September 12, 2018 - 10:05 AM EDT
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Greenbank’s Portfolio Company Ubique Minerals Lists on the CSE and Commences 2018 Drilling Program




Greenbank’s Portfolio Company Ubique Minerals Lists on the CSE and Commences 2018 Drilling Program

 This news release is not for distribution or dissemination in the Unites States of America



Toronto, Ontario (FSCwire) - GreenBank Capital Inc. (CSE: GBC and OTCMKTS: GRNBF and FRA: 2TL)  (“GreenBank or the Company”) announces that Ubique Minerals Limited (CSE: UBQ) ("Ubique” ) announces it has listed its common shares on the Canadian Securities Exchange (“CSE”). The public listing by Ubique will allow investors to follow the affairs of the company more closely and in particular the progress of exploration for zinc at its Daniel’s Harbour Property in Newfoundland.

 

 “This is an exciting time for Ubique, and I would remind holders of Ubique A Warrants that they have 10 days from today to exercise their warrants after which these warrants will expire” said Gerald Harper, CEO of Ubique.

 

The Company has commenced its 2018 drilling program, and recently mobilised a diamond drill to the property. The program follows up drilling as recommended in the NI 43-101 report by Stuckless (2017), copies of which are available on the Ubique website at www.ubiqueminerals.com.

 

The initial 2017 diamond drilling program intersected zinc mineralization in six of the nine holes drilled in the Ubique claims known as the P Zone. Ubique hole UM-4-17 had an exceptionally high grade interval averaging 13.6% zinc over 12.2 metres, including individual 0.8 metre assay intervals as high as 35% zinc. All holes were drilled vertically and are believed to have intersected approximately true thicknesses of mineralization. Depths of intersections ranged between 50 and 65 metres below surface. A complete summary of the results of the drill holes is given below.

 

Six of the 2017 drill holes were drilled to test an interpreted easterly trend of mineralization extending east from the mined-out area of the P Zone. These were all successful in intersecting zinc values suggestive of a continuous deposit. This trend has been named the P-East Zone and will be one of the targets for the 2018 drill program. Other 2018 targets include the P-North Zone and the Muddy Pond Zone where historic, wide-spaced diamond drilling intersected the same favourable host environment as the P Zone. Three of the 2017 drill holes were targeted at an interpreted trend of mineralization extending north from the mined out area of the P Zone. They all intersected altered, brecciated rocks, typical of those hosting zinc mineralization elsewhere in the Daniel’s Harbour mine area, but none of these three holes revealed zinc values suggestive of a deposit.

 

Prior to the 2018 diamond drilling program commencing, company personnel have been searching for, locating and surveying the positions of many old diamond drill holes. These are being plotted up, so as to integrate their information and reported zinc values into the overall interpretation of the mineralized trends. Personnel are also extending the geochemical soil survey which was initiated last year in the Tilt Pond area of the Eastern Mineral Licenses and which revealed two anomalous areas.

 

Ubique 2017 Drilling Program Results

 

Drill Hole #

Easting

Northing

Dip

Interval

Zinc %

Zone targeted

UM-1-17

9169

3175

-90

 

Trace only

P-North

UM-2-17

9162

3176

-90

 

Trace only

P-North

UM-3-17

9180

3180

-90

 

Trace only

P-North

UM-4-17

9260

2908

-90

12.2m

13.60

P-East

UM-5-17

9344

2922

-90

0.65m

14.06

P-East

UM-6-17

9300

2894

-90

11.5m

5.06

P-East

 

 

Or

 

4.5m

10.1

P-East

UM-7-17

9348

2915

-90

1.7m

12.79

P-East

UM-8-17

9350

2906

-90

1.62m

5.1

P-East

 

 

Or

 

0.6m

10.8

P-East

UM-9-17

9307

2905

-90

4.2m

5.37

P-East

 

All 2017 program drill holes were drilled vertically and all are interpreted to have intersected approximately true widths of the mineralized zone.  The Ubique website contains plans and sections showing the recent drilling and photographs of some of the sphalerite mineralized core.

 

Ubique owns 109 claims located in the Daniel’s Harbour area covering 27 sq kms, in two blocks. The P Zone is where Ubique completed its 2017 drilling program, the highlight of which was a true width intersection of 13.6% Zinc over 12.2 metres including 17.43% Zinc over 8.6m.  The zinc mineralization intersected in the 2017 drilling program is a very pale coloured sphalerite, and characteristic of a low-iron Mississippi-Valley-Type carbonate rock geological environment analogous to many large deposits in north America. Approximately 7,000,000 tonnes averaging 7.8% zinc have been mined from the Daniels Harbour mine adjacent to Ubique’s claims, and which was milled on site and shipped as a very high grade concentrate from nearby deep water port facilities to a custom zinc smelter. (Wardle, R.J. (2000) Mineral Commodities of Newfoundland and Labrador - Zinc and Lead; Government of Newfoundland and Labrador, Geological Survey, Mineral Commodities Series Number 1, 12 pages). More information is available on Ubique’s website www.ubiqueminerals.com

 

Dr. Gerald Harper, P.Geo.(Ont), the CEO of Ubique, is the qualified person as defined by NI 43-101 responsible for the technical data presented herein and has reviewed and approved this release.

 

About GreenBank

 

GreenBank is a merchant banking business listed on the Canadian Securities Exchange (trading symbols CSE: GBC and OTCMKTS: GRNBF and FRA: 2TL), and is included in the CSE Composite Index. GreenBank’s 100% subsidiary GreenBank Financial Inc. is a merchant bank. GreenBank’s portfolio companies comprise equity investments in 16 small cap businesses, namely; 52% of Blockchain Evolution Inc, owners of the world’s first identification based blockchain, and developers of Xbook a user permissioned and revenue sharing social media platform; 15% of Ubique Minerals Limited, a zinc exploration company in Newfoundland, Canada; 50% of GBC Grand Exploration Inc, a gold exploration company in Newfoundland, Canada; 100% of Medik Blockchain Inc, providing blockchain based medical confidentiality systems to the healthcare community; 100% of Cannabis Blockchain Inc, developers of a digital information management system for the cannabis industry; 19% of Kabaddi Games Inc, developers of a mobile application game based on the sport of Kabaddi; 100% of North America Veterans Insurance Services Inc, an insurance agency holding company; 19% of Inside Bay Street Corporation, a financial news communications company; 10% of Gander Exploration Inc, a minerals exploration company in Newfoundland, Canada; 10% of Reliable Stock Transfer Inc, a Canadian small cap transfer agency; 15% of Buchans Wileys Exploration Inc, a minerals exploration company with interests in Newfoundland, Canada; 10% of The Lonsdale Group LLC, a USA based private equity company focused on small cap investments; 100% of Expatriate Assistance Services Inc, providing relocation services to expatriates; 14% of Slabdeck Technology Inc, developers of a search mobile application; 12% of KYC Technology Inc, owners of a worldwide online 24-hour “Know Your Customer” identification verification process; and 18.25% of Minfocus Exploration Corp (TSXV: MFX), a mineral exploration company;

 

For more information please see https://www.GreenBankCapitalinc.com or contact Daniel Wettreich at (647) 931 9768 or by email [email protected]nkCapitalinc.com

 

Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and trading in the common stock of GreenBank Capital Inc., the raising of additional capital and the future development of the businesses comprising GreenBank’s investment portfolio. The forward-looking information is based on certain key expectations and assumptions made by the company's management. Although the company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because GreenBank can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and GreenBank disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

 

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

 







Source: GreenBank Capital Inc. (CSE:GBC, OTC Pink:GRNBF, FWB:2TL)

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