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Quadro Signs Agreement to Earn 100% Interest in Careless Cove and Yellow Fox Properties, Newfoundland and Labrador
Vancouver, British Columbia--(Newsfile Corp. - October 8, 2020) - Quadro Resources Ltd. ( ...
About this update from Quadro Resources Ltd.
[{"type":"text","content":"Quadro Signs Agreement to Earn 100% Interest in Careless Cove and Yellow Fox Properties, Newfoundland and LabradorVancouver, British Columbia--(Newsfile Corp. - October 8, 2020) - Quadro Resources Ltd. (TSXV: QRO) (OTCQB: QDROF) (FSE: G4O2) (\"Quadro\" or the \"Company\") is pleased to announce that, subject to approval from the Toronto Venture Exchange (the \"Exchange\") it has signed an agreement with Metals Creek Resources Corp. (\"MEK\") to earn a 100% interest in MEK's Careless Cove and Yellow Fox properties in Newfoundland (together, the \"Property\").T. Barry Coughlan (CEO & President) stated: \"The two properties form an exciting addition to our project portfolio in Newfoundland. Whereas our Victoria Lake projects are focused on the gold rich Cape Ray Fault system, described as one of the most prospective but underexplored regions in Canada, the Careless Cove and Yellow Fox properties are located to the northeast, and are adjacent to New Found Gold Corp.'s claims, which have seen promising early results.\" Note: Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's property.In a news release dated July 30, 2020, MEK reported results from recent prospecting activities on its Careless Cove property in Central Newfoundland The results include 11.8 grams per tonne (g/t) gold (Au) in grab samples. The Careless Cove claim block is one of two 100% owned claim blocks comprising the Careless Cove/Yellow Fox Property. The claims are located approximately 12 kilometers southwest of New Found Gold Corp. as illustrated on the attached map. (\"New Found Gold\") announced excellent results from recent drilling on their Queensway Gold Project. Drill Hole NFGC-19-01 results included an intersection of 92.86 g/t Au over 19.0 meters (see Mexican Gold Corp. press release dated January 26, 2020). 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. (see MEK press release dated July 30, 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.Careless Cove ClaimsThe recent prospecting carried out at Careless Cove uncovered miner...