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Val D'Or, QC J9P 1T1
VAL D'OR, QUEBEC--(Marketwired - Feb. 26, 2015) - Active Growth Capital Inc. (TSX VENTURE:ACK) ("ACK" or the "Corporation") is pleased to disclose historical resources on the recently acquired Portage-du-Fort Dolomite/Magnesium property (the "Property"), located in the Province of Québec, following the completion of a preliminary compilation of historical data.
All resource estimates quoted herein are based on prior data and reports obtained and prepared by previous operators, including GENIVAR Inc., now WSP Canada Inc. ("WSP"), July 2014 Technical Report on the Property, and information provided by the State. The Corporation has not completed the work necessary to verify the classification of the mineral resource estimates. The Corporation is not treating the mineral resource estimates as NI 43-101 defined resources verified by a qualified person. The historical estimates should not be relied upon. These properties will require considerable further evaluation which ACK's management and consultants intend to carry out in due course.
Portage-du-Fort Dolomite/Magnesium Property
The Property is located some 75 km northwest of the city of Ottawa in the southwest corner of the Outaouais region in the Province of Québec, Canada, in proximity to the Québec-Ontario border. The Property is situated just at 1.5 km northeast of the village of Portage-du-Fort, which lies on the eastern shore of the Ottawa River and is easily accessed via paved and secondary gravel roads. (see Figure 1 & 2)
The Property lies within the Mesoproterozoic Central Metasedimentary Belt of the western Grenville Province, which extends southward from western Québec to Ontario. The Property is largely underlain by marble units of the Portage-du-Fort Group and, to a lesser extent, by quartzite and grey gneiss units of the Bryson Group. Locally, white dolomitic marble units of the Portage-du-Fort Group display high purity: these contain few visible impurities, show high MgO content, and low SiO2 and Fe2O3 content.
The Portage-du-Fort area has a long history of dolomite production dating back to the 1860's. (see Figure 3)
Portage-du-Fort Property claims, claims under application, and outlines of quarries Carrière Portage-du-Fort (Ancien gisement) and Carrière Portage-du-Fort (Dolomex), as well as MERQ geochemical anomaly are also indicated. Geology base map from Brun (ET 83-03)
Marble Surface Sample Composition
Brun (ET 83-03) presents geochemical analyses (see Table 1) from three samples collected from the Carrière Portage-du-Fort (Ancien gisement). The analyses indicate these are high purity magnesian dolomitic marbles: high in magnesium carbonate (> 43% MgCO3) content and very low in silica, iron and alumina.
Table 1 - Geochemical analyses for samples from Carrière Portage-du-Fort (Ancien gisement). (Source: ET 83-03, p. 20)
The MERQ conducted a litho geochemical study of surface samples collected during regional mapping of the Portage-du-Fort area from 1977 to 1979. Major element and selected trace element analyses of collected samples are presented in the report by Brun (ET 83-03).
The MERQ collected and sent for analysis over 396 surface samples, 65% of which were marble samples (ET 83-03). Results of major element analyses of these samples delineated a strong surface geochemical anomaly defined by very pure dolomitic marbles with an average value of 30.92% CaO, 21.04% MgO, and very low 0.61% SiO2 (see Table 2) (ET 83-03).
Table 2 - Summary of major element, sulfur, and LOI analyses of surface marble samples that generated the geochemical anomaly delineated by the MERQ. (Source: ET 83-03, p. 17)
|Oxides||Min. %||Max. %||Avg. %*|
|* weight percent, n=15|
The MERQ drill program also targeted high purity magnesian dolomite marble observed at surface. Of six holes drilled, only holes 2, 3, 5 and 6 had sections of interest. A summary of results for SiO2, CaO and MgO analyses is shown in Table 3. Holes 5 and 6 show the best results with several wide dolomitic intervals with SiO2 ≤ 1% and MgO > 21%. The Dolomex Quarry is located southwest and along trend of the dolomitic sections in hole 5.
Table 3 - Summary of results for SiO2, CaO and MgO analyses for Holes 2, 3, 5 and 6 drilled by the MERQ. (Source: ET 83-03)
|avg. SiO2 %||avg. CaO %||avg. MgO %|
|2||201.2||10.2 ‐ 21.8 m||10.2||21.8||11.6||0.40||30.20||21.30|
|3||201.3||139.3 ‐ 155.3 m||139.3||153.3||14.0||0.37||30.10||21.00|
|5||204.8||3 ‐ 204.8 m||3.0||23.5||20.5||0.96||29.90||21.30|
|6||205.1||1 ‐ 205.1 m||57.4||65.6||8.2||0.39||30.40||21.60|
|avg. X % ‐average weight %|
The Portage-du-Fort area has high purity magnesian dolomitic marble previous production history.
A historical resource estimate of the dolomite deposit at the Dolomex Quarry is reported to indicate 22 million tons grading 30.30% CaO, 21.60% MgO, and 0.76% SiO2. If material containing up to 1.5% SiO2 is included, tonnage increases to 45 million tons. Iron content is low, on average < 0.15% Fe2O3T. This resource estimate is historical in nature and does not meet the requirements for resource categorization as set out in NI 43-101. A Qualified Person has not done sufficient work to classify this historical estimate as current mineral resources or mineral reserves. WSP did not treat these historical estimates as current mineral resources or mineral reserves. These results should not be relied upon. However, these historical results provide an indication of the potential of the Property area and are relevant to ongoing evaluation and exploration.
Under various companies, the Dolomex Quarry operated from 1991 to 2004. Annual dolomite production ranged from about 25,000 tons in 1992 to attain close to 100,000 tons in 2002. In the early 1990's production was mainly destined for glass manufacturing and to a lesser extent for agricultural purposes. By 2002, the operation produced various dolomite products used to manufacture plate glass, floor tiles, roofing powder, polishing powder, line powder, filtration sand, decorative stone, and agricultural and horticultural fertilizers.
The Dolomex Quarry dolomitic marble deposit is located largely within pending claims 2293458 and 2293460, which adjoin the Portage-du-Fort Dolomite Property to the west. The western edge of these pending claims cover part of the urban area of the village of Portage-du-Fort and Mining restriction 29194, therefore the pending claims have not been issued by the MRNF, but will remain under application. Mining restriction number 29194 prevents the issuance of and prohibits exploration within these pending claims. In accordance with Section 91 of proposed Bill 14, and until such time Bill 14 is settled, the MRNF will refrain from issuing claims requested within urbanization perimeters, but will keep the requests as received. Access to the Dolomex Quarry dolomitic marble deposit remains to be determined.
Rock units containing the high purity dolomitic marble at the Dolomex Quarry deposit extend northeast into the Portage-du-Fort Property and further east of the Property. These rock units also extend west across the Ottawa River into Ontario. In Ontario, high purity dolomitic marble was quarried 7.9 km west of Portage-du-Fort. From 1942 to 2008, this marble was quarried for the production of high purity metal and alloyed magnesium for specialized markets.
The Portage-du-Fort area and surrounding region show potential for additional resources of high purity dolomitic marble and merit further evaluation and exploration.
"The white, high purity dolomitic marble at Portage-du-Fort is one of the purest, if not the purest, currently available in the Province of Québec. Previous marketing studies have indicated various potential industrial uses for this high purity dolomitic marble, but emphasized its potential use in the production of magnesium metal. With all these exciting newly acquired information, ACK is underway to realize a detailed data compilation of the property, and contemplates the realization of a drill campaign to create a NI 43-101 resource estimate over the next months", stated Marc Labrecque, the Corporation's CEO and President.
Nabil Tarbouche, P.Geo., a consultant to the Corporation and a Qualified Person as defined by NI 43-101, has reviewed and approved the technical information contained in this news release.
About Active Growth Capital
Active Growth is a TSX 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.
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 of this release.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. Forward-looking statements include words or expressions such as "believes", "intends", "anticipates", "committed", "evolve", "become", "pursuing", "growth", "opportunities", "plans" and other similar words or expressions. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include the ability of the data supporting the Property's historical resources to meet industry standards, the ability to execute on our strategic focus, fluctuation in the price of currencies, precious metals or operating costs, mining industry risks, uncertainty as to calculation of mineral reserves and resources, delays, and other risks described in ACK's documents filed with Canadian securities regulatory authorities. You can find further information with respect to these and other risks in ACK's filings made with Canadian securities regulatory authorities and available at www.sedar.com. ACK disclaims any obligation to update or revise these forward-looking statements, except as required by applicable law.
Figures 1, 2, and 3 are available at the following address: http://media3.marketwire.com/docs/993971_Figures1_2_3.pdf