Quaterra and Eastmain cut sulphides at Chabbie Lake

Vancouver — Quaterra Resources (QTA-V) and joint venture partner Eastmain Resources (ER-T) have completed five diamond drill holes totaling 968 metres on the Chabbie Lake claim block, located in northern Ontario.

Drilling at Chabbie Lake has intersected multiple exhalative horizons comprised of massive to semi-massive sulphide (pyrrhotite-pyrite) and cherty iron formations. The juniors report that in four out of five targets tested, conductors were explained by the presence of sulphide horizons. The target conductor in the fifth hole, CL02-04, is believed to have been cut out by a dyke.

Prospective exhalite horizons measuring 1-to-15.2 metres in thickness were found to be geochemically anomalous in lead, zinc and silver. Several targets remain untested, including a large lozenge-shaped magnetic feature that is believed to represent ultramafic to mafic rocks. Further work is needed to test the economic potential of this magnetic body and other electromagnetic targets on the property.

Meanwhile, in southeast Alaska, Quaterra Resources has completed a helicopter-borne geophysical survey on its wholly-owned Duke Island, copper, nickel, PGE prospect.

The junior states that areas of known mineralization generally fall within broad zones of anomalous conductivity. Results from its geophysical survey have identified 459 high priority anomalies. The largest zone of conductive anomalies occurs on the north side of the Discovery Zone and extends for 2.5 km in an east-west direction. This zone is north of the area drilled by Quaterra last year and is located in an area where no sampling or mapping has been completed.

“The company is extremely encouraged by the survey results which have identified a number of promising anomalies within a general area of known mineralization and permissive geology,” said Tom Patton, president of Quaterra. “Because the potential of the project has grown significantly, the company is initiating discussions with several major mining concerns relating to a possible joint venture relationship.”