With a rich history that dates to the 1800s, Canada’s Newfoundland province has one of the most extensive mining industries in the western world. In fact, Newfoundland’s Notre Dame Bay Area made Newfoundland the former sixth largest copper producer in the world. More recently, the Fraser Institute’s Annual Survey of Mining Companies listed Newfoundland in the top ten jurisdictions for investment in 2020. This success is not limited to just Newfoundland, as Canada is among the world’s top five global producers for several minerals, including gold, cadmium and cobalt.
What makes Newfoundland such an attractive place for mining? Mining is essential to the economies of Newfoundland and Labrador. The sector employs nearly 6,800 people and generates over $4.3 billion in mineral shipments. Furthermore, the government of Newfoundland and Labrador introduced Mining the Future 2030, a project outlining plans for the future of mining in the aforementioned regions of Canada. Through this project, the government of Newfoundland and Labrador aims to open new mines, to make mining more competitive by modernizing laws and to double annual exploration allowances by 2030.
Today, top companies exploring opportunities in Newfoundland include Canstar Resources’ (TSXV:ROX) Golden Baie project in Southern Newfoundland as well as Marathon Gold’s (TSE:MOZ) Valentine Lake Deposits in Central Newfoundland. In addition, there are Matador Mining’s (ASX:MZZ) Cape Ray Deposits and New Found Gold’s (TSXV:NFG.V) Queensway project.
Quadro Resources (TSXV:QRO) is a publicly traded Canadian-based mineral exploration company exploring and developing its gold projects in central and northern Newfoundland. With a management team with extensive history in mining operations as well as proximity to areas with high mineral prospects, Quadro is in an excellent position to capitalize on Canadian gold and potentially reward investors.
Quadro currently has four exploration stage properties, all located in Newfoundland and close to early- and advanced-stage exploration projects run by established companies. Quadro’s Staghorn and Long Lake properties are located along the auriferous Cape Ray Fault Zone, an underexplored region of Canada that also hosts Marathon Gold’s Valentine Lake Deposits. Quadro also has an option to acquire an initial 51 percent interest in the Tulks South property, adjacent to the Long Lake property. Quadro has an option to acquire a 100 percent interest in the Careless Cove/Yellow Fox properties (the Careless Cove project), adjacent to New Found Gold’s Queensway project.
There are several reasons why Quadro is a potentially attractive option for investors. Not only is the company capable of benefiting from Mining the Future 2030 and has a highly experienced management team, but its projects are in an area known for gold mineralization. Furthermore, there are several nearby established competitors that have achieved positive test results and/or plan to advance their mining operations.
- Quadro is a Canadian-based mineral exploration company with a focus on gold exploration in Newfoundland.
- Newfoundland is experiencing a modern gold rush and Quadro is well positioned for discovery. Quadro has a strategic land package in the region located among established and up and coming gold projects. Drilling has been ongoing since 2020.
- Exploration and drilling programs at Staghorn and Long Lake have continued to define gold mineralization associated with the Cape Ray Fault Zone. The programs to date helped outline Staghorn’s Marks Pond zone over 300 meters and succeeded in vectoring on areas of potential higher grade below the existing holes, while the Long Lake/Tulks South field work defined the Ricky Target as a 700 m long gold anomaly. Quadro looks forward to continue the target testing in 2022. The Careless Cove property is located in Northeastern Newfoundland, in proximity to New Found Gold’s Queensway project.
- Given that gold is Canada’s reported largest mineral commodity, there is a need for untapped sources for further exploration and acquisition.
Staghorn and Long Lake Properties
Staghorn: 100 percent interest in large claim package of 160 claim units covering 4000 hectares (40 sq. km) with a 12 km strike length of the auriferous Cape Ray Fault Zone, located between Marathon Gold’s Valentine Lake deposits and Matador’s Cape Ray deposits. The Marks Pond Gold Horizon has been extended to over 600m in strike length and has proven continuity down dip. The most significant aspect of 2021 was the discovery of a lower zone of high-grade mineralization with visible gold below the main zone. Additional drilling is planned to follow up on the high-grade lower zone and wide step out drilling on the Marks Pond Horizon where a number of gold-in-soil anomalies remain to be tested.
- On January 27, 2022 Quadro announced positive results from Sep-Oct 2021 drilling at Staghorn, including a high of 29.1 g/t Au over 0.35 m within a 57.0 m wide zone grading 0.33 g/t Au and 1st definitive visible gold, below the main zone; 1.95g/t Au over 6 m; 1.1 g/t Au over 5.0 m including 1.8 g/t Au over 3.0 m, thus extending the Marks Pond Horizon 200 m to the southwest for a total of 626 m strike length.
- Feb-Apr 2021: ten holes, all targeted on the Marks Pond gold zone. The drilling consisted of a series of 50-meter spaced step-out and undercut holes to the northeast of the discovery hole MP20-02. Drilled in late 2020, this hole intersected a gold zone assaying 3.22 g/t Au over 5.0 m, within a wider intersection of 1.98 g/t Au over 12.0 m. Another hole intersected 20.37 g/t Au over 0.5 m and 3.89 g/t Au over 2.5 m in undercut drill holes. These holes were revisited for under drilling in Sep-Oct 2021.
Long Lake: 272 claim units covering 6800 hectares (68 sq. km). Quadro has an option to earn a 100 percent interest in this property located proximal to Marathon Gold’s Valentine Lake deposits. The property is located along the northwest boundary of the Marathon Gold project within an under-explored belt of mineralized volcano-sedimentary and intrusive rocks. Highlights from the property includes two areas of strong gold in soil and tills. The property provides an opportunity for new gold discoveries in the emerging Cape Ray Gold district and is complimentary to Quadro’s Staghorn claims located 35 km southeast of the newly acquire claims.
Long Lake Highlights
- On November 18, 2021 Quadro announced positive results from 2021 drilling at Long Lake/Tulks South, including discovery of a new gold zone intersected from the inaugural exploration drill program at its Long Lake property, located in Central Newfoundland. The drill program consisted of five holes (757 meters) designed to test the Ricky Gold Target. Intersections included 3.68 g/t Au over 5.4 m from hole R-021-01on the eastern end of the target and 31.7 g/t Au over 0.5 m from hole R-021-04 located 500m to the west.
Tulks South Property
Quadro has an option to acquire an initial 51 percent interest in the Tulks South claims. The Tulks Property consists of 212 claim units covering a portion of the Tulks volcanic belt. These claims are tied onto Quadro’s Long Lake property and the entire package now consists of 482 units (120.5 sq km) covering a broad Monzonite intrusive unit which trends northeast across the properties. This unit is parallel to the Valentine Lake Monzonite which hosts Marathon Gold’s Valentine Lake deposits located 7 km to the southeast of the Quadro claims.
Tulks South Highlights
- Soil Sampling & Prospecting: Previous work in 2020 on the Long Lake project included soil sampling and prospecting which defined a 700 m long gold target (Ricky Target) highlighted by a strong Au-in-soil anomaly.
- Float Samples: Numerous float samples were obtained, with values up to 33.65 g/t Au. Detailed ground magnetics and induced polarization have been completed on the Ricky target.
Careless Cove Property
Option to acquire a 100 percent interest in a 40 claims package. The Careless Cove and Yellow Fox properties (collectively the Glenwood project) are located to the northeast and are adjacent to New Found Gold Corp.’s Queensway project in the Glenwood area, where recent analysis of multiple high grade gold intersections have led to the decision to double New Found Gold Corp.’s current drill program. There has been no previous drilling on these claims.
Careless Cove Highlights
- Grab Sample Results: Grab samples revealed results including 11.8 grams per tonne of gold at Careless Cove.
- 59.413g/t Au from the main Yellow Fox showing.
T. Barry Coughlan – CEO and President
T. Barry Coughlan is a Vancouver based businessman and financier who for over 35 years has been involved in the financing of publicly traded companies. Coughlan has been involved in the financing of over thirty private companies and their subsequent listings on North American Stock Markets. He has been employed as a capital markets stock-broker in New York City, Toronto and Vancouver, and has extensive knowledge of both local and international financial markets. He is presently a director of five publicly traded companies and was previously a director of Taseko Mines Ltd., Great Basin Gold Ltd., Farallon Mining Ltd., and Continental Minerals Corp. He is also the Executive Chairman of Mineral Mountain Resources Ltd.
Wayne Reid – Vice-President Exploration
Wayne Reid has more than 35 years’ experience in exploration and mining geology, spanning a variety of Canadian geological terrane, from Newfoundland to Northern B.C. and Alaska. Reid was part of the team in the discovery of the Brewery Creek Gold Deposit in the Yukon Territory and the Boundary Massive Sulfide Deposit / Duck Pond Mine in Central Newfoundland. His experience includes gold, base metal and uranium exploration in most geological environments in North America.
Tom Wilson – Chief Financial Officer
Tom Wilson has over 43 years of senior financial experience in areas of financial planning and management including corporate governance and securities compliance for both public and private companies. Within the junior mining sector, Mr. Wilson has been the CFO for the following companies: Quadro Resources, ICN Resources, Paragon Minerals and Mundoro Capital. Previously, he was the VP/Treasurer for Cellfor Inc.; the CFO for Quest University; Corporate Controller for MDSI and Senior Manager at MacMillan Bloedel Limited.
Nelson Baker – Director
Nelson Baker has been active in the mineral exploration industry for over 50 years. Baker received his Mining Technology Diploma (1964) at the Haileybury School of Mines, in Ontario followed by a B.Sc. degree in Geological Engineering in 1968 from the South Dakota School of Mines, in Rapid City, South Dakota. He has been the President and CEO of Mineral Mountain Resources Ltd. since July 2010. Over the years, he has served on several boards particularly in the junior resource sector. He was one of the founding principles of Rainy River Resources Ltd., and served as a director, President and CEO of Rainy River from March 2005 to June 2009. During that period, he and his team successfully expanded the Rainy River gold deposit from 450,000 ounces to 5 million ounces of gold.