MONTREAL, CANADA--(Marketwire - Dec. 13, 2011) - 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.
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.
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.
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.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.