Secova Metals Corp. has provided an update on the recent consolidation activity with its neighbours and the resultant upside at the Eagle River project in the Windfall Lake gold camp of Urban Barry, Quebec.
As a result of recent consolidations, there are only three companies with significant land packages at the Windfall Lake Camp. These companies are Secova Metals, Bonterra Resources Inc. (TSXV: BTR)(“Bonterra”) and Osisko Mining Inc. (TSXV: OSK) (“Osisko”). Osisko and Bonterra have a current combined market capitalization of over $750 million.
“It is important that our shareholders know the inherent value of the Company’s asset at the Windfall lake Camp. Having been the first other company to acquire its position before the Urban Barry staking rush of 2017, Secova was the claim staking bellwether. Being one of only three players in the area means that there is little opportunity, other than Secova, for investors to participate in the upside of the development of this gold camp,” stated Brad Kitchen, C.E.O. of Secova Metals. “Further, with Management’s experience in the area and more importantly, knowing how to successfully develop projects, Secova has the abilities, technical knowledge and is positioned access the potential of the property and increase the value of the Eagle River project.”
It should also be noted that the Company acquired this massive land package prior to the development activity and related capital raising activity by its neighbours. Secova has not participated in the increase in market capitalization for other companies in this region because the Company has not focused its attention on this project. As announced on November 5, 2018, Secova is planning to conduct an extensive exploration project targeted to release the unrecognized value. The intention of this wide-ranging program is to determine the extent of the potential gold resources that may continue onto Secova’s properties. Both Osisko Mining & Bonterra Resources continue to discover new areas with high-grade gold values.
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.
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