Vancouver, British Columbia--(Newsfile Corp. - April 25, 2018) - Quadro Resources Ltd. (TSXV: QRO) ("Quadro" or the "Company") is pleased to provide an update regarding outlining a strong gold-in-soil anomaly from recent work at its Staghorn Gold property and its future exploration plans on both Staghorn and the recently staked Great Northern Peninsula (GNP) claims. The 100% owned Staghorn property consists of 405 claim units (101 sq km) covering a thirty kilometer strike length of the gold rich Cape Ray Fault. This structure hosts a number of significant gold deposits including Marathon Gold's Valentine Lake deposit (indicated and measured resources of 1,847,000 oz Au and inferred resources of 1,012,000 oz Au), located 30 kilometers to the northeast of Staghorn. The Great Northern Peninsula claims consist of two blocks (Pistolet and Cape Rouge) totaling 122 claim units (30.5 sq km) and cover a portion of a black argillaceous shale unit which is analogous to the geology which hosts White Metals Resources new Gunner's Cove gold discoveries (see press release dated Nov. 20, 2017).
Staghorn: At the Staghorn property, results were received from a recently completed soil sampling program (approx 800 samples) designed to cover areas of high gold potential which were not previously sampled. The results outlined a 1.6 km long gold-in-soil anomaly with a peak value of 7,233 ppb gold. The strongest part of the anomaly is within a 500 m by 125 m area defined by a number of samples assaying greater than 100 ppb Au. The anomaly is coincident with a strong magnetic low and is located on the northeast part of the property approximately 1000 m west of the high grade Ryan's Hammer float material which assayed up to 32.15 g/t Au (See QRO press release dated Aug 21, 2017).
A follow-up six month field program is scheduled to commence by mid May, or once weather conditions allow, and will initially consist of prospecting, additional soil sampling geological compilation and excavator trenching. This work will focus on a number of targets including the recently outlined Rose soil anomaly, Ryan's Hammer, the GP zone and Woods Lake East. A minimum 1,500 metre summer drill program will follow, once the initial results have been compiled.
Great Northern Peninsula: An initial field program of prospecting and geological/geochemical compilation is scheduled to commence on Quadro's two GNP claim licences in June. This program will focus on evaluating the black shale unit previously mapped on the Quadro licences. This unit hosts the Gunner's Cove style gold mineralization which may potentially represent an important new discovery in a unique geological environment similar to other large gold deposits hosted in black shale environments around the world. Results from the initial work should be available by early summer.
Barry Coughlan, CEO of Quadro stated, "The Newfoundland programs give Quadro a significant opportunity for "new" gold discoveries both in an emerging belt at the Cape Ray Fault system and in a newly discovered gold environment at Gunner's Cove. We anticipate announcing a steady flow of results over the summer."
Wayne Reid, P. Geo., VP Exploration for Quadro and a Qualified Person as defined in National Instrument 43-101, is responsible for this release and supervised the preparation of the information forming the basis for this release.
Quadro acknowledges the financial support of the 2018 JEA Program, 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 and Great Northern Peninsula properties in Newfoundland.
ON BEHALF OF THE BOARD OF DIRECTORS
"T. Barry Coughlan"
President and CEO
Tel (778) 373-6734
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release." The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. 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."
For more information on the Company, interested parties should review the Company's filings that are available at www.sedar.com.