Secova Completes UAV-MAG(TM) Survey at the Duvay/Chenier and Better Defines Drill Targets
Secova Completes UAV-MAG(TM) Survey at the Duvay/Chenier and Better Defines Drill Targets
Momentum Public Relations
Press Release: July 26, 2017
Vancouver, British Columbia–(Newsfile Corp. – July 26, 2017) – Secova Metals Corp. (TSXV: SEK) (FSE: N4UN) (OTC: SEKZF) (“Secova” or the “Company“) is pleased to announce the completion of a UAV-MAGTM Survey flown by Pioneer Aerial on the Duvay/Chenier project (“Duvay”), located 15 km northeast of Amos, Quebec. The Company would also like to provide its investors, stakeholders and the public with additional details on the Duvay drilling program.
Pioneer Aerial Completes High-Resolution UAV-MAGTM Survey
The Company flew seven discrete survey blocks over priority areas to obtain high-resolution magnetic data. The data collected is currently being processed but preliminary data is already being utilized for the ongoing drill program. The detailed magnetic information will be integrated with existing information to further define structures which may host mineralization. Additionally, the information will be used to more precisely locate planned drill holes testing magnetic and structural targets on the Lake Obalski area of the Duvay/Chenier project in the current drilling campaign.
The high-resolution UAV-MAGTM survey was performed from July 6th – 14th and consists of 662 tightly spaced line kilometers in seven survey blocks representing priority areas of the property requiring detailed magnetic data. The survey measures the total magnetic intensity (TMI) with GPS readings at every 0.1 second (1 m) using an unmanned aerial vehicle (UAV). The plotted total magnetic values were corrected for diurnal variations using readings taken every 6 seconds by a synchronized local base station. Line spacing was 20 m with 150 m spaced tie lines. Final results are currently being processed and are expected within 10 days, and the Company is confident that further, previously untested areas on the Duvay/Chenier claims will provide further drilling targets for subsequent drill programs.
Duvay Exploration and Drilling Program
Phase 1 of the drilling program has commenced with drill and forest use permits having been received for the proposed work. The Phase 1 program comprises 3,500 metres of drilling targeting the high-priority Duvay Zone Principal, and extending northwest along the main Duvay Shear to exploration targets near Lake Obalski.. The Company plans prospecting, mapping, sampling and other surface work on additional targets within the property simultaneous with the drilling. Prospecting, mapping, and field inspection has commenced to define the most promising new targets for drilling.
A second phase of the exploration program has been recommended to follow the initial drill program, consisting of additional drilling (including large diameter drill holes) and bulk sampling, depending on the results of the first phase.
Harrison Cookenboo, Ph.D., P.Geo., APEGBC, NAPEG, APEGS, OGQ., a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
For more information on Secova Metals Corp. please contact info@secovametals.com, Tel: +1 604-558-5397 or visit the website at www.secovametals.com for past news releases, media interviews and opinion-editorial pieces by CEO and Chairman Brad Kitchen.
On Behalf of the Board of Directors,
SECOVA METALS CORP.
“Brad Kitchen”
Chairman, CEO and Director
Tel: +1 604-558-5397
info@secovametals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains “forward-looking information” that is based on the Company’s current expectations, estimates, forecasts, and projections. This forward-looking information includes, among other things, statements with respect to the Company’s exploration and development plans. The words “will”, “anticipated”, “plans” or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information.
- Published in Mining, News Home, Secova Metals
Secova Commences Phase 1 Drilling Program at the Duvay/Chenier
Secova Commences Phase 1 Drilling Program at the Duvay/Chenier
Momentum Public Relations
Press Release: July 19, 2017
Vancouver, British Columbia–(Newsfile Corp. – July 19, 2017) – Secova Metals Corp. (TSXV: SEK) (FSE: N4UN) (OTC: SEKZF) (“Secova” or the “Company“) is pleased to announce that drill permits have all been received, and now commences the Company’s first drill program on the Duvay/Chenier Property (the “Property”), located 15 kms northeast of Amos, Quebec.
The Duvay/Chenier Project covers nearly 8,000 hectares, including more than a dozen historical gold showings. The most advanced of the showings are at Duvay, where more than 350 drill holes, a 96 m mine shaft, 275 m of underground workings, and more than 3,200 tonnes of bulk sampling has been reported since discovery in the 1930’s, as described in numerous assessment reports filed with the Quebec government. Gold occurs at Duvay in locally rich surface samples and drill intervals (e.g. 402 grams per tonne (g/t) gold over 0.36 m, 76.8 g/t gold over 0.46 m, 83.194 g/t gold over 1.0 m and 27.17 g/t gold over 1.14 m) along a regionally significant shear zone (the Duvay main shear) that extends for 2 km to the northwest to Lake Obalski, and for 4 km to the southeast to the Standard Gold Mine shaft (off the Property).
Secova’s Chairman and CEO Mr. Brad Kitchen commented, “The Company has worked hard to build the first 3D model of the Duvay gold mineralization that incorporates the extensive historic information and new exploration data. From this 3D model, we have now developed a systematic and robust exploration plan that takes into consideration all the various aspects of Duvay. Phase 1 will consist primarily of drilling identified zones of mineralization and various structural anomalies. Concurrent with this drilling, data from new ground and airborne exploration will enable Phase 2 to commence almost immediately after completion of this first drill program.“
1) Known gold bearing structures and quartz veins at the Duvay Zone Principal
A majority of the richest gold intervals intercepted historically at Duvay are hosted in quartz veins associated with the northeast trending faults extending from the main shear. These historic results include the drill intersection of 83.194 g/t gold over 1.0 m (50.0 to 51.0 m depth) comprising visible gold from a sub-horizontal quartz vein 0.5 m thick. These gold occurrences associated with northeast trending faults and their host quartz veins will be the target of drilling within the Duvay Zone Principal. Phase 1 Plan: 10 drill holes for 1250 m total.
2) New geophysical anomalies interpreted from Secova’s proprietary 3D Power IP ground survey
Secova contracted Abitibi Geophysics to conduct their innovative and effective IPower-3D ground geophysical survey, which identified a strong chargeability anomaly 300 to 400 metres north of the main Duvay shear. This anomaly is the most significant of the 6 cigar-shaped tubes which this IPower-3D program identified. The anomaly will be the target of priority drill holes in this area seeking to extend Duvay mineralization to the north. Phase 1 Plan: 5 drill holes for 1250 m total.
3) Untested, coincident magnetic and electromagnetic targets associated with the extension of the main Duvay shear zone towards Lake Obalski.
The previously untested magnetic and electromagnetic anomalies were originally identified from an airborne geophysical survey flown by helicopter in 2012 and confirmed by ground magnetics later that same year. These targets are also associated with northeast trending faults, as interpreted from the magnetics, and are covered by recent sediments. Phase 1 Plan: 6 drill holes for 1000 m total.
New high-resolution airborne magnetic survey
Secova has commenced high-resolution airborne magnetic surveys over selected priority targets outside the main Duvay mineralization area. These priority targets include planned drill targets near Lake Obalski, as well as new exploration areas where further ground work will commence this summer. Magnetic sensors for these high-resolution surveys are being flown by drone aircraft, at low altitudes and tight line spacings (20 m) to give the maximum resolution. Pioneer Aerial Surveys Ltd. of Regina, Saskatchewan, has been contracted to fly approximately 700 line kilometres of drone surveys. The surveys are expected to allow detailed interpretation of structures and magnetic anomalies to assist in identifying the most favourable location for follow-up drilling this year.
Tres-Or Resources Ltd., the underlying property owner, is operating the field program at Duvay.
The Company is also pleased to announce it has granted 14,300,000 stock options to certain directors, officers and consultants of the Company. The stock options have an exercise price of $0.05 per common share under the terms of the Company’s Stock Option Plan.
Harrison Cookenboo, Ph.D., P.Geo., APEGBC, NAPEG, APEGS, OGQ., a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
For more information on Secova Metals Corp. please contact info@secovametals.com, Tel: +1 604-558-5397 or visit the website at www.secovametals.com for past news releases, media interviews and opinion-editorial pieces by CEO and Chairman Brad Kitchen.
On Behalf of the Board of Directors,
SECOVA METALS CORP.
“Brad Kitchen”
Chairman, CEO and Director
Tel: +1 604-558-5397
info@secovametals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains “forward-looking information” that is based on the Company’s current expectations, estimates, forecasts, and projections. This forward-looking information includes, among other things, statements with respect to the Company’s exploration and development plans. The words “will”, “anticipated”, “plans” or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information.
- Published in Mining, News Home, Secova Metals
Secova Metals Conducting Phase 1 Exploration Program at the Eagle River Project in the Windfall Lake Gold District
Secova Metals Conducting Phase 1 Exploration Program at the Eagle River Project in the Windfall Lake Gold District
Momentum Public Relations
Press Release: July 6, 2017
Vancouver, British Columbia–(Newsfile Corp. – July 6, 2017) – Secova Metals Corp. (TSXV: SEK) (FSE: N4UN) (OTC: SEKZF) (“Secova” or the “Company“) announces that it has commenced its initial exploration program on its 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} owned Eagle River Project in Quebec, Canada, which is located southeast of Osisko Mining’s Windfall Lake gold deposit and is adjacent to Bonterra Resources Gladiator project. The work started with a high-resolution helicopter borne VTEM™ (“Versatile Time Domain Electromagnetic”) Plus survey being flown by Geotech Ltd., of Aurora, Ontario.
Longford Exploration Services’ (“Longford”) geophysical consultants recently interpreted, from government regional electromagnetic (“EM”) surveys, several key areas with high concentrations of anomalies on a portion of the Eagle River project. The government survey covered 8540 hectares of the whole project. The Company quickly assembled Geotech’s crew to start and have already completed the VTEM™ Plus survey which consisted of a 940 line kilometre survey at 100m line spacing over a key area of the project.
Geotech’s field QA/QC procedures ensure that only the highest quality data is accepted. The project is currently in the Data Processing phase. The final processed survey data once received, will be interpreted along with existing geophysical data and priority targets will then be ground tested with applicable high-resolution ground geophysics, geological mapping and sampling to identify potential trenching and drill targets.
Secova Metal’s Eagle River Project — area shown where VTEM™ Plus has just completed the airborne survey
To view an enhanced version of this map, please visit:
https://orders.newsfilecorp.com/files/4999/27807_a1499286896385_15.jpg
“We are very pleased to have commenced the Company’s exploration on its wholly-owned Eagle River project. The airborne VTEM™ Plus geophysical program will provide us with exciting information critical to defining quality drill targets. Geophysical, electromagnetic, magnetic and induced polarization techniques have proven to be important tools for exploring the Urban Barry area, specifically with the Windfall Lake gold project. This is Secova’s first step in evaluating the Eagle River project and a critical step in defining potential drill targets to test the anomalies.” stated Chairman & CEO Brad Kitchen.
About Geotech’s Proprietary VTEM™ Plus System
- VTEM™ system has the proven power, sensitivity and vertical resolution for mineralized targets ranging in size, massive sulphides to discrete disseminated sulphides, as well as has a depth of investigation of ~550m in this area.
- Low Base Frequency (30Hz) for penetration through conductive cover.
- This system is advertised to be able to delineate potential drill hole targets from the airborne results.
- The system is very well suited for the type of Au-bearing, sulphide mineralized stringer-stockwork and structurally controlled gold mineralization within this gold district.
For more information on Secova Metals Corp. please contact info@secovametals.com, Tel: +1 604-558-5397 or visit the website at www.secovametals.com for past news releases, media interviews and opinion-editorial pieces by CEO and Chairman Brad Kitchen.
On Behalf of the Board of Directors,
SECOVA METALS CORP.
“Brad Kitchen”
Chairman, CEO and Director
Tel: +1 604-558-5397
info@secovametals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains “forward-looking information” that is based on the Company’s current expectations, estimates, forecasts, and projections. This forward-looking information includes, among other things, statements with respect to the Company’s exploration and development plans. The words “will”, “anticipated”, “plans” or other similar words and phrases are intended to identify forward-looking information.Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information.
- Published in Mining, News Home, Secova Metals
Secova Metals Acquires Osisterra Project and Further Increases Its Land Position in Windfall Lake Gold District
Secova Metals Acquires Osisterra Project and Further Increases Its Land Position in Windfall Lake Gold District
Momentum Public Relations
Press Release: June 6, 2017
Vancouver, British Columbia–(Newsfile Corp. – June 6, 2017) – Secova Metals Corp. (TSXV: SEK) (FSE: N4UN) (OTC: SEKZF) (“Secova” or the “Company“) is pleased to announce that the Company has acquired 1106541 B.C. Ltd., a private B.C. Company which sole asset is the Osisterra Project (“Osisterra”) that consists of 30 claims or 1,694 contiguous hectares, adjacent to it’s Eagle River project which is on-trend to the Windfall Lake, Urban Barry and the Gladiator gold projects.
This brings the Company’s total contiguous land position at Eagle River to 21,472 hectares making Secova one of the largest land holders in the district behind Osisko Mining. The Osisterra Project has had exploration on the property dating back to 1977 including mapping, airborne geophysical surveys and some drilling.
Secova’s Chairman and CEO, Brad Kitchen commented, “Secova has taken advantage of this opportunity to acquire the Osisterra claims that are directly adjacent to both the south of Osisko Mining’s Windfall Lake Camp, and to the west of Bonterra’s Gladiator project, hence its name, ‘Osisterra’. This parcel of land represents a critical piece of the puzzle for Secova and its extensive exploration plans for the Windfall Lake gold district. Management feels that this will be the Company’s last acquisition in this region before exploration commences on the Eagle River properties shortly. The Company has more than sufficient capital to accommodate its budget for the Duvay/Chenier drilling program as well as its initial Phase 1 exploration program at Eagle River.”
The acquisition is an arms-length transaction in which the Company will issue 10 million common shares by way of a share exchange agreement. The acquisition transaction contemplated herein are subject to final TSX Venture Exchange approval.
About Secova Metals Corp.
Secova Metals Corp. is a Canadian gold exploration company focused on building a strong asset base through exploration of undervalued gold projects in Canada. Management has demonstrated expertise in advancing gold exploration projects into acquisition targets, most notably in the province of Quebec. Secova has the exclusive right and option to acquire from Tres-Or Resources Inc. (“Tres-Or”), an undivided 65{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} right, title and interest in the contiguous Duvay/Chenier Gold Projects. Secova can earn up to 90{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the property (an additional 25{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} ownership) by funding a pre-feasibility study after the initial exploration expenditures to bring the property towards production. The Company has a total contiguous land package of 174 claims covering over 7,766 hectares (17,458 acres) of land. Duvay/Chenier is located in the Abitibi gold belt, one of Quebec’s premier mining jurisdictions. The Company has plans to advance the development of Duvay/Chenier as well as seek other avenues of growth through acquisition and mergers. The Company also has 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} ownership of the Eagle River project which is adjacent to and on-trend to several gold projects in the Windfall Lake district of Urban Barry in Quebec.
For more information on Secova Metals Corp. please contact info@secovametals.com, Tel: +1 604-558-5397 or visit the website at www.secovametals.com for past news releases, media interviews and opinion-editorial pieces by CEO and Chairman Brad Kitchen.
On Behalf of the Board of Directors,
SECOVA METALS CORP.
“Brad Kitchen”
Chairman, CEO and Director
Tel: +1 604-506-7555
brad.kitchen@secovametals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains “forward-looking information” that is based on the Company’s current expectations, estimates, forecasts, and projections. This forward-looking information includes, among other things, statements with respect to the Company’s exploration and development plans. The words “will”, “anticipated”, “plans” or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information.
- Published in Mining, News Home, Secova Metals
Secova Metals 50-million-share private placement
Secova Metals 50-million-share private placement
– Momentum Public Relations –
Press Release: March 30, 2017
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on Feb. 22, 2017.
Number of shares: 50 million shares
Purchase price: five cents per share
Warrants: 50 million share purchase warrants to purchase 50 million shares
Warrant exercise price: eight cents for a two-year period
Number of placees: 142 placees
Insiders: P. Bradley Kitchen, 1.69 million shares; Morgan Good, 1.25 million shares
Finders’ fees: David Vincent receives 2,090,400 shares and 2,090,400 non-transferable warrants. Jonathan Williams receives $2,000 and 40,000 non-transferable warrants. Mark Turcotte receives $12,800 and 256,000 non-transferable warrants. Jean-David Moore receives $15,720 and 314,400 non-transferable warrants. Haywood Securities Inc. receives $6,000 and 120,000 non-transferable warrants. Canaccord Genuity Corp. receives $400 and 8,000 non-transferable warrants. Mackie Research Capital Corp. receives $400 and 8,000 non-transferable warrants. The warrants are exercisable for one share at a price of five cents for one year.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Mining, News Home, Secova Metals
Secova (SEK:tsxv) More than Triples the Size of Its Eagle River Gold Project, Quebec
Secova More than Triples the Size of Its Eagle River Gold Project, Quebec
– Momentum Public Relations –
Press Release: March 23, 2017
Secova Metals Corp. (TSXV: SEK) (FSE: N4UN) (OTC: SEKZF) (“Secova” or the “Company“) (“Secova” or the “Company“) is very pleased to announce that is has increased its land position within the Windfall Lake district by acquiring 1107136 B.C. Ltd., a private B.C. Company which sole asset is 299 claims, or 16,500.55 hectares, for a purchase price of forty-thousand dollars and nine million shares of the Company.
The majority of the acquisition, 261 claims or 14,369.25 hectares, are adjacent to Secova’s Eagle River project which is on a south-east trend to the Windfall Lake, Urban Barry and the Gladiator gold projects. This acquisition has increased the Eagle River Project by approximately 370{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} from its original size (as per the Company’s November 29th, 2017 news release on the acquisition of the Eagle River project than totaling 4,354 hectares) and brings the Company’s total contiguous land package to 19,778.7 hectares (356 claims). Please refer to the map below (also available online at www.secovametals.com/projects/eagleriver) which details the expansion and location of Secova’s Eagle River properties in relation to the current developments in the region.
Secova Metals Eagle River Expansion in the Windfall Gold Camp, Quebec
To view an enhanced version of this image, please visit:
http://orders.newsfilecorp.com/files/4999/25811_a1490224791998_49.jpg
With this acquisition, the Company also acquired three other claim blocks totaling 38 claims (or 2,141.3 hectares) that are strategically located in the western region of the gold camp and are adjacent to Osisko Mining’s Windfall Lake project and Metanor’s Urban-Barry project.
“This acquisition provides Secova’s shareholders with an opportunity to participate in the development of the Windfall Lake gold project and surrounding properties,” stated Brad Kitchen, CEO & Chairman of Secova. “Management and Consultants are reviewing historic data and are in conversation with airborne and ground geophysics companies to develop an exploration plan that will rely on both new technology and management’s intimate understanding of the development of the area.”
The acquisition is subject to TSX Venture Exchange approval.
About Secova Metals Corp.
Secova Metals Corp. is a Canadian gold exploration company focused on building a strong asset base through exploration of undervalued gold projects in Canada. Management has demonstrated expertise in advancing gold exploration projects into acquisition targets, most notably in the province of Quebec. Secova has the exclusive right and option to acquire from Tres-OR Resources Inc. (“Tres-Or”), an undivided 65{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} right, title and interest in the contiguous Duvay and Chenier Gold Projects. Secova can earn up to 90{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the property (an additional 25{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} ownership) by funding a pre-feasibility study after the initial exploration expenditures to bring the property towards production. The Company has a total contiguous land package of 174 claims covering over 7,766 hectares (17,458 acres) of land. The Duvay/Chenier project is in the Abitibi gold belt, one of Quebec’s premier mining jurisdictions. The Company has plans to advance the development of Duvay/Chenier, Eagle River and Cobalt Bay projects as well as seek other avenues of growth through acquisition and mergers.
For more information on Secova Metals Corp. please contact Morgan Good, Secova’s President, at morgan.good@secovametals.com and Tel: +1 604-715-4751 or visit the website at www.secovametals.com for past news releases, media interviews and opinion-editorial pieces by CEO and Chairman Brad Kitchen.
- Published in Mining, News Home, Secova Metals
Secova (SEK:tsxv) Closes First Tranche of Financing
Secova Metals (SEK:tsxv) Closes $150,900 First Tranche of Financing
– Momentum Public Relations –
Press Release: October 21, 2016
Secova Metals Corp. (SEK:TSXV) has closed the first tranche of a non-brokered private placement pursuant to which the company has issued 2.38 million flow-through shares at a purchase price of 5.5 cents per flow-through share and 400,000 units at a purchase price of five cents per unit for total gross proceeds of $150,900. The non-flow-through units also have a one-half warrant that when combined into a whole warrant allow the holder to purchase one common share of the company at 10 cents for a period of one year.
In connection with the financing, the company will pay $10,472 in cash commission and issue 190,400 finder warrants for the FT shares and $1,600 in cash commission and 32,000 finder warrants for the NFT units. The FT finder warrants and NFT finder warrants will be exercisable into common shares for a period of one year at an exercise price of 5.5 cents and five cents, respectively, per common share.
The issuance of the FT shares, NFT shares and finder warrants is subject to TSX Venture Exchange approval, and, once issued, the securities are subject to a four-month-and-one-day hold period. Proceeds from the financing will be used for exploration and development of the company’s Duvay advanced gold project in Quebec, and for general corporate purposes.
Other corporate news
Secova also announces the resignation of Joseph Carusone from its board of directors, effective Sept. 27, 2016. The company wishes to thank Mr. Carusone for his efforts regarding Secova.
Secova has entered into an agreement to acquire up to 90 per cent of the original 105 claims at the advanced-stage Duvay gold project in Amos, Que. The company has also acquired a 100-per-cent interest in 69 additional adjacent claims, for a total contiguous land package of 174 claims covering over 7,065 hectares (17,458 acres) of land.
We seek Safe Harbor.
- Published in Mining, News Home, Secova Metals
SECOVA (SEK:TSXV) CREATES NEW MODEL FOR THE DUVAY MINERALIZATION GOLD ZONES
SECOVA CREATES NEW MODEL FOR THE DUVAY MINERALIZATION GOLD ZONES
– Momentum Public Relations –
Press Release: September 16,2016
Secova Metals Corp. (SEK:tsxv) has received the completed geoscientific compilation on its Duvay gold property in the Abitibi region of Quebec. This report was prepared by Dr. Ali Ben Ayad, PGeo, PhD, MBA, of BMA Geo-Conseil (BMAG) under the supervision of Pierre-Jean Lafleur, the company’s project manager and director. The BMAG report provides a detailed analysis of the mineralization geology and structure of the gold zones on the Duvay set of claims, suggesting a new model to find new potential gold zones.
The report compiles all historic information since the Duvay gold discovery in 1944. It includes 331 drill holes entered in a computer database and verified by InnovExplo in Val d’Or using Gems 3-D software from Geovia. BMAG has compiled geological maps and all valid historical information with the drill holes, a local conventional IP (induced polarization) survey (2003) and the recently completed 3-D IPower survey performed by Abitibi Geophysics Inc. The result is a clearly defined geological model outlining a cigar-like morphology or shape hosting the highest quartz vein density which in turn is likely to host the gold-grade values. The gold is associated with sulphides (pyrite, chalcopyrite and, rarely, sphalerite) in perpendicular centimetric to decimetric quartz veins and veinlets, resulting from the intersections of two orthogonal structures (shears and faults). These intersections are outlined as cigar-like shapes about 50 metres to 100 metres in diameter to a possible depth of 300 metres or more. They plunge at a high angle (pitch of 50 degrees) in the slip direction (north 120 degrees and north 80 degrees). For more details, please read the full report on Secova web page.
Gold appears as native gold, in an erratic distribution but often spectacular in the quartz- carbonate veins. Locally, gold appears in 1 centimeter heap widths and is occasionally associated with chalcopyrite, sphalerite, and galena (Sphinx, 1988).
Historic drill holes were oriented across the direction of the shear zones to intersect mineralization from surface down to 150 meters at depth. They intersected mineralized zones with variable thickness and gold values. To recognize the economic potential of the cigar-shape ore shoot requires drilling following the ore shoot direction and pitch in the shear zone.
The most relevant information regarding the mineralization of these cigar-shape zones is highlighted by the underground mining exploration workings of 1946, in which Weber reports at a March 1951 PDAC Convention that good-grade ore was found over a length of 25 feet (approx. 7.5 meters) in a series of gently dipping quartz veins, vertical veins and stringers in the crosscut of the 725 foot level (approx. 220 meters). The main east-west fault is the point of origin of the quartz-filled vertical tension fractures which have proven to be the best gold- bearing veins at 350 foot level (approx. 105 meters).
The geophysical IP survey was limited to only the Duvay claims and at least six potential cigar- shape zones have been outlined. They are associated to the Main and the North shear zones that make up the Duvay shear corridor over a strike length of 700 meters. With the addition of the Chenier claims, the total shear zone strike length available for Secova’s exploration program has now increased to 3.3 kilometers expanding the potential discovery of new gold zones.
In addition to the localization at surface of the 6 potential zones, the 3D IPower Survey shows the existence of a new geophysical anomaly (chargeability and lower resistivity) at depth in the West limit of the survey in the Shear Zones Corridor. This geophysical anomaly remains very interesting by its structural position in the shear corridor, and appears interconnected with some of the cigar-shape zones, north and west of the shaft zone. This relatively deep (down dip level of approximately 200 meters) 3D IPower anomaly is likely due to the presence of quartz veining and disseminated sulphides. This interpretation is supported by a long drill hole (DUV-87-31: 732 meters) realized in 1978 at its east limit.
For more details, please read the full report on Secova web page at www.secovametals.com.
The new interpretation of the geology of the Duvay gold property will allow Secova to perform a very specific exploration program that will expand the area of the cigar-shaped mineralization envelopes along the Northwesterly 3.3 kilometers strike at surface and at depth which will extend the new geophysical 3D IPower anomaly located also in the shear corridor, north west of the shaft zone.
“The BMAG Report provides the Company with a new model and guide for drilling on these 6 cigar-shaped zones of mineralization that could continue at depth to at least 300 meters,” stated Morgan Good, President of Secova. “But the best part is that the BMAG Report shows that this model of gold mineralized zones could continue and may be found over the entire strike length of 3.3 km, potentially increasing this discovery by many multiples. We are looking forward to beginning our drilling in October to confirm the model and determine the grade of the gold mineralization. In parallel, an 3D IPower survey will be executed in the NW area of the shaft zone to extend the shears corridor deep anomaly until the mineralized Zone de la fosse.”
About Secova Metals Corp.
Secova Metals Corp. is a Canadian gold exploration company focused on building a strong asset base through exploration of undervalued gold projects in Canada. Secova has entered into an agreement to acquire up to 90{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the advanced stage Duvay and Chenier gold project in Amos, Quebec, located in the Abitibi gold belt, one of Quebec’s premier mining jurisdictions. The Company has plans to advance the development of Duvay as well as seek other avenues of growth through acquisition and mergers. Secova Metals trades on the TSX Venture, under the symbol SEK. Learn more about Secova at www.secovametals.com.
The technical information contained in this press release was verified by Pierre-Jean Lafleur in his capacity as a Qualified Person (Q.P.) under NI 43101 regulations and Project Manager.
- Published in Mining, News Home, Secova Metals
Secova (SEK:tsxv) Amends Duvay Option with Tres-Or; to raise $1.1M
SECOVA AMENDS OPTION AGREEMENT ON DUVAY TO INCLUDE CHENIER GOLD PROJECT IN QUEBEC
– Momentum Public Relations –
Press Release: September 13th, 2016
Secova Metals Corp. (SEK:tsxv)has executed an amended and restated option agreement to earn up to a 90-per-cent interest in the consolidated Duvay and Chenier gold project, comprising 174 contiguous claims (7,766.79 hectares) in the Abitibi region, 16 kilometres northeast of Amos, Que.
Under the amended agreement, Secova now has the exclusive right and option to acquire from Tres-Or Resources Ltd. an undivided 65-per-cent right, title and interest in the contiguous Duvay and Chenier gold projects. Secova can still earn the full 90 per cent of the property (an additional 25-per-cent ownership) by financing a prefeasibility study after the initial exploration expenditures to bring the property toward production. Further, Secova can now meet its exploration expenditures over the entire property as opposed to just the Duvay claims. This is a major improvement for Secova as its proposed exploration program for fall of 2016 will include extensive work along the continued strike which goes onto the Chenier claims. In addition, Tres-Or has agreed to allow the company to extend the date of this next phase of exploration expenditures of $750,000 to March 31, 2017. Secova will continue to be the operator. All other terms and conditions remain the same but are now applicable to this larger contiguous land package.
Visible gold was discovered at Duvay in the late 1930s. Gold mineralization is associated with the northwest trending Duvay shear zone, a 3.3 km structure striking across the Duvay Gold Project east- west and intersecting northeast faults. The intersection of these structures are hosting enhanced gold mineralization. Historical gold results from the Duvay occurrence returned samples up to 402 g/t over 0.36m, 76.8 g/t over 0.46m and 34.6 g/t over 0.46m. Drilling and test pitting by Tres-Or supports this potential, including 83.194 g/t over 1.0m and 5.217 g/t Au over ten tonnes of bulk samples processed in a small plant at the Duvay site. The richest (DVP-002) yielded a grade of 0.77 g/t Au and a concentrate averaging 369.43 g/t Au by gravity only (Duvay Property Technical 43-101 Report, October 31, 2012) and (The Duvay Gold Property Geoscientific Compilation Report, August 8, 2016).
Financing
To fund the upcoming exploration program, Secova announces a non-brokered private placement (the “Financing”) pursuant to which the Company will issue up to 18,181,818 flow-through shares at a purchase price of $0.055 per flow-through share (the “FT Shares”) for gross proceeds of $1,000,000 and up to 2,000,000 common shares at a purchase price of $0.05 per common share (the “NFT Unit”) for total gross proceeds of $1,100,000. Each NFT Unit consists of one common share in the capital of the Company and one-half of one common share purchase warrant (the “Warrant”). Each whole Warrant is exercisable by the holder to acquire one common share for a period of one year from issuance at an exercise price of $0.10 per common share.
In connection with the Financing, the Company may pay an 8{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} cash finder’s fee and issue 8{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} finder’s warrants (the “Finder’s Warrants”). The FT Share Finder’s Warrants will be exercisable into common shares for a period of one year at an exercise price of $0.055 per common share and the NFT Units Finder’s Warrants will be exercisable into common shares for a period of one year at an exercise price of $0.05 per common share.
Options
In other corporate news, the Company has issued 3.34 million stock options that are exercisable into common shares at a price of $0.05 for a period of one year. These options have been issued to consultants and directors of the company and were issued as other options have expired or have been exercised.
The issuance of the FT Shares, Finder’s Warrants and options will be subject to TSX Venture Exchange approval and once issued, subject to a fourth month and one day hold period.
Proceeds from the Financing will be used for exploration and development of the company’s Duvay and Chenier advanced gold projects in Quebec and for general corporate purposes.
About Secova Metals Corp.
Secova Metals Corp. is a Canadian gold exploration company focused on building a strong asset base through exploration of undervalued gold projects in Canada. Secova has entered into an agreement to acquire up to 90{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the advanced stage Duvay and Chenier gold project in Amos, Quebec, located in the Abitibi gold belt, one of Quebec’s premier mining jurisdictions. The Company has plans to advance the development of Duvay as well as seek other avenues of growth through acquisition and mergers. Secova Metals trades on the TSX Venture, under the symbol SEK. Learn more about Secova at www.secovametals.com.
The technical information contained in this press release was verified by Pierre-Jean Lafleur in his capacity as a Qualified Person (Q.P.) under NI 43101 regulations and Project Manager.
- Published in Mining, News Home, Secova Metals
Secova Metals gets ready to take the Gold
Secova Metals (SEK:tsxv) Prepares to Dominate the Junior Gold Market
– Momentum Public Relations – Dana Hinders
A Canadian gold exploration company based in Vancouver, BC, Secova Metals (SEK:tsxv) is poised to take the driver’s seat as the market for mineral resources improves in 2016 and beyond. Recently, Secova made plans to acquire up to 90{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the Duvay advanced gold project in Amos, Quebec. Known as the Duvay gold project, this near surface high grade gold exploration project consists of 105 claims covering over 4,500 hectares. Previous exploration of the site has been done by both Tres-Or and Aurizon Mines Ltd. Secova plans to use this data to develop an advanced stage exploration program that will add value for shareholders.
Historically, work at Duvay has been focused close to the surface. This includes 339 drill holes with an approximate depth of 100 meters (328 feet) scattered across an area that is just 250 square meters (2,690 square feet). Visible gold showings and historic drill samples of up to 402 g/t gold occur on the property. In a strategic move, Secova recently acquired 69 adjacent claims expanding their property size and giving them one large contiguous package of 7,065 hectares.
The Duvay gold project will be managed by Pierre-Jean Lafleur. Lafleur was appointed to Secova’s Board of Directors in February and is considered to be one of the best geological engineers in the business with experience in areas such as exploration and mining, including ore reserves, mine planning, and more. Lafleur’s first task as manager of the Duvay project was to commence the winter exploration program, which includes over 3,250 meters (10,660 feet) of drilling as well as a 3D IP survey and the addition of historic data into a 3D model.
InnovExplo, located in Val d’Or Quebec, will produce a computer database of historical drill logs for 3D geological modeling. An international service provider in geology, mine engineering, and sustainable development, InnovExplo is experienced in using MapInfo, Leapfrog, GoCAD, and Gems and Whittle from 3DS GEOVIA. InnovExplo’s work will be combined with an IPower 3D IP survey from Abitibi Geophysics in Val d’Or to identify drilling targets and project field work for Duvay.
As Secova prepares to move forward, one of the company’s biggest strengths is its strong leadership team. CEO Brad Kitchen was previously the Chief Executive Officer and President of Eagle Hill Exploration Corporation before it was taken over by Oban Mining. With 25 years of experience in investment banking and leading corporations, Kitchen is known for his leadership, corporate governance, and team building expertise. Kitchen was instrumental in leading the development of Eagle Hill and has stated he sees Secova’s properties having the same potential for success.
Secova trades on the TSX Venture with the symbol SEK. The top three company owners include management and insiders (58.4{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} stake in the company), a Canadian mining fund (19.9{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} stake in the company), and Frontier Merchant Capital Group (7.8{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} stake in the company). Over 2,000 shareholders split the remaining 13.9{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} float.
Gold posted negative returns for the past three years, but 2016 has been a strong year for gold investors. Much of this can be attributed to people seeking protection from global insecurity, as well as the overall decrease in the value of paper currency.
Gold mining is a vital part of Quebec’s economy for multiple reasons. The area has well-established geological potential, a strong history of mining, and a politically stable climate. Quebec also brings the expertise of its residents to the table, with an abundance of miners and mining experts calling the region their home. Utilizing the latest technologies, they hold the key to uncovering the estimated 60{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of Quebec’s mineral potential that has yet to be discovered.
For more information view the corporate presentation below or visit: www.secovametals.com
- Published in Blog, Mining, Secova Metals
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