Quadro Resources, Metals Creek Resources and Benton Resources Jointly Stakes New Lead/Silver Property on the Great Northern Peninsula, Newfoundland
Toronto, June 25, 2018. - Quadro Resources Inc. (TSX- V: QRO) (Quadro), Metals Creek Resources Corp. (TSX-V: MEK) (Metals Creek) and Benton Resources Inc. (TSX-V: BEX) (Benton) and are pleased to announce the acquisition of a new jointly staked (33.33% each) property (Conche Showing) on Newfoundland’s Great Northern Peninsula. During reconnaissance prospecting efforts, lead by three personnel of the three companies, a new Galena, Copper, Zinc, and Fluorite zone was discovered over a broad area in outcrop and over a strike length of greater than 300m. Since representatives of three companies were present at the time of discovery and the discovery was on open ground, the three companies agreed to stake the ground jointly as equal partners.
The jointly staked ground is tied onto the south side of Quadro’s 100% owned Cape Rouge claim licence (15.75 sq km), which was initially staked based on the area’s favorable geology and coincident Ag-in-lake sediment anomalies (see Quadro news release dated Jan 11(?), 2018). The newly discovered lead-silver mineralization is located within a strong north-south striking deformation zone and is located 1.2 km due south of the 100% owned Quadro claim. Follow-up work will be initiated this summer and will prioritize this northerly trend.
Eighteen grab samples were taken from the new zone of which ten (10) selective grab samples were rushed for analysis. Highlights from these assay results include up to 15.5% Lead (pb) and 192 grammes per tonne (g/t) silver. Below is a table of results for the rush assays.
The surface grab samples mentioned in this release are selective by nature and are unlikely to represent average grades of the property.
The property is located approximately 7 kms from the southeast boundary of Altius Minerals Corporation’s new Sail Pond discovery, where Altius obtained grab samples up to 2,030 g/t Ag, 7.08% Cu, 9.40% Pb, 2.54% Sb, 0.46 g/t Au and 944 g/t Ag, 5.24% Cu, 7.6% Pb, 2.32% Zn,
0.30g/t Au (South Zone) and 803 g/t Ag, 3.58% Cu, 0.11% Pb, 1.04% Zn, 0.92% Sb, 0.17 g/t Au (North Zone). (Altius web site). Altius has executed a Letter of Intent (“LOI”) to sell its Sail Pond silver-copper-lead-zinc project to New Found Gold Corp. (“NFG”), a private Newfoundland-focused precious metals explorer. Key conditions of the LOI include NFG listing its common shares on a recognized Canadian stock exchange and raising a minimum of $7.5 million via a private placement, of which Altius would invest a minimum of $1 million. (See Altius news release dated 28 March 2018)
Wayne Reid, P. Geo., VP Exploration for Quadro and a Qualified person as defined in National Instrument 43-101, was involved in the field work described herein and is responsible 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. Quadro has 27,427,094 shares outstanding. The Company’s shares trade on the TSX Venture Exchange under the symbol “QRO”. Quadro owns a 100% interest in the Staghorn property in Newfoundland.
On behalf of the board of directors,
Quadro Resources Ltd.
“T. Barry Coughlin”
President and CEO
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