Toronto, Ontario, July 7th , 2022 – Ubique Minerals Limited (“Ubique”) (CSE:UBQ) announces that the 2021 diamond drilling program has been completed at the Daniel’s Harbour Property in Newfoundland and some assay results announced.
The diamond drilling program was started later than planned due to the late arrival of the equipment and as a result ran into colder than expected weather resulting in freezing problems. Subsequently extraordinary delays were encountered at the assay laboratory. Three holes probing for extensions of the 1386 Zone (UM47 – 49) with one hole having to be abandoned short of its target. Ten holes (UM-50 – 59) were then drilled in the Nose Zone target area where drilling extended the zone to the northeast and confirmed continuity of the zone to the southwest. The Nose Zone has now been defined over a strike length of more than 260 metres. The 1386 Zone and Nose Zone are on Mineral Licenses under option from Ophir Gold Corp (formerly MinKap Resources Inc.).
Assay results for zinc for all the holes where sampling was undertaken are shown in the table below. Additional sampling is underway, and the results shown do not represent complete zone intersections in all cases.
|Drill Hole||Zone targeted||Hole azimuth||Hole collar dip||From (m)||Width (m)||Zinc %|
|UM-49||1386 Zone||0°||-90°||Hole abandoned|
Drilling in the 1386 Zone was stopped after encountering technical difficulties in hole UM-49 and the drill then moved to the Nose Zone where holes UM-50 to UM-54 were drilled at the east end of the open-ended Nose Zone and none located the core the zone. Holes UM-56 to UM-59 were drilled southwesterly along the Nose Zone to probe for width limits to the zone and in the case of holes UM-57 and UM-58 demonstrated that the zone was wider than previously interpreted. The plan shown below locates the collars and traces of the Nose Zone holes with holes with greater than 8 metre percent zinc being shown in red.
The Nose and 1386 Zones trend parallel to the L Zone sequence of ore zones which were the largest deposits mined during the historic mining operation. The L Zone yielded 4.3 million tonnes of ore and had a strike length of approximately 2.5 kilometres. The currently drilled strike length of the Nose Zone is only 0.26 kilometres so a lot more drilling is needed to determine if it has a similar strike length to that of the L Zone. The three-dimensional impression below shows not only the relative positions of all these zinc zones but also the convenient location of the decline ramp which could be dewatered for easy access.
Samples analyzed at Coalia.
The company has sent samples to Coalia labs” www.coalia.ca” and asked for a complete chemical and mineral characterization to assess if additional value could be found in this mineral including PGM and REE.
Vilhjalmur Thor Vilhjalmsson CEO commented “The company is overall happy with the initial results from the 2021 drilling program despite the delays in assaying them. It is very positive and in line with the technical teams’ expectations that the Noze Zone has been extended in both directions and continuing. We look forward to the remaining assays and expect to continue our quest for a maiden resource within this historical project. We are also excited to see the results from our efforts with Coalia and see if there are other minerals of commercial value.”
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 actively looking at 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.
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.
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