NYSE Amex: QMM Last: 0.39Change: -0.01 TSX-V: QTA Last: 0.39Change: -0.02 2012-05-18

 

Project Description

The Herbert Glacier vein structures are separated by an average of 800 feet and typically pinch and swell, but individual veins are as much as 14 feet thick and composite veins up to more than 20 feet across. Rock samples have delineated significant gold mineralization in the vein systems over a total strike length of 7,500 feet. A 2,000-foot strike length of one of the structures has been tested by 5,272 feet of historic drilling in 19 core holes. The shallow angle holes established continuity of gold mineralization in the vein system and found intercepts of up to 14 feet averaging 0.98 oz/t gold.

Quartz veins and sulfidized shear zones have been encountered in every hole at predicted intervals for targeted mineralized zones. Drilling has also confirmed the presence of the Main vein. A parallel vein in the hanging wall of the Main vein, now known as the Ridge vein, has been discovered in each of the holes drilled, and contains sulfides and visible free gold. The Ridge vein is believed to be at 300 meters long. And a Deep Trench vein has been encountered between 321 meters and 326 meters in the deepest hole drilled.

In November 2010, Grand Portage released drill hole data from the C, D and E Platforms at the Herbert Glacier project. The results from the drilling program continue to confirm the identification of major elements of a complex mesothermal gold-quartz system with numerous targets.

Highlights of the drilling program include an intercept (119.76 metres to 120.90 metres) of about one-half ounce gold (17.1 g/t) material in hole 10C-1. Drilling on Platform C also intersected a vein of about 0.86 metres thickness that contained 6.17 Au g/t. At least four more holes should be drilled to adequately appraise Platform C. In addition, drilling on Platform D intercepted a quartz-sulfide vein of about four-metres true thickness and maximum Au content of 6.55 g/t Au over 1.15 metres. (Platform D is about 180 metres due east from Platform A and 350 metres N85E from Platform C. Drilling from Platforms A, C and D track Herbert's Main Vein for about 750 metres intercepting the vein at three general locations).

Drill hole number 10C-2 was planned to test the Main Vein about 200 metres from the mineralized intercept in 10C-1 but was abandoned in order to pursue the Deep Trench vein from Platform E. (The Deep Trench vein had a plus 9 g/t intercept in hole 10B-2 and a mineralized vein of more than 10 meters thickness in 10A-4.) While the Company was gratified that the hole from Platform E was mineralized, the hole had to be abandoned due to drilling conditions at a depth of approximately 100 metres near the projected position of the Deep Trench vein. The Company believes that had the hole gone to depth, it would have allowed projection of the Deep Trench vein for about 600 metres along strike. Intercept of the Deep Trench vein in 10A-4 already suggests a minimum depth projection of 300 metres.

On June 28, 2011 Grande Portage Resources Ltd. announced the completion of the first diamond core hole of its 2011 drill campaign at the Herbert Glacier gold project. Grande Portage said it intersected the Deep Trench vein from 342 feet to 380 feet. Strong quartz-veined intervals were found from 352 to 355 feet, 365 to 368 feet and 372 to 377.5 feet. Initial inspection showed visible gold in several locations throughout the mineralized intercepts. Grande Portage said that expedited core sample analysis would be requested. Grande Portage commenced drilling at Herbert Glacier on June 21. It plans to drill at least 3,330 meters from about 22 holes drilled from eight different platforms that will test up to four major veins. Grande Portage has the right to earn a 65% interest from Quaterra in the property by spending US$1.25 million on or before June 15, 2012. It has said it intends to earn its 65% during this summer´s drilling season.



A scarcity of new discoveries and long lead times ensures exploration successes will be rewarded.