Quaterra Discovers New Silver Zone at Nieves
November 14 2012 - 8:30AM
Marketwired
Quaterra Resources Inc. (TSX VENTURE:QTA)(NYSE MKT:QMM)(NYSE
Amex:QMM) and its 50% joint-venture partner Blackberry Ventures I,
LLC, today announced assay results from eight core holes totaling
3,060 meters completed between August and October 2012 at their
Nieves silver property in northern Zacatecas, Mexico.
Hole QTA 190 intersected 0.8 meters of 1,865 grams per tonne
(g/t) silver (54.5 oz/ton) which is part of a larger vein interval
starting at 243.6 meters averaging 341 g/t silver (10.0 oz/ton).
The hole was collared to test an induced polarization (IP) anomaly
on the Orion vein, believed to be a westward extension of the
Gregorio vein located two kilometers to the east. Holes QTA 191 and
QTA 192, drilled 200 meters west and east of QTA 190, intersected
0.85 meters of 289 g/t silver and 1.1 meters of 284 g/t silver
respectively. The new zone is open laterally and at depth.
"These results validate our belief that Nieves is a large,
high-level hydrothermal system with potential to extend well beyond
the limits of mineralization discovered to date," says Nieves
Project Manager Hector Fernandez. "We have always thought that the
vein system extends to the west, and hole QTA 190 confirms it."
Three holes (QTA 185-187) tested coincident IP and geochemical
gold anomalies on the western extension of the Santa Rita vein.
Holes QTA 186 and QTA 187 intersected 5.1 meter intervals averaging
0.7 g/t gold and 0.55 g/t gold respectively. The gold anomalies may
represent the upper levels of deeper and as yet undiscovered silver
mineralization.
Wildcat holes QTA 188 and QTA 189, drilled 2,000 meters further
west from holes QTA 185-187 to test anomalous vein occurrences, did
not intersect significant mineralization.
Dr. Thomas Patton is the qualified person responsible for the
preparation and contents 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. 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 100 g/t; fire assay results are reported for silver assays
greater than 100 g/t. Samples containing more than 1% lead, copper
or zinc were analyzed using AA with aqua regia digestion.
Quaterra Resources Inc. (TSX VENTURE:QTA)(NYSE MKT:QMM)(NYSE
Amex:QMM) 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.
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 or contact Lauren Stope at
604-641-2746 or email: info@quaterra.com.
To view the map associated with this release, please visit the
following link: http://media3.marketwire.com/docs/qmm14-F1.pdf.
November 2012 Nieves Drill Results: Holes QTA 185 to QTA 192
----------------------------------------------------------------------------
From To Interval Au Ag Ag Pb Zn
Hole (m) (m) (m) gfame/t g/t oz/ton % % Area
----------------------------------------------------------------------------
QTA185 17.35 18.45 1.10 0.59 0.1 0.0 0 0.01 Santa
Rita
West
----------------------------------------------------------------------------
QTA185 234.00 238.90 4.90 0.14 2.4 0.1 0 0.02 Santa
Rita
West
----------------------------------------------------------------------------
QTA185 238.25 238.90 0.65 0.35 15.3 0.4 0.01 0.04 Santa
Rita
West
----------------------------------------------------------------------------
QTA185 329.90 330.45 0.55 0.70 18.1 0.5 0.02 0.04 Santa
Rita
West
----------------------------------------------------------------------------
0.0
----------------------------------------------------------------------------
QTA186 17.00 22.10 5.10 0.70 0.9 0.0 0 0.02 Santa
Rita
West
----------------------------------------------------------------------------
includes 17.00 19.50 2.50 1.13 1.1 0.0 0 0.01 Santa
Rita
West
----------------------------------------------------------------------------
QTA186 280.50 286.55 6.05 0.20 10.7 0.3 0.02 0.03 Santa
Rita
West
----------------------------------------------------------------------------
includes 283.90 284.40 0.50 0.77 43.6 1.3 0.1 0.17 Santa
Rita
West
----------------------------------------------------------------------------
----------------------------------------------------------------------------
QTA187 88.05 93.10 5.05 0.55 0.6 0.0 0 0.01 Santa
Rita
West
----------------------------------------------------------------------------
includes 88.05 90.00 1.95 1.03 1.0 0.0 0 0.02 Santa
Rita
West
----------------------------------------------------------------------------
----------------------------------------------------------------------------
QTA188 no significant 5200E
values line
----------------------------------------------------------------------------
----------------------------------------------------------------------------
QTA189 no significant 5200E
values line
----------------------------------------------------------------------------
----------------------------------------------------------------------------
QTA190 167.45 183.60 16.15 0.04 30.6 0.9 0.03 0.08 Orion
(West)
----------------------------------------------------------------------------
includes 167.45 168.50 1.05 0.15 133.0 3.9 0.13 0.72 Orion
(West)
----------------------------------------------------------------------------
QTA190 243.60 248.30 4.70 0.08 340.9 10.0 0.21 0.15 Orion
(West)
----------------------------------------------------------------------------
includes 247.50 248.30 0.80 0.14 1865.0 54.5 1.15 0.69 Orion
(West)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
QTA191 198.75 203.00 4.25 0.10 14.2 0.4 0 0.01 Orion
(West)
----------------------------------------------------------------------------
QTA191 209.00 225.00 16.00 0.05 21.9 0.6 0.01 0.02 Orion
(West)
----------------------------------------------------------------------------
includes 220.95 221.80 0.85 0.06 289.0 8.4 0.12 0.08 Orion
(West)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
QTA192 156.85 158.50 1.65 0.14 191.6 5.6 0.01 0.16 Orion
(West)
----------------------------------------------------------------------------
includes 156.85 157.95 1.10 0.07 284.0 8.3 0.02 0.24 Orion
(West)
----------------------------------------------------------------------------
All holes drilled at 350 degree azimuth, -50 degree inclination.
The TSX Venture Exchange and the American Stock Exchange have
not reviewed and do not accept responsibility for the adequacy or
accuracy of the contents of this news release, which has been
prepared by management.
Contacts: Quaterra Resources Inc. Thomas Patton President and
CEO 604-641-2758 Quaterra Resources Inc. Lauren Stope Manager
Communications 604-641-2746info@quaterra.com www.quaterra.com