VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 26, 2011) -
The program was designed to test numerous IP anomalies on several separate vein systems that appeared similar to other anomalies associated with known mineralization.
Highlights include:
"The current phase of drilling has doubled the strike length of the North Gregorio vein, intersected stockwork style mineralization on the California vein and extended the higher grade La Quinta zone to the west," says Tom Patton, Quaterra's President and CEO. "Mineralization remains open for expansion on both the east and west ends of the Concordia and North Gregorio veins and is open to the east on the California vein."
Currently, six to eight additional holes are being completed to test open-ended mineralization on the Concordia, Gregorio North and California veins.
Dr. Thomas Patton is the qualified person responsible for the preparation of this news release.
Exploration maps illustrating all of these features are posted on the Quaterra website. A table of drill-hole results is attached to this news release and posted on the Company's website. All holes were drilled at an azimuth/inclination of 340 degrees/-60 degrees. True thicknesses are about 80% of intercept widths reported.
Core samples were prepped and analyzed by ALS Chemex in Guadalajara, Mexico, and Vancouver, B.C., respectively. Property-specific standards were routinely submitted with each batch of samples. Samples were initially run using a conventional 35-element ICP analysis with an aqua regia digestion process. A 30-gram fire assay with gravimetric finish for gold and silver was run on all samples. ICP results are reported for silver values up to 100g/t; fire assay results are reported for silver assays > 100g/t. Samples containing more than 1% lead, copper or zinc were analyzed using AA with aqua regia digestion.
Quaterra Resources Inc. (NYSE Amex:QMM)(TSX VENTURE: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. The Company's preference is to acquire a 100% interest in properties on reasonable terms and maintain this interest through initial exploration and evaluation.
On behalf of the Board of Directors,
Dr. Thomas Patton, President and CEO, Quaterra Resources Inc.
Some statements contained in this news release are forward-looking statements within the safe harbor of the Private Securities Litigation Reform Act of 1995. These statements generally are identified by words such as the Company "believes", "expects", and similar language, or convey estimates and statements that describe the Company's future plans, objectives or goals. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Further information regarding risks and uncertainties which may cause results to differ materially from those projected in forward-looking statements, are included in filings by the Company with securities regulatory authorities. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date thereof. The Company does not undertake to update any forward-looking statement that may be made from time to time except in accordance with applicable securities laws. References may be made in this press release to historic mineral resource estimates. None of these are NI 43-101 compliant and a qualified person has not done sufficient work to classify these historic estimates as a current mineral resource. They should not be relied upon and Quaterra does not treat them as current mineral resources.
Expanded information on the Company's projects is described on our website at www.quaterra.com.
January 2011 Nieves Drill Results: Holes QTA112 - QTA130 |
Hole | Area | From | To | Interval (m) |
Au (g/ tonne) |
Ag (g/ tonne) |
Ag (oz/ ton) |
Pb (%) |
Zn (%) |
QTA112 | Gregorio N | 64.80 | 74.20 | 9.40 | 0.15 | 7 | 0.2 | 0.00 | 0.01 |
QTA113 | Gregorio N | 113.55 | 116.00 | 2.45 | 0.03 | 40 | 1.2 | 0.02 | 0.02 |
138.50 | 146.95 | 8.45 | 0.06 | 16 | 0.5 | 0.01 | 0.02 | ||
179.10 | 188.65 | 9.55 | 0.03 | 16 | 0.5 | 0.02 | 0.04 | ||
QTA114 | Gregorio N | 8350 | 108.15 | 24.65 | 0.23 | 11 | 0.3 | 0.01 | 0.01 |
126.00 | 162.65 | 36.65 | 0.08 | 20 | 0.6 | 0.01 | 0.03 | ||
159.00 | 162.65 | 3.65 | 0.18 | 132 | 3.9 | 0.07 | 0.10 | ||
QTA115 | Gregorio N | 2.00 | 28.55 | 26.55 | 0.21 | 19 | 0.6 | 0.02 | 0.04 |
includes | 22.50 | 28.55 | 6.05 | 0.22 | 59 | 1.7 | 0.06 | 0.13 | |
58.25 | 62.90 | 4.65 | 0.14 | 66 | 1.9 | 0.03 | 0.07 | ||
152.00 | 173.65 | 21.65 | 0.13 | 32 | 0.9 | 0.02 | 0.04 | ||
QTA116 | Gregorio N | 58.05 | 73.70 | 15.65 | 0.08 | 17 | 0.5 | 0.02 | 0.06 |
148.85 | 187.50 | 38.65 | 0.10 | 23 | 0.7 | 0.02 | 0.03 | ||
includes | 180.70 | 183.15 | 2.45 | 0.25 | 120 | 3.5 | 0.07 | 0.16 | |
QTA117 | Gregorio N | 70.75 | 85.00 | 14.25 | 0.13 | 14 | 0.4 | 0.00 | 0.01 |
132.00 | 140.00 | 8.00 | 0.16 | 56 | 1.6 | 0.03 | 0.06 | ||
QTA118 | Gregorio N | 85.50 | 87.75 | 2.25 | 0.03 | 24 | 0.7 | 0.01 | 0.02 |
99.50 | 101.05 | 1.55 | 0.03 | 27 | 0.8 | 0.01 | 0.03 | ||
146.10 | 148.30 | 2.20 | 0.27 | 34 | 1.0 | 0.01 | 0.03 | ||
154.50 | 157.85 | 3.35 | 0.10 | 31 | 0.9 | 0.03 | 0.12 | ||
181.95 | 182.20 | 0.25 | 1.20 | 1175 | 34.3 | 0.85 | 1.60 | ||
205.00 | 210.05 | 5.05 | 0.03 | 21 | 0.6 | 0.02 | 0.06 | ||
221.10 | 224.30 | 3.20 | 0.03 | 57 | 1.7 | 0.14 | 0.21 | ||
QTA119 | Concordia W | 106.70 | 108.50 | 1.80 | 0.52 | 88 | 2.6 | 0.18 | 0.33 |
136.55 | 142.10 | 5.55 | 0.04 | 30 | 0.9 | 0.02 | 0.04 | ||
158.10 | 218.05 | 59.95 | 0.04 | 17 | 0.5 | 0.05 | 0.07 | ||
QTA120 | Concordia W | 48.10 | 52.50 | 4.40 | 0.33 | 15 | 0.4 | 0.00 | 0.02 |
includes | 51.85 | 52.50 | 0.65 | 1.80 | 71 | 2.1 | 0.01 | 0.07 | |
170.60 | 182.30 | 11.70 | 0.06 | 36 | 1.1 | 0.04 | 0.27 | ||
QTA121 | Dolores E | 109.30 | 109.85 | 0.55 | 0.61 | 16 | 0.5 | 0.00 | 0.12 |
QTA122 | Gregorio N | 60.20 | 67.10 | 6.90 | 0.08 | 14 | 0.4 | 0.00 | 0.01 |
QTA123 | Concordia W | 103.60 | 181.70 | 78.10 | 0.06 | 69 | 2.0 | 0.07 | 0.08 |
includes | 103.60 | 134.85 | 31.25 | 0.11 | 149 | 4.4 | 0.12 | 0.14 | |
includes | 114.40 | 128.25 | 13.85 | 0.12 | 290 | 8.5 | 0.20 | 0.24 | |
includes | 117.20 | 117.45 | 0.25 | 1.82 | 6320 | 184.5 | 2.96 | 2.94 | |
QTA124 | Santa Rita | 118.00 | 124.60 | 6.60 | 0.03 | 30 | 0.9 | 0.06 | 0.09 |
QTA125 | Dolores | 84.00 | 87.70 | 3.70 | 0.23 | 11 | 0.3 | 0.00 | 0.02 |
210.00 | 225.00 | 15.00 | 0.05 | 23 | 0.7 | 0.02 | 0.04 | ||
QTA126 | Santa Rita | no significant values | |||||||
QTA127 | California | no significant values | |||||||
QTA128 | California | 128.00 | 131.00 | 3.00 | 0.07 | 13 | 0.4 | 0.01 | 0.02 |
QTA129 | Gregorio N/Orion | no significant values | |||||||
QTA130 | California | 22.00 | 30.00 | 8.00 | 0.05 | 79 | 2.3 | 0.03 | 0.1 |
includes | 26.00 | 28.00 | 2.00 | 0.07 | 215 | 6.3 | 0.08 | 0.17 | |
80.10 | 83.00 | 2.90 | 0.03 | 108 | 3.2 | 0.04 | 0.24 | ||
99.00 | 105.00 | 6.00 | 0.03 | 89 | 2.6 | 0.03 | 0.03 | ||
includes | 103.00 | 105.00 | 2.00 | 0.03 | 235 | 6.9 | 0.09 | 0.05 | |
157.00 | 158.90 | 1.90 | 0.05 | 119 | 3.5 | 0.04 | 0.10 |
Contact Information: Quaterra Resources Inc.
Gerald Prosalendis
604-641-2746
corpdev@quaterra.com
www.quaterra.com