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TORONTO, ON / ACCESSWIRE / October 20, 2020 / Ubique Minerals Limited ("Ubique")(CSE:UBQ) announces that mobilization of a diamond drill to the Daniel's Harbour Zinc Project is underway. Goechemical soil surveying has been initiated on the East Mineral License to further define areas adjacent to the locations of soil zinc anomalies.
Ubique's Daniels Harbour Zinc Project - Plans for 2020 Diamond Drilling Program.
Ubique owns three mineral licenses located in the Daniel's Harbour area in Newfoundland, Canada, covering more than 6 sq. kms, in two blocks and has another four mineral licenses covering more than 10 sq. kms. under option from MinKap Resources Inc. The Ubique licenses cover at least three zones of zinc mineralization, one of which is the P Zone where Ubique completed most of its 2017 and 2018 drilling programs, the highlight of which was a true width intersection of 13.6% Zinc over 12.2 metres including 17.43% Zinc over 8.6m. There are now 28 drill holes in this target area with zinc intersections with greater than 4% zinc over at least 2 metres true widths. The KAP Option licenses cover many areas of the historic mining activity and research has already identified five high priority drill target areas where historic drilling intersected zinc mineralization, including a true width interval of 5.73m of 8.96% zinc in the 1386 zone target. Two of these drill target areas have been relocated (the 1386 and Nose Zones), the historic drill holes identified and new holes drilled confirming the location and grade of mineralization in 2019.
Ubique's drilling will follow up on the 2017 - 2019 diamond drilling results and extend those identified zones of zinc mineralization. The drilling will target the PE Zone and PN Zone on the Ubique wholly owned licenses and the 2160 Zone, Nose Zone and 1386 Zone on the KAP Option licenses. The 2160 Zone is a new target where the zinc mineralization is very shallow at less than 30 metres vertical depth.
The zinc mineralization intersected is a very pale coloured sphalerite, 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 Daniel's Harbour mine and after concentrating on site was 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).
Soil sampling is underway on the Ubique East Mineral Licenses where sampling in 2018 identified a zinc anomaly which was expanded by more sampling in 2019. The limits of the anomaly were not defined and more sampling is intended to better define the anomaly.
Funding for both the 2017 and 2018 diamond drilling programs was financially supported, in part, by grants from the Government of Newfoundland and Labrador under their Junior Exploration Assistance Program. Application has been made for a similar grant to support the 2020 diamond drilling program. The company has been granted an extension of time to November 29, 2020 with price protection by the CSE to complete its previously announced flow through share financing as reported by press release September 1st 2020.
About Ubique Minerals Limited.
Ubique Minerals Limited is a zinc exploration company listed on the CSE (CSE:UBQ) focused on exploration of its Daniel's Harbour zinc property in Newfoundland. It was funded for its first two years by private equity including that from Greenbank Capital Inc (CSE:GBC and OTCMKTS:GRNBF and FRA:2TL). Ubique became a publicly listed company in September 2018. 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
Dr. Gerald Harper, P.Geo.(NL), 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.
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 business. 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