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Ubique Directors Personally Invest Alongside Ubique in deal for Namibian Exploration Projects
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About this update from Ubique Minerals Ltd.
[{"type":"text","content":"Ubique Directors Personally Invest Alongside Ubique in deal for Namibian Exploration ProjectsThis news release is not for distribution or dissemination in the United States of AmericaTORONTO, ON / ACCESSWIRE / March 14, 2022 / Ubique Minerals Limited (\"Ubique\") (CSE:UBQ) is pleased to announce that five of its six Directors have decided to personally invest alongside Ubique in Resource 500 V Ltd (\"R500\"), an Irish exploration company that holds 6 mineral exploration licenses and applications for 2 more licenses in Namibia, Africa.Following on from the investment made by Ubique in R500 last month valued at CDN $530,000, the following Directors have all decided to invest personally in R500. Vilhjalmur Vilhjalmsson, Pete Wanner, David Lonsdale, Mark Wettreich and Gaurav Singh.Vilhjalmur Thor Vilhjalmsson, CEO of Ubique Minerals commented \"the Directors of Ubique clearly are excited about the prospects in Namibia and were pleased to invest alongside Ubique. The projects in Namibia are aligned with our vision of coming in at an early stage of the projects. Our Directors look forward to working closely with the R500 team in building on the existing targets working, making new discoveries and reporting that to our shareholders\"The projects;Readers are referred to the map below which is copied from a Namibian Geological Survey Report (1992, ISBN 0-86976-258-3).R500 has acquired exploration Licenses (\"EPLs\") in the Otavi Mountain Land of northern Namibia, largely covering similar geology to that which hosts the most prolific base metal mines in the history of Namibia. They include Tsumeb and Kombat. Tsumeb operated for over 100 years and produced very high grade ore of copper, zinc, lead and cadmium. Other deposits in the area that have been mined included vanadium in the mix of metals extracted. Although Tsumeb has been mined out the smelter and surface plant is still operated as a custom processing plant. Kombat has recently been re-opened by a Canadian company Trigon Metals Inc. Tsumeb lifetime production is at least 20 million tonnes with a grade of >5% copper, 10% lead, 3% zinc and several ounces per tonne of silver. At various times additional minerals recovered included germanium and gallium. Ore reserves at the end of 1991 were stated as 1,065,000 tonnes grading 5.78% copper, 3.50% lead and 179 grams per tonne silver. ...