Quadro Resources Ltd. (OTCQB:QDROF)

Quadro Resources Ltd. (OTCQB:QDROF)

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-Projects:

Newfoundland:

Staghorn Gold Project:

Quadro Resources is focused on the gold rich Cape Ray Fault system, described as one of the most prospective but underexplored regions in Canada. Its main asset is a 100% interest in the Staghorn Gold project. Located in west-central Newfoundland, the project comprises the Staghorn property and the recently optioned Long Lake property. Both properties cover portions of the auriferous Cape Ray Fault system which hosts a number of active gold exploration programs including Marathon Gold’s Valentine Lake deposits (Proven and Probable Mineral Reserves of 1.87 Moz (41.05 Mt at 1.41 g/t Au). Measured and Indicated Mineral Resources, which are inclusive of the Mineral Reserves, are 3.09 Moz (54.9 Mt at 1.75 g/t Au). Additional Inferred Mineral Resources are 0.96 Moz (16.77 Mt at 1.78 g/t Au). Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property.

160 claim units covering 4000 hectares (40 sq. km). Work by Quadro on the northeast extension of its claims has identified three gold rich systems that require follow-up drill testing.

Quadro has completed two drill programs to date:

Nov-Dec 2017 – 1466 m in 9 holes focused on the Woods Lake Zone. This program confirmed the widespread extent of an auriferous altered granodiorite within a flexure of the Cape Ray fault and will require additional drilling to better define higher grade zones within the package.
Nov-Dec 2018 – 887 m in 5 holes focused on completing a fence of holes across the Cape Ray structure at Ryan’s Hammer. This drilling combined with previous drilling to the east has partially outlined two wide gold trends with only one drill cut in each trend.
Marathon Gold’s Valentine Lake deposits and Quadro’s Staghorn and Long Lake properties are on strike from each other and are traversed by the auriferous Cape Ray Fault and associated Rogerson Lake Conglomerate unit. The properties are separated by a 30 km expanse of water (Victoria Lake).

The Marathon property hosts the multi-million oz Valentine Lake gold trend which terminates to the southwest at the shore of Victoria Lake. The northeast part of Quadro’s Staghorn property extends to the opposite shore of Victoria Lake (Ryan’s Hammer area), where similar gold mineralization has been located in float and drill holes.

Marathon’s gold system consists of a series of stacked Quartz-Tourmaline-Pyrite-Gold veins hosted in a granodiorite unit, proximal to the overthrust Rogerson Lake Conglomerate. Mineralization at Staghorn is generally hosted in Arsenopyrite-Pyrite-Quartz veins within a diorite/granodiorite unit proximal to the Rogerson Lake Conglomerate. Gold is also found in strongly sheared sediments associated with the Cape Ray structure.

Previous drilling at the Ryan’s Hammer, Ryan’s Hammer East and Mark’s Pond soil anomaly amounts to approximately 1000 meters. Two new wide auriferous zones have been discovered from this drilling and now require step out drilling.

Drill targets include the Ryan’s Hammer prospect, located in the northeast end of the property, where prospecting has uncovered numerous angular float of altered diorite containing high grade gold up to 32.15 g/t. Limited drilling has defined two gold rich horizons. The eastern zone was discovered by Benton Resources Inc. in 2015 (drill hole RH-15-01, azim/dip 340/-45) when they intersected 0.22 g/t Au over 42.6 m in altered diorite (see National Instrument-43-101 Technical Report on the Staghorn Gold Property, NL for Quadro Resources Ltd dated June 12, 2017, by Timothy Froude, P Geo). The eastern horizon located 600 meters across strike to the west was drilled by Quadro in 2018 (drill hole ST-18-01, azim/dip 278/-50) resulting in an intersection of 0.145 g/t Au over 50 m in a graphitic horizon. True widths of either zone are not known as there has been no follow-up drilling done on these zones.

A second target in this area is also slated for drill testing. The Marks Pond Au-in-Soil anomaly is defined as a strong 800 meter by 300 meter soil anomaly (up to 7,000 ppb Au) which is coincident with the northern edge of a diorite plug and the regionally significant Rogerson Lake conglomerate.

A diamond drill was mobilized on September 8, 2020, and drilling has started on the Marks Pond anomalies and will continue on to the Ryan’s Hammer targets, located 1 km east of the Marks Pond anomalies. An estimated 2000 meters of drilling is planned, and results will be released as they become available.

QA/QC – Quadro implemented a quality control program on its drill programs at the Staghorn Project to ensure best practice in sampling and analysis. Quadro maintained strict quality assurance/quality control protocols including the systematic insertion of certified standard reference and blank materials into each sample batch. Analyses in this release were performed by Eastern Analytical of Springdale, NL with ISO 17025 accreditation. Samples were transported in sealed bags to Eastern and all samples were assayed using industry-standard assay techniques for gold. Gold was analyzed by a standard 30 gram fire assay with an AA finish.

Long Lake:

Quadro Resources is focused on the gold rich Cape Ray Fault system, described as one of the most prospective but underexplored regions in Canada. Its main asset is a 100% interest in the Staghorn Gold project. Located in west-central Newfoundland, the project comprises the Staghorn property and the recently optioned Long Lake property. Both properties cover portions of the auriferous Cape Ray Fault system which hosts a number of active gold exploration programs including Marathon Gold’s Valentine Lake deposits (Proven and Probable Mineral Reserves of 1.87 Moz (41.05 Mt at 1.41 g/t Au). Measured and Indicated Mineral Resources, which are inclusive of the Mineral Reserves, are 3.09 Moz (54.9 Mt at 1.75 g/t Au). Additional Inferred Mineral Resources are 0.96 Moz (16.77 Mt at 1.78 g/t Au). Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property.

272 claim units covering 6800 hectares (68 sq. km). Quadro has an option to earn a 100% interest in this property located proximal to Marathon Gold’s Valentine Lake deposits. The property is located along the northwest boundary of the Marathon Gold project within an under-explored belt of mineralized volcano-sedimentary and intrusive rocks. Highlights from the property includes two areas of strong gold in soil and tills which have never been followed up. The property provides an opportunity for new gold discoveries in the emerging Cape Ray Gold district and is complimentary to Quadro’s Staghorn claims located 35 km southeast of the newly acquire claims.

Previous work on the property dates back to 2005 when soil sampling outlined a number of gold anomalies. The historic geochemical survey was part of an on-going volcanogenic massive sulphide (base metal) program which kept the ground tied up until recently. No follow-up was carried out during that time and the area came open for staking in early 2019. The claims were staked by the underlying vendors, who took two till samples in the area of the higher gold-in soil anomaly.

The recovered gold grains consist of mostly silt-sized pristine and modified grains which suggest that the samples were collected in close proximity to the source mineralization. The Company has not verified the above results as the soil results are historic in nature and the till sampling was completed prior to Quadro’s involvement. The till sample analytical results and comments were provided by Overburden Drilling Management Limited reports dated Nov. 4, 2019 and Nov. 6, 2019.

In Q3 2020, a total of 117 rock samples were collected during the initial Long Lake program focused on areas with anomalous Au-in-soils and tills delineated from historic work as well as areas underlain by a diorite/monzonite geological unit, similar to the host rock at the Valentine Lake deposits. A field description of the two highly anomalous samples follows:

Sample # 480450 – 33.65 g/t Au - 30 cm by 30 cm slab of angular quartz float with 12% disseminated pyrite. The underlying geology is mapped as diorite/monzonite.
Sample # 480438 – 8.66 g/t Au –grab sample of a quartz veined sedimentary unit (outcrop). Underlying geology is mapped as part of the Tulks volcanic/sedimentary belt.
Quadro acquired through staking an additional 30 units in two licenses to cover the strike extension of the geology underlying the quartz float. The follow-up sampling and prospecting program will be extended to these new claims.

Follow-up mapping and sampling is in progress, focused on the monzonite unit. A number of samples have been delivered for analysis and the sampling will also include an orientation soil sampling program. An excavator has been mobilized to the Tower Grid area and trenching is in progress. The focus in this program is to better understand the source of the highly anomalous Au-in-till anomaly which had up to 4.53 g/t Au in Heavy Mineral Concentrate and included numerous grains of pristine gold grains.

Additional prospecting was carried out in the East Tulks area where recent results included 33.65 g/t Au from angular quartz. New assay results include high grade gold from three additional float samples collected from an area up to 500 meters west of the initial discovery. One sample of quartz float with fine specs of visible gold, located 440 m west of the initial occurrence assayed 20.12 g/t Au. The other two samples assayed 15.05 and 7.06 g/t Au. Prospecting and soil sampling are continuing, focused on this area.

A trenching program was completed on the Tower Au-in-till anomaly which had up to 4.53 g/t Au in Heavy Mineral Concentrate and included numerous grains of pristine gold grains. A total of 15 samples from four trenches were taken during the trenching program and assays are pending.

The surface grab samples described are selective by nature and are unlikely to represent average grades of the property. The “float” samples are non in situ samples and not necessarily from a proximal bedrock source.

QA/QC – Analyses were performed by Eastern Analytical of Springdale, NL, with ISO 17025 accreditation. Samples were transported by Company personnel to Eastern and all samples were assayed using industry-standard assay techniques for gold and ICP-34 for other trace elements. Gold was analyzed by a standard 30 gram fire assay with an AA finish.

Yellow Fox/Careless Cove:

40 claim units. Quadro has an option to earn a 100% interest in the Yellow Fox and Careless Cove properties.

The two properties form an exciting addition to Quadro's project portfolio in Newfoundland. Whereas the Victoria Lake projects are focused on the gold rich Cape Ray Fault system, described as one of the most prospective but underexplored regions in Canada, the Careless Cove and Yellow Fox properties are located to the northeast, and are adjacent to New Found Gold Corp.’s claims, which have seen promising early results. Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property.

In a news release dated July 30, 2020, Metals Creek Resources Corp. (MEK) reported results from recent prospecting activities on its Careless Cove property in Central Newfoundland:

The results include 11.8 grams per tonne (g/t) gold (Au) in grab samples. The Careless Cove claim block is one of two 100% owned claim blocks comprising the Careless Cove/Yellow Fox Property. The claims are located approximately 12 kilometers southwest of New Found Gold Corp. as illustrated on the attached map. (“New Found Gold”) announced excellent results from recent drilling on their Queensway Gold Project. Drill Hole NFGC-19-01 results included an intersection of 92.86 g/t Au over 19.0 meters (see Mexican Gold Corp. press release dated January 26, 2020). Gold values on adjacent properties in similar rocks are not representative of the mineralization on the property, have not been verified, and should not be relied upon. (see MEK press release dated July 30, 2020).

Note: Gold values on adjacent properties in similar rocks are not representative of the mineralization on the property, have not been verified, and should not be relied upon.

Careless Cove Claims

The recent prospecting carried out at Careless Cove uncovered mineralization comprised of quartz breccia with disseminated and vein hosted pyrite/arsenopyrite with minor stibnite. Three samples taken from outcrop assays are as follows:

Yellow Fox Claims

No new sampling was carried out at Yellow Fox however a description of previous MEK sampling carried out in 2011 follows: (see Newfoundland Geoscience Resource Atlas Geofile Number: 002D/0779).

Initial prospecting carried by Metals Creek in 2011, resulted in a concentration of highly anomalous gold values with one sample returning an assay of 59.413 g/t Au (main Yellow Fox showing) (see MEK press release dated June 22, 2011). This led to an enhanced work program which included soil sampling and trenching. B-horizon soils were collected 25 meters apart over two, 100m spaced, east-west trending recce lines over the higher-grade gold sample in an attempt to trace the direction of mineralization. Follow-up trenching was completed across the mineralization. Initial sampling consisted of 13 selective grab samples taken throughout the trenches with assay values ranging from 214 ppb to 1877 ppb Gold and up to 11.1% Sb, 5.5% Pb, 7% Zn, and 72.9 g/t Ag. The trenches were then channel sampled along their length using a diamond bladed rock saw. The best result from the channels were from Trench #1 which assayed 0.306 g/t Au over 26.82m within 29 continuous samples and 4.57% Sb over 1 meter. These results were very encouraging and indicated the potential for a more widespread gold system on the Yellow Fox claim group.

Analyses were performed by Eastern Analytical of Springdale, NL with ISO 17025 accreditation. Samples were transported in sealed bags to Eastern and all samples were assayed using industry-standard assay techniques for gold. Gold was analyzed by a standard 30 gram fire assay with an AA finish.

Note: The surface grab samples described are selective by nature and are unlikely to represent average grades of the property."

The above descriptions and technical information were taken from a press release issued by MEK dated July 30, 2020, and approved under the supervision of MEK’s qualified person under NI-43-101, Wayne Reid, P.Geo. Quadro has not verified the data and have relied on the information provided in that press release.

Ontario:

Seagull Lake:

Quadro has an option to earn a 70% interest in the Seagull Lake Ultramafic Intrusion which hosts a number of PGE discoveries identified in drilling, trenching, and prospecting. The property is located 1 hour north of the city of Thunder Bay in Northwest Ontario and 28 km north of the new copper, nickel, platinum, palladium discoveries of Rio Tinto and Magma Metals (Panoramic Resources Ltd.), recently acquired by Regency Gold Corp. (via Benton Resources Inc.), now Clean Air Metals Inc. The Impala Canada (formerly North American Palladium) Lac des Iles mine, located 50 km northwest of the Seagull Lake property, is the only primary producing palladium mine in Canada. Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property.

The Seagull Lake property consists of a large land position comprising 492 single cell mining claims totaling 10,390 hectares. The district enjoys excellent infrastructure, with paved and gravel roads, natural gas pipeline and power lines in the area.

Impala Canada recently purchased North American Palladium’s Lac des Ile Mine, Canada’s only primary PGE mine. High grade discoveries by Rio Tinto at Escape Lake and Impala Canada at Sunday Lake Property show the tremendous potential of the Thunder Bay North region: Sunday Lake: 35.8 m of 4.5 g/t Pt+Pd+Au (“3E”) and 41.2 m of 3.22 g/t Pt, 2.08 g/t Pd, 0.21 g/t Au. PGE zones at Seagull are wide open for expansion and drill permitting is underway. Historic holes targeted semi massive to massive sulphides at +800m depths. Potential for the discovery of Norilsk (Siberia) type PGE Cu Ni and contact type PGE sulphide mineralization.

The Seagull Lake property is interpreted to represent the failed third arm of a Proterozoic aged, mid-continent rift system which host such deposits as Eagle, TBN Escape Lake, Tamarac and the Great Lakes Nickel deposit. It is located in the Nipigon Plate and is a 10 km diameter circular intrusive that is composed of ultramafic rocks with a high olivine content, interpreted to having been derived from a deep mantle source. Layering and multiple phases of intrusion have been intersected by diamond drilling and recognized as a favorable setting for Norilsk type sulphide accumulation.

The current palladium breakout is based on supply dynamics. Increasingly stringent global auto emission standards are driven to a large degree by climate change concerns for a carbon-free transportation sector. This will require increased, sustainable production of certain strategic minerals and commodities going forward to meet critical demand. Platinum-palladium and nickel are essential to the lifeline of the EV revolution. Lac des Iles Mine by Impala Platinum underscores the globally recognized significance of the PGE-rich Thunder Bay North region.

Prior to the Quadro-White Metal Resources Corp. option agreement, previous exploration work on the Seagull Intrusion had outlined different styles of PGE mineralization including the discovery of the Norilsk-type Cu-Ni-PGE-rich basal sulphide mineralization. Drill results, prior to 2001, include 3.6 g/t PGE, 0.34% Cu, 0.21% Ni over 2.1 meters, and 1.04 g/t PGE, 0.14% Cu, and 0.16% Ni over 16 meters. (After N Pettigrew, 2002) More recent drilling and resampling of historical drill holes by Platinum Group Metals ("PTM") between 2001-2005 yielded some very encouraging grades of PGE.


Quadro Resources Ltd.. is traded on the OTCQB under the ticker symbol QDROF. This is not investment advice. Please view the disclaimer found on this website.
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