Toronto, Ontario, August 13, 2018 – Ubique Minerals Limited (“Ubique”) announces that the plan of arrangement with GreenBank Capital Inc (CSE:GBC and OTCMKTS:GRNBF and FRA:2TL) (“GreenBank”) has been completed, and Ubique has become a reporting issuer in British Columbia and Alberta. Ubique has applied to list the Ubique common shares on the Canadian Securities Exchange (“CSE”). There is no guarantee that such application will be approved.
Ubique intends to shortly commence a phase I drilling program on its Daniels Harbour Zinc Project on the island of Newfoundland, Canada. Ubique owns 108 claims located in the Daniels Harbour area covering 27 sq kms, in two blocks. The Ubique claims cover three zones of zinc mineralization, namely P Zone, Cobo’s Pond and Tilt Pond. 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 2018 drilling program will follow up on the 2017 diamond drilling results which discovered a zone of high grade zinc mineralization extending from the area where the workings of the former Daniels Harbour zinc mine were terminated. The drilling program will also target other areas with indications of zinc mineralization. The drilling will be undertaken in more than one phase to allow analytical results from drill holes to be received fast enough to guide subsequent drilling. The host rocks are soft limestones and dolostones which are drilled very rapidly.
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 is a public reporting company in British Columbia and Alberta, which has applied for listing on the CSE. It has focused on exploration of its 100% owned Daniels 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 Daniels 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 future trading in the common stock of Ubique Minerals Limited and 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 the company 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 the company 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.