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GIR Lamelee Iron Ore Ltd.

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Share Name Share Symbol Market Type
Lamelee Iron Ore Ltd. TSXV:GIR TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Gimus Announces the Start of a Field Exploration Program on the Bouchard Base Metals Property, Chibougamau (Quebec)

02/11/2012 11:25am

Marketwired Canada


NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO US
NEWSWIRE SERVICES. 


Gimus Resources Inc. (TSX VENTURE:GIR) ("Gimus" or the "Company") is pleased to
announce the start of a field exploration program (the "Program") on the
Company's wholly owned Bouchard Base Metals Property (the "Property"), located
50 km southeast of the Chibougamau-Chapais Airport near the town of Chibougamau
(Quebec). 


The program will consist of early-stage geological mapping and sampling, a 850
line-kilometers 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 meters 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 

Some 18 massive sulphides 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 totaling 2,695 hectares or 27 km2,
covering a series of massive sulphide lenses. 


In 2004, the Ministere des ressources naturelles et de la faune Quebec (the
"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 8 km 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 ("Au-VMS") similar to the Au-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 % Zinc, 0.19 % Copper, 0.22 % Lead
and 1.6 g/t 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
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. 


About Gimus Resources Inc. 

Gimus is a mineral exploration company the common shares of which are listed for
trading on the TSX Venture Exchange under the symbol "GIR". Gimus currently has
13,104,000 common shares outstanding and has reserved for issuance 750,000
additional common shares pursuant to stock options and 226,320 common shares
pursuant to warrants and compensation options. 


Quality Control and Assurance: 

Jean Lafleur P. Geo., 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. 


Statements in this press release contain forward-looking information within the
meaning of applicable securities law. Forward-looking information is frequently
characterized by words such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate" and other similar words, or statements that certain
events or conditions "may" or "will" occur. Readers are cautioned that
assumptions used in the preparation of forward-looking information may prove to
be incorrect. Although we believe that the expectations reflected in the
forward-looking information are reasonable, there can be no assurance that such
expectations will prove to be correct. We cannot guarantee future results, level
of activity, performance or achievements. Consequently, there is no
representation that the actual results achieved will be the same, in whole or in
part, as those set out in the forward-looking information. Readers are cautioned
not to place undue reliance on forward-looking information.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Guy Girard
President and Chief Executive Officer
(514) 798-1290
ggirard@explologik.com

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