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Be the first with the news that moves the market- Quaterra Resources (TSXV:QTA) has received the technical report for its Groundhog copper-gold prospect in Alaska
- The report states the mineralization on site is similar to Northern Dynasty’s gold project, Pebble Mine, which is five kilometres south of Groundhog
- The technical report recommends follow up mapping to further outline the possible gold resource
- Quaterra Resources (QTA) is in the grey and is trading at C$0.065 per share
Quaterra Resources (TSXV:QTA) has received the technical report on its Groundhog copper-gold prospect in Alaska.
The Groundhog property consists of 54,880 acres of mineral leases, located on top of an already establish porphyry belt.
The technical report outlines a possible copper-gold system at the site.
The report states that Groundhog has excellent potential to host mineralization similar to that found at Pebble Mine, Northern Dynasty’s gold project, which is approximately five kilometres south of Groundhog.
The majority of the exploration work done to feed into the technical report was done along this southern border.
The report also recommends further exploration at Groundhog, specifically the need for more 3D mapping work to build a more accurate mineral profile.
CEO of Quaterra, Gerald Prosalendis said the company was pleased to have received the confirmation that Groundhog could host a copper-gold porphyry system similar to that found at Pebble.
He went on to outline the company’s plans moving forward.
“This year’s program will involve the 3D inversion of the last year’s ZTEM geophysical survey, as recommended by the report.
“This will enable refinement and selection of high-priority targets for ground based IP and drilling possibly next year if circumstances and the availability of funds enable it,” he said.
Groundhog sits in the State of Alaska, on a claim covering the northern extension of a 10-kilometre-wide tending structural zone. The zone hosts a number of porphyry copper-gold prospects, including the one found at Pebble Mine.
Quaterra Resources (QTA) is trading in the grey at $0.065 per share at 11:56 pm EDT.
