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Ubique Completes Daniel’s Harbour Zinc Project Geochemical Survey, Highlights Anomalies

Wednesday, 28 February 2024 08:30 AM

Ubique Minerals Limited

TORONTO, ON / ACCESSWIRE / February 28, 2024 / Ubique Minerals Limited ("Ubique" or the "Company") (CSE:UBQ)(FRA:2UM) is pleased to announce that it has completed the geochemical surveys at its Daniel's Harbour zinc project and identified high zinc in soil anomalies in the enlarged property area.

A contractor was retained in fall 2023 to undertake more geochemical surveys in areas previously unsurveyed and to link up with existing surveyed areas where anomalies are open ended. The geology has now been compiled into an integrated map of the whole property highlighting the features known to be associated with the zinc deposits to locate the most favorable target areas for new zinc deposits that either occur at surface or at very shallow depths such that open pit mining would be practical.

The attached maps show the excellent location of this property with a paved road right onto the property and gravel roads giving good access to the rest of the property and the areas where soil anomalies have been identified. The first map also shows the locations of the second and third maps as well as two of the zinc deposits which Ubique has discovered and been drill defining. The Nose Zone at the southwest end of the geological trend is at a depth of more than 100 metres, while the P Zone is only 50 metres below surface as the hosting geology approaches surface. The areas of Maps 2 and 3 where most of the anomalies have been located are where the hosting geology is closest to surface.

The highest soil zinc values encountered in the survey reached almost 10,000 parts per million or 1% zinc. Cadmium and to a lesser extent lead values in soil are also elevated anomalously. Several of the areas which are contoured dark blue reflect areas where samples could not be collected due to the existence of bogs or ponds and therefore may be biasing the zinc contours distribution. Several of the anomalies have surface extents of several hundred metres which would be comparable with surface extents of historically mined out deposits from the period of prior mining. Lack of surface outcroppings prevents determination of whether the anomalies reflect bedrock zinc occurrences or boulders of zinc mineralized rock dragged down ice by glacial movement.

Vilhjalmur Thor Vilhjalmsson CEO and Chairman commented "We are encouraged by these results and must follow up to explain the sources of the anomalies as well as expanding the coverage of the surveys to close off each of the anomalies. It indicates that the zinc deposits could potentially extend all along the length of the property area"

Area 1 as located on first map

Area 2 as located on first map.

About Daniel's Harbour project

The Daniel's Harbour properties of Ubique cover both the area of the past producing high grade zinc mine and extensions of favorable area, mostly to the north-northeast along strike for more than ten kilometers. Exploration drilling to date has confirmed three zinc deposits and has indications of two more which require additional definition drilling to define their extents. Several more zones identified by one or more historic drill holes require relocating and further drilling to confirm. As the deposits are long, narrow and flat lying-in shape and orientation, within flat lying dolomitic sedimentary rocks they may extend across more than one blocks of claims and therefore the ability to consolidate the property position will assist in exploration execution.

On behalf of the board of directors,

Vilhjalmur Thor Vilhjalmsson
CEO and Chairman

About Ubique Minerals Limited

Ubique Minerals Limited is an exploration company listed on the CSE (CSE:UBQ) focused on exploration of its Daniel's Harbour zinc property in Newfoundland and is also engaged in exploration in Namibia, Africa along with actively searching for other projects around the world. 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.

Dr. Gerald Harper, P.Geo.(NL), director 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.

For more information on Ubique please contact see or contact [email protected]

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

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