2016.07.27
Majescor and Eastmain Resources have mobilized teams to start its prospecting program on Diagnos gold targets in the former Eastmain mine area (James Bay)
Brossard, Quebec, Canada - July 27, 2016 - DIAGNOS Inc. ("DIAGNOS" or the "Corporation") (TSX Venture: ADK), a leader in the use of knowledge extraction and artificial intelligence ("IA") tools, announced today a prospecting program on a number of high priority gold targets beside the Eastmain former gold mine and several gold targets directly in the north of the new kimberlites discoveries as announced by Stornoway on May 5, 2016, on their Adamantin project.
Majescor Resources Inc. ("Majescor") (TSX-V:MJX) and Eastmain Resources Inc. ("Eastmain Resources") (TSX:ER) have mobilized a team to start its prospecting program to follow up high priority gold targets ( Figure 1- Majescor targets and Figure 2-Eastmain targets). The properties are located near the Route 167 extension, 320 kilometres north of Chibougamau.
The targets were identified by Diagnos Inc. who conducted a regional Computer Aided Resource Detection System ("CARDS") analysis in early 2016 in the former Eastmain mine area. The system uses pattern recognition algorithms to analyze compiled digital exploration data and to identify areas with similar geological signatures to known areas of gold mineralization. The new claims are located near Route 167 extension, 320 km N of Chibougamau. They are within the favorable Opinaca metasedimentary Subprovince, which has numerous gold mines, deposits and occurrences, including Goldcorp's Eleonore Gold Mine (8+M oz Au, in production), Eastmain Resources' Clearwater gold deposit (0.95M oz Au, at feasibility) and the Eastmain (Resources) Gold Mine (0.25M oz Au, open at depth and along strike). The region is very active, and considered one of the most favorable for new gold discoveries in Canada.
In September 2015, Majescor announced that it had acquired 172 claims using DIAGNOS' property Computer Aided Resource Detection System (CARDS) to target the gold potential in the James Bay area of Quebec. The CARDS system analyzed exploration data compilation, and identified areas (targets) using geophysical and geological and signatures similar to areas of known mineralization. The Eastmain database modelling included: 1) levelled and merged airborne magnetic surveys of the James Bay area; 2) topography; and 3) over 800 historical compiled assays (356 with Au = 1 g/t Au) from Quebec government-registered drill hole assays and surface samples database (Sigeom, MRN). Based on CARDS analysis and interpretation of known lithology and structural geology in the region, over 12 high priority gold targets have been identified and staked by Majescor.
Under the terms of purchase and sale agreement with DIAGNOS, Majescor issued 1,400,000 common shares,
$30,000 in cash and a 2% royalty on the net return of the smelting revenues associated with the minerals and concentrates to be extracted from the concessions identified by DIAGNOS. The purchase agreement stipulates that Majescor may, at any time, reduce the royalty from 2% to 1% by paying DIAGNOS $1,000,000 in cash.
For the gold targets and services, Eastmain Resources paid $25,000 to DIAGNOS, no NSR. The targets are located on claims already owned by Eastmain Resources.
About DIAGNOS
Founded in 1998, DIAGNOS is a Canadian corporation (TSX: ADK) that develops and commercializes technologies that combine contextual imaging and traditional data mining to improve decision-making processes. DIAGNOS' world-class products and services support clients in the healthcare (CARA) and natural resources (CARDS).
Forward-looking information
This document contains forward-looking information that involves risks and uncertainties, including without limitation, statements pertaining to the Private Placement and its use of proceeds. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in these statements. Unless required under law, DIAGNOS will not update this forward-looking information to reflect new events or circumstances
DIAGNOS has assembled a high level team of scientists with master degrees and PhDs in artificial intelligence, mathematics, imaging, geology and geophysics and a management team to support its customers in mining exploration.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact Michel Fontaine or visit our Website at www.diagnos.com.
Michel Fontaine, Vice-President, Mining division Tel.: 450 678-8882, ext. 222
[email protected]
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