Herbert Glacier Project, Alaska (Gold)
The Herbert Glacier project is an early stage, partially drill-tested, high-grade, gold mineralized mesothermal quartz vein system in the historic Juneau Gold Belt of southeast Alaska. Consisting of 91 unpatented lode claims located 20 miles north of Juneau and 25 miles south of Couer Alaska´s new Kensington gold mine, the property covers five parallel vein structures exposed at the toe of a retreating glacier.
On June 17, 2010, Quaterra announced that it signed an option agreement with Grande Portage Resources Ltd. whereby Grande Portage may earn up to a 65% interest in the Herbert Glacier gold property located 20 miles north of Juneau, Alaska, by spending US$1.25 million in two stages - a 51% interest in the property by spending US$750,000 on or before June 15, 2011, and the option to earn an additional 14% interest by spending US$500,000 on or before June 15, 2012.
