Vancouver - Quadro Resources Ltd. ('Quadro' or the 'Company') (TSXV: QRO, OTCQB: QDROF, FRA: G4O2) is pleased to report it has completed the winter drill program on the Staghorn Gold Property located in southwestern Newfoundland.
The Staghorn property consists of 160 claim units covering 4000 hectares (40 sq. km). A total of 1403 meters was completed in ten holes, all targeted on the Marks Pond gold zone. The drilling consisted of a series of 50-meter spaced step-out and undercut holes to the northeast of the discovery hole MP20-02. Drilled in late 2020, this hole intersected a gold zone assaying 3.22 g/t Au over 5.0m, within a wider intersection of 1.98 g/t Au over 12.0m.
From T. Barry Coughlan, CEO: 'Newfoundland is experiencing a modern gold rush and Quadro is well positioned for discovery. The Company has a strategic land package in the region located among established and up and coming gold projects. Drilling has been ongoing since 2020 and continues into 2021 and we are excited for what 2021 will bring. The recent exploration at Staghorn has continued to define gold mineralization associated with the Cape Ray Fault zone. The program helped outline the Marks Pond zone over 300 meters and succeeded in vectoring on areas of potential higher grade below the existing holes. We look forward to resuming the target testing early summer.'
The drilling was successful in extending the Marks Pond Zone 300 meters to the northeast. All holes intersected a 20 to 30 meter wide zone of strongly altered diorite (albitized, silicified) with appreciable amounts of quartz veining and sulphide mineralization with variable gold results. The most noteworthy gold values were obtained from undercut drill holes on either end of the zone. On the northeast portion of the zone hole MP21-18 intersected 20.37 g/t Au over 0.5m within a wider zone of 0.53 g/t Au over 23.8m. To the southwest hole MP21-20 undercut the discovery hole drilled in 2020 (MP20-02 which intersected 3.22 g/t Au over 5.0m). This undercut intersected 3.89 g/t Au over 2.5m within a wider interval of 1.23 g/t Au over 15.0m.
The winter 2020-2021 program was designed to access drill sites, as described above, in an area where wet and boggy ground may make summer access difficult, although additional drilling at Staghorn is planned for this summer and will focus on drilling below the intersections in holes MP21-18 and 20 at Marks Pond and follow-up drilling in the Ryan's Hammer area.
The Staghorn claims are located within the auriferous 'Cape Ray Fault Corridor', 30 km southwest of Marathon Gold's Valentine Lake deposits. (Total Measured Mineral Resources (inclusive of the Mineral Reserves) comprise 1.9 Moz (31.7 Mt at 1.86 g/t) with Indicated Mineral Resources (inclusive of the Mineral Reserves) of 1.19 Moz (23.2 Mt at 1.60 g/t). Additional Inferred Mineral Resources are 0.96 Moz (16.77 Mt at 1.78 g/t Au). (N.I. 43-101 Technical Report & Pre-Feasibility Study on the Valentine Gold Project Newfoundland and Labrador, Canada Report date: April 21, 2020 Effective date: April 18, 2020 Prepared for: Marathon Gold Corporation 10 King St. East, Suite 501, Toronto, ON, M5C 1C3 Prepared by: Ausenco Engineering Canada). Other hot spots along this corridor include Matador Mining's Cape Ray deposits and Sokoman Minerals' Moosehead project where an on-going drill program has produced intersections up to 44.96 g/t Au over 11.9m (Sokoman Minerals' news release dated Oct 1, 2018). (Mineralization hosted on these established operations is not necessarily indicative or representative of the mineralization that may be hosted on the Company's property.)
In addition to drilling at Staghorn, Quadro's two other additional strategically located properties that will see drilling and exploration in 2021. At Long Lake (272 claim units covering 6800 hectares (68 sq. km)), the East Tulks gold target consists of a 700 m long east-west gold-in-soil anomaly with proximal high grade gold in angular 'float'. Additional soils are required to cut off the anomaly and a magnetic survey will be completed to better understand the underlying geology. Drilling is scheduled for June, when water levels allow easy access via fording Tulks Brook. At Careless Cove (40 claim units), gold showings and soil anomalies have been partially outlined on these two claim blocks which need additional work to get to the drill stage. On April 28, 2021, the Company announced that a soil sampling and prospecting survey has been initiated on the Careless Cove property located southwest of Glenwood in east-central Newfoundland.
Quadro Resources Inc. acknowledges the financial support of the JEA Program, administered by Department of Natural Resources, Government of Newfoundland and Labrador.
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. The Company's shares trade on the TSX Venture Exchange under the symbol 'QRO'. Quadro owns a 100% interest in the Staghorn property and has an option to earn a 100% interest in the Long Lake property and the Careless Cove property in Newfoundland and Labrador.
Contact:
Tel: (604) 644-9561
Email: info@quadroresources.com
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.'
QUADRO RESOURCES LTD. 
