|Page (1) of 1 - 12/13/11||email article||print page|
DIAGNOS Options its Currie and Lac Madeleine Projects in Lebel-sur-Quevillon Region to Active Growth Capital(December 13, 2011)
BROSSARD, QUEBEC, CANADA -- (Marketwire) -- 12/13/11 -- DIAGNOS inc. ("DIAGNOS" or the "Company") (TSX VENTURE:ADK), a leader in the use of knowledge discovery and advanced knowledge-extraction techniques, announces today that it has signed an agreement with Active Growth Capital Inc. (or "ACK"), a Canadian mining exploration company, giving it the option to acquire 100% of the interest in its Currie and Lac Madeleine projects located in the Lebel-sur-Quevillon region.
ACK will pay DIAGNOS the amount of CDN$85,000 for the option to the Currie and Lac Madeleine projects. To acquire 100% of the projects, ACK must spend CDN$100,000 on exploration in the first year and CDN$250,000 in the subsequent year. The projects were staked based on gold and copper targets produced by CARDS (Computer Aided Resources Detection System).
Moreover, in the event of an economic discovery on the property, a royalty (NSR) of 2% will be paid to DIAGNOS. ACK will be able to buy back 1% of that NSR for CDN$1,000,000 at any time within ten years starting on the date of the economic discovery.
DIAGNOS analyzed the Lebel-sur-Quevillon region using its CARDS technology. The exploration targets were generated using a compilation and updating of several geophysical surveys of the topography including 6,738 rock samples and more than 4,950 drill holes. This sector is very favorable because it sits 3 km to the east of the Flordin and Discovery project belonging to North American Palladium and 1 km west of the old Lac Rose mine.
Worth special mention is the fact that the gold targets generated by CARDS on the Currie and Lac Madeleine projects are based on the same internal work that led to the discovery of a new gold mineralized zone on the property of the Lac Bachelor Mine belonging to Ressources Metanor. The best results from the rock samples obtained on this property were 11.03 g/t, 11.05 g/t and 14.80 g/t as announced in the press release of November 2, 2010 by Metanor Resources.
Founded in 1998, DIAGNOS is a publicly traded Canadian corporation 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 relies on a multidisciplinary team of professionals in geology, artificial Intelligence, mathematics, as well as remote sensing and imaging. The Company's goal is to generate earnings from royalties by significantly increasing and participating in successful explorations for mining companies.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.
Copyright @ Marketwire
Related Keywords: DIAGNOS Inc. , Canada, Marketwire, Inc., , Copper, Gold, Geology, Mathematics, Computer Science, Entertainment,