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Secova Metals Corp.

Company Data | Introduction | Projects in Hand | Management
News Update
| Chinese

Address :  488 –1090 West Georgia Street
Vancouver, BC
Canada V6E 3V7
Tel No.: 604-803-5229
Web Site: www.secova.ca
E-mail: glen.watson@secova.ca
Contact Person: Glen Watson
Position: VP Marketing


Company Data

Traded Market: CSE | OTC | FSE
Traded Symbol: SEK | SEKZF | N4UP
Outstanding Shares: 173,637,254
Public Float: ~75,000,000
52 Week High: $ 0.22
52 Week Low: $ 0.055
Present Price: Click Here


Introduction

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Secova Metals Corp. (“Secova”) is a Canadian Gold exploration company based in Vancouver, BC, focused on finding undervalued Canadian assets that are near-term revenue-producing.

  • Secova is focused primarily on the acquisition, exploration and evaluation of mineral properties located in Canada
  • The Company is developing the Montauban Mine Project to profitably extract significant residue minerals while restoring and returning the mine property to environmentally safe standards
  • The Montauban Mine Property comprises 65 mining claims or 1,846 hectares in the Notre-Dame-de-Montauban municipality, Quebec
  • The Company is also exploring the Eagle River Project adjacent to Osisko’s Windfall Lake project


Projects in Hand

(1) Montauban Project, Quebec

Montauban Highlights

  • Fully permitted processing operations for 1,000 t/d mill.
  • Mill building and infrastructure, including hydro, is completed.
  • Mill engineering has been completed by Alphard Engineering in Montreal
  • Heavy Mill Equipment has been secured and has been moved to the site.
  • Installation to begin Q2 2022
  • Gold and Silver Resource
    • Tailings:
      •  Estimate 1.4 million tonnes (462,000 tonnes compliant with March 2019 43-101 Report)
      •  Grading at 0.86 g/t AuEq (Compliant with March 2019 43-101 Report)
      •  4.4 years of tailings production (320 days/yr)
      •  50,000 ounces of AuEq from the tailings (US$90 million)
    • Hard Rock mining opportunity:
      •  Historic 43-101 grading at 3.6 g/t Au near surface
      •  Estimate 9-12 years of further production
      •  Was an operating mine from 1919 to 1990
  • Preliminary economic assessment (PEA) on Montauban resource to be completed in Spring 2022

The Montauban Site Opportunity

  • With the right support and investment, a contaminated site can be an opportunity for companies that can process mine tailings while restoring the sites back to a natural “green” state.
  • This includes the Montauban site, which has the status of an abandoned site since the companies responsible for the contamination no longer exist leaving the Province liable for restoration.
  • There are numerous other abandoned mining and mining exploration sites in Quebec with contaminated tailings where this process could be repeated.
  • Significant anticipated revenues provide capital to advance Secova’s other exploration properties.

Secova's Montauban Business Model

Secova has a viable solution, which encompasses the restoration of contaminated tailings sites and the extraction of precious metals including gold and silver as well as industrial minerals such as mica, and directing a portion of anticipated profits to further drilling and exploration of the Eagle River project.

Work Completed To Date by Secova

  • Over $9M has been invested in developing the Montauban opportunity
  • Secova has obtained all the required permits to restore this contaminated site and has signed the required protocols with the municipality of Notre-Dame-de-Montauban
  • The Company has completed all the infrastructures including access roads, a 1,3 km long hydro power line, and a 16,000 SF milling facility
  • Working with Alphard Engineering in Montreal, Secova has completed the engineering design for the processing plant
  • The Company has sourced and acquired 50% of the necessary milling equipment required for the commercial production on the Montauban Property

Project Investment Objectives

  • Secure private and public sector financing to begin production within six to nine months
  • Process mining residues, recover the precious metals (gold, silver and industrial metal muscovite (mica)) and restore the site (decontaminate) through treatment and neutralization
  • Upgrade the processing mill to accommodate crushing and grinding facilities to be able to mine and process the near surface mineralized zones

(2) Eagle River Project, Quebec

  • Acquired 386 claims (21,472 hectares) prior to a major staking rush in the Urban-Barry district
  • Located south-east of Osisko's Windfall Lake project
  • On trend to the Windfall Lake project and adjacent to Bonterra's Gladiator project
  • Osisko is currently developing its Windfall lake property
  • Secova has completed its Phase 1 Exploration Program – till results pending
  • Recently acquired 10 additional claims on strike
  • Currently drilling on-site


Management

Management and Directors

Brad Kitchen, MBA, B.Ap.Sc., President, CEO & Director

Over 31 years of experience in investment banking and heading up corporations

Recently served as the President and CEO of Eagle Hill Exploration Corporation

Served as VP Structured Financing with CIBC World Markets and TD Securities for 11 years

Has worked with junior resource companies focusing on mineral exploration and oil & gas industries through his company, PBK Capital Corp., for the past 20 years

Paul Mastanuono, Chief Operating Officer

Started a transportation company in early 2000 and later focused on the transportation of bulk materials in the construction industry

Currently working for Kiewit operating heavy vehicles on the Turcot exchange construction project

Has worked as an independent business consultant for many companies, most recently for DNA Precious Metals Inc.

James Chandik, VP Government Relations

Has been President & CEO of DNA Precious Metals since the company's inception

Has held jobs as General Manager Sales, notable for Datacom Wireless Corporation, Navigata Communications, as well as Sales Director for Fourgons LeClair Inc.

Glen Watson, VP Marketing

Has solid expertise in marketing, shareholder and investor communication

Held senior executive positions and directorships in several private and public companies including in the mining industry

His corporate experience, knowledge of the capital markets, and network in the investment community provides the resources to navigate the public sector and to support the Company's marketing and communication strategy.

Rebecca Ong, CFA, CPA, Chief Financial Officer

A seasoned executive with over 30 years of experience in finance.

Vikas Ranjan, MBA, Director

Management professional with over 25 years experience in diverse areas of finance, capital markets, entrepreneurship and investing

Co-founder of Gravitas Group of companies

Jack Huang, CPA MSc, Director

Founding partner at Katalyst Chartered Professional Accountants

James Rogers, Qualified Person

Resource professional and entrepreneur active in the exploration and mining sector for over 13 years


News Update

On June 29, 2022, Secova Metals Corp. announced that the Company has engaged Soderholm Maritime Services Inc. ("Soderholm") to conduct the initial underwater sampling programme at Secova's Ottawa River project. Soderholm is one of the leading underwater service specialists in Canada and has been in operations since 1979. Their reputation for exceptional workmanship and dependable scheduling makes Soderholm a perfect partner for Secova on its Ottawa River Project.

The first phase of Secova's operations at the Ottawa River site will be an eight (8) day underwater work programme beginning on July 18 th . Secova's joint-venture partner, Nepean Bay Joint Venture Inc. has completed an extensive bathymetric survey to identify high priority sample areas. During this initial phase it is Secova's intention to collect several individual 1 Kg samples as well as bulk samples from previously identified potential targets.

On June 16, 2022, Secova Metals Corp. has named Ron Perry and Michel Fontaine to its advisory board. These two individuals have experience in the mining sector as well as broad business acumen in general. Their specific expertise in resource production will be an enormous asset for Secova.

On June 15, 2022, Secova Metals Corp. provided the following update on the status of the Preliminary Economic Assessment (the "PEA") on the entire tailings deposit at Montauban.

The Company engaged Longford Exploration Services Limited ("Longford") to oversee the project and conduct a 275-hole drill program on the extensive tailings deposits at Montauban. The drill program announced on March 1, 2022, is complete and approximately 750 samples have been sent to ALS Limited ("ALS") in Montreal for assaying. Due to the large number of assays, their physical size and protracted drying time, processing the samples and obtaining the assay results are taking longer than anticipated. However, ALS has assured Longford that all data should be delivered by the middle of July.

This data will then be shared with BBA Engineering Ltd. ("BBA") who have been contracted to provide an updated NI 43-101 and a related PEA. The engagement with BBA includes:

  • Drill planning (completed)
  • Sites visits (ongoing)
  • Mineral Resource estimate (pending)
  • PEA planning (ongoing)
  • Secova Metals Corp. has appointed Martin Prescott as an independent director.

On June 09, 2022, Secova Metals Corp. has appointed Martin Prescott as an independent director. Mr. Prescott has over 25 years of experience relating to stock market trading, blockchain and investment experience. He is a serial entrepreneur and public speaker, educating business leaders and investors about capital market Environmental, Social and Governance ("ESG") investments and blockchain technologies.

On June 08, 2022, Secova Metals Corp. has signed an option agreement with Nepean Bay Joint Venture Inc. (NBJV). NBJV is the legal and beneficial owner of the land use permit of 2.6 hectares within the bed of the Ottawa River and the owner of any salable residuals from the land use permit ("LUP" or "the Ottawa River Project").

Under the Option Agreement, NBJV grants Secova the right to earn 50% interests in the Ottawa River Project. Secova is required under the terms of the Option Agreement to pay to NBJV $50,000 upon signing of the Option Agreement as well as to fulfill expenditure requirements for the Ottawa River Project. The parties agreed that Secova will be the operator of the Ottawa River Project.

On June 02, 2022, Secova Metals Corp. has appointed Jean Yves Therien as chief executive officer of the company, effective immediately.

Mr. Therien has more than 12 years of senior management experience in mining and green mining technologies. Mr. Therien was instrumental in the restructuring of G.E.T.T. Gold Inc., formerly Nippon Dragon Resources Inc., a publicly traded hybrid mining and technology company where he remains as corporate development adviser. Mr. Therien maintains an extensive network of contacts in North America and around the globe. Mr. Therien received a BA degree in finance from UQAM.

On March 16, 2022, Secova Metals Corp. announced that it has granted an aggregate of 5,227,857 restricted share units (RSUs) on March 15, 2022 to certain directors, officers, employees and consultants of the Company.

On March 1, 2022, Secova Metals Corp. announced that it has mobilized a sonic drill rig to the Montauban gold project in order to complete a resource definition drilling program.

The drilling program comprises roughly 275 holes at 25-metre spacings and at depths of up to 15 m. The focus of the exploration will be on all five tailings sites on the property, including the Montauban United site, which has not been previously evaluated. The upcoming program will build upon previous campaigns with a higher density of holes and a full analytical suite leading to an even higher degree of confidence in the amount of metals contained.

Concurrent to the sonic drilling, a geophysical crew will conduct a combination of seismic refraction and ground-penetrating radar surveys to accurately delineate the depth of the tailings for a more precise volumetric measurement.

On February 8, 2022, Secova Metals Corp. announced that it has filed an independent NI 43-101 technical report on its Montauban Project.


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