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Toronto, Ontario, September 20, 2017 – GreenBank Capital Inc (CSE: GBC and OTCMKTS: GRNBF) (“GreenBank or the Company”) announces that its 28% owned affiliate Ubique Minerals Limited (“Ubique”) has received the results of its recent drilling program on its Daniel’s Harbour zinc property in Newfoundland.
The highlight of the 9-hole program was Hole UM-4 which intersected 13.6% Zinc over 39.9ft including 17.43% Zinc over 28.2 ft.
Other drilling highlights include:
Hole UM-6 intersected 5.06% Zinc over 37.8ft including 13.80% Zinc over 9.9ft
Hole UM-5 intersected 14.06% Zinc over 2.3ft including 23.4% Zinc over 1.3 ft
Hole UM-7 intersected 12.79% Zinc over 5.4ft
Hole UM-8 intersected 10.8% Zinc over 2.1ft
Hole UM-9 intersected 5.37% Zinc over 13.7ft
“The intercept in hole UM-4 is one of the highest grades seen on our property to date, and we are excited about the prospects for Daniel’s Harbour.” said Paul Cullingham, director of GreenBank and CEO of Ubique.
The results of the drilling program, together with historical estimates, are anticipated to form the basis of a NI 43-101 mineral resource report on the Daniel’s Harbour property which will be completed later this year.
Ubique owns 49 claims around the former Daniel’s Harbour zinc mine situated approximately 10 km northeast of the town of Daniel’s Harbour on the west coast of Newfoundland. The claims adjacent to Ubique’s claims are primarily owned by Altius Resources Inc, a subsidiary of Altius Minerals Corporation. Approximately 7,000,000 tonnes averaging 7.8% zinc have been mined from the Daniel’s Harbour mine (Wardle, R.J. (2000) Mineral Commodities of Newfoundland and Labrador – Zinc and Lead; Government of Newfoundland and Labrador, Geological Survey, Mineral Commodities Series Number 1, 12).
A full summary of the drilling results is provided in the Composite Drilling Results Table below:
Daniel’s Harbour Composite Drilling Results Table*
|
Hole No. |
From Feet |
To Feet |
Width Feet |
Percent Zinc |
|
UM-4 Including |
159.1 170.5 |
199.0 199.0 |
39.9 28.2 |
13.60 17.43 |
|
UM-5 Including |
210.7 210.7 |
213.0 212.0 |
2.3 1.3 |
14.06 23.40 |
|
UM-6 Including |
184.0 184.0 |
221.8 193.9 |
37.8 9.9 |
5.06 13.80 |
|
UM-7 |
217.9 |
223.3 |
5.4 |
12.79 |
|
UM-8 |
216.6 |
218.7 |
2.1 |
10.80 |
|
UM-9 |
181.7 |
195.4 |
13.7 |
5.37 |
*Excluding Holes UM-1, UM-2, and UM-3 which had no measurable results.
Diamond drilling was performed by New Valley Drilling, and samples were analyzed by Eastern Analytical, both of Springdale in Newfoundland. Mineralized core samples were sawn in half for metallurgical testing with half being retained as a permanent core record. The true width of the drill hole intersections is equal to the intersection of the hole as set out in the “Width Feet” disclosure in the Composite Drilling Results Table.
Roland Crossley P.Geo., is the qualified person as defined by NI 43-101 responsible for the technical data presented herein and has reviewed and approved this release.
Ubique expresses its appreciation of the financial support offered by the Junior Exploration Assistance Mineral Incentive Program (“JEA”) offered by the Department of Natural Resources, Government of Newfoundland and Labrador, for this Daniel’s Harbour drilling program. The JEA objective is to grow the mineral inventory of the province through mineral discoveries.
About GreenBank
GreenBank is a merchant banking business listed on the Canadian Securities Exchange (trading symbols CSE:GBC and OTCMKTS:GRNBF), and is included in the CSE Composite Index. GreenBank’s 100% subsidiary GreenBank Financial Inc. is a merchant bank. GreenBank’s investment portfolio includes 10% of The Lonsdale Group LLC, a USA based private equity company focused on small cap investments; 28% of Ubique Minerals Limited, a minerals exploration company with interests in Newfoundland, Canada; 10% of Reliable Stock Transfer Inc, a Canadian small cap transfer agency; 14% of Slabdeck Technology Inc, developers of a unique comprehensive all-in-one search mobile application that integrates social search, discovery and communication; 15% of Veterans Financial Group LLC, a Ohio, USA based insurance agency providing insurance services to veterans, families and businesses; 15% of Blockchain Evolution Inc, owners of the world’s first identification based blockchain, and 15% of KYC Technology Inc, owners of a worldwide online 24-hour “Know Your Customer” identification verification process. GreenBank has agreed to acquire 19% of Inside Bay Street Corporation, a financial news communications company.
For more information please see https://www.GreenBankCapitalinc.com or contact Daniel Wettreich at (647) 931 9768 or by email dw@GreenBankCapitalinc.com
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 GreenBank Capital Inc., the raising of additional capital and the future development of the businesses comprising GreenBank’s investment portfolio. 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 GreenBank 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 GreenBank 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.