MONTREAL, CANADA -- (Marketwire) -- 06/07/12 -- Active Growth Capital. (the "Company") (TSX VENTURE: ACK) is pleased to announce it recently undertook exploration work on its wholly-owned Wachigabau and Currie-Madeleinele properties.
The first phase involves field reconnaissance, review of rocky outcrops as well as sampling. Particular attention will be focused on target areas identified by DIAGNOS. Several areas of interest for gold and base metals have been identified from previous work by the company DIAGNOS.
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 the 2012 fall.
The team working on the field is composed of 2 geologists and 4 prospectors and this first phase is expected to be completed within 15 days.
The Company has just received the first part of his exploration program report, which identified 7 anomaly zones of interest. 60 grab samples and around 40 meters of surface channel sample have already been submitted to ALS Chemex lab for analyses.
The Company plan to finish this first phase of its exploration program on Currie-Madelaine shortly and then will mobilise the Magnor exploration team at its Wachigabau property afterward.
The Company expects the final report of the first phase of its exploration program in early July and expects to receive its authorization work permits including surface scrapping and cleaning to complete work for 4 areas of interest during the second phase of its exploration program.
The property consists of 88 map designated claims in the NTS map sheet 32F/07 located 3km East of the North American Palladium projects Floridin 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) Volcanic and intrusive rocks (basalts, andesite, Gabbro) with plagioclase phenocrysts in the northern section of the property.
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.
The scientific and technical information in this news release has been reviewed and approved by Mr. Roger Ouellet, BSc., P. Geo., the Company's Technical Consultant and a qualified person as defined by National Instrument 43-101.
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.
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 release. Statements in this release that are not historic facts are "forward-looking statements" and readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results, may vary materially from those in these "forward-looking statements.
President and CEO