Quaterra recently announced plans to deepen one of two holes drilled during 2010 at the Willow Creek porphyry molybdenum prospect in southwestern Montana, 40 miles southeast of Missoula and 10 miles northwest of Phillipsburg. The hole will be deepened a minimum of 500 feet to test a strong copper-fluorine-tungsten-zinc anomaly that could indicate underlying molybdenum mineralization.
The Company drilled two vertical core holes totaling 3,789 feet during the third quarter of 2010 but was unable to corroborate unconfirmed reports of significant molybdenum mineralization near the bottom of a 1,700 foot hole drilled in the southeastern part of a large quartz stockwork zone.
Detailed review of down-hole geochemistry revealed that Hole 2 intersected a zone of strongly anomalous copper, fluorine, tungsten, and zinc starting at a depth of 1,600 feet and continuing to bottom at 1,783 feet. This halo is characteristic of the upper parts of molybdenum systems and provides justification for deepening the hole.
