VANCOUVER, BRITISH COLUMBIA – March 1, 2018 – Secova Metals Corp. (“Secova” or the “Company“) (TSXV: SEK, Frankfurt: N4UN, USA: SEKZF) is pleased to report encouraging results from the recently completed preliminary ground exploration program at the 100% owned Eagle River Gold Project (“Eagle River”) in the Abitibi greenstone belt area, Urban-Barry township of Quebec, Canada.
Secova commenced the Phase 1 exploration program at the Eagle River by having Geotech Ltd., of Aurora, Ontario fly a helicopter borne VTEM (“Versatile Time Domain Electromagnetic”) Plus survey over a portion of the property (940 line kilometres with 100m spacings on a total of 8,540 hectares). Longford Exploration Services’ (“Longford”) geophysical consultants completed interpreting the high-resolution data from the airborne and it was reported that the survey indicated 19 distinct anomalies that needed further exploration. An exploration program was designed that consisted of prospecting, geological mapping, and the collection of 30 till samples.
Of the 30 till samples taken and sent to Overburden Drilling Management in Ottawa for analysis, 29 of the samples contained gold grains, with results as high as 108 gold grains per sample (68 grains per 10kg of sample). A correlation between gold in till and the geophysical anomalies is observed with the best samples being “down ice” from geophysical anomalies. The results from the collected till samples were all in the south part of the VTEM exploration area. An interpretation of this result is that the samples may have been transported down ice which would lead to the conclusion that, assuming the particles did not travel more than 4 to 6 kilometers, the source of the gold would be within the Secova claims.
Till samples are taken from leftover glacial material and are generally analysed for their gold grain count. They are designed to pick up trace amounts of mineralisation and can be used as an important discovery tool.
“Longford did a great job in both identifying the anomalies and potential location of down ice results. The exploration program returned over a 96% success rate of finding gold particles. Not only that but some of the results are exciting when thinking about the next exploration steps. Although only a few of the results were pristine, there is a very high likelihood that all particles were sourced within Secova’s claim boundaries. These results compare very favourably to the Osisko till sampling study conducted on their Windfall property in 2015,” stated Brad Kitchen, C.E.O. of Secova Metals. “The Company will develop a further exploration plan to better delineate where the gold particles were sourced potentially leading to a drill program in the near future.”
The following table and map show the results from the Eagle River till sampling program and the location of the till samples:
|Sample||Visible Gold Grains||Visible Gold Grains per 10kg|
Table 1: Till sample results
Figure 1: Till sample locations and gold grain counts normalized to 10kg.
Due to the promising results, Secova has now planned a follow-up exploration program to further define the till anomalies. This will involve a more comprehensive till sampling program trending up ice in order to chase the most encouraging results and to determine where the gold mineralization could be located. One exciting factor about these encouraging till samples is that due to the direction of the ice flow the Company and its consultants believe the source of the gold is located within the company’s property borders.
Sampling, Analytical and QA/QC Procedures
Sample sites were chosen based on accessibility and location relative to geophysical anomalies. A ~15kg sample was taken from 1m depth into the basal till layer and pre-screened in the field to 10mm with characteristics noted and location marked with a handheld GPS. Sampling equipment was thoroughly cleaned between sample sites. Upon arrival at Overburden Drilling Management in Ottawa, Ontario, a 300g archive split was taken and the remainder was screened to 2mm. All samples were then panned for gold, PGM’s and fine grained metallic indicator minerals. Gold grains were then counted and characterized manually. Blank samples are inserted between projects and after anomalous samples, and sieves are cleaned meticulously after each concentrate.
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 exploration company focused on building a strong asset base through exploration of undervalued 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. In addition, the Company has made a strategic investment by acquiring 100% of a portfolio of four cobalt projects consisting of 76 claims or approximately 4,182 hectares in Quebec. Secova will use its expertise in early stage exploration to create shareholder value by attempting to prove out the potential resource in these assets.
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.