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Fri, December 19, 2008
Thu, December 18, 2008
Diagnos Inc.: DIAGNOS Announces the Optioning of Four Properties in the Gaspesie Area to Colt Resources Inc.: Option and Servic
BROSSARD, QUEBEC, CANADA--(Marketwire - Dec. 18, 2008) - DIAGNOS inc. ("DIAGNOS" or the "Corporation") (TSX VENTURE:ADK), a leader in the use of artificial intelligence ("AI") and advanced knowledge extraction techniques is pleased to announce the optioning of four properties, totaling 153 km2, in the Gaspesie area of Quebec, to Colt Resources Inc.: these include the Restigouche, West l'Alverne, Gaspesie-1 and Gaspesie-4 properties. These properties were staked by DIAGNOS after review and target generation from a large data set acquired from the Quebec government covering over 20,000 km2.
Colt Resources Inc. (COLT) has the exclusive option to earn a 100% interest in these four properties by paying DIAGNOS the sum of $250,000 by March 27, 2009: $62,500 paid in cash and 750,000 COLT restricted common shares at a price of $0.25 each. DIAGNOS will retain a 2% Net Smelter Return (NSR) royalty on each property. COLT will have the option to buy back 1% of the NSR for $1,000,000 any time within the first five years of an economic discovery. COLT undertakes to spend a minimum of $450,000 on exploration and drilling on the properties in the first 2 years, and will be outsourcing exploration work to DIAGNOS.
DIAGNOS used its proprietary Computer Aided Resource Detection System (CARDS), a state of the art computer system, to conduct a regional study of the Gaspesie region and identify areas (targets) with a high statistical probability of similarity to known areas of mineralization. DIAGNOS' regional study incorporated over 4 million data points corresponding to geochemical, geological, and geophysical data covering 27 NTS map sheets. Data included regional magnetic surveys and derivative phases, gravity surveys, topographic data, and a very large database of over 91,000 stream sediments with results for some 22 elements including arsenic, copper, gold, lead, and zinc.
The optioned properties are located in the southwestern part of the Gaspesie region, close to St-Andre-de-Restigouche. The sector presents CARDS targets, stream sediment anomalies, and mineral showings of interest, of both copper and gold. These properties total 267 claims, including the previous claims held by DIAGNOS in the region. The four properties are located at the junction of two formations and in a structural environment favourable to gold and base metal mineralization. The claims are in proximity to major NE trending faults, parallel to or prolongations of the Grand Pabos-Restigouche fault system.
DIAGNOS can count on a multidisciplinary team that includes professionals in geophysics, geology, Artificial Intelligence, mathematics, as well as remote sensing and image interpretation. The Corporation's objective is to develop a royalty stream by significantly enhancing and participating in the exploration success rate of mining and oil and gas companies. For further information, please visit our Website at [ www.diagnos.com ].
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
