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DIAGNOS Announces the Sale of 25 Mineral Claims to TomaGold(April 17, 2012)
BROSSARD, QUEBEC, CANADA -- (Marketwire) -- 04/17/12 -- DIAGNOS inc. ("DIAGNOS" or the "Corporation") (TSX VENTURE:ADK), a leader in the use of artificial intelligence ("AI") and advanced knowledge extraction techniques, is pleased to announce the sale of Lac a l'Eau Jaune Property (LEJ) approximately 50 km southeast of the town of Chapais and 48 km south-southwest of the city of Chibougamau.
LEJ is located in the Plan Nord and in the North administrative region of the province of Quebec. The property is easily reached from the provincial paved highway no 113. The LEJ Property is comprised of 25 map designated claims, totalling 1,395 hectares, in one contiguous, irregular shaped block.
LEJ was identified by (CARDS) applying the known signatures of gold deposits in the Chibougamau district to the surrounding area. Specifically, CARDS highlighted a significant zone of 90% probability of fostering the discovery of a significant gold deposit.The LEJ Property is largely underlain by the mafic volcanic rocks of the Obatogamau Formation intruded by the granodioritic to tonalitic rocks and dykes of the Eau Jaune Complex and the Chico Stock.
In November 2007 and May 2008, DIAGNOS inc. (DIAGNOS) conducted two reconnaissance exploration programs on the property. Results of rock sample assays include: sample #794205, 4.52% Cu, collected in the southwest area of the property, 250 m south of a known copper showing that returned 0.59% Cu; sample #794223, 2.64 g/t Au, collected in the vicinity of a known showing that returned assays of 6.2 g/t and 1.8 g/t Au.
Under the terms of the Purchase Agreement, TomaGold will acquire 100% of the Claims by issuing to Diagnos 250,000 common shares of TomaGold Corporation and granting to Diagnos a royalty of 2% of the net smelter return in connection with ores and concentrates extracted from the property underlying the Claims. The Purchase Agreement provides that TomaGold has the right to reduce such royalty from 2% to 1% at any time by paying to Diagnos $1,000,000 in cash.
Founded in 1998, DIAGNOS is a publicly traded Canadian corporation (TSX VENTURE:ADK), with a mission to commercialize technologies combining contextual imaging and traditional data mining thereby improving decision making processes. DIAGNOS offers products, services, and solutions to clients in a variety of fields including healthcare, natural resources, and entertainment.
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 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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