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




Ubique Minerals Lists on the CSE and Commences 2018 Drilling Program

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Toronto, Ontario (FSCwire) - Ubique Minerals Limited (CSE: UBQ) ("Ubique or the “Company”) announces has it has listed its common shares on the Canadian Securities Exchange (“CSE”). Trading has commenced under symbol UBQ. 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 it’s 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 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 Ubique Minerals Limited.

Ubique Minerals Limited (CSE:UBQ) is a zinc exploration company listed on the CSE. It has focused on exploration of its 100% owned Daniel’s Harbour zinc property in Newfoundland, and has been funded for the last two years by private equity including Greenbank Capital Inc (CSE:GBC and OTCMKTS:GRNBF and FRA:2TL). Ubique has an experienced management group with a record of multiple discoveries of deposits worldwide, and owns an extensive and exclusive database of historic exploration results from the Daniel’s Harbour area. For more information on Ubique please contact Gerald Harper, CEO, at (416) 232-9114 or by email [email protected] or  see www.ubiqueminerals.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 Ubique Minerals Limited., the raising of additional capital and the future development of the businesse. 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 Ubique 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 Ubique 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: Ubique Minerals Limited (CSE:UBQ)

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