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Quaterra Announces Results of 2019 Exploration Program at Groundhog Copper-gold Prospect, Alaska
Vancouver, British Columbia--(Newsfile Corp. - January 9, 2020) - Quaterra Resources Inc. (TS...
About this update from Lion Copper And Gold Corp
[{"type":"text","content":"Quaterra Announces Results of 2019 Exploration Program at Groundhog Copper-gold Prospect, AlaskaVancouver, British Columbia--(Newsfile Corp. - January 9, 2020) - Quaterra Resources Inc. (TSXV: QTA) (OTCQB: QTRRF) (\"Quaterra\" or the \"Company\") and Chuchuna Minerals Company (\"Chuchuna\") today announced the results of the 2019 geophysical and geologic exploration program conducted at the Groundhog copper-gold prospect, a 54,880-acre property situated on an established copper-gold porphyry belt 300 kilometers southwest of Anchorage, Alaska.During August and September 2019, Geotech of Ontario, Canada, completed a 1,664 line kilometer ZTEM and magnetic survey covering 165 square miles of the Groundhog property. A review of the data resulted in the selection of 19 targets that were ranked using ZTEM responses from similar porphyry systems, including the Pebble Project porphyry copper, gold and molybdenum deposit, which lies about five kilometers to the southwest of Groundhog. Targets were picked along a resistivity slice at 400-meters in depth from a 2D inversion. Eight top-ranked targets were selected that compare favorably in size and intensity to the ZTEM responses of other mineralized systems in Central and North American mining districts. An additional 11 target anomalies were identified that were less similar to other known deposits.The combined interpretation of all of the geophysical data collected on the Groundhog property to date leads to grouping the ZTEM targets into two areas: the northwest sector associated with the Alpha magnetic anomaly and the southeast sector, an extension of the ZG fault zone area trending northeastward from Pebble. Additional IP and drilling will be required to evaluate these anomalies, but the timing and scope of such programs has yet to be determined. Chuchuna has expanded its land position based on ZTEM results.A limited geologic reconnaissance program of the strongest ZTEM survey targets did not identify any significant geochemical anomalies, due primarily to thick overburden and scarce outcrop. Traverses in Groundhog Creek and White Rock Creek discovered pyritic, argillically altered crystalline igneous dike rocks of uncertain relationship with the Tertiary cover rocks. Argillically altered and pyritized volcanic rocks and gabbros were also sampled in the northern part of the White Rock C...