VANCOUVER, BC–(Marketwired – Jul 19, 2017) – Secova Metals Corp. (“Secova” or the “Company“) (TSX VENTURE: SEK) (FRANKFURT: N4UN) (OTC: SEKZF) 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.
Brad Kitchen
Chairman, CEO and Director
Tel: +1 604-558-5397
Email Contact