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 along the auriferous Cape Ray Fault and proximal to Marathon Gold’s Valentine Lake Deposits (approximately 4.2 million oz Au). The Staghorn property consists of 405 claim units (101 sq. km).
Quadro is building a portfolio of additional gold properties in Newfoundland, which is recognized as one of the world’s leading mining jurisdictions. Recent 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:
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.
Compilation of the drill results and additional field work (prospecting/geophysics and soil sampling) has outlined three high priority targets in the northeast end of the Staghorn property, 30 km on strike from the Marathon Gold deposits.
Comparison of Marathon and Quadro Properties
Both 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 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.
Marathon has completed more than 275,000 metres of drilling. Drilling at the Ryan’s Hammer, Ryan’s Hammer East and Mark’s Pond soil anomaly amounts to approximately 1,000 meters. Two new wide auriferous zones have been discovered from this drilling and now require step out drilling.