On June 12, 2017, Quadro received a National Instrument 43-101 Technical Report for the “Staghorn Gold Property, Victoria Lake Area, West Central Newfoundland, NTS: 12A/04, 12A/05, UTM COORDINATES 444500E/5335750N NAD 27 ZONE 21, for Benton Resources Inc. and Metals Creek Resources Inc.” (the “Technical Report”). This report was prepared by Timothy Froude, B.Sc., P. Geo., as third party expert with standing as a Qualified Person under NI 43-101 regulations. It was issued on June 12, 2017 and filed on the Company’s profile at www.sedar.com.
Scientific and technical information referred herein has been extracted from and are hereby qualified by reference to the technical report for our project. From the technical report:
“The Staghorn Gold Project is located on NTS Map Sheets 12A/04 and 12A/05 in the Victoria Lake area of west central Newfoundland, approximately 100 kilometers by road, east-southeast of the port town of Stephenville. Provincial Highway 480, the Burgeo Highway, crosses the property approximately 73 kilometers south of the Trans Canada Highway.
The property consists of 405 claims which are currently the subject of a joint venture agreement between Metals Creek Resources Inc., and Benton Resources Inc. The property was assembled through a combination of direct staking by both Benton and Metals Creek as well as optioned claims from third party local prospectors.
The region is underlain by Paleozoic volcanic and sedimentary rocks of the Dunnage Tectonostratigraphic Zone of the Newfoundland Appalachians. A major structural break, the Cape Ray Fault Zone, cuts through western and central Newfoundland and is believed to be an important component of mineralized environments along its entire length, particularly with respect to precious metal mineralization. A large number of gold occurrences, prospects and deposits lie along the trace of the Cape Ray Fault Zone, including some of Newfoundland’s largest undeveloped deposits including Valentine Lake (Marathon Gold Corporation) and Cape Ray (Benton Resources Inc.).
The Victoria Lake area has been the subject of mineral exploration since the discovery and successful development of the Buchans polymetallic massive sulphide deposits in the late 1920’s by the American Smelting and Refining Company (ASARCO). Regional exploration efforts by ASARCO through to the 1970’s, focused on the volcanogenic massive sulphide (VMS) potential of the region, but attention was also given to the potential for precious metal deposits. In addition, exploration activities by numerous operators since the 1970’s have also been successful in discovering base and precious metal mineralization, including several discoveries on the current Staghorn Property.
To date, insufficient exploration has been completed to fully determine the extent of the gold mineralization documented at the numerous gold occurrences and prospects outlined on the Staghorn Property. The work completed by most of the previous operators has focused largely on the immediate area of the Wood Lake Zone, the most significant prospect identified to date on the property which was discovered by local prospectors in 1998 on the south shore of Wood Lake. Prospectors Edwin Northcott and Gilbert Lushman traced gold in till and stream sediments to an area on the south shore of Wood Lake where subsequent trenching, and drilling, identified a potentially significant zone of intrusion hosted gold mineralization spatially associated with the Cape Ray Fault Zone. Drill intercepts at Wood Lake are highlighted by 2.14 g/t Au over 16.11 meters including 6.18 g/t over 5.11 meters and 2.15 g/t over 12.6 meters.”
Click here to download the complete Technical Report.