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Saville Resources to acquire Zimtu Capital's Covette property

Saville Resources Inc. said Nov. 27 that it signed an agreement to acquire the Covette property in Quebec from Zimtu Capital Corp., subject to exchange approval.

A 2016 versatile time domain electromagnetic survey identified several high-priority electromagnetic conductors coincident with strong and distinct magnetic high anomalies at the property that are considered prospective for base and precious metal targets.

Ground prospecting was also undertaken at Covette, and Saville is waiting for the results from the targets identified from the 2016 survey. Pegmatite occurrences were sampled, being favorable hosts to rare metal mineralization such as lithium.

In the same statement, Saville said Michael Hodge was named its president and CEO and Jody Bellefleur was named CFO. Hodge was also added to the company's board, as Zhi Gang Ding resigned as a Saville director.