This news release is not for distribution or dissemination in the Unites States of America
Toronto, Ontario, October 2nd, 2018 – Ubique Minerals Limited (CSE:UBQ) (“Ubique” or “the Company”) is pleased to announce that it has received the first set of assay results from its ongoing diamond drilling program at its Daniel’s Harbour property in western Newfoundland. Results of samples from the first seven holes UM 10-18 through UM 16-18 show several high grade zinc intersections, highlighted by a 0.63 metre length grading 47.1% zinc within a longer intersection of 6.05 metres grading 16.00% zinc in hole UM 13-18. Full results are given below.
Ubique 2018 Drilling Program Results
|
Drill Hole # |
Starting depth (m) |
Width (m) |
Assay Zn % |
|
UM-13-18 |
46.55 |
6.05 |
16.00 |
|
Including |
49.60 |
0.55 |
28.90 |
|
|
50.70 |
0.63 |
47.10 |
|
|
51.33 |
1.00 |
38.20 |
|
UM-14-18 |
48.50 |
10.43 |
8.41 |
|
Including |
48.5 |
8.60 |
9.77 |
|
And |
49.87 |
0.5 |
24.4 |
|
And |
54.59 |
0.74 |
38.4 |
|
And |
55.7 |
0.2 |
39.1 |
|
UM-15-18 |
51.0 |
3.24 |
7.16 |
|
Including |
51.3 |
0.55 |
31.2 |
|
UM-16-18 |
53.73 |
3.74 |
7.30 |
|
Including |
56.9 |
0.38 |
30.3 |
All drill holes are vertical and intersections are considered to be close to true widths as the dip of the zone is less than 10 degrees. All analyses were undertaken by Eastern Analytical Laboratories of Springdale, Newfoundland.
Drill holes UM 13, UM 14, UM 15 and UM 16 were all drilled in the area of the P-East Zone and were step out holes from the holes drilled in 2017 which also intersected very high grade zinc values at similar depths. The zinc mineralization occurs in the form of coarse grained, pale yellow to honey brown coloured sphalerite with more than 50% of the rock being sphalerite in the highest grade intervals. The balance of the rock is limestone or dolostone.
Dr. Harper, Chief Executive Officer of Ubique Minerals commented that “these impressive zinc intersections indicate that a flat lying zone of high grade zinc mineralization is starting to be defined in the P-East area and further drilling will be necessary to determine how extensive is such a zone. Holes UM 10, UM 11 and UM 12 were drilled to probe the possibility of an extension to the P-North Zone. Weak zinc mineralization was encountered in hole UM 12 suggesting that it may be close to an enriched area on the extension of the formerly mined P-North area and further drilling is warranted there”.
Details of the positions and orientations of the 2017 program drill holes were provided in the Ubique press release dated September 12th, 2018 and are shown again below with the addition of the 2018 holes drilled for which results have been received. More information can be acquired on the Ubique Minerals website at www.ubiqueminerals.com
|
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 |
|
UM-10-18 |
9186 |
3169 |
-90 |
|
|
P-North |
|
UM-11-18 |
9191 |
3163 |
-90 |
|
|
P-North |
|
UM-12-18 |
9155 |
3172 |
-90 |
|
Trace only |
P-North |
|
UM-13-18 |
9246 |
2913 |
-90 |
6.05 |
16.00 |
P-East |
|
UM-14-18 |
9259 |
2901 |
-90 |
10.43 |
8.41 |
P-East |
|
UM-15-18 |
9267 |
2887 |
-90 |
3.24 |
7.16 |
P-East |
|
UM-16-18 |
9295 |
2886 |
-90 |
3.74 |
7.30 |
P-East |
Note that locations are only approximate and will be confirmed by a formal survey once all the holes planned for this program are completed.
Further results are awaited from the diamond drill holes up to number UM19-18 which were drilled prior to the Labour Day break by the drill crew. Drilling was subsequently resumed and drill holes UM20-18 through UM28-18 were drilled prior to demobilizing the drill for the season. More core is being sampled and despatched to the laboratory.
Ubique Minerals’ Directors were very sad to learn of the passing away of the Chairman of the Board of Ubique Minerals, Mr. Danny Wettreich. He was instrumental in creating the company, acquiring the Daniel’s Harbour property and arranging for the initial discovery drilling. It is particularly unfortunate that he did not live long enough to become aware of the latest drill results which reinforce his belief in the company and project. The Board of Directors met recently and appointed Mark Wettreich, to take his father’s seat on the Board of Ubique Minerals and also appointed David Lonsdale as the new Chairman of the Board. David is the Chief Executive Officer of Greenbank Capital, a major investor in Ubique Minerals.
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 (CSE:UBQ). 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 gharper@ubiquezinc.com 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 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