Quadro Resources Ltd. [QRO-TSXV; QDROF-OTCQB; G4O2-FSE] reported the discovery of a new gold zone intersected from the inaugural exploration drill program at its Long Lake property in Central Newfoundland.
The drill program consisted of five holes (757 metres) designed to test the Ricky Gold Target. Intersections included 3.68 g/t gold over 5.4 metres in hole R-021-01 on the eastern end of the target and 31.7 g/t gold over 0.5 metres from hole R-021-04 located 500m to the west.
Results have been received from the five holes. A number of zones have been partially defined from the drilling including high-grade narrow zones in holes RO-21-04 and two wider zones intersected in holes 01 and 02 drilled as a fence on the same section. The southern zone intersected in hole 01 assayed 1.26 g/t gold over 17.1 metres, including 3.68 g/t gold over 5.4 metres, from an intensely altered and quartz veined section of mineralized quartz monzonite. A second mineralized zone was intersected in hole 02 and is located approximately 100 metres north of the initial discovery. This zone assayed 0.55 g/t gold over 22.45 metres and included a higher grade section of 1.25 g/t gold over 4.90 metres. Hole RO-21-05 returned 31.70 g/t gold opver 0.50 metres.
Previous field work by Quadro over the past two field seasons targeted a northeast-striking quartz monzonite unit located approximately 7 km northwest of the monzonite unit hosting Marathon Gold’s Valentine Lake deposits. This field work defined the Ricky Target as a 700-metre long gold anomaly highlighted by a strong gold-in-soil anomaly and a number of float samples with values up to 33.65 g/t gold. Detailed ground magnetics and induced polarization were completed in July, 2021 and the inaugural drill program, reported here, began in late July.
A preliminary evaluation of the Ricky Zone drill holes and assay results indicate gold mineralization intersected in this program is open for expansion. In particular, the South Zone intersected in hole RO-21-01 is also completely open as none of the other holes were extended far enough south to test this mineralized horizon. Plans are underway to continue drilling the Ricky zone. A program of 50 to 100-metre step-out holes is anticipated to fully define the 700-metre anomaly.
After completing the Long Lake drilling, the drill was mobilized to Quadro’s Staghorn property where an additional 891 meters were completed in four holes at the Marks Pond zone. These assay results are pending and will be reported once received and compiled.
Quadro owns a 100% interest in the Staghorn property, has an option to earn a 100% interest in the Long Lake and Careless Cove properties, and has an option to earn an initial 51% interest in the Tulks South property in Newfoundland.