Secova metals makes strategic investment at Windfall
Lake
VANCOUVER, BRITISH COLUMBIA November 29, 2016 - InvestorsHub
Newswire - Secova Metals Corp. ("Secova" or
the "Company") (TSXV:SEK, Frankfurt: 4NUN,
USA:SEKZF) is very pleased to announce that the Company
has acquired 1084409 B.C. Ltd., a private B.C. Company which sole
asset is the Eagle River property (Eagle River) that consists of 77
claims or 4,354 contiguous hectares in the Windfall Lake gold
district, Quebec.
The Eagle River project is located south of Osisko Minings
Windfall Lake project and is adjacent to Bonterra Resources Inc.s
Gladiator property in the Urban-Berry area of Quebec. The
Management of Secova is intimately familiar with the structure of
the Windfall Lake project as they developed the mineralization
model. The mineralization structure continues to the south and has
been shown to strengthen as it hits Bonterras Gladiator project.
Secovas newly acquired claims lie directly to the south of these
recent discoveries.
Secova has taken advantage of this rare acquisition opportunity
to acquire the Eagle River claims that lie directly in the path of
the known gold mineralization at the Windfall Lake Camp, stated
Brad Kitchen, C.E.O. and Chairman of Secova Metals Corp. This is a
strategic investment that will not divert funds from its
exploration of the Duvay/Chenier claims but will add additional
value for our shareholders as the Windfall Lake area develops.
The acquisition is an arms-length transaction in which the
Company will issue 5 million common shares by way of a share
exchange agreement. In connection with the transaction, the Company
will issue a finders fee of 500,000 common shares.
The issuance of the acquisition and the finders fee of common
shares are subject to TSX Venture Exchange approval. Once issued,
the finders shares will be subject to a fourth month and one day
hold period.
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 Quebecs 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.
Secova Metals trades on the TSX Venture under the symbol SEK, in
the United States under the symbol SEKZF and on the Frankfurt
Exchange as 4NUN.
For more information on Secova Metals Corp. please contact
Morgan Good, Secovas President, at morgan.good@secovametals.com and Tel: +1 604-715-4751
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.
Suite 488 – 1090 West Georgia
St.,
Vancouver, BC
V6B 1L8
Brad Kitchen
CEO, Director and Chairman
Tel: +1 604-506-7555
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 Companys current expectations, estimates, forecasts
and projections. This forward-looking information includes, among
other things, statements with respect to the Companys 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 Companys actual results, level of activity,
performance or achievements to be materially different from those
expressed or implied by such forward-looking information.