- Published: 21 April 2010
- Written by Editor
Quaterra Drilling Significantly Expands Acid-Soluble Copper Zone at Macarthur
Quaterra Resources Inc. (TSX VENTURE: QTA.V)(NYSE Amex: QMM) today announced that recent drilling has significantly expanded the extent of copper mineralization at its 100%-owned MacArthur copper project in the Yerington district, Nevada. A total of 19,110 feet have been drilled in 32 reverse circulation holes and three deep core holes since the program recommenced in December 2009.
The Company's 2009-2010 reverse circulation drilling program is targeting locations on a 500 feet by 500 feet grid to extend the known resources of the project while investigating the open margins of the higher grade intercepts in undrilled areas around the MacArthur pit. The program has tested undrilled areas north and west of the pit; expanded the partially explored Gallagher area; and, has begun to delineate the extent of mineralization in the Northwest Target area located 2,500 feet northwest of the pit. An update of drill-hole intercepts through April 15, 2010, is shown in Table 1.
In-fill area
Assay results from the recent round of drilling have demonstrated the continuity of both chalcocite and primary chalcopyrite mineralization in a previously undrilled terrain north and west of the oxide resource at the MacArthur Pit. Drill holes QM-94, 95, 96, 97 and 98, located along an east west section approximately 1,000 feet north of the pit, intersected copper over a strike length of 2,000 feet with chalcocite mineralization ranging from 0.16% copper over a thickness of 70 feet to 0.50% copper over a thickness of 45 feet. This zone is underlain by chalcopyrite mineralization averaging about 0.25% copper over a thickness of 20 to 105 feet.
Gallagher area
In the Gallagher area, 2,000 feet west of the MacArthur Pit, drilling has identified new oxide and chalcocite mineralization in six shallow holes over an area of 1,500 feet by 1,000 feet (holes QM-90, 91, 105, 106, 112 and 113). The zone remains open to the west, south and northwest. Drill hole QM-90 intersected 290 feet averaging 0.22% copper from the surface as oxide and mixed oxide with chalcocite. QM-106, the southernmost of the Gallagher holes, intersected copper oxide, chalcocite and chalcopyrite over a thickness of 20 feet averaging 0.77% copper at a depth of 185 feet and a thickness of 70 feet averaging 0.40% copper at a depth of 220 feet.
Northwest Target area
Drill hole QM-120 located 2,500 feet northwest of the pit, intercepted a thickness of 100 feet averaging 0.47% copper at a depth of 285 feet. The mineralization consists of chalcocite coatings on chalcopyrite. The zone remains open to the west, north and to depth. QM-120 is located approximately 1,000 feet southwest of QM-60 which intercepted similar chalcocite and chalcopyrite mineralization grading 0.38% copper over 260 feet starting at a depth of 140 feet. Mineralization and alteration at the Northwest Target is characteristic of both secondary and porphyry-style primary copper mineralization within a zone that has been recognized in four widely-spaced historical holes that returned up to 0.5% copper over 50 feet starting at a depth of 600 feet.
"We are expecting a significant increase in MacArthur's inferred copper resources as a result of this program," says Eugene Spiering, Quaterra's VP Exploration. "The strength and areal extent of mineralization in the Gallagher and Northwest Target areas present compelling cases for a continuation of step-out drilling in both areas."
North Porphyry Target
Quaterra's recent drilling program also included a test of the North Porphyry Target at an undrilled location 2,500 feet north of the MacArthur pit. The North Porphyry Target was identified by three earlier Quaterra drill holes that intersected porphyry copper style sulfide mineralization below the low-angle MacArthur fault zone over a strike length of 1,000 feet along the northernmost drill fence at that time:
QM-68: 1.19% copper over a thickness of 110 feet at a depth of 485 feet.
QM-70: 0.82% copper over a thickness of 60 feet at a depth of 420 feet.
QM-72: 1.20% copper over a thickness of 15 feet at a depth of 770 feet.
Quaterra followed up these intercepts with an Induced Potential-Resistivity (IPR) survey during the fall of 2009 that identified five prospective targets north and northwest of the mineralized QM-68, 70, and 72 drill fence.
Quaterra staff, assisted by consultant geologist John Proffett, a porphyry copper and Yerington district expert, then combined geology and geophysical data to select three targets for core drilling with rotary pre-collars. Hole QM-100, located 1,400 feet north of QM-68, intercepted porphyry-style chalcopyrite/biotite-chlorite veining at a depth 1,203 feet that assayed 0.58% copper over a thickness of 65 feet below the shallow-dipping MacArthur fault zone. QM-109, spotted on an IPR anomaly, failed to reach projected depth due to fractured, caving ground while QM-99 intersected massive pyrite impregnated breccia and scattered zones of secondary biotite and chlorite alteration; common elements of a porphyry system.
The North Porphyry target, now supported by significant intercepts in four drill holes over an area of 3000 feet by 1000 feet, remains open in three directions and to depth. Four IPR targets, located north or west of the existing drilling, have yet to be tested. Significant porphyry-style alteration including potassic feldspar flooding-pyrite veining, particularly around the ore intercept of hole QM-100, indicate that Quaterra's exploration program is penetrating the margins of a previously unrecognized porphyry center.
Exploration maps associated with this news release are posted on the Quaterra website. An update of drill-hole intercepts through April 15, 2010, is attached to this news release. A complete table of drill-hole intercepts is posted on the Company's website.
Eugene D. Spiering is the Qualified Person with Quaterra Resources responsible for the preparation of this news release.
Quaterra Resources Inc. (TSX VENTURE: QTA.V)(NYSE Amex: QMM) is a junior exploration company focused on making significant mineral discoveries in North America. The Company uses in-house expertise and its network of consultants, prospectors and industry contacts to identify, acquire and evaluate prospects in mining-friendly jurisdictions with the potential to host large and/or high-grade base and precious metal deposits.
On behalf of the Board of Directors,
Dr. Thomas Patton, President and CEO, Quaterra Resources Inc.
Some statements contained in this news release are forward-looking statements within the safe harbor of the Private Securities Litigation Reform Act of 1995. These statements generally are identified by words such as the Company "believes", "expects", and similar language, or convey estimates and statements that describe the Company's future plans, objectives or goals. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Further information regarding risks and uncertainties which may cause results to differ materially from those projected in forward-looking statements, are included in filings by the Company with securities regulatory authorities. 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. References may be made in this press release to historic mineral resource estimates. None of these are NI 43-101 compliant and a qualified person has not done sufficient work to classify these historic estimates as a current mineral resource. They should not be relied upon and Quaterra does not treat them as current mineral resources.
Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this website (or press release), such as "measured," "indicated," and "inferred" "resources," which the SEC guidelines generally prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 40-F which can be requested from us, and is available on our website at www.quaterra.com and at www.sec.gov/edgar.shtml.
Expanded information on the Company's projects is described on our website at www.quaterra.com or contact Nicole Rizgalla at ph: 1-888-456-1112, 604-681-9059 or email: This email address is being protected from spambots. You need JavaScript enabled to view it..
Table 1
QUATERRA RESOURCES INC.
MacArthur Copper Project
Drill Hole intercepts
December 4, 2009 through April 16, 2010
Thick- Total
Drill Angle Total From To ness Cu
Hole Brg / Dip Depth feet feet feet %
----------------------------------------------------------------------------
QM-086 0 degrees/-90 degrees 400.0 No assays above cut-off
QM-087 0 degrees/-90 degrees 500.0 No assays above cut-off
QM-088 180 degrees/-60 degrees 480.0 115 240 125 0.40
including 150 175 25 1.18
255 335 80 0.34
QM-089 0 degrees/-90 degrees 800.00 145 155 10 0.10
190 210 20 0.23
QM-090 0 degrees/-90 degrees 430.00 20 70 50 0.29
90 240 150 0.24
270 290 20 0.18
QM-091 0 degrees/-90 degrees 600.00 70 110 40 0.21
140 150 10 0.53
230 240 10 0.36
QM-092 0 degrees/-90 degrees 400.00 110 120 10 0.28
235 250 15 0.16
QM-093 0 degrees/-90 degrees 400.00 70 85 15 0.13
QM-094 0 degrees/-90 degrees 500.00 20 30 10 0.15
165 175 10 0.16
310 335 25 0.32
395 405 10 0.25
430 440 10 0.45
QM-095 0 degrees/-90 degrees 400.00 95 140 45 0.13
QM-096 0 degrees/-90 degrees 440.00 165 210 45 0.50
230 270 40 0.26
QM-097 0 degrees/-90 degrees 580.00 190 210 20 0.45
370 380 10 0.24
405 510 105 0.28
QM-098 0 degrees/-90 degrees 570.00 140 150 10 0.27
250 320 70 0.16
350 385 35 0.26
425 500 75 0.23
(i)QM-099 0 degrees/-90 degrees 1529.00 No assays above cut-off
(i)QM-100 0 degrees/-90 degrees 1965.00 195 225 30 0.15
1203.5 1268.5 65 0.58
QM-101 0 degrees/-90 degrees 625.00 225 235 10 0.12
425 435 10 0.56
465 495 30 0.11
545 575 30 0.27
QM-102 0 degrees/-90 degrees 700.00 275 295 20 0.15
405 415 10 0.22
445 460 15 0.33
QM-103 0 degrees/-90 degrees 450.00 185 225 40 0.32
250 265 15 0.22
QM-104 0 degrees/-90 degrees 500.00 285 295 10 0.165
QM-105 0 degrees/-90 degrees 405.00 170 180 10 0.45
225 305 80 0.33
QM-106 0 degrees/-90 degrees 400.00 0 30 30 0.52
80 95 15 0.20
125 135 10 0.36
185 205 20 0.77
220 290 70 0.40
QM-107 0 degrees/-90 degrees 425.00 110 125 15 0.13
QM-108 0 degrees/-90 degrees 355.00 95 105 10 0.32
(i)QM-109 180 degrees/-60 degrees 1056.00 0 10 10 0.29
350 360 10 0.11
400 410 10 0.20
QM-110 0 degrees/-90 degrees 400.00 170 195 25 0.17
QM-111 0 degrees/-90 degrees 400.00 165 180 15 0.25
195 235 40 0.16
250 265 15 0.16
QM-112 0 degrees/-90 degrees 400.00 15 165 150 0.15
180 195 15 0.14
315 350 35 0.35
QM-113 0 degrees/-90 degrees 350.00 0 25 25 0.10
60 200 140 0.21
QM-114 0 degrees/-90 degrees 400.00 No assays above cut-off
QM-115 0 degrees/-90 degrees 600.00 No assays above cut-off
QM-116 0 degrees/-90 degrees 600.00 60 70 10 0.13
330 340 10 0.10
385 400 15 0.16
QM-117 0 degrees/-90 degrees 400.00 No assays above cut-off
QM-118 0 degrees/-90 degrees 350.00 60 130 70 0.13
165 175 10 0.14
245 280 35 0.12
QM-119 0 degrees/-90 degrees 550.00 30 80 50 0.15
395 420 25 0.12
440 450 10 0.16
QM-120 0 degrees/-90 degrees 650.00 60 70 10 0.12
85 130 45 0.12
200 225 25 0.22
285 385 100 0.47
including 295 335 40 0.91
(i) denotes core hole
All intervals calculated using 0.1% copper cutoff
REGULATORY NOTE:
The samples from the MacArthur drilling program are prepared and assayed and
by Skyline Assayers & Laboratories in Tucson, Arizona which is accredited by
the American Association for Laboratory Accreditation (A2LA - certificate
no. 2953.01) and by ISO17025 compliant ALS Chemex Laboratories in Sparks,
Nevada.
Neither the TSX Venture Exchange nor its Regulation Services Provider or the NYSE Amex have not reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management.
Contacts
Nicole Rizgalla
Quaterra Resources Inc.
1-888-456-1112 or 604-681-9059
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.quaterra.com
