Business
Quaterra Announces Final Assays from Partner Grande Portage's 2011 Drill Program at Herbert Glacier, Alaska
Quaterra Resources Inc. (TSXV: QTA) (NYSE Amex: QMM) today announced that its partner Grande Por...
About this update from Grande Portage Resources Ltd.
[{"type":"text","content":"\nQuaterra Announces Final Assays from Partner Grande Portage’s 2011 Drill Program at Herbert Glacier, Alaska\n\nQuaterra Resources Inc. (TSXV: QTA) (NYSE Amex: QMM) today announced that its partner Grande Portage Resources Ltd. has received the remaining assays from the last three holes of its 2011 drilling program at the Herbert Glacier gold project located near Juneau, Alaska. \nBest results from the F and G platforms include one intercept in drill hole 11F-1 (97.5 meters to 99.05 meters) averaging 4.35 g/t gold over 1.55 meters; and two intercepts in drill hole 11G-8, one from 177.27 meters to 178.45 meters averaging 50.0 g/t silver and 0.42 g/t gold over an intercept of 1.18 meters and another from 181.22 meters to 182.57 meters averaging 3.43 g/t gold and 10.4 g/t silver over 1.35 meters. The best assay from drill hole 11F-2 was 3.2 g/t gold from 4.52 meters to 5.36 meters (an interval of 0.83 meters). \nGrande Portage has also clarified a previously reported result from drill hole 11I-4 (announced October 12, 2011). Instead of the quoted interval 154.22 meters to 155.18 meters, the correct interval is 3.04 meters from 151.18 meters to 154.22 meters (1.73 meters true thickness) which showed a weighted average of 3.42 g/t gold and 1,328.3 g/t silver. Contained within that zone is a 0.93 -meter interval (151.77 meters to 152.70 meters) which shows the strongest values for silver (4,010g/t), lead (3.18%), zinc (3.12%), copper (0.38%) and antimony (0.62%) received to date on the Herbert Glacier project. Gold also showed well at 7.75 g/t over that interval. Geologically, this intercept occurs near the western limit of exploration on the Main vein immediately beneath the major contact between the normal host quartz diorite and low-grade metasediments and volcanics. This represents a new target type defined by mineralization produced by the sudden changes in geochemistry, and possibly pressure and temperature at the lithologic contact described above. Drilling next year will further test this hypothesis. \nChief Project Geologist Carl Hale, CPG and consultant Charles Hawley, Ph.D. have identified numerous target areas to be drilled in 2012. Grande Portage intends to use two drills throughout the next phase. A drill with depth capability of an approximate maximum 1,500 feet (458 meters) using NQ diameter has been contracted...