Published: October 29th, 2011 07:56 PM
Last Modified: October 29th, 2011 07:57 PM
JUNEAU -- Canada-based Quaterra Resources Inc. has announced a joint venture to further explore and develop the Herbert Glacier gold prospect in Southeast Alaska.
The company said it entered the agreement with a subsidiary of Grande Portage Resources Ltd. Grand Portage has 65 percent interest in the project near Juneau. Quaterra has 35 percent.
The prospect lies within an area where production was once hot. A Quaterra news release says overall gold production from the district has topped 7 million ounces and it's gained renewed interest in recent years.
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