Judy wakes up big time today:
Talk : Gold/Mining : St. Jude Resources......V.SJD
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To: Danny Grant (1737 )
From: David R. Schaller Thursday, May 21 1998 7:15PM ET
Reply # of 1768
Danny, Do you like the term "Bonanza Grade" as much as I do?
VSE SYMBOL: SJD
MAY 21, 1998
St. Jude Resources Mining Update
VANCOUVER, BRITISH COLUMBIA--The Company is pleased to announce an
exciting development from the drill program on the Hwini-Butre
Concession in Ghana, West Africa. As announced in the Company's
last news release, high grade grab samples were recently
discovered in the Dabokrom and follow-up exploration work was
undertaken in the area historically referred to as the Father
Brown zone.
The topography in the Father Brown zone has been radically altered
by decades of native mining activity. This factor restricted
preliminary surface work. It was locally rumored, however, that
the area was once the site of exploration shafts intersecting a
thick reef and high grade gold values. An exploratory drill hole,
angled at 45 degrees, was collared in the area. The results of
this drilling were determined to be immediately significant and
are reported below.
/T/
Coordinates Interval Assay Results
3420N - 2860E 24m 10.23 g/t Au
/T/
This intersection includes 38.08 g/t over 6 meters, and that high
grade portion contains notable amounts of visible gold. In order
to determine the significance and continuity of this high grade
mineralization, a fence of four new drill holes has been
initiated. These new holes are designed to intersect the
projected down dip extension of the zone below the first drill
hole.
The Father Brown zone appears to be dipping at approximately 45
degrees to 50 degrees to the west. In that respect it is similar
to the Adoikrom deposit approximately 400 meters to the northwest.
Based on the limited information gathered to date, the
mineralization in the Father Brown zone seems to be structurally
controlled. The intersection of bonanza grade mineralization is
associated with quartz veining and severe alteration which is
consistent with a major north / south fault structure.
Due to the significance of this discovery, the company is fast
tracking the drilling and assaying of these new holes. The Father
Brown zone is a high priority exploration target for St. Jude
Resources, and further drill results and interpretation are
expected in the near future.
ST. JUDE RESOURCES LTD.
PER:
MICHAEL A. TERRELL, PRESIDENT
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
St. Jude Resources Ltd.
Michael A. Terrell
President
(604) 940-6565
(604) 940-6566 (FAX)
The Vancouver Stock Exchange has neither approved nor disapproved
the information contained in this News Release.
----------------------------------------------------------------------
Maybe they got those options repriced..just in time.
Regards, Dave
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