VAL D'OR, CANADA--(Marketwire - Aug. 8, 2012) - Active Growth Capital Inc. (TSX VENTURE:ACK)
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES
-- 185 chosen grab samples collected
-- Assays of gold and base metals
-- Mineralization occurs in several areas of the property
ACTIVE GROWTH CAPITAL INC. (TSX VENTURE:ACK) (the "Corporation") (www.activegrowthcapital.com) is pleased to report the preliminary results of its 2012 summer work program on its Currie Madeleine Property (the "Property") consisting of 88 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.
The exploration work campaign was divided in two phase, the first phase took place for 17 days and was focused on prospecting the Diagnos "CARD" target and priority sector. The Property was about 50% prospected, maped and sampled by past exploration company. The Corporation collected 185 chosen grab sample and realized 46 metres of trenching. All samples were sent to the LAB for analysis. Showing Roger's (Sample #698772) returned 0.067 ppm AU, 0,66% Cu and 0.98% ZN. This encouraging showing was further tested during the phase II. Many other chosen sample returned with anomaly value at different location on the Property.
During Phase II of the campaign, the team focused toward the northern part of the Property which is located 1km from the Rose Gold Mine, which produced 5,374 tons of ore and about 3,400 ounces of gold (21.8g/t) in the 1930's and to complete some trenching and target sampling around the Roger's showing that previously returned anomaly value. The Roger's showing was revisited in Phase II and resampled. The second sample, a couple of meters further, gave 0.88% Zn and 0.1% Cu. 5.5m of channel was cut and sampled also, results are pending. This area is situated at the west end of the VLF conductor.
In the northern section, the geologist and prospector team visited the past producing Rose Gold mine in order to study and visualise the geological environment and search for similar context. They were able to identify on the northern section of the Property a network of Quartz vein from wich the principal vein was visible at many different surface locations at about 270m and varied from 1 to 3 metre wide. A brechiated vein located South West returned a 2.32 g/t AU and another in North West gave 1g/t.
"The preliminary results from work completed on the Currie Madeleine Property continues to demonstrate the region has great potential" states Active Growth's President and CEO Martin Tremblay.
The Corporation awaits final results from the Roger's showing and the chosen grab samples located on the new quartz vein section as well as some taken at specific locations on the Property. They will be announced to the market when they are available. The Diagnos target located in the center of the Property were prospected at surface but no visible rock was found. The Corporation is currently evaluating the possibility to complete a geophysical survey in order to define a possible drilling target
With those encouraging results on the Rose mine sector and Roger's showing, the Corporation geological team is currently organizing a Phase III that would focus on these new discoveries and the completion of the prospecting toward the southern part of the Property where Diagnos' CARD generated a primary Gold target.
The technical information in this news release was approved by Mr. Roger Ouellet, M. Sc. P. Geo, a Consultant to the Corporation, and a Qualified Person under NI 43-101 regulations.
About Active Growth Capital
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 Corporation is available on SEDAR at www.sedar.com.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release, including any information as to our strategy, projects, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance, may constitute forward-looking information (collectively "forward-looking information") within the meaning of Canadian securities laws. Forward-looking information may be identified by terminology such as "may", "will", "could", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "projects", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts and include, but are not limited to, resource estimates, capital and operating expenditures, economic conditions, availability of sufficient financing, receipt of approvals, satisfaction of closing conditions and any and all other timing, development, operational, financial, economic, legal, regulatory and/or political factors that may influence future events or conditions. Such forward-looking statements are based on a number of material factors and assumptions, including, but not limited to, access to capital markets and other sources of financing and associated cost of funds, final receipt of any required approvals, sufficient working capital for development and operations, access to adequate services and supplies, availability of markets for products, commodity prices, foreign currency exchange rates, interest rates, availability of a qualified work force, availability of manufacturing equipment, no material changes to the tax and regulatory regime, the ultimate ability to execute business plans on economically favourable terms and those material factors and assumptions disclosed in other public filings of the Corporation.
While we consider these assumptions to be reasonable based on information currently available to us, they may prove to be incorrect. Actual results may vary from such forward-looking information for a variety of reasons, including but not limited to, risks and uncertainties disclosed in other public Active Growth Capital Inc. filings, changes in general economic, market and business conditions, competition for, among other things, capital and skilled personnel, and other unforeseen events or circumstances, that may cause the actual financial results, performance or achievements of the Corporation to be materially different from estimated future results, performance or achievements expressed or implied by the forward-looking statements. Copies of the Corporation's public filings under applicable Canadian securities laws are available at www.sedar.com. The Corporation further cautions that information contained on, or accessible through, this website is current only as of the date of filing such information and may be superseded by subsequent events or filings. Other than as required by law, Active Growth Capital Inc. does not intend, and undertakes no obligation, to update any forward looking information to reflect, among other things, new information or future events.
Although the Corporation believes many of its properties have promising potential, its properties are in the early stages of exploration. None have yet been shown to contain proven or probable mineral reserves. There can be no assurance that such reserves will be identified on any property, or that, if identified, any mineralization may be economically extracted.
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