- Quadro Resources (QRO) announced it has intersected a new gold zone in Newfoundland
- The company made the discovery during the inaugural exploration drill program at its Long Lake property in Central Newfoundland
- A preliminary evaluation of the drill holes and assay results indicate that the gold mineralization intersected during the program is open for expansion
- The drill program was made up of five holes, totalling 757 metres
- Quadro Resources is down 7.69 per cent, trading at $0.06 at 11:29 am ET
Quadro Resources (QRO) announced it has intersected a new gold zone in Newfoundland.
The company made the discovery during the inaugural exploration drill program at its Long Lake property, located in Central Newfoundland.
The drill program was made up of five holes, totalling 757 metres.
The program was designed to test the Ricky Gold Target.
Drilling intersected 3.68 grams of gold per tonne over 5.4 metres.
The Vancouver-based mineral exploration company has identified a number of zones that have been partially defined from the drilling including a high-grade narrow zone.
However, at this time, reported drill intercepts are not true widths as there is insufficient data to calculate true orientations.
Previous fieldwork by Quadro over the past two field seasons had targeted a northeast striking quartz monzonite unit located approximately 7 kilometres northwest of the monzonite unit hosting Marathon Gold’s Valentine Lake deposits.
A preliminary evaluation of the Ricky Zone drill holes and assay results indicate that the gold mineralization intersected in this program is open for expansion.
The company remains focused on exploring for gold in North America.
Quadro Resources is down 7.69 per cent, trading at $0.06 at 11:29 am ET.