Long Lake Property
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 samples were processed by Overburden Drilling Management Limited (ODM) with results as follows:
|Sample Number||Visible Gold
|Pristine Gold Grains
|Calculated Gold Grade
In Heavy Mineral Conc.
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.