{"id":1154890,"date":"2019-12-11T08:20:00","date_gmt":"2019-12-11T14:20:00","guid":{"rendered":"https:\/\/www.mining.com\/?p=1008865"},"modified":"2019-12-11T08:20:00","modified_gmt":"2019-12-11T14:20:00","slug":"quaterra-gets-its-hands-on-butte-valley-prospect","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1154890","title":{"rendered":"Quaterra gets its hands on Butte Valley prospect"},"content":{"rendered":"<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p>Quaterra said it is looking for a partner with which to explore the Butte Valley system, including a program of data compilation and geophysics to define targets for several deep drill holes<\/p>\n<div class='d-flex justify-content-center'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<\/blockquote>\n<\/figure>\n<p>Quaterra Resources (TSXV: QTA)  signed two option agreements providing its subsidiary Six Mile Mining with the right to purchase a 100% interest in 678 unpatented mining claims associated with the Butte Valley prospect.<\/p>\n<p>The prospect is a large, partially explored porphyry copper-gold system located in eastern Nevada about 40 miles north of Ely in north-central White Pine County.<\/p>\n<p>According to Quaterra, Butte Valley was discovered in the 1960s through the drilling of a large magnetic anomaly. The sulfide system, which covers an area of at least two square miles, is totally blind and is buried below approximately 2,000 feet of gravels and a gravity slide block. <\/p>\n<p>To acquire the claims associated with the project, Quaterra paid $5,000 to lease the property until August 2020. Thereafter, Quaterra will pay $595,000 in different instalments until August 2024. The Vancouver-based miner has the option to purchase the property at any time for $600,000, less previous amounts paid.<\/p>\n<p>&#8220;With these agreements, we have the opportunity to acquire a strategic land position over the Butte Valley copper-gold target on very reasonable terms and with no onerous long term financial obligations,&#8221; Quaterra&#8217;s president and CEO, Gerald Prosalendis, said in a media statement. &#8220;Butte Valley fits our acquisition profile. It hosts a large porphyry copper-gold system in a mining-friendly state with well-developed infrastructure and where it is feasible to permit, develop and build a mine. It can also be moved to a drill-ready stage relatively quickly because of previous exploration work.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Vancouver-based miner said the Butte Valley prospect fits its acquisition profile.<\/p>\n","protected":false},"author":42,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[369],"tags":[43],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1154890"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/42"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1154890"}],"version-history":[{"count":1,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1154890\/revisions"}],"predecessor-version":[{"id":1154891,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1154890\/revisions\/1154891"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1154890"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1154890"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1154890"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}