Vancouver, British Columbia--(Newsfile Corp. - January 16, 2023) - Quadro Resources Ltd. (TSXV: QRO) (OTC Pink: QDROF) (FSE: G4O2) ("Quadro" or the "Company") is pleased to announce the final geochemical reporting of trenching and channel sampling from previously announced high grade gold results (refer to TRU Precious Metals Corp.'s ("TRU") news release dated November 23, 2022) from recent work completed by TRU on Quadro's recently optioned Staghorn property in Central Newfoundland and completed 130m northwest of the main Mark's Pond Shear zone.
"TRU collected a total of 159 channel samples within the recently excavated 275 m long trench, including 85 samples within a 23 m long easterly extension at the southern end of the trench along strike of a visible gold-bearing volcaniclastic and graphitic shear zone. This newly discovered high-grade gold zone has been named the "Northcott Gold Zone" to recognize the significant discoveries made by prospector Ed Northcott in this area."
Highlights (from TRU Precious Metals Corp.'s news release dated January 12, 2023)
- The Northcott Gold Zone is a significant gold discovery for TRU within a newly uncovered brittle-ductile shear zone located 130 m northwest of the Mark's Pond Gold Zone. This 2 to 3 m wide northeast trending shear zone contains abundant visible gold within quartz-carbonate veins and the surrounding wall rock.
- Significant channel sample gold results from the Northcott Gold Zone include (Figure 2 and Table 1):
- 57.6 g/t Au over 2.5 m including 141 g/t Au over 1.0 m
- 34.0 g/t Au over 2.0 m including 65.4 g/t Au over 1.0 m
- 23.5 g/t Au over 2.0 m including 90 g/t Au over 0.5 m
- Channel samples in the Northcott Gold Zone were collected at 0.5 to 1 m intervals within 14 transects along a 23 m long northeast strike-line. A full QAQC program was implemented, and the majority of the channel samples underwent total pulp metallics analysis due to fire assay results returning >1 g/t Au.
- The Northcott Gold Zone remains open along strike to the southwest and northeast. TRU plans to extend the trench further in both directions and complete detailed structural mapping of the entire trench and additional channel sampling in spring 2023 prior to drilling this zone.
Quadro is pleased that ongoing efforts by TRU is continuing to show strong Au results within the Staghorn option. The new Northcott Gold Zone builds on the observed parallel gold bearing trends noted within the Mark's Pond zone and thus significantly adds to the overall potential of the area.
Quadro Closes Option Agreement with TRU for Quadro's Staghorn Project
On August 18, 2022, the Company announced that, further to its news release dated June 16, 2022, it closed the definitive option agreement with TRU. Pursuant to the terms of the option agreement, TRU has the option to acquire up to an aggregate 65% ownership in Quadro's Staghorn project located in central Newfoundland. The Staghorn project is a large claim package of 133 claim units in eight mineral licenses covering 3,325 hectares with a 12 km strike length of the auriferous Cape Ray Fault Zone.
Qualified Person
Wayne Reid, P. Geo., VP Exploration for Quadro and a qualified person as defined in National Instrument 43-101, is responsible for this release and supervised the preparation of the information forming the basis for this release.
About Quadro Resources - Quadro is a publicly traded mineral exploration company. It is led by an experienced and successful management team and is focused on exploring for gold in North America. The Company's shares trade on the TSX Venture Exchange under the symbol "QRO". Quadro owns a 100% interest in the Staghorn property which it has optioned to TRU Precious Metals Corp., owns a 100% interest in the Long Lake property, has an option to earn a 100% interest in the Yellow Fox/Careless Cove properties, and has an option to earn an initial 51% interest in the Tulks South Property, in Newfoundland.
On behalf of the board of directors,
Quadro Resources Ltd.
"T. Barry Coughlan"
President and CEO
Tel (604) 644-9561
info@quadroresources.com
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release." The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections." For more information on the Company, interested parties should review the Company's filings that are available at www.sedar.com.
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