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Quadro Reports Additional Results From Its Long Lake Project
- Additional prospect results up to 20.12 g/t Au from float at Long Lake 440 meters west of the initial discovery.
Vancouver, B.C., September 21, 2020. Quadro Resources Ltd. (“Quadro” or the “Company”) (TSXV: QRO, OTCQB: QDROF, FRA: G4O2) is pleased to report additional results from recent exploration activities on its Long Lake Option The optioned property is part of the Victoria Lake Project in Central Newfoundland and is located within the auriferous “Cape Ray Fault Corridor”, which also includes Marathon Gold’s Valentine Lake deposits, Matador Mining’s Cape Ray deposits and Sokoman Minerals’ Moosehead project, where Quadro holds 108 sq km between its Staghorn and Long Lake projects.
Further to its September 2, 2020 news release, 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 (see Quadro news release dated November 28, 2019) A total of 15 samples from four trenches were taken during the trenching program and assays are pending.
(Note: The surface grab samples described in this news release 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).
Qualified Person – Disclosure of a scientific or technical nature in this news release was prepared under the supervision of Wayne Reid, P. Geo., VP Exploration for Quadro, and a qualified person under National Instrument (“NI”) 43-101.
QA/QC – Analyses in this release 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.
Quadro acknowledges the financial support of the JEA Program, Department of Natural Resources, Government of Newfoundland and Labrador.
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 and PGE in North America. Quadro has approximately 50 million shares outstanding. The Company’s shares trade on the TSX Venture Exchange under the symbol “QRO”. Quadro owns a 100% interest in the Staghorn and Conche properties and has an option to earn a 100% interest in the Long Lake property in Newfoundland and an option to earn a 70% interest in the Seagull Lake property in Ontario.
On behalf of the board of directors,
Quadro Resources Ltd.
“T. Barry Coughlan”
President and CEO
"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.