- Category: 2016 News
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Secova Metals Corp. (SEK.V) is moving toward the execution of the exploration plan recommended in the recently completed geoscientific compilation on its Duvay gold property (BMAG report). The company has the right to earn up to 90 per cent of the combined Duvay and Chenier claims from Tres-Or Resources Ltd. in the Abitibi region of Quebec.
This report was prepared by Dr. Ali Ben Ayad, PGeo, PhD, MBA, of BMA Geo-Conseil (BMAG) under the supervision of Pierre-Jean Lafleur, the company's project manager and director.
The BMAG report provides a geological compilation, including an analysis of the mineralization and structure of the gold zones on the Duvay property, suggesting a new model to find potential gold zones, using a new IPower 3-D induced polarization survey methodology and more efficient drilling.
"The gold mineralization model provides a clear road map on what exploration is required," stated Morgan Good, president of Secova. "The model shows distinct, well-defined cigar-shaped zones of gold mineralization in the 700-metre-long-by-one-kilometre-wide area studied last spring. It provides guidelines to extend the exploration on strike over 3.3 kilometres based on geological evidence. We look forward to determining the presence of gold, the grade and size of these mineralized zones."
For more details on the mineralization of the Duvay project claims and the exploration plan, please refer to the company's press release dated Sept. 16, 2016, and read the full BMAG report on Secova's website.
The objective of the exploration program is to prepare and to drill 5,250 metres in 16 holes on eight target zones in three phases budgeted at $1.39-million. The targets may host gold in cigar-shaped steep-plunging narrow pipes along a 3.3 km shear zone double structure crosscut by faults. The intersections of these structures are the targets that responded to the IPower survey completed by Abitibi Geophysics. The program will expand mostly to the northwest of existing historical workings, including a 1947 exploration shaft with two underground levels (105 and 220 m), 331 drill holes and a small test pit started in 1991 by Sphinx. The IPower survey is proposed to extend along strike and follow up on interesting anomalies as the first phase. Phase 1 will also target several anomalies recommended for follow-up on the Duvay and Chenier property claims.
The Duvay project program is divided in 3 phases as follows:
- Phase 1 continuing geoscientific compilation:
- Add information from Chenier claims to database;
- Conduct IPower 3-D survey along strike on Northwest Chenier claims;
- Create a revised 3-D model and prepare sections/maps for drilling;
- Phase 2 and phase 3 diamond drill holes:
- Total anticipated drilling of 5,250 m in 16-drill-hole program to test eight target zones in two phases (half and half); phase 3 depends on results of phase 2;
- Reconnaissance of Northwest area deep anomaly using IPower 3-D;
- Study anomaly below the zone de la Fosse;
- Study cigar-shaped mineralized zones deep connections;
- Drill the five remaining cigar-shaped anomalies along the Main East and North shears;
- Add drill data to the GEMS database and upgrade 3-D model with the drill results and IPower 3-D survey.
Historical exploration depth averaged 100 m. Secova's current exploration program depth is over 300 m. The consolidated Duvay property includes many other gold zones such as Grenadier West, East Mac, Bunker, Fontana not to mention others just outside of the property (such as Standard). Secova remains focused to develop its exploration program one step at a time.
- Category: 2016 News
- Hits: 132
LAGUNA ANNOUNCES LETTER OF INTENT WITH CARLSBAD NATURALS CBD BOTTLED WATER COMPANY TO ACQUIRE 60% EQUITY INTEREST AND EXCLUSIVE LICENSES IN A TRANSACTION VALUED AT $1.8 MM USD
Laguna Blends Inc. (LAG.C) has signed a letter of intent with Carlsbad Naturals whereby Laguna and Carlsbad plan to enter into an equity acquisition and exclusive licence agreement for the purpose of pursuing mutually beneficial business opportunities in the cannabidiol (CBD) bottled water industry and CBD ingestible products industry.
Carlsbad is a market leader in the distribution and sales of nano-amplified CBD bottled water in the United States. The company has a proprietary process of incorporating CBD into its formulation. Carlsbad Naturals has achieved unaudited U.S. sales in excess of $500,000 in its first year of business as of Aug. 31, 2016.
The hemp cannabinoid innovator, Isodiol, sources nano-amplified hemp CBD to manufacturers to create unique finished products. Isodiol is a shareholder in Carlsbad.
"We are proud to announce the alignment of Laguna Blends and Carlsbad Naturals," stated Jared Berry, co-founder of Carlsbad Naturals. "Laguna Blends' extensive client base and distribution network will fulfill the growing demand for hemp CBD products worldwide."
Stuart Gray, Laguna's chief executive officer, said: "With the growing awareness and market demand of CBD worldwide Laguna is positioning itself to be a market leader in the sale of CBD bottled water. In addition to the current sales growth of Carlsbad, Laguna can generate CBD water sales through its existing affiliates in the U.S. and Canada. Laguna currently is in discussions internationally with wholesale distributors regarding Carlsbad white label opportunities."
Ray Grimm, Laguna's president, stated: "The partnership with Carlsbad firmly solidifies Laguna as a unique player in the crowded multibillion-dollar bottled water industry. The team of doctors that formulated the Carlsbad water did so with the sole purpose of creating a high alkaline water offering the benefits of CBD. Many believe this to be the next evolution in the water industry, providing unique health benefits due to the proprietary nanotechnology. Carlsbad CBD water provides antioxidants at the cellular level along with providing cellular hydration and energy."
"Carlsbad Naturals' all-natural hemp CBD nano-amplified water has been a game changer for the people who frequent our location," stated Larry Banegas, founder of the Kuseyaay Wellness Center on the Barona reservation. "Since the beginning of time, indigenous people have always been in tune with nature and sought benefits from plant botanicals. With today's natural retail products, however, consistency can be difficult to achieve. The formulators of Carlsbad Naturals' water have achieved consistency and quality at the highest level. It doesn't get more natural than this. Visitors to our facility have come to rely on an ample supply of this unique bottled water."
Pursuant to the terms of the proposed transaction, Laguna will have the ability to acquire majority control of the company with total equity interest of 60 per cent. Laguna will initially purchase 19-per-cent equity interest in Carlsbad for a one-time payment of $570,000 (U.S.) (paid for in Laguna common shares). Laguna will then have a 120-day option from the date of a signed definitive agreement to acquire an additional 41-per-cent interest for $1.23-million (U.S.) (paid in shares and cash). The common shares issued are subject to a six-month hold and a lock-up leak-out agreement.