Business
Quadro Receives Exploration Permit on Its Careless Cove and Yellow Fox Properties, Newfoundland and Labrador
- Historical testing includes 59.4 g/t Au and 72.9 g/t - Adjacent to New Found Gold Corp.'s Q...
About this update from Quadro Resources Ltd.
[{"type":"text","content":"Quadro Receives Exploration Permit on Its Careless Cove and Yellow Fox Properties, Newfoundland and Labrador- Historical testing includes 59.4 g/t Au and 72.9 g/t- Adjacent to New Found Gold Corp.'s Queensway ProjectVancouver, British Columbia--(Newsfile Corp. - December 9, 2020) -  Quadro Resources Ltd. (TSXV: QRO) (OTCQB: QDROF) (FSE: G4O2) (\"Quadro\" or the \"Company\") is pleased to report that it has received an exploration permit to carry out exploration work on its recently optioned Careless Cove and Yellow Fox properties in Newfoundland and Labrador (together, the \"Property\"), where it has the right to earn a 100% interest under an agreement with Metals Creek Resources Corp. (\"MEK\") (see Quadro news release dated October 8, 2020).The Property is located within and adjacent to New Found Gold Corp.'s Queensway High-Grade Gold Project as illustrated on the attached map. The Quadro claims are approximately 12 kilometers southwest of New Found Gold's Keats Zone which is the main focus of its ongoing 100,000 meter drill program where results include an intersection of 92.86 g/t Au over 19.0 meters (see New Found Gold press release dated Nov. 16, 2020).Note: Gold values on adjacent properties in similar rocks are not representative of the mineralization on the property, have not been verified, and should not be relied upon.Figure 1: Careless Cove and Yellow Fox claims (map by ExplorationSites.com, October 14, 2020).To view an enhanced version of Figure 1, please visit:https://orders.newsfilecorp.com/files/5339/69670_5ab0270544fdb9f9_002full.jpgPlanned exploration - Quadro plans to carry out an initial orientation program consisting of prospecting and soil sampling on both properties over the next quarter. The surveys are planned to follow up on known gold mineralization and to help define targets for follow-up trenching and drill testing. Previous work by MEK had located a number of gold targets as described in the Quadro press release on Oct 8, 2020. A summary of these results follows: Careless Cove - Recent prospecting carried out by MEK at Careless Cove uncovered mineralization comprised of quartz breccia with disseminated and vein hosted pyrite/arsenopyrite with minor stibnite. Results from outcrop include:Sample Numberg/t Au2361027.392361030.472361044.15 In addition, follow up prospecting has located rubble ...