Gimus to drill 2,000 m at Bouchard 2012-11-02 08:06 ET - News Release
Mr. Guy Girard reports
GIMUS ANNOUNCES THE START OF A FIELD EXPLORATION PROGRAM ON THE BOUCHARD BASE METALS PROPERTY, CHIBOUGAMAU (QUEBEC)
Gimus Resources Inc. has started a field exploration program on its wholly owned Bouchard base metals property, located 50 kilometres southeast of the Chibougamau-Chapais Airport, near the town of Chibougamau, Que.
The program will consist of early-stage geological mapping and sampling, an 850-line-kilometre detailed and high-resolution airborne magnetic and time-domain electromagnetic survey, prospecting of known and new base metals showings, outcrop stripping and trenching, and 2,000 metres of diamond drilling on the most prospective occurrences to test continuity, grade and size potential. The program is expected to be completed by year-end.
The Bouchard Brothers base metals property
About 18 massive sulphide occurrences were previously identified in the northern segment of the region; however, new occurrences were found by local prospectors. Gimus and the prospectors staked 48 claims totalling 2,695 hectares or 27 square kilometres covering a series of massive sulphide lenses.
In 2004, the Ministere des ressources naturelles et de la faune Quebec (MNRFQ) completed a field mapping program in the area. In report RP2006-02, the MRNFQ described numerous sulphide occurrences within the volcano-sedimentary sequences near Djebel Lake, situated eight kilometres north of the property.
The main sulphide occurrence was termed the BDL showing and was accompanied by kilometric-long folded alteration and iron formation units accompanied by semi-massive and massive pyrite-pyrrhotite-chalcopyrite mineralization, suggesting at the time a potential for gold-bearing volcanogenic massive sulphides (VMS) similar to the gold-VMS systems in the Abitibi greenstone belt hosting the Noranda and Matagami mining camps. Surface outcrop grab samples taken from the BDL showing yielded up to 0.83 per cent zinc, 0.19 per cent copper, 0.22 per cent lead and 1.6 grams per tonne silver. Other sulphide occurrences in proximity gave up to 0.46 g/t gold. These sulphides are linked to strong regional magnetic and electromagnetic signatures.
Property and project evaluations
Considering the recent developments in the uranium sector in Quebec, the company has decided to postpone any additional exploration work on its Baie Johann-Beetz property.
During the year, the company has evaluated different mineral exploration projects, including in the iron ore sector, none of which were deemed of sufficient interest to warrant further action in the circumstances. The company is, however, presently reviewing advanced projects with the hope of entering into a significant transaction in the coming months.
Quality control and assurance:
Jean Lafleur, PGeo, is the qualified person, as defined by National Instrument 43-101, who has read and approved the technical and scientific information in this news release.
We seek Safe