Business
Quaterra Announces Drill Results at Groundhog, Alaska
Vancouver, British Columbia--(Newsfile Corp. - December 6, 2017) - Quaterra Resources Inc. (TS...
About this update from Lion Copper And Gold Corp
[{"type":"text","content":"Quaterra Announces Drill Results at Groundhog, AlaskaVancouver, British Columbia--(Newsfile Corp. - December 6, 2017) - Quaterra Resources Inc. (TSXV: QTA) (OTCQB: QTRRF) (\"Quaterra\" or the \"Company\") today announced that recently completed summer drilling at the Groundhog copper prospect, Alaska, has intersected intrusive rocks and sulfide mineralization commonly associated with porphyry copper mineralization. The Groundhog property is located in an established copper porphyry belt 200 miles southwest of Anchorage, and three miles north of the large Pebble porphyry copper, gold and molybdenum project.The objectives of the reconnaissance drilling program were to determine the source of numerous IP anomalies identified by historic and 2017 surveys and to confirm the prospectiveness of the area for porphyry copper mineralization. Four widely-spaced core holes totaling 4,073 feet — the first ever drilled on the 40,000-acre Groundhog property — were drilled to test induced polarization (IP) anomalies over an area approximately six miles north-south by three miles east-west. The holes targeted only the southernmost of three magnetic anomalies that have been defined on the property by historic surveys and 26.1 kilometers of new IP completed by Zonge International in June and July this year. (For drill hole locations and geophysical features please see map on the Company website at https://www.quaterra.com/groundhog-drill-map-2017/).Hole 3/3A, drilled to a depth of 1,178 feet (S65E at -70 degrees), encountered strong propylitically altered Jurrasic-age gabbro-pyroxenite-basalt basement rocks in the entire hole from 0 to 1,178 feet. The strongly altered and pyritized core was uniformly anomalous in copper (25 to 612 ppm) with scattered anomalous molybdenum (trace to 177 ppm) and gold (trace to 827 ppb). The hole did not penetrate the full extent of the IP anomaly. The strong alteration and anomalous copper, molybdenum, and gold suggest that the hole may be above or adjacent to a porphyry copper system. Hole 4, collared approximately six miles south of Hole 3, encountered variably pyritized and silicified multi-phase intrusive porphyry rocks over its entire 985-foot length (S45E at -77 degrees). The dominant rock was a crowded quartz-plagioclase-potassium feldspar porphyry intruded by a more altered and mineralized feld...