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Quadro Resources Ltd V.QRO

Alternate Symbol(s):  QDROF

Quadro Resources Ltd is primarily engaged in the exploration of business activities. It also involved in the acquisition, development, and evaluation of assets. The company mainly operate in two properties namely Rose Gold property and Staghorn Property. It derives most of its revenues from exploration business and has operations spread across Canada.

TSXV:QRO - Post by User

Post by knoxton Jan 27, 2022 8:07am
Post# 34365806


Quadro Announces Remaining 2021 Assay Results from Staghorn, Central Newfoundland Gold District


27 Jan 202207:01 ET  

Newsfile Corp


Vancouver, British Columbia--(Newsfile Corp. - January 27, 2022) - Quadro Resources Ltd. (TSXV: QRO) (OTCQB: QDROF) (FSE: G4O2) ("Quadro" or the "Company") is pleased to announce the remaining assay results from its 2021 Staghorn gold project, Newfoundland. Further to its November 18, 2021, news release, in which the Company announced the discovery of a new gold zone intersected from the inaugural exploration drill program at its Long Lake property, in Central Newfoundland, Quadro's assays results from four drill holes at Staghorn remained overdue due to assay lab-related delays. After completing the Long Lake drilling, the drill was mobilized to Quadro's Staghorn property where an additional 891 meters were completed in four holes at the southwest end of the Marks Pond zone.

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Figure 1: Quadro's Staghorn and Long Lake/Tulks South projects, Newfoundland.

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These assay results are reported below. Highlights include:

  • MP21-021: A high of 29.1 g/t Au over 0.35m within a 57.0 m wide zone grading 0.33 g/t Au. and 1st definitive visible gold, below the main zone.
  • MP21-023: 1.95g/t Au over 6m.
  • MP21-024: An intercept of 1.1 g/t Au over 5.0m including 1.8 g/t Au over 3.0m, thus extending the Marks Pond Horizon 200 m to the southwest for a total of 626m strike length.

Table 1 - Drill Results from 2021 Staghorn Drilling - Mark's Pond Gold Target

Survey Azimuth/Dip From (m) To (m) Intercept (m) Grade in g/t Comments  
 MP21-021  330/-55 168  255  57  0.33   Undercut of Discovery Hole
 MP21-021   222.9  223.25  0.35  29.1   
 MP21-022  330/-55 156  163  0.61   Undercut of MP21-11
 MP21-023  320/-62 156  158   Undercut of MP20-09
 MP21-023   210  224  14  0.86   
 MP21-023   211  217  1.95   
 MP21-023   211  211.75  0.75  8.73   
 MP21-024  320/-65 121.3  131  9.7  0.62   200m step-out from previous drilling
 MP21-024   123  124  4.79   


* Reported drill intercepts are not true widths. At this time there is insufficient data to calculate true orientations.

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Figure 2: Mark's Pond, Staghorn, Newfoundland.

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Marathon Gold's Valentine Lake deposits are located proximate to the Quadro claims. (Total Measured Mineral Resources (inclusive of the Mineral Reserves) comprise 1.9 Moz (31.7 Mt at 1.86 g/t) with Indicated Mineral Resources (inclusive of the Mineral Reserves) of 1.19 Moz (23.2 Mt at 1.60 g/t). Additional Inferred Mineral Resources are 0.96 Moz (16.77 Mt at 1.78 g/t Au). (N.I. 43-101 Technical Report & Pre-Feasibility Study on the Valentine Gold Project Newfoundland and Labrador, Canada Report date: April 21, 2020 Effective date: April 18, 2020 Prepared for: Marathon Gold Corporation 10 King St. East, Suite 501, Toronto, ON, M5C 1C3 Prepared by: Ausenco Engineering Canada).

(Mineralization hosted on these established operations is not necessarily indicative or representative of the mineralization that may be hosted on the Company's property).

From T. Barry Coughlan (CEO): "With these latest assays following on 2021's earlier drilling at Staghorn [see Quadro's news release dated May 25, 2021], the Marks Pond Gold Horizon has been extended to over 600m in strike length and has proven continuity down dip, however the grades of the plus 20 m wide zone have not shown any improvement over the earlier drilling. The most significant aspect of the program was the discovery of a lower zone of high-grade mineralization with visible gold below the main zone. Additional drilling is planned to follow up on the high-grade lower zone and wide step out drilling on the Marks Pond Horizon where a number of gold-in-soil anomalies remain to be tested. We look forward to developing the Staghorn targets, in conjunction with the new gold discovery at the Long Lake project, further in 2022."


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