Ubique Minerals Announces Proposed Financing of $250,000 for Newfoundland Gold, Silver and Base Metal Properties – Video Summary on www.investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - March 20, 2013) - Ubique Minerals, a Canadian junior resource company based in Toronto, Ontario, has announced a proposed financing of up to $250,000, to be comprised of $0.05 units. Each unit consists of one common share and one warrant to purchase an additional common share at an exercise price of $0.07 in the first year and $0.10 in the second year.
These shares are only available to accredited investors or other purchases eligible pursuant to prospectus and registration exemptions under applicable securities laws.
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The company is exploring and developing its Unknown Brook gold and silver property and its Buchans Wileys base metal property, both strategically situated in Newfoundland, Canada.
The Unknown Brook property covers an area of approximately 20 square kilometres. Historic drilling reported a number of high grade drill core intercepts, including 20.5 grams per tonne gold over .50 metres at a depth of 25 metres. For more details, please refer to the NI 43-101 Technical Report on the company's website.
In late 2012, exploration at the Simms Ridge prospect, located approximately 4 kilometres northeast of the Unknown Brook prospect led to the discovery of the Quinlan Anomaly, a 50 metre by 100 metre open-ended gold in soil anomaly in a previously unexplored area of the Unknown Brook property. Two quartz vein samples returned gold values of 26.6 and 17.8 grams per tonne gold.
The Buchans Wiley property, covering an area of 11 square kilometres, is located 3 to 4 kilometres southwest of the past producing Buchans Mine. There are a number of other significant deposits in the area, including Teck Resources' producing Duck Pond Mine.
The Buchans Mine produced more than 16 million tonnes of ore at an average mill head grade of 14.51% zinc, 7.65% lead, 1.33% copper, 126 grams per tonne silver, and 1.37 grams per tonne gold, placing it among the highest grade ores in North America.
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Barry Morgan, CFO