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Quadro Reports Results from Second Phase Drilling at Staghorn

13.02.2019  |  Newsfile

Vancouver, February 13, 2019 - Quadro Resources Ltd. (TSXV: QRO) ("Quadro" or the "Company") reports results from its second phase diamond drill program on the Staghorn Gold Property located in southwestern Newfoundland. A total of 887 metres was completed in five holes. Highlights from the drilling was the intersection of a 50 metre wide graphitic schist/breccia zone carrying anomalous gold including 0.94 gpt Au over 3.0 m.

This drill program targeted previously untested portions of the Cape Ray Fault (CRF) system which transects Quadro's claims over a 20 km strike length. The initial three holes (ST18-01,02 and 03) completed a "stratigraphic" fence across the interpreted CRF zone in proximity to the Ryan's Hammer area, where previous sampling had defined a cluster of high-grade gold values up to 32.15 gpt Au in brecciated and foliated diorite. Hole ST18-04 was a 100 metre step-out and ST18-05 tested a gold-in-soil anomaly, 9 km to the southwest.

The highlight from this drilling was from DDH ST18-01 which intersected a brecciated and sulphide rich mineralized section within a graphitic schist zone. The 50 m graphitic zone was anomalous in gold (0.145 gpt over 50.0m) with an internal brecciated zone assaying 0.94 gpt over 3.0 meters from 218.5m to 221.5m. The section is described as poly-metallic with minor amounts of chalcopyrite, sphalerite and arsenopyrite, however ICP analysis results are pending. Results from the other holes were negative with only isolated gold values up to 0.255 gpt Au (over 0.4m).

Anomalous drill results follow:

DDH FROM TO INTERVAL
(metres)
Au g/t
ST18-01
incl
incl
189.0
217.0
218.5
239.0
227.55
221.5
50.0
10.55
3.00
0.145
0.461
0.940
ST18-02


Nil
ST18-03


Nil
ST18-04 82.15 82.55 0.4 0.255
ST18-05


Nil

Additional drilling is being contemplated to better test the known gold trends and other targets on the Staghorn property. To date Quadro's drilling has been limited to the Woods Lake Zone and this recent drilling concentrating on the Ryan's Hammer area. Future drilling will target extensions of the graphitic breccia zone, additional areas around the high-grade Ryan's Hammer mineralization and the Mark's Pond area where a strong soil anomaly (up to 7,000 ppb Au) is coincident with the northern edge of a diorite plug and the regionally significant Rogerson Lake conglomerate. This target was slated to be tested in the latest drill campaign however wet conditions made access impractical.

The Cape Ray Fault structure is a regionally extensive `break` and hosts a number of recently discovered gold deposits and prospects. The most advanced of these is Marathon Gold's Valentine Lake deposit with latest published resources of 2,691,400 oz Au indicated and measured and 1,531,600 oz Au inferred (Marathon Gold`s website). Other hot spots along the fault includes Matador Mining`s Cape Ray deposits and Sokomon Iron`s Moosehead Project where recent drilling intersected 44.96 gpt Au over 11.9m (Sokoman Iron news release dated Oct 1, 2018).

QRO acknowledges the financial support of the JEA Program, Department of Natural Resources, Government of Newfoundland and Labrador.

Wayne Reid, P. Geo., VP Exploration for Quadro and a qualified person as defined in National Instrument 43-101, is responsible for this release and supervised the preparation of the information forming the basis for this release.

QA/QC - Quadro has implemented a quality control program on its drill programs at the Staghorn Project to ensure best practice in sampling and analysis. Quadro maintains strict quality assurance/quality control protocols including the systematic insertion of certified standard reference and blank materials into each sample batch. Analyses in this release were performed by Eastern Analytical of Springdale, NL with ISO 17025 accreditation. Samples were transported in sealed bags to Eastern and all samples were assayed using industry-standard assay techniques for gold. Gold was analyzed by a standard 30 gram fire assay with an AA finish.

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 approximately 28 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 in Newfoundland.

On behalf of the board of directors,
Quadro Resources Ltd.

"T. Barry Coughlan"
President and CEO
Tel (778) 373-6734

"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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/42815


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