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Gold/Mining/Energy : St. Jude Resources......V.SJD
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To: Edward M. Zettlemoyer who wrote (2940)5/29/2001 11:37:20 PM
From: AH  Read Replies (1) of 3065
 
St. Jude resolves legal dispute over Hwini-Butre

St. Jude Resources Ltd SJD
Shares issued 14,696,188 May 28 close $0.34
Tue 29 May 2001 News Release
Mr. Michael Terrell reports
St. Jude Resources has released the following information relating to the
Hwini-Butre mineral concession located in Ghana, West Africa.
All permits are in order and the company has stepped up exploration
activity on the property. An independent geological firm has been retained
to evaluate results in the south (the Adoikrom, Father Brown and the
Dabokrom deposits) for advancement of that sector to the mining permit
stage. The company has also embarked on a drill program in the northern
areas of the property to assess already identified targets. These prospects
include: the Breminsu target -- where trench sampling averaged 2.91 grams
per tonne over 17 metres and three chip samples from quartz veins in a
nearby shaft assayed out at 7.8 g/t Au, 688.0 g/t Au and 277.0 g/t Au; the
Apatunso target -- where trench sampling results include 2.5 g/t Au over 30
metres and 4.0 g/t Au over 16 metres; and the Abada target -- where
trenching results include 1.2 g/t Au over 32 metres, 2.3 g/t Au over eight
metres and 3.3 g/t Au over 34 metres.
In 1995 St. Jude Resources acquired its interest in the Hwini-Butre project
from Hwini-Butre Minerals Ltd. (HBM). A former licenceholder of the
concession, B.D. Goldfields of Ghana (BDG), had launched a number of
unsubstantiated legal claims in an attempt to attack the 1993 transfer
through which HBM acquired the property. HBM has defended against those
suits and, as a result, all claims have either been dismissed or
discontinued. At present, the only litigation regarding the property is an
application by HBM itself for a declaration confirming the 1993 transfer
and to ensure that BDG is barred from bringing any future vexatious claims
to impede the development of the project.
(c) Copyright 2001 Canjex Publishing Ltd. stockwatch.com
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