Singatse Peak Services's Yerington Project, Nevada (Copper)
Quaterra Resources Inc's indirectly wholly-owned subsidiary Singatse Peak Services, LLC (SPS) has closed the transaction under which SPS purchased all the assets of Arimetco, Inc., a Nevada corporation, in the Yerington Mining District, Lyon County, Nevada.
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Assets include 4.2 square miles of patented claims and fee mineral properties centered on the former Anaconda open pit copper mine containing an historic resource estimate in excess of four billion pounds of copper, and 8,600 acre feet per year of water rights. This property, together with 9.3 and 13.2 square miles of unpatented claims at Yerington and nearby MacArthur respectively, provides the Company with a dominant land position in the center of a prolific and expanding copper camp.
The acquisition by SPS of historic copper resources and valuable water rights in a mining friendly state with excellent infrastructure presents an opportunity to fast track the project. The Company's first priority will be to convert and expand historic resource estimates into NI43-101 eligible resources.
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