Business
Ubique Purchases Ophir Golds Claims in Daniel's Harbour Zinc Project
TORONTO, ON / ACCESSWIRE / September 6, 2023 / Ubique Minerals Limited ("Ubique" or the "Company...
About this update from Ubique Minerals Ltd.
[{"type":"text","content":"Ubique Purchases Ophir Golds Claims in Daniel’s Harbour Zinc ProjectTORONTO, ON / ACCESSWIRE / September 6, 2023 / Ubique Minerals Limited (\"Ubique\" or the \"Company\") (CSE:UBQ)(FRA:2UM) is pleased to announce that it has entered into a Mineral Claim Purchase Agreement (\"Agreement\") with Ophir Gold Corp. (\"Ophir Gold\").Under the terms of the Agreement, Ophir Gold has agreed to sell and transfer a 100% interest in certain mineral mining claims located in Daniel's Harbour, Newfoundland Canada (the \"Claims\") to the Company. The Claims are all a part of the option agreement announced between the companies on February 14, 2019 wherein previously the Company had the option to earn up to a 70% interest in the Claims.\"We are excited about this strategic agreement with Ophir Gold Corp.,\" said Vilhjalmur Thor Vilhjalmsson, CEO of Ubique Minerals Ltd. \"This acquisition aligns with our strategy and reinforces our commitment to unlocking the value of the Daniel's Harbour property and now having 100% control we can better manage the exploration project work program that is planned.\"The transaction will be executed on an \"as is, where is\" basis, acknowledging the existing state, condition, and location of the Claims as of the Closing Date. In return for a 100% interest in the Claims, the Company will issue 3,800,000 ordinary shares of the Company (the \"Consideration Shares\") to Ophir Gold. The Closing Date for the transaction is anticipated to occur at 10:00 a.m. Vancouver time on the second business day after the Effective Date, subject to the fulfillment of the Agreement's terms and conditions.The execution of the Agreement reflects the Company's ongoing commitment to advancing mineral exploration and development projects that have the potential to generate value for shareholders and contribute to sustainable resource utilization.About Daniel's Harbour projectThe Daniel's Harbour properties of Ubique cover both the area of the past producing high grade zinc mine and extensions of favorable area, mostly to the north-northeast along strike for more than ten kilometers. Exploration drilling to date has confirmed three zinc deposits and has indications of two more which require additional definition drilling to define their extents. Several more zones identified by one or more historic drill holes require relocating and f...