by Mr. Robert Bishop
GMSR Alert #205 — September 7, 2001
(excerpt from)
Quaterra Resources (QTA.CDNX/$0.22) — I’ve owned QTA for a long time, bought, sold it, and, after visiting the company’s Alaskan platinum project in late July, bought some more. (I also wish I’d recommended it at the time.) High platinum grades, multiple zones, and in-your-face geology make the Union Bay project a most compelling exploration target. Platinum grades commonly in the 6-8 gram range, and some much higher, are what make this Ural-Alaska model stand out from the lower grades that characterize most of the Canadian platinum projects. QTA is earning 50% from International Freegold (ITF.CDNX/$.10) and the first drill program is expected to begin by the end of this week. Union Bay is obviously a large system, and given the surface expression of the geology over 550 vertical meters, hitting the target should prove a relatively easy proposition. Grade and the width of the zone are the unanswered questions. I also liked the looks of QTA’s 100% owned Duke Island project, south of Ketchikan, Alaska, and expect that we are likely to learn more about this project in the near-term. Elsewhere in Alaska, on September 4th the company announced that gravity surveys conducted on four separate projects on the Seward Peninsula have returned strong gravity anomalies that are also coincident with geochemical anomalies. A 50/50 joint-venture with Eastmain Resources (ER.T/$.30) on base metals targets in the Abitibi region of eastern Canada, also with an imminent drill program, offer additional opportunities for exploration success. The targets here represent the western extension of the Abitibi Greenstone belt, and were originally in a property portfolio assembled by BHP, before that company curtailed its exploration projects around the world. Previous drilling by the Quaterra/Eastmain joint-venture has been more than a technical success—16 of 17 drill holes intersected massive sulphides—and the previous involvement of BHP is evidence of the world class prospectivity of this base metals portfolio. Although I own shares in each of the exploration companies listed here, Quaterra is the company trading at the lowest premium and the one that holds the greatest number of chances for exploration success. Although it could be purchased for $0.14 two days ago, the announcement of financing and an infusion of new buying had QTA at $0.22 on Thursday. If there’s any appetite for exploration among you, I have considerable difficulty believing that this stock does not double from the current $0.22 between now and year-end. (604) 681-9059, fax 688-4670, quaterraresources.com.
The preceding is copyrighted material and may not be distributed without permission of the author.
Robert Bishop |
