- Quaterra Resources (QTA) has announced the company will begin a drill program in early May at its MacArthur copper oxide project
- The project is located in the Yerington District, Nevada
- The company expects to conduct a 7,000 to 10,000-foot core drilling program
- The drill program, with an estimated time frame of 2 to 3 months, is designed to accomplish three objectives
- Quaterra Resources is down 3.23 per cent, with shares of the company trading at C$0.15 at 11:19 am ET
Quaterra Resources (QTA) has announced the company will begin a drill program in early May at its MacArthur copper oxide project.
The project is located in the Yerington District, Nevada. The company expects to conduct a 7,000 to 10,000-foot core drilling program starting the first week of May.
The drill program, with an estimated time frame of 2 to 3 months, is designed to accomplish three objectives.
The company plans to test the area east of the current resource for additional oxide mineralization, upgrade portions of the resource from inferred to indicated status and explore the under-drilled sulfide mineralization which exists beneath the oxide mineral resource.
This drilling program is the first major step toward the completion of a pre-feasibility study (PFS). The company estimates that completion of the PFS will require 12 to 15 months and expenditure of US$3.5 million to $4.0 million.
The successful completion of the PFS will substantially de-risk the project and inform whether the project should proceed to permit, development, construction and operation. The PFS will include a trade-off study to compare building an on-site acid plant versus shipment of acid from off-site, which could further reduce capital costs.
Quaterra Resources is a copper-gold exploration company focused on projects with the potential to host large-scale mineral deposits attractive to major mining companies. It is advancing its Yerington copper project in the historic Yerington Copper District, Nevada. It continues to investigate opportunities to acquire prospects in North America on reasonable terms and the partnerships with which to advance them.
Quaterra Resources is down 3.23 per cent, with shares of the company trading at C$0.15 at 11:19 am ET.
