- Quadro Resources (QRO) has closed an option agreement with TRU Precious Metals Corp
- The option agreement allows TRU to acquire up to 65-per-cent ownership in Quadro’s Staghorn Project located in central Newfoundland
- The Staghorn Project is a large claim package of 133 claim units in eight mineral licences covering 3,325 hectares with a 12 km strike length of the auriferous Cape Ray Fault Zone
- TRU has issued 1,084,171 common shares to Quadro under the option agreement
- Quadro is a mineral exploration company focused on the gold-rich Cape Ray Fault system
- Quadro Resources Ltd. opened the day’s trading at $0.025 per share
Quadro Resources (QRO) has closed an option agreement with TRU Precious Metals Corp.
The option agreement allows TRU to acquire up to 65-per-cent ownership in Quadro’s Staghorn Project located in central Newfoundland.
The Staghorn Project is a large claim package of 133 claim units in eight mineral licences covering 3,325 hectares with a 12 km strike length of the auriferous Cape Ray Fault Zone.
The Staghorn Project comprises two distinct groups of licences immediately within and adjacent to TRU’s flagship Golden Rose Project.
TRU has issued 1,084,171 common shares to Quadro under the option agreement.
The deemed price of such issuance shares is approximately $0.092 per share, representing the volume-weighted average trading price of TRU’s common shares on the Exchange for the 20 previous consecutive trading days.
“We are pleased that TRU has closed the Staghorn Option,” stated T. Barry Coughlan, CEO & President.
“TRU’s existing claim package of its Golden Rose Project is contiguous to the Staghorn claims, and it is, therefore, a strategic exploration expansion for it to option Staghorn,” he added.
Quadro is a mineral exploration company focused on the gold-rich Cape Ray Fault system, described as one of Canada’s most prospective but under-explored regions.
Quadro Resources Ltd. opened the day’s trading at $0.025 per share.