Featured Company /
Secova Metals Corp.
The Abitibi greenstone belt in Quebec, Canada is one of the most storied and prolific mining regions in the world. In a little over a century, the belt has produced more than 100 mines, in excess of 170 million ounces of gold, 35 billion pounds of zinc, 15 billion pounds of copper and 400 million ounces of silver.
Abitibi is home to the Windfall Lake property (1.8 million ounces gold), which was brought forward by Eagle Hill Exploration before the company was bought by Oban Mining (now Osisko Mining (TSX:OSK)). This is worth noting as Brad Kitchen, the original CEO of Eagle Hill, is now leading the team at Vancouver-based Secova Metals Corp. (TSX-Venture:SEK) (OTC:SEKZF) and employing a similar strategy on property development to grow value.
Kitchen wants to replicate his prior success by starting with a property with strong historic results, putting together a large model, expanding the resources and developing the property more fully. The flagship property of Secova is the Duvay/Chenier Gold Project next to Amos Quebec, consisting of 174 claims covering over 7,766 hectares located in a favourable geological setting with potential for hosting either a near surface bulk tonnage gold deposit or an Archean shearhosted gold deposit. The project is a near surface high grade gold exploration project.
Duvay has a historic non-compliant resource of 500,000 ounces of gold from surface to a depth of 55 metres in 250 square metres at an average grade of 2.0 grams/tonne gold. Highlights from historical results range as high at 402 g/t gold over 0.36 metres and 83.19 g/t gold over 1.0 metre.
An industry leading IPower3D survey was conducted on the Duvay last year. This survey technology has the capabilities to reach depths of 400 metres and produces 3D models of potential ore bodies. After Secova’s modelling of the data they discovered six “cigar-shaped” mineralized drill targets across a 750-meter strike length and all to depths of 400 metres. With the six identified targets the company realized that the six targets were pointing towards the North-west so they decided to postpone last year’s drilling to acquire all the claims above the project. The property has all necessary infrastructure in place, including water, electricity, internet, core shack and gravity mill on site and is now drill ready.
On November 29, Secova added to its Quebec position by acquiring the company owning the Eagle River project consisting of 77 claims (4,354 contiguous hectares) in the Windfall Lake gold district south of Osisko’s property. Kitchen, who knows the region well, believes that Eagle River is on trend with the surrounding Windfall, Urban Barry and Gladiator gold projects. In February, another 1,018 hectares (18 claims) were added to the project through another acquisition. And just today the company announced that it has acquired an additional 14,369 hectares creating a total land position of almost 20,000 hectares.
In the last 40 days there has been over $100M worth of bought deals on all of the on-trend projects at the Eagle River. Secova has the foresight to handpick a land position months in advance and to also add to it. In the last two weeks there has been tremendous activity of claims being staked by over a dozen companies but Secova was there first and got what they wanted.
Further strengthening itself as an area play, Secova in February acquired a private British Columbia company that owned the Cobalt Bay Property, covering almost 2,000 contiguous hectares (36 claims) in Daine Township, Quebec. Like the other projects historic work and/or surrounding projects lend to the potential of large resources.
Secova management and insiders have plenty of skin in the game, controlling over 40% of the approximately 89 million shares outstanding. Kitchen has a long history of raising capital to move projects ahead. So far in 2017, Secova has completed a $2.5 million non-brokered (and non flow-through) financing to fund exploration efforts to prove resources on its growing portfolio of properties in Quebec. We like what we see here, and feel that investors should take a second look at Secova Metals Corp. (TSX-Venture:SEK) (OTC:SEKZF).
Corporate Snapshot:
Secova Metals Corp.
Stock Symbol:
CA
Stock Exchange:
TSX-Venture
Sector:
Natural Resources
52 Week High:
$0.1100
52 Week Low:
$0.0350
Alt Exchange/Ticker:
OTC:SEKZF
Current Stock Quote / Chart / News: Click here
Information as of
March 23, 2017
The Abitibi greenstone belt in Quebec, Canada is one of the most storied and prolific mining regions in the world. In a little over a century, the belt has produced more than 100 mines, in excess of 170 million ounces of gold, 35 billion pounds of zinc, 15 billion pounds of copper and 400 million ounces of silver.
Abitibi is home to the Windfall Lake property (1.8 million ounces gold), which was brought forward by Eagle Hill Exploration before the company was bought by Oban Mining (now Osisko Mining (TSX:OSK)). This is worth noting as Brad Kitchen, the original CEO of Eagle Hill, is now leading the team at Vancouver-based Secova Metals Corp. (TSX-Venture:SEK) (OTC:SEKZF) and employing a similar strategy on property development to grow value.
Kitchen wants to replicate his prior success by starting with a property with strong historic results, putting together a large model, expanding the resources and developing the property more fully. The flagship property of Secova is the Duvay/Chenier Gold Project next to Amos Quebec, consisting of 174 claims covering over 7,766 hectares located in a favourable geological setting with potential for hosting either a near surface bulk tonnage gold deposit or an Archean shearhosted gold deposit. The project is a near surface high grade gold exploration project.
Duvay has a historic non-compliant resource of 500,000 ounces of gold from surface to a depth of 55 metres in 250 square metres at an average grade of 2.0 grams/tonne gold. Highlights from historical results range as high at 402 g/t gold over 0.36 metres and 83.19 g/t gold over 1.0 metre.
An industry leading IPower3D survey was conducted on the Duvay last year. This survey technology has the capabilities to reach depths of 400 metres and produces 3D models of potential ore bodies. After Secova’s modelling of the data they discovered six “cigar-shaped” mineralized drill targets across a 750-meter strike length and all to depths of 400 metres. With the six identified targets the company realized that the six targets were pointing towards the North-west so they decided to postpone last year’s drilling to acquire all the claims above the project. The property has all necessary infrastructure in place, including water, electricity, internet, core shack and gravity mill on site and is now drill ready.
On November 29, Secova added to its Quebec position by acquiring the company owning the Eagle River project consisting of 77 claims (4,354 contiguous hectares) in the Windfall Lake gold district south of Osisko’s property. Kitchen, who knows the region well, believes that Eagle River is on trend with the surrounding Windfall, Urban Barry and Gladiator gold projects. In February, another 1,018 hectares (18 claims) were added to the project through another acquisition. And just today the company announced that it has acquired an additional 14,369 hectares creating a total land position of almost 20,000 hectares.
In the last 40 days there has been over $100M worth of bought deals on all of the on-trend projects at the Eagle River. Secova has the foresight to handpick a land position months in advance and to also add to it. In the last two weeks there has been tremendous activity of claims being staked by over a dozen companies but Secova was there first and got what they wanted.
Further strengthening itself as an area play, Secova in February acquired a private British Columbia company that owned the Cobalt Bay Property, covering almost 2,000 contiguous hectares (36 claims) in Daine Township, Quebec. Like the other projects historic work and/or surrounding projects lend to the potential of large resources.
Secova management and insiders have plenty of skin in the game, controlling over 40% of the approximately 89 million shares outstanding. Kitchen has a long history of raising capital to move projects ahead. So far in 2017, Secova has completed a $2.5 million non-brokered (and non flow-through) financing to fund exploration efforts to prove resources on its growing portfolio of properties in Quebec. We like what we see here, and feel that investors should take a second look at Secova Metals Corp. (TSX-Venture:SEK) (OTC:SEKZF).
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Forward Looking Statements
This report includes forward-looking statements that reflect current expectations about its future results, performance, prospects and opportunities. Secova Metals Corp. has tried to identify these forward-looking statements by using words and phrases such as "may," "will," "expects," "anticipates," "believes," "intends," "estimates," "plan," "should," "typical," "preliminary," "we are confident" or similar expressions. These forward-looking statements are based on information currently available and are subject to a number of risks, uncertainties and other factors that could cause Secova Metals Corp.'s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and other factors include, without limitation, the Company's growth expectations and ongoing funding requirements, and specifically, the Company's growth prospects with scalable customers, and those outlined above. Other risks include the Company's limited operating history, the Company's history of operating losses, consumers' acceptance, the Company's use of licensed technologies, risk of increased competition, the potential need for additional financing, the terms and conditions of any financing that is consummated, the limited trading market for the Company's securities, the possible volatility of the Company's stock price, the concentration of ownership, and the potential fluctuation in the Company's operating results.
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