Quaterra Acquires Arimetco Assets At Yerington, Nevada
The Anaconda Copper Company conducted open pit mining at Yerington from 1953 to 1978, producing 1.75 billion pounds of copper from oxide and sulfide ores. Arimetco subsequently used the site for heap leaching of Yerington dumps and ore from the nearby MacArthur mine from 1989 to 2000. Quaterra plans to use the site as the base for its district-wide activities, and will explore the property as part of its ongoing exploration drilling program at its 100%-owned MacArthur property.
“The potential acquisition of this property in the center of a prolific copper district provides us not only with additional exploration targets but also will provide flexibility when considering production alternatives,” says Thomas Patton, Quaterra’s President and CEO.
The MacArthur mine is a fully stripped oxide copper deposit five miles north of the Yerington mine. It was formerly operated by Arimetco and has an historic resource of 29 million tons grading 0.28% copper, including 13 million tons of +0.40% copper. Quaterra recently commenced drilling at MacArthur to confirm the historic resource and to evaluate potential for a larger oxide deposit and possible buried sulfide system beyond the current pit boundaries.
Quaterra is a junior exploration company focused on making significant mineral discoveries in North America. The Company uses in-house expertise and its pipeline of consultants, prospectors and industry contacts to identify, acquire and evaluate prospects in mining friendly jurisdictions with the potential to host large base, precious metal or uranium deposits. The Company’s preference is to acquire a 100% interest in properties through initial evaluation.
Dr. Thomas Patton is the qualified person responsible for the preparation of this release.
On behalf of the Board of Directors,
Thomas Patton, President, Quaterra Resources Inc.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management. Statements contained in this news release that are not historical facts are forward-looking statements as the term is defined in the private securities litigation reform act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. Quaterra relies upon litigation protection for forward looking statements.
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