Outback Goldfields

Ubique Minerals Reports High Grade Zinc Assays From First Results in Fall 2020 Drilling Program

TORONTO, ON / ACCESSWIRE / January 11, 2021 / Ubique Minerals Limited ("Ubique") (CSE:UBQ) has received assay results for the first two drill holes completed on its Daniel's Harbour zinc project, which were drilled in the PE Zone to test for eastern and southern extensions. Both were successful with the south side hole, UM-37, intersecting 10.63 metres of 4.02% zinc including shorter intervals as high as 25.40% zinc in a vertical hole starting at 58.17 metres.

Notable, hole UM-36 was drilled vertically farther east than any hole drilled so far and intersected 10.50% zinc over the very last 0.30 metres of the hole depth from 85.20m. Results are listed in the table below and the locations of the holes are shown in the attached plan which distinguishes between high and low grade intersections in holes. The plan shows the location of a section east-west across the area showing the significance of hole UM-36. The sediments including the stratabound zinc zone dip easterly across the section at about fifteen degrees but just west of hole UM-36 the hosting stratigraphic units thicken considerably and the zinc zone steepens its dip.

Gerald Harper, CEO, said "These new results are compelling as they demonstrate the potential for more high grade areas beyond the historical mine zones. The high grade intercept in hole UM-36 is particularly welcome because it is the most easterly point yet drilled. We are eager to follow up hole 36 with an adjacent hole to a deeper depth to reveal the full width of the zinc zone. The steepening of dip and thickening of strata indicate is a possible collapse structure which may be related to one or more faults. Such features can host substantial zinc mineralization. These results are a very positive contribution to our efforts to revive the high grade Daniel's Harbour zinc project".

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

Junior Mining Network

Junior Mining Network

Drill hole

From (m)

To (m)

Interval (m)

Zinc %

UM-36

84.38

84.90

0.52

0.37

 

84.90

85.20

0.30

0.38

 

85.20

85.50

0.30

10.50

   

85.50

 

End of hole

         

UM-37

58.17

58.61

0.44

22.70

 

58.61

59.65

1.04

0.15

 

59.65

59.92

0.27

6.51

 

59.92

60.70

0.78

0.39

 

60.70

61.06

0.36

12.90

 

61.06

62.76

1.70

0.10

 

62.76

63.07

0.31

25.40

 

63.07

63.80

0.73

0.59

 

63.80

65.50

1.70

0.03

 

65.50

66.50

1.00

1.45

 

66.50

67.52

1.02

10.90

 

67.52

68.53

1.01

0.09

 

68.53

68.80

0.27

17.30

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 This email address is being protected from spambots. You need JavaScript enabled to view it. 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.

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Ubique Minerals

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Market Cap: C$2.980M
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