Quaterra Resources today reported excellent evidence of their model for the Nieves silver property in northern Zacatecas, Mexico, as assay results on eight core holes drilled (just over 10k feet total) from August through October come in via the company and its 50% JV partner, Blackberry Ventures I, LLC, offering positive correlation that there is indeed a sizeable, high-level hydrothermal system, potentially stretching well out beyond extant discoveries.
Project Manager at the Nieves, Hector Fernandez, noted the long running analytical modality at QMM which projected the vein system's extents considerably further to the west and how the intersection of 2.62 feet at 54.5 ounces per ton silver in Hole QTA 190 roundly validates the anticipated existence of this larger vein interval, beginning at around 800 feet (average grade of 10 opt Ag). Collaring of the hole to test this westward extension, the Orion vein (considered a projection of the established Gregorio vein 1.2 miles east of the hole), for an induced polarization (NYSE:IP) anomaly, in concert with the other drilling, gives a clear map of the mineralization.
Wildcat holes drilled some 6,500 feet out beyond QTA 185-187 (which tested IP and geochemical vectors on the western Santa Rita vein arm and returned some choice gold values indicating strong potential for a deeper, undiscovered silver body), showed no anomalous vein occurrences/mineralized intersections and gives a clear outline to the rich discoveries. QTA 186 and 187 in particular offer strong evidence, having produced 16.7-foot intervals at average grades of 0.7 g/t and 0.55 g/t gold, making the potential for considerable silver mineralization below a clear geological extrapolation.
QTA 191/192 put in some 656 feet west and east (respectively) of QTA 190, right in the heart of the new target zone, returned 2.79 feet at 289 g/t Ag and 3.6 feet at 284 g/t, and with the entire zone open laterally and at depth, we have an exceptional development opportunity here with an abundant feature set. Big news for QMM who continues to post exciting mineral news like this, with today's discovery coming so shortly after the (Oct 31) announcement that they intersected high-grade gold during the summer 2012 diamond drilling program up at the Herbert Gold Project outside Juneau, Alaska. The company has put up accompanying maps and tables for the Nieves Project on their corporate site with further details and investors are encouraged to take a closer look at the company's rapidly emerging portfolio of interests.
QMM's got a nice foundation of copper in the U.S. with very enticing gold/silver projects in Mexico and other mining-friendly locales. The company has the management and technical muscle to make their considerably large and growing pipeline of assets into a real shareholder return powerhouse.
Qualified Person for today's report was QMM President and CEO, Thomas C. Patton, B.Sc., M.Sc., Ph.D., with core samples handled by ALS Chemex facilities in Guadalajara and Vancouver. Extensive testing included routine insertion of property-specific standards with each sample batch, an initial 35-element ICP battery (with aqua regia digestion), as well as a complete 30-gram fire assay (gravimetric finish for Au/Ag). ICP results are offered for Ag up to 100 g/t with fire assay for anything over that amount, and the samples with over one percent of lead, copper, and/or zinc being handled by AA with aqua regia digestion.
For more information on Quaterra Resources, please visit Quaterra.com
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