Ubique Minerals Ltd. New Year Corporate Update
TORONTO, Jan. 4, 2022 - Ubique Minerals Ltd. ("Ubique") (CSE:UBQ) would like to update its shareholders on its ongoing corporate developments. During the last twelve months the Company has further engaged in its Daniel's Harbour project and strengthened its management team along with looking beyond borders to engage in frontier markets.
Highlights
- Drilling and further advancements at the Daniel's Harbour Flagship project
- Management and strategic changes
- New projects and developments
- Agoracom Online Marketing Agreement.
- New website and social media interactions
Drilling and further advancements at the Daniel's Harbour Flagship project.
Ubique owns three mineral licenses located in the Daniel's Harbour area in Newfoundland, Canada, covering more than 6 sq. kms, in two blocks and has another four mineral licenses covering more than 10 sq. kms. under option from MinKap Resources Inc. ("KAP") (now Ophir Gold Corp.). The Ubique licenses cover at least three zones of zinc mineralization, one of which is the P Zone where Ubique completed most of its 2017 2018 and 2019 drilling programs, the highlight of which was a true width intersection of 13.6% Zinc over 12.2 metres including 17.43% Zinc over 8.6m. There are now 28 drill holes in this target area with zinc intersections with greater than 4% zinc over at least 2 metres true widths. The KAP Option licenses cover many areas of the historic mining activity and research has already identified five high priority drill target areas where historic drilling intersected zinc mineralization, including a true width interval of 5.73m of 8.96% zinc in the 1386 zone target. Two of these drill target areas have been relocated (the 1386 and Nose Zones), the historic drill holes identified and new holes drilled confirming the location and grade of mineralization in 2019. The 2021 drilling program will concentrate on these two zones, extending them and starting to define dimensions for resource estimates.
The zinc mineralization intersected is a very pale coloured sphalerite, 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 Daniel's Harbour mine and after concentrating on site was 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).
Soil sampling has been undertaken on the Ubique East Mineral License where sampling in 2018 identified a zinc anomaly which was expanded by more sampling in 2019 - 2020. The limits of the anomaly were not defined and the additional sampling has been undertaken in 2021 to better define the anomaly. Over 300 samples have been sent to a laboratory for analyses.
Diamond drilling on the island of Newfoundland in 2021 has taxed the capacity of the industry and the Company was not able to finish its drilling in 2021 and is expected to finish the program in Q1 2022.
Funding for the 2017, 2018 and 2020 diamond drilling programs was financially supported, in part, by grants from the Government of Newfoundland and Labrador under their Junior Exploration Assistance Program. Application has been made for a similar grant to support the 2021 diamond drilling program.
The Company will, in the year 2022, focus on further enhancing the project, finish the drilling program and fulfill the obligations to Ophir Gold in accordance with the earn in/option agreement. The Company expects to disclose the results of the 2021-2 program in Q2 2022.
Management and strategic changes
In July 2021 Mr Vilhjalmur Thor Vilhjalmsson took the role of director and interim CEO of the Company. Gerald Harper P.Geo and previous CEO took on the role of director and Qualified Person for the Company.
With new management the Company has revised its strategy and will now look at further strengthening its exploration portfolio of projects. The company will be looking towards undervalued assets that are available and in need of management and professional development.
New Projects and Developments
The Company has during the second half of 2021 reviewed and been in negotiations with numerous projects owners in Canada, Greenland, Scandinavia and Africa. It is expected that the portfolio of the company will enlarge within Q1 and Q2 2022 with successful conclusion of some of these negotiations.
Agoracom Online Marketing Agreement
The Company has engaged in an online marketing agreement with Agora Internet Relations Corp. "Agoracom". The agreement is a 12-month online awareness campaign and includes a corporate space within Agoracom website and its verified forum see: https://agoracom.com/ir/UbiqueMinerals, a social media campaign, interviews with management and online distribution of promotional material.
The Company will pay in total CAD$100.000 + HST for the Agoracom services.The payments are made in 5 instalments of $20.000 each and are paid in shares at the closing price of the date issued. The agreement ends 30th November 2022.
About Agoracom
AGORACOM is the Web 2.0 online marketplace and forum for citizens of the small-cap investment community. Public companies, shareholders and prospective shareholders can interact for the purposes of communicating in a monitored and secure environment.
AGORACOM averages
- 5.2 million Visits Per Year
- 55 million Page Views Per Year
- Has Provided Online Investor Relations and Marketing To Over 300 Small Cap Companies
New website and social media interactions
The Company will launch a brand new and updated website within Q1 2022 along with new twitter, Facebook and LinkedIn social media accounts. This is a part of the plan to interact with stakeholders in a modern way and build on the service provided by Agoracom.
Vilhjalmur Thor Vilhjalmsson CEO commented "since joining the Company in June last year it has been a privilege to work with the Ubique team. We have now advanced the Daniel's Harbour project and expect to finish the drilling in the first quarter of 2022. We have also agreed and implemented a strategy to acquire and develop other exploration projects and using the Ubique meaning "anywhere-everywhere" minerals have no borders. The management team has experience in operating around the globe and in various minerals. I look forward to engage in that strategy and widen the horizons for Ubique"
Om behalf of the board of Directors
"Vilhjalmur Thor Vilhjalmsson"
Vilhjalmur Thor Vilhjalmsson CEO and Director.
About Ubique Minerals Limited
Ubique Minerals Ltd. 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.
For more information on Ubique please contact see www.ubiqueminerals.com or contact vilhjalmur@jvcapital.co.uk
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 Ltd.., 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 Ltd.