Secova provides summer corporate update
Secova Provides Summer Corporate Update
VANCOUVER, BRITISH COLUMBIA – July 4, 2022 – Secova Metals Corp. (“Secova” or the
“Company”) (CSE: SEK, Frankfurt: N4UP, OTC: SEKZF) is pleased to provide the following update
on the Company’s plans for the 2022 summer season.
At Montauban, the Company anticipates receipt of the assay results from its 275-hole drilling
program by the middle of July. These assay results will form the support for the Preliminary
Economic Assessment (“PEA”) on the tailings. Secova will be able to use this assessment to better
understand the mineral composition of each of the five (5) tailings deposits and use this
information to assist in the logistics required to process and extract the minerals already identified
in the tailings.
In addition, Longford Exploration is continuing to compile all historic drilling and mining
information on the underground works at Montauban. The intention is to digitize this information
so that it can be incorporated into a model that outlines the extent of the underground resource
at the site. Although Montauban has had some form of operations since 1910, there has never
been a comprehensive model compiled.
Over 75% of the equipment required to put the mill into operation has been sourced and the
Company anticipates beginning this month the refurbishing of the used equipment and site
preparation to install the major components of the processing plant.
In other operations, Secova will begin its underwater sampling program at its Ottawa River project
in two (2) weeks. These samples will be analyzed to determine if recoverable metal residuals are
present on the riverbed. If the analysis of the sampling program proves positive, then the
Company will commence a systematic extraction program beginning in the fall of 2022.
In other corporate news, the Company is adding a half warrant to the previously announced
private placement. The offering is now a unit consisting of one common share and one-half
warrant that when combined to form a whole warrant, the holder will be able to purchase one
(1) common share at a price of $0.10. The warrant has a term of twelve (12) months from the
closing date of the Private Placement.
In addition, the Company has issued to advisors and officers 1 million options at $0.05 per share
and 500,000 options at $0.095 per share that will vest quarterly and issued 2.5 million restricted
share units.
All securities issued in connection with the offering and the grants will be subject to a statutory
hold period expiring in accordance with applicable securities legislation. The company may pay
eligible finders a fee on the offering within the amount permitted by the policies of the Canadian
Securities Exchange.
Pour une traduction française de ce communiqué de presse, veuillez visiter notre site Web à
www.secova.ca.
About the Company
Secova Metals Corp. is a Canadian environmentally aware resource exploration and processing
company. Management has demonstrated expertise in advancing gold exploration projects into
acquisition targets, most notably in the province of Quebec. Secova’s principal restoration and
recovery project is the Montauban property situated in Quebec, just 80 kilometers west of
Quebec City. Recently, The Company has also entered into a joint venture agreement to
determine the presence of recoverable metals in the Ottawa River. The Company’s main
exploration focus is its 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 protected], Tel: +1 438-399-
6316 or visit the website at www.secova.ca for the French version of this news release, past news
releases, 3D model of the Montauban processing plant, media interviews and opinion-editorial
pieces.
On behalf of the Board of Directors,
SECOVA METALS CORP.
“Jean Yves Therien”
Chief Executive Officer
Tel: +1 438-399-6316
Email: [email protected]
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.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accept
responsibility for the adequacy or accuracy of this release.