By Cory Secova Metals’ Phase 1 Drill Program Nears Completion at the Duvay/Chenier Gold Project, Quebec
Here is the latest news from Secova. It looks like we should be getting some drill results fairly soon. The news does a good job of breaking down the drill targets if you want more background on why they are focusing on the certain areas.
We also learn that the Company is raising money through a flow-through and non-flow-through offering. I will be reaching out to the CEO Brad Kitchen this week for a comment. Please let me know if you have any questions you would like answered.
I continue to hold my shares and will reassess after chatting with Brad and once we get the drill results. I am still deciding if I will be participating in the current raise.
Click here to visit the Secova website.
Here’s the news…
Secova Metals Corp. is pleased to announce that the Phase I drill program at the Duvay/Chenier Project has just completed 18 holes since its inception in August and nears Phase I completion. The Phase 1 drill program has focused on three targets: 1) the northeast shear zone/strong induced polarization (IP) chargeability target; 2) the Duvay Zone Principal, and 3) coincident magnetic/electromagnetic (EM) and structural targets 2 kms northwest of the Zone Principal, near Lake Obalski.
The following describes the three primary targets on Secova’s first drill program at Duvay/Chenier:
NE shear zone/Strong IP anomaly
The program began with 5 holes testing the NE shear zone/strong IP chargeability target. This target is located approximately 400 m NE of the Duvay Zone Principal, in an area of relatively sparse historical work. The new drill tests of the NE shear zone have intersected encouraging thick deformed quartz veins (up to 5.4 m in the first hole, although true thickness remains unknown) and local semi-massive to massive sulfides. The most encouraging intersections have been sampled and shipped to the laboratory Techni-Lab Abitibi Inc. (a division of Actlabs, Ancaster, Ontario) with the first results anticipated in the next few weeks
Duvay Zone Principal
The drill was then moved to test the Zone Principal, where historical work extending back to the 1930s includes an old exploration shaft, underground galleries, numerous drill holes, and multiple bulk samples up to 1100 tonnes a piece. The bulk samples from the Zone Principal also reported intriguing results historically, including 3,300 tonnes in 1986 returning a weighted average concentration of 5.67 g/t Au (as reported in Québec assessment work report # GM47569). The current drill tests of the Zone Principal are designed to test northeast trending faults extending from the main Duvay shear.
Coincident mag/EM anomalies near Lake Obalski
After completion of the tests at the NE faults and the Zone Principal at Duvay, the drill moved to test multiple coincident magnetic/EM targets near Lake Obalski, 2 kms west-northwest of the Zone Principal. These tests are being completed now. The drill will then move back to the Zone Principal to complete the program.
Secova is very encouraged by the program to date, and looks forward to …read more
Source:: The Korelin Economics Report
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