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Ubique Mineral Soil Geochemistry Anomaly Expansion, Changes to MinKap Option Agreement Details, Filing of Annual Financials and Insider Share Purchases
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About this update from Ubique Minerals Ltd.
[{"type":"text","content":"Ubique Mineral Soil Geochemistry Anomaly Expansion, Changes to MinKap Option Agreement Details, Filing of Annual Financials and Insider Share PurchasesThis news release is not for distribution or dissemination in the United States of AmericaTORONTO, ON / ACCESSWIRE / December 10, 2019 / Ubique Minerals Limited (\"Ubique\")(CSE:UBQ) announces it has received the results of additional soil samples collected from the East Mineral License in their Daniel's Harbour zinc project which expands the zinc anomaly. Ubique and MinKap Resources Inc. (\"KAP\") have agreed to modify the timing of certain work and payment commitments in their Option Agreement for Daniel's Harbour Mineral Licenses. Ubique has filed its annual financials for the financial year ending July 31st, 2019.Ubique's Daniels Harbour Zinc ProjectUbique owns 85 Mineral Licenses located in the Daniel's Harbour area in Newfoundland, Canada, covering more than 21 sq. kms, in two blocks and has another 42 Licenses covering 10 sq. kms. under option from MinKap Resources Inc. The Ubique Licenses cover three zones of zinc mineralization, including the P Zone where Ubique completed most of its 2017 and 2018 drilling. The highlight of the P Zone drilling was a true width intersection of 13.6% Zinc over 12.2 metres including 17.43% Zinc over 8.6m. More than 20 historic and recent drill holes in this target area have intersections with greater than 4% zinc over at least 2 metres true widths and demonstrate the zone extends for more than 150 metres. The KAP Option claims cover areas of historic mining activity and research identified five high priority drill target areas. The former drilling at each of these sites is considered as historic and not acceptable under the criteria defined by National Instrument 43-101 without demonstrated duplication and validation. Diamond drilling in 2019 by Ubique was successful in relocating three of those targets and confirming the zinc mineralization.The zinc mineralization 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. Seven million tonnes, averaging 7.8% zinc, were mined from the former Daniel's Harbour mine and processed on site to yield a very high grade concentrate for shipping from a nearby deep water port faciliti...