VANCOUVER, BRITISH COLUMBIA – October 5, 2017 – Secova Metals Corp. (“Secova” or the “Company“) (TSXV: SEK, Frankfurt: N4UN, USA: SEKZF) is pleased to report that results from the recently completed airborne VTEM™ (“Versatile Time Domain Electromagnetic”) Plus survey (the “Survey”) on the 100% owned Eagle River Gold Project (“Eagle River”) in Quebec, Canada, indicate a number of previously poorly defined or otherwise unknown airborne targets from earlier surveys.
The VTEMTM airborne survey covered a large area of 8,540 hectares representing just 40% of Secova’s claim group totalling 21,472 hectares in the Windfall Lake district. The detailed survey indicated 19 distinct anomalies that the Company has determined need further exploration. As a result, Secova has mobilized a field crew to Eagle River to undertake initial ground exploration. The map below shows both the location of the Survey and the 19 anomalies that will be explored in detail. The Eagle River project is located less than 10 kilometres southeast of Osisko Mining’s Windfall Lake gold deposit and is adjacent to Bonterra Resources’ Gladiator project.
Geotech Ltd., of Aurora, Ontario provided the final results of the helicopter borne VTEM™ (“Versatile Time Domain Electromagnetic”) Plus survey. Campbell & Walker Geophysics Ltd. have performed a preliminary analysis on the data collected by Geotech.
About the Survey:
The recently completed VTEM Plus survey was designed to provide modern high-resolution data over electromagnetic targets selected from publicly available low-resolution airborne surveys that covered a portion of the property. The review of the VTEM survey results indicates the presence of at least 19 distinct zones of anomalous conductivity. The anomalies vary in strike length from 150 m to over 1 km.
The results from the VTEM survey are encouraging, resulting in Secova initiating its winter exploration program. Exploration on the target areas will include prospecting, mapping, till sampling and ground geophysics. Longford Exploration’s James Rogers with Terrence Coyle, who is intimately familiar with the Windfall Lake district, are leading the initial exploration program at the Eagle River.
Secova’s Chairman & CEO, Brad Kitchen commented, “We are very pleased to have confirmed numerous anomalies on our wholly-owned Eagle River project. The airborne VTEM™ geophysical survey has provided us with information critical to identifying and confirming anomalies. Exploration of these anomalies may lead to quality drill targets in the near future. With all the activity coming from the Windfall Camp such as Osisko Mining continually intersecting positive drill results, increasing their drill program to 800,000 metres from 400,000 meters and publishing that they’ve increased their recently announced bought deal financing from $50,000,000 to $80,000,000, we have decided to act as quickly as we can to delineate these anomalies.”
Terrence Coyle, P. Geo., a consultant to the Company as well as a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
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/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. 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% 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 email@example.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.
Chairman, CEO and Director
Tel: +1 604-558-5397
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.