Active Growth Capital Acquires Properties in Northern Quebec
December 13 2011 - 2:07PM
Marketwired Canada
Active Growth Capital Inc. (the "Company") (TSX VENTURE:ACK) is pleased to
announce it has signed two option agreements with DIAGNOS Inc. ("DIAGNOS"),
whereas the Company will acquire, subject to TSX Venture Exchange approval, an
undivided 100% interest in the Currie-Madeleine and the Wachigabau projects.
In 2010, DIAGNOS performed an extensive regional analysis over 3685 km2 using
its proprietary Computer Aided Resource Detection System (CARDS) to target the
mineral potential of the Lebel-sur-Quevillon and Desmaraisville area. CARDS uses
pattern recognition algorithms to analyze digitally compiled exploration data
and identifies areas, target zones, with high statistical probability of
similarity to known areas of mineralization. During that study, 4950 drill holes
results and 6438 rock samples were computed to establish the preferred signature
of gold and copper mineralization in relation with the digital elevation model
and airborne magnetic and electromagnetic data. Currie-Madeleine and Wachigabau
projects were staked based on the most promising CARDS targets for gold and
copper in the area.
The Company is in the process of compiling all historical data available added
to the result of the CARDS analysis to build a comprehensive 3-D model of both
properties with the objective of defining precise targets to be drilled during
Spring 2012.
Currie-Madeleine Project
The property consists of 71 map designated claims in the NTS map sheet 32F/07
located 3km East of the North American Palladium projects Flordin and Discovery
and 1km West of the former Rose lake mine. Three distinct lithologies are
present on the property: 1) andesitic and basaltic volcanic rocks in the
southern section of the property, 2) Taibi Group sediments in the upper-center
section of the property, and 3) basalts with plagioclase phenocrysts in the
northern section of the property.
In order for ACTIVE GROWTH to acquire an undivided 100% interest in the
Currie-Madeleine project, it must (i) issue to DIAGNOS 566,666 common shares;
and (ii) spend an aggregate of $350,000 on exploration within two years of
signing the option agreement.
Wachigabau Project
The Wachigabau Lake property consists of 33 map designated claims located 40 km
east of Desmaraisville and 60 km southwest of Chapais within NTS map sheet
32G/12. The project lies within the southern band (Caopatina Segment) of the
Chibougamau-Matagami archean greenstone belt. The Caopatina Segment is a
volcano-sedimentary rock assemblage composed of two principal formations: the
Obatogamau formation, a vast plain of tholeiitic basalts with a few mafic to
felsic volcanic centers, and the Caopatina formation, an overlying sedimentary
sequence.
In order for Active Growth Capital Inc. to acquire an undivided 100% interest in
the Wachigabau project, it must (i) issue to DIAGNOS 233,333 common shares; and
(ii) spend an aggregate of $350,000 on exploration within two years of signing
the option agreement.
Both projects are subject to a 2% royalty of the net smelter return with 1% that
can be bought back for $1,000,000.
All securities issued pursuant to the option agreements will be subject to four
months and one day hold period.
Qualified person
The scientific and technical information in this news release has been reviewed
and approved by Mr. Eric Desaulniers, MSc, a certified professional geologist
(OGQ #935) and a qualified person as defined by National Instrument 43-101.
We seek Safe Harbor.
About Active Growth Capital Inc.
Active Growth Capital Inc. is a TSX Venture Exchange listed junior mineral
exploration issuer whose long-term objective is to build a diversified company
focused on the acquisition, exploration and development of mineral properties.
Additional information about the Company is available on SEDAR at www.sedar.com.
Statements made in this news release that relate to future plans, events or
performances are forward-looking statements. Any statement in this news release
containing words such as "believes", "plans", "expects" or "intends" and other
statements that are not historical facts are forward-looking, and these
statements involve risks and uncertainties and are based on current
expectations. Consequently, actual results could differ materially from the
expectations expressed in these forward-looking statements.
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