Type
HOLE QM-319136171.535.510.80.14oxide
 2212694814.60.13chalcocite
HOLE QM-320621155316.20.17oxide
 203.524137.511.40.29oxide & chalcocite
 272378.5106.532.50.58oxide & chalcocite
includes3013757422.60.70oxide & chalcocite
 95510277221.90.11chalcopyrite
HOLE QM-32150954513.70.17oxide
 135.5166.5319.40.19oxide
HOLE QM-32211.540.5298.80.13MacArthur dump oxide
 33845011234.10.11oxide
HOLE QM-323255272.617.65.40.32chalcopyrite
 332.5343.5113.40.24chalcopyrite
 353.537622.56.90.11chalcopyrite
 3994798024.40.20chalcopyrite
HOLE QM-324218250329.80.39chalcocite & chalcopyrite
 264.527510.53.20.20chalcocite
HOLE QM-3261739226.70.27oxide
 159190.531.59.60.11oxide
 312327.515.54.70.19chalcopyrite
 364375113.40.19chalcopyrite
HOLE QM-32718.542.5247.30.70oxide
 96128.532.59.90.13oxide
 234.526025.57.80.22oxide
HOLE QM-3281942717723.50.44chalcocite

 

*Drill intercepts are based on actual core lengths and may not reflect the true width of mineralization

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/1020/98721_Figure%201%20Plan%20Map_550.jpg

Figure 1, Plan Map

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/1020/98721_Figure%201%20Plan%20Map.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/1020/98721_Figure%202%20Section1_550.jpg

Figure 2, Section 1

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/1020/98721_Figure%202%20Section1.jpg

Quality Assurance and Control

All drilling described is from core, contracted to National EWP, Elko, Nevada. Core samples were either sawed or split by SPS personnel in Yerington, Nevada and shipped to Skyline Assayers and Laboratories in Tucson, Arizona for sample preparation. Copper analyses were assayed using their "SEA-Cu" (total copper) "SEACuSEQ" (sequential copper leach) procedure with a 50 ppm detection limit. Commercially prepared standards and blanks are inserted by SPS at 50-foot intervals to insure precision of results as a quality control measure. SPS has a chain of custody program to ensure sample security during all stages of sample collection, cutting, shipping, and storage.

Technical information in this news release was approved by Thomas Patton, Chairman to the Company and a qualified person as defined in NI 43-101.

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 and 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, Quaterra Resources Inc.

For more information please contact:

Karen Robertson
Corporate Communications
778-898-0057

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

Disclosure note:

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/98721

News Provided by Newsfile via QuoteMedia

The Conversation (0)
Vancouver with a push pin on map.

British Columbia Creates New Ministries for Energy and Mining

British Columbia (BC) has introduced two new ministries designed to focus on advancing its goals for clean energy and critical mineral development.

Premier David Eby announced on November 18 the restructuring of the former Ministry of Energy, Mines, and Low Carbon Innovation, which will now be split into the Ministry of Energy and Climate Solutions and the Ministry of Mining and Critical Minerals.

The changes reflect the province's commitment to addressing climate change and seizing opportunities in critical mineral production to support the global energy transition.

Keep reading...Show less
Impact Minerals

Impact Receives $512,000 from Research and Development Rebate

Impact Minerals Limited (ASX:IPT) is pleased to announce that it has received a rebate of $512,000 before costs from the Research and Development Tax Incentive scheme for the financial year ending June 2024.

Keep reading...Show less
Rimfire Pacific Mining Limited

Bald Hill Confirmed as a High-Grade Cobalt Opportunity

Rimfire Pacific Mining (ASX: RIM, “Rimfire” or “the Company”) is pleased to advise that all remaining drill assays have now been received for a step out diamond drilling program completed during the September 2024 Quarter at the 100% - owned Bald Hill Cobalt Copper Prospect which is located approximately 30 kilometres west of Broken Hill, NSW (Figure 1).

Keep reading...Show less
Map showing Québec, Canada.

Québec's Copper Resource Offers New Opportunities for Investment

As the global journey toward electrification and decarbonization continues to ramp up, Canada’s role as a geopolitically stable source of the key minerals enabling this transition is increasingly evident, driving the need for the development of new and sustainable copper supply across the country.

In 2022, Canadian mine production accounted for approximately 2.4 percent of the global total, which stood at around 22 million metric tons. BC currently leads the nation in copper production, followed by Ontario, which produced approximately 159,432 metric tons of copper in 2022.

Québec, Canada's second largest province, is emerging as a significant player in the global copper industry. With its rich geological formations and strategic location, Québec offers substantial opportunities for copper exploration and mining.

Keep reading...Show less
Table and chairs in boardroom.

American Pacific Gains Full Ownership of Palmer VMS Project, Secures US$10 Million

American Pacific Mining (CSE:USGD,OTCQX:USGDF) has entered into an agreement to fully acquire the Palmer volcanogenic massive sulfide (VMS) project, located in Southeast Alaska, US.

The deal, which is between American Pacific, its subsidiary Constantine North and Dowa Metals & Mining Alaska, involves the transfer of Dowa’s stake in Constantine Mining, the entity that is overseeing Palmer.

Constantine North will receive Dowa's interest in Palmer, and Dowa will pay American Pacific US$10 million in exchange for an option to purchase up to 50 percent of the zinc concentrate produced during the project’s initial and subsequent years of production. Certain indemnities are also outlined in the purchase terms.

Keep reading...Show less

Ero Copper Files Technical Report for the Furnas Copper-Gold Project

Ero Copper Corp. (TSX: ERO, NYSE: ERO) ("Ero" or the "Company") announces it has filed the Technical Report for the Furnas Copper-Gold Project related to the initial National Instrument 43-101 ("NI 43-101") compliant mineral resource estimate previously announced on October 2, 2024.

The Technical Report was prepared in accordance with the Canadian Securities Administrator's National Instrument 43-101 – Standards of Disclosure for Mineral Projects, and can be found on the Company's website ( www.erocopper.com) and on SEDAR+ ( www.sedarplus.ca/landingpage/). A copy of the Technical Report will also be filed on EDGAR ( www.sec.gov).

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×