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Secova Metals: Preliminary Economic Assessment On Montauban Nearing Completion
VANCOUVER, BRITISH COLUMBIA – TheNewswire - June 15, 2022 – Secova Metals Corp. (“Secova” or the “Company”) (CSE:SEK), (Frankfurt:N4UP), (OTC:SEKZF) is pleased
About this update from Esgold Corp
[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA – TheNewswire - June 15, 2022 – Secova Metals Corp. (“Secova” or the “Company”) (CSE:SEK), (Frankfurt:N4UP), (OTC:SEKZF) is pleased to provide 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 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. The Company anticipates receipt of the PEA in August 2022. In other corporate news, Secova is pleased to announce that it has significantly advanced the construction of the Montauban Mill Facility and has identified the remaining equipment required to bring the Mill to completion. As such, the Company has arranged a non-brokered private placement to raise gross proceeds to the company of up to $1.5 million by the issuance of up to 30 million common shares at a purchase price of five (5) cents per share. The company will use the proceeds from the sale of the shares to acquire the final equipment required to complete the mill at Montauban. complete work on the PEA. compile and create a comprehensive model detailing all underground data with the intention of developing an extensive drill program resource in the ground at Mo...