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Quadro Announces Remaining 2021 Assay Results from Staghorn, Central Newfoundland Gold District

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Vancouver, British Columbia--(Newsfile Corp. - January 27, 2022) - Quadro Resources Ltd. (TSXV: QRO) (OTCQB: QDROF) (FSE: G4O2) ("Quadro" or the "Company") is pleased to announce the remaining assay results from its 2021 Staghorn gold project, Newfoundland. Further to its November 18, 2021, news release, in which the Company announced the discovery of a new gold zone intersected from the inaugural exploration drill program at its Long Lake property, in Central Newfoundland, Quadro's assays results from four drill holes at Staghorn remained overdue due to assay lab-related delays. After completing the Long Lake drilling, the drill was mobilized to Quadro's Staghorn property where an additional 891 meters were completed in four holes at the southwest end of the Marks Pond zone.

Figure 1: Quadro's Staghorn and Long Lake/Tulks South projects, Newfoundland.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5339/111824_4ef3ac86740229f4_002full.jpg

These assay results are reported below. Highlights include:

  • MP21-021: A high of 29.1 g/t Au over 0.35m within a 57.0 m wide zone grading 0.33 g/t Au. and 1st definitive visible gold, below the main zone.

  • MP21-023: 1.95g/t Au over 6m.

  • MP21-024: An intercept of 1.1 g/t Au over 5.0m including 1.8 g/t Au over 3.0m, thus extending the Marks Pond Horizon 200 m to the southwest for a total of 626m strike length.

Table 1 - Drill Results from 2021 Staghorn Drilling - Mark's Pond Gold Target

Survey

Azimuth/Dip

From (m)

To (m)

Intercept (m)

Grade in g/t

Comments

MP21-021

330/-55

168

255

57

0.33

Undercut of Discovery Hole

MP21-021

222.9

223.25

0.35

29.1

MP21-022

330/-55

156

163

7

0.61

Undercut of MP21-11

MP21-023

320/-62

156

158

2

1

Undercut of MP20-09

MP21-023

210

224

14

0.86

MP21-023

211

217

6

1.95

MP21-023

211

211.75

0.75

8.73

MP21-024

320/-65

121.3

131

9.7

0.62

200m step-out from previous drilling

MP21-024

123

124

1

4.79

* Reported drill intercepts are not true widths. At this time there is insufficient data to calculate true orientations.

Figure 2: Mark's Pond, Staghorn, Newfoundland.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/5339/111824_4ef3ac86740229f4_003full.jpg

Marathon Gold's Valentine Lake deposits are located proximate to the Quadro claims. (Total Measured Mineral Resources (inclusive of the Mineral Reserves) comprise 1.9 Moz (31.7 Mt at 1.86 g/t) with Indicated Mineral Resources (inclusive of the Mineral Reserves) of 1.19 Moz (23.2 Mt at 1.60 g/t). Additional Inferred Mineral Resources are 0.96 Moz (16.77 Mt at 1.78 g/t Au). (N.I. 43-101 Technical Report & Pre-Feasibility Study on the Valentine Gold Project Newfoundland and Labrador, Canada Report date: April 21, 2020 Effective date: April 18, 2020 Prepared for: Marathon Gold Corporation 10 King St. East, Suite 501, Toronto, ON, M5C 1C3 Prepared by: Ausenco Engineering Canada).
(Mineralization hosted on these established operations is not necessarily indicative or representative of the mineralization that may be hosted on the Company's property).