SECOVA METALS REVIEWS 2016 MILESTONES OF SOLID GROWTH AND TECHNICAL INSIGHTS, HIGHLIGHTS STRATEGY AND GOALS FOR 2017
Secova Metals Corp. has provided a review of significant growth for the company encompassing multiple acquisitions in Quebec, project advancements at the Duvay/Chenier project, strategic corporate financings, and the building of a dynamic and experienced team to lead the company going forward. In 2017, Secova will begin drilling on the Duvay/Chenier project with the goal of establishing the minable resource associated with the known mineralization, along with project development on its Eagle River acquisition in the Windfall Lake area of Quebec.
P. Bradley Kitchen, CEO of Secova, commented: “I am extremely pleased with our progress in 2016, and proud of each member of the Secova Team. We have also benefitted by the strong continued support of Tres-Or Resources (TSXV: TRS), our strategic partner at the Duvay/Chenier project. During the year, we remained focused on ensuring each strategic step clearly provided a path to being able to develop Secova’s assets that would deliver a significant gold resource portfolio. In 2017, we are positioned to complete two key resource development programs at our gold projects in Quebec, respectively the Duvay/Chenier gold project and the Eagle River claims near the Windfall Lake gold deposit, where each project has the potential to yield multi-million-ounce resource deposits. I would like to thank each of our shareholders for their support during 2016 and the dedication of our amazing team in Quebec and British Columbia. We expect 2017 to be the year of significant advancement for Secova, and an elevated presence amongst our peers.”
Highlights of 2016 Activities:
Increased the size of the Duvay/Chenier claims to 7,766 contiguous hectares.
The company has the right to earn up to 90 per cent of the combined Duvay and Chenier claims from Tres-Or Resources Ltd. in the Abitibi region of Quebec. The consolidated Duvay property includes many other gold zones such as Grenadier West, East Mac, Bunker, Fontana and several others just outside of the property (such as Standard). Secova remains focused to develop its exploration program one step at a time.
Completed first phase of IPower 3D survey for a length of 750 meters and to a depth of up to 400 meters.
Historic results show attractive gold results and the majority of these results were from surface to 100 meters in depth. The new IPower 3D survey shows mineralization open to depths over 300 meters.
First 3D gold mineralization model created from historic drilling, surface exploration and the IPower 3D survey.
Modeling shows distinct areas of gold mineralization in multiple cigar shaped cylinders angled at 50 degrees from vertical and appear to be open at depth.
Six targets identified along the current strike on the Duvay claims
These targets suggested that mineralization continued to the North West and was the main driver for the company to arrange for the acquisition of the Chenier claims.
Future targets to be confirmed along strike using the IPower 3D modeling to extend the current strike length by 1.3 km to 2.05km.
Acquired the Eagle River gold project which is located in the Windfall Lake area in the Urban-Barry township of Quebec.
These claims are directly adjacent to Osisko Mining Inc.’s Windfall Lake gold deposit and Bonterra Resources Inc.’s Gladiator gold deposit.
This property is on the southern extension of the gold structure in the area and historic information shows multiple areas of potential gold mineralization.
Added key strategic members to the technical and management team.
Morgan Good, President of Secova Metals Corp. commented: “Over the past year we have been able to explore the property along the strike on the Duvay/Chenier gold Project to over 2.0 km. When the IPower 3D modeling is completed we will have a model of the gold mineralization to a depth of about 400 meters along the entire length of the strike. We have already identified six drill targets and expect to expand the number of targets with the results from the new IPower 3D survey. We are currently preparing the drill maps and will begin drilling shortly.
Our interpretation and understanding of the deposit and region, has increased immensely, leading to a focused exploration program for 2017. Secova’s technical team and contracted partners in Quebec should be congratulated for an amazing job and commitment on all levels.”
2017 Strategic Goals:
Begin diamond drill program at Duvay/Chenier targeting.
Drill mapping is currently being prepared.
Add 1.3km of IPower 3D gold mineralization modeling to have a model of the entire 2.05 km strike length.
Update current geological model on Duvay/Chenier to include new drill results.
For a more detailed review of Secova’s 2017 Exploration plan, please refer to the Company’s September 27, 2016 news release or review the geoscientific compilation (BMAG report) prepared by Dr. Ali Ben Ayad, PGeo, PhD, MBA, of BMA Geo-Conseil (BMAG).
Develop a strategic exploration plan for the recently acquired Eagle River project.
Continue acquisition strategy to potentially add other Quebec-based key projects of merit.
Secova Metals Quick Facts:
7,766-hectare representing 174 contiguous claims (Duvay/Chenier Gold Project) in the Amos Township in Quebec.
2017 Exploration Program underway – up to 5,250 meters of drilling and an additional 1.3 km of mineralization modeling using IPower 3D survey.
2,165-hectare Eagle River gold project in the Windfall Lake camp of Urban-Barry township, Quebec.
The Company will be planning its initial exploration program based on historic drilling information from the site and an intimate knowledge of the gold mineralization of the Windfall Lake gold camp.
Other Corporate News
The Company announces the resignation of Pierre-Jean Lafleur from the Board of Directors. M. Lafleur was instrumental in overseeing the compilation of the Duvay/Chenier geographic compilation and design of the current exploration program. We wish M. Lafleur all the best in his future endeavors.
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% right, title and interest in the contiguous Duvay and Chenier Gold Projects. Secova can earn up to 90% of the property (an additional 25% 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 located in the Abitibi gold belt, one of Quebec’s premier mining jurisdictions. The Company has plans to advance the development of Duvay/Chenier and Eagle River as well as seek other avenues of growth through acquisition and mergers.