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DIAGNOS Announces Sale of 22 Concessions to Threegold Resources(July 19, 2012)
BROSSARD, QUEBEC, CANADA -- (Marketwire) -- 07/19/12 -- DIAGNOS Inc. ("DIAGNOS" or the "Corporation") (TSX VENTURE:ADK), a leader in the use of knowledge extraction and artificial intelligence ("IA") tools, announced today the sale of its Collines Bearn and Dalquier properties to Threegold Resources inc., located directly beside Threegold's Rousseau West property. Those properties are found approximately 85 km from the city of Rouyn Noranda and 13 km from the city of Amos in Abitibi and correspond to 22 mining titles on a map totaling 1,282 hectares.
Evidence exists on the Dalquier property suggesting that the main gold vein thickens extensively. Though the thickness of the vein varies from 5 to 30 cm on the surface, the vein was bisected at 0.3 and 1.1 m and at 79m and 70m respectively (GM 01714, 3.8 g/t over 0.3 m and 4.4 g/t over 1.1 m). There are also two unconfirmed indicators of 1.86% and 2.34% of tungsten on the property.
The best results from the Collines Bearn property (GM 47679, 5.1% Zn over 0.9m) and (GM 48933 0.16% Cu, 0.34% Zn + 0.2% Pb over 0.3 m) show that the mineralization on the Collines Bearn property is probably of VMS typology, given its proximity to the Gordona showing. The DIAGNOS targets and several positive drill results were recovered along the contact
between granite and interbedded andesites and basalt units.
Under the provisions of the purchase agreement, Threegold Resources will acquire 100% of the concessions by making cash payment of $10,000 and by issuing 200,000 common shares of Threegold Resources on behalf of DIAGNOS. Also, a 2% royalty on the net return of the smelting revenues associated with the minerals and concentrates to be extracted from the concessions will be perceived by DIAGNOS. The purchase agreement stipulates that Threegold Resources may, at any time, reduce the royalty from 2% to 1% by paying DIAGNOS $1,000,000 in cash.
Founded in 1998, DIAGNOS is a Canadian corporation (TSX VENTURE:ADK) that develops and commercializes technologies that combine contextual imaging and traditional data mining to improve decision-making processes. DIAGNOS' world-class products and services support clients in the healthcare, natural resources and entertainment industries.
DIAGNOS can count on a multidisciplinary team that includes professionals in geophysics, geology, Artificial Intelligence, mathematics, as well as remote sensing and image interpretation. The Corporation's objective is to develop a new royalty stream by significantly enhancing and participating in the exploration success rate of mining. For further information, please visit our Website at www.diagnos.com.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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