Quaterra Announces Increase in Silver Resource at Nieves, Mexico; Shares Up Sharply in Afternoon Trade

By Midnight Trader,  June 27, 2012, 01:59:52 PM EDT

Quaterra Resources Inc. (QTA.V) announced that an updated independent resource estimate has substantially increased contained silver ounces at the Nieves property in northern Zacatecas, Mexico.

Nieves' updated indicated resource of 33.04 million tonnes averaging 50.1 g/t silver (1.61 oz/ton) contains 53.22 million ounces of silver at a base case cutoff grade of 15 grams. The new resource represents a 328% increase in tonnes, a 194% increase in contained silver ounces and a 31.2% decrease in grade compared with the previous August 2010 estimate.

QTA has climbed 18% to 45 cents but has hit day lows. Volume traded is over 17,000.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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