Ubique Minerals Reports More High Grade Zinc Assays From Fall 2020 Drilling Program

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TORONTO, ON / ACCESSWIRE / January 25, 2021 / Ubique Minerals Limited (“Ubique”) (CSE:UBQ) has received assay results for the balance of the drill holes completed on its Daniel’s Harbour zinc project. All nine were drilled on Mineral Licenses under option from Ophir Gold Corp.(formerly Minkap Resources). Holes UM-38 – 43 tested a new, very shallow target, the 2160 Zone, with the highest grade hole intersecting a remarkable 34.6% zinc over 0.75 metres. Holes UM-44 – 46 were drilled in the Nose Zone and extended the strike length of this zone by 75 metres to the northeast which gives it a total defined length of more than 250 metres. MinKap Resources Inc., with whom Ubique has the option agreement, has changed its name to Ophir Gold Corp.

The six holes drilled to locate the 2160 Zone were successful in locating stratabound zinc mineralization dipping westerly at 15° at extremely shallow depths, the shallowest intercept starting at 4 metres vertically below surface and the deepest intercept at 11 metres depth. The attached plan shows the locations of the zones drilled and their position relative to former mine workings and mine access. The 2160 Zone drilling was along a single section line as shown below.

The Nose Zone drilling results are shown in the table below and in the longitudinal section attached. Overall intersections are 4 – 6 metres long with alternating higher and lower grade zinc sections ranging up to 24% zinc. All but one of the newly drilled holes were vertical except for UM-46 which was drilled at -75° to the northeast which means that it cut the stratabound zinc horizon at close to a true width.

Gerald Harper, CEO, said “we are very pleased with the results from the drilling, particularly in the Nose Zone, as the zone now is demonstrated to have more than 250 metres of strike and is open at both ends, making it a priority for additional drilling. It parallels one of the largest ore zones mined in the former mine and is also close to the decline ramp access to that ore zone”.

All assays were undertaken by Eastern Analytical Ltd of Springdale, Newfoundland and Labrador. Eastern Analytical is I.S.O. 17025 Accredited in Fire Assay Au, as well as in multi-acid ore grade assays in Cu, Pb, Zn, Ag, Fe and Co. Standards and blanks were inserted by the company and the laboratory and all reported within acceptable limits. For all the holes except UM-46, the intervals assayed in the drill holes are estimated to be 95 – 98% of true widths of the mineralized zone assuming a dip of the zone of 10 – 15°. Holes UM-38 to UM-45 were all drilled vertically and UM-46 was drilled with a collar dip of -75° towards an azimuth of True North 40° East. The intervals in UM-46 are estimated to be 80 – 85% of true width of the mineralized zone.

Ubique’s exploration programs in 2017 and 2018 received financial support from the Government of Newfoundland and Labrador’s Junior Exploration Assistance Programs and the Company has applied for financial assistance from the program for 2020 as well.

The above illustrations are also available on the Ubique website at www.ubiqueminerals.com

About Ubique Minerals Limited.

Ubique Minerals Limited 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 was initially funded 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 undertaken three drilling programs on its Daniel’s Harbour zinc project, all of which were successful in delineating zinc mineralization extending from the vicinity of former mine workings. Ubique has an experienced management group and owns an extensive 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 the website at 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

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