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Quadro Provides Corporate and Operational Update on Its Victoria Lake Gold Projects in Newfoundland
Vancouver, British Columbia--(Newsfile Corp. - February 13, 2020) - Quadro Resources Ltd. ...
About this update from Quadro Resources Ltd.
[{"type":"text","content":"Quadro Provides Corporate and Operational Update on Its Victoria Lake Gold Projects in NewfoundlandVancouver, British Columbia--(Newsfile Corp. - February 13, 2020) - Quadro Resources Ltd. (TSXV: QRO) (\"Quadro\" or the \"Company\") is pleased to provide an update on its planned exploration and drilling program for its two gold projects in Newfoundland. Following its recent private placement (see the news release dated January 30, 2020) Quadro is preparing to aggressively explore and develop its highly prospective Staghorn and Long Lake gold projects in Newfoundland (together, the Victoria Lake Projects) in Q2 2020. The two Company assets are located along the highly prospective Cape Ray Fault system which contains some of Newfoundland's most prospective properties in the region with excellent geology, multiple new gold zones and large land holdings(see Figures 1-3) . While developing its current projects the Company is actively engaged to increase its asset portfolio of precious metals in Canada and the United States.GOLD-RICH CAPE RAY FAULT IN NEWFOUNDLANDIn this very active mining area, other explorers such as Marathon Gold Corp. (measured and indicated 2.69 Moz Au and inferred 1.77 Moz Au), Matador Canada Ltd. (indicated 0.66 Moz Au and inferred 0.36 Moz Au), Sokoman Minerals Corp. (44.96g/t Au over 11.90m), Antler Gold Inc. (49.3g/t Au over 4.6m), and New Found Gold Corp. (92.86 g/t Au over 19.0m including 285.2 g/t Au over 6.0m) have completed extensive exploration with tremendous early success (Marathon Gold, Matador Canada, Sokoman Minerals, Antler Gold and New Found Gold websites). Mineralization hosted on adjacent and nearby properties is not necessarily indicative of mineralization hosted on the Company's properties.The Geological Survey of Canada has compared structural gold controls of the Abitibi greenstone belt and central Newfoundland Appalachians, and the implications for Newfoundland gold potential (Bleeker, W. and Honsberger, I., 2018). Both Long Lake and Staghorn projects are situated along the Cape Ray Fault and related splays (see Figure 1). In particular the Staghorn property occurrences are intrinsically related to the Cape Ray Fault which is interpreted to be analogous to Abitibi-type fault-hosted gold quartz vein deposits (Wilton, D. Terra Rosetta Incorporated. May 1, 2017).Figure 1: Newfoundland Gold P...