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DIAGNOS Announces the Sale of 56 Mineral Claims in the Obalski Township Near the Town of Chibougamau to Copper One Inc.(February 23, 2012)
BROSSARD, QUEBEC, CANADA -- (Marketwire) -- 02/23/12 -- 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 the Obalski South & Obalski East Properties approximately 20 km to the south of the town of Chibougamau to Copper One Inc.
Using DIAGNOS' proprietary Computer Aided Resource Detection System (CARDS) researchers at DIAGNOS have identified several zones of potentially anomalous, copper concentrations on the Obalski South & Obalski East Properties of Abitibi, Quebec leading Diagnos to claim such properties. Specifically, CARDS highlighted three zones on the Obalski South claim block of significant copper mineralization potential, each host to multiple targets with a 95% probability of containing copper mineralization. On Obalski East, CARDS highlighted 4 zones of significant copper mineralization potential, each host to multiple targets with a 95% probability of containing copper mineralization. Mineralization on the Obalski properties appears to be of Porphyry Copper typology, although there is also evidence of Filonien style (Chibougamau type) copper vein mineralization as well.
The most significant historical results have been returned on drill hole # 11-490-19 - Copper mineralization begins immediately below the overburden at 23m depth and is continuous for 53m; the grade ranging between 1.5% and 0.21% and includes 0.90% Cu over 10.7m.
Under the terms of the Purchase Agreement, Copper One will acquire 100% of the Claims by paying to Diagnos $10,000 in cash, issuing to Diagnos 175,000 common shares of Copper One 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 Copper One 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: 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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