Quaterra Resources Shares Tilt Toward Year Low; Partner Releases New Assay Results from Alaskan Gold Project

By MidnightTrader.com Staff,

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Quaterra Resources Inc. ( QMM ) dipped lower after announcing that its joint-venture partner Grande Portage Resources Ltd. has released new assay results from three additional diamond drill holes from the Deep Trench vein and one from the Main Vein on its Herbert Glacier gold project north of Juneau, Alaska.

Hole 311D intersected high grade mineralization in the Deep Trench vein consisting of 6.46 metres of 21.55 grams per tonne gold (0.629 ounces per ton) in a quartz vein showing visible flakes of gold. Another intercept 9.6 meters deeper in the same hole returned 2.32 meters (1.23-meters true thickness) of 4.18 grams per tonne (gpt) gold. Results from other 311 Platform holes include an intercept in 311C of 2.25 metres of 21.22 gpt gold. The strong gold mineralization seen in the 311 Platform holes is located in the shallower portion of the high-grade zone intersected by some of the G Pad holes reported in earlier releases.

QMM is down 0.8% at $0.36 near the year low of $0.32. Shares have a 52-week high of $1.04. QMM has fallen 60% in the last 12 months.

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

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This article appears in: Investing Commodities
Referenced Stocks: QMM

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