Quaterra Drilling Significantly Expands Acid-Soluble Copper Zone At Macarthur
VANCOUVER, B.C. — Quaterra Resources Inc. 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.
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.
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. (NYSE Amex: QMM; TSX-V: QTA) 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.
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