During the past six months, Quadro has added two significant properties to its portfolio, the Long Lake gold project in central Newfoundland and the Seagull Lake PGE property in western Ontario. These new additions, along with its Staghorn gold property in Newfoundland, gives the business exceptional exposure to two of the most exciting exploration regions in Canada, which contain two of the most highly valued and in-demand commodities, gold and platinum-palladium. Staged work programmes are planned for both project areas once the present seasonal weather conditions are eased and fieldwork can be carried out in a safe manner.
The Victoria Lake Gold Project, Newfoundland and Labrador is located in west-central Newfoundland, the project comprises the Staghorn property and the recently optioned Long Lake property. Both properties cover portions of the auriferous Cape Ray Fault system which hosts a number of active gold exploration programmes including Marathon Gold's Valentine Lake deposits where an on-going drill programme is expanding on proven multi-million-ounce gold resources.
Work will initially start on the Long Lake claims, located along the north boundary of Marathon Gold's property. Highlights from this property include two areas of strong gold-in-tills which have never been followed up. The recovered gold grains consist of mostly silt-sized pristine and modified grains which suggest that the samples were collected in close proximity to the source mineralisation. An exploration programme consisting of prospecting, geochemistry and excavator trenching is planned. Follow up drilling will commence shortly after.
The Staghorn project is located 30km southwest of Marathon's Valentine Lake deposits. Drill targets include the Ryan's Hammer prospect, located in the northeast end of the property, where prospecting has uncovered numerous angular float of altered diorite containing high-grade gold up to 32.15g/t. Limited drilling has defined two gold-rich horizons. The eastern zone was discovered by Benton Resources Inc. in 2015 when it intersected 0.22g/t Au over 42.6m in altered diorite. The eastern horizon located 600m across strike to the west was drilled by Quadro in 2018 resulting in an intersection of 0.145g/t Au over 50m in a graphitic horizon. True widths of either zone are not known as there has been no follow-up drilling done on these zones.
A second target in this area is also slated for drill testing. The Marks Pond Au-in-Soil anomaly is defined as a strong 800m by 300m soil anomaly (up to 7,000ppb Au) which is coincident with the northern edge of a diorite plug and the regionally significant Rogerson Lake conglomerate.
Quadro has an option to earn a 70 per cent interest in 192 claim units covering the Seagull Lake Ultramafic Intrusion at the Seagull Lake PGE Project, Ontario. The claim units host a number of PGE discoveries identified in drilling, trenching, and prospecting.
The property is located one hour north of the city of Thunder Bay in Northwest Ontario and 28km north of the new copper, nickel, platinum, palladium discoveries of Rio Tinto and Magma Metals, now Panoramic Resources Ltd. The Impala Canada (formerly North American Palladium) Lac des Iles mine, located 50km northwest of the Seagull Lake property, is the only primary producing palladium mine in Canada. Mineralisation hosted on adjacent and/or nearby properties is not necessarily indicative of mineralisation hosted on the company's property.
Prior to the Quadro/White Metal Resources Corp. option agreement, previous exploration work on the Seagull Intrusion had outlined different styles of PGE mineralisation including the discovery of the Norilsk-type Cu-Ni-PGE-rich basal sulphide mineralisation.
Since the acquisition, Quadro has initiated a compilation of the historic work and prioritised a number of PGE targets for drill testing. These include step-out holes to test continuity and extensions to the high-grade discoveries identified in historic drilling and testing a PEM off-hole geophysical anomaly that was never properly tested in the previous drilling.
The company will also test a magnetic anomaly considered to be the feeder zone for the Seagull Intrusion and a possible source of the copper, nickel, PGE mineralisation. Additional targets include the up-dip potential of the Lower Dunnite Reef Zone PGE mineralisation.
Quadro anticipates a robust programme of drilling on both the Victoria Lake prospects and Seagull Lake project. Approximately 4,000m is allocated for the initial stage one programme (2,000m on each project area). This along with associated target definition and results' compilation is anticipated to take six to eight months with a follow-up stage two drill programme to be carried out as results dictate.
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