Quadro Resources Ltd. - Big Duck Lake Property

Overview Nipigon Uranium Project Big Duck Lake Property

BIG DUCK LAKE GOLD PROPERTY

The 100 % owned Big Duck Lake property consists of a total area of 2,900 hectares. It is located 5 kilometres southeast of the Winston Lake Mine. It lies within the Wawa-Shebandowan trend 80 kilometres from the famous Hemlo gold camp, the latter which has over the past 20 years produced approximately 25 M oz Au. Numerous gold occurrences occur on the property, which are associated with an east-west trending shear zone network. Diamond drill intercepts of up to 4.9 m grading 17.31 g/t gold have been obtained historically. The Coco-Estelle occurrence in the western part of the property has a historical resource of 53,700 tonnes grading 10.7 g/t gold. (Note: The resource estimate is non 43-101 compliant and the company is not treating it as a current resource).

A mapping program has traced a network of shear zones across the entire 5.2 km length of the property along the northern margin of Big Duck Lake. The shear zone network is up to 100m wide, and hosts sub-parallel and bifurcating sulphidized shear zones. It is localized along the north contact of a quartz porphyry that is marked by fragmental rocks with clasts of porphyry in amphibolite grade mafic rocks. The presence of these fragmental rocks and associated porphyry, occurrence of mineralization in the fragmental unit north of the porphyry biotite alteration, and associated Mo-Ba-Cu geochemistry of the gold mineralization are all characteristics shared by Big Duck Lake mineralization and the mineralized zones at Hemlo.

The Company completed an initial diamond drill program on the property in 2006, which consisted of 17 diamond drill holes totalling approx 3,500 meters. The drilling program intercepted Au mineralization in most drill holes, typically associated with low grade Cu mineralization (0.1-0.2% Cu), and anomalous Mo and Zn concentrations in pyrite-pyrrhotite bearing shear zone intervals within mafic volcanic rocks and deformed porphyry lenses (see our news release of February 22, 2007).

Although economic grades were not obtained during the drilling program, while recognizing that only 17 holes were drilled, the company continues to view the Big Duck Lake property as prospective. The drill holes are widely distributed over an approximate 3.5 km strike length along the Big Duck Lake shear zone system, and areas between and below the broader intercepts remain prospective, as well as extensions of geophysical targets which occur over known extensions and branches of the mineralized shear zones. An additional Induced Polarization (I.P.) geophysical survey will be considered to identify and trace out further prospective areas along the structures. The low grade, but broad intercepts may reflect up dip or lateral projections of larger mineralized areas which could be host to mineralization of economic grades, as is demonstrated by the Coco-Estelle prospect. Proposed diamond drilling in a few targeted holes will focus on tracing the areas of broadest Au-Cu-Mo mineralization down known lineation plunge and mineralization plunge directions to test for the presence of higher grade areas, beyond the generally shallow depths tested by the current and historical drilling.

Maps & Photos

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