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Gold/Mining/Energy : St. Jude Resources......V.SJD -- Ignore unavailable to you. Want to Upgrade?

To: Bruce A. Anderson who wrote (2944)	2/6/2002 10:27:25 PM
From: AH	Read Replies (1) \| Respond to of 3065

St. Jude receives phase I results from South Benso St Jude Resources Ltd SJD Shares issued 14,696,188 Feb 6 close $0.26 Wed 6 Feb 2002 News Release Mr. Michael Terrell reports SOUTH BENSO CONCESSION UPDATE St. Jude has provided following significant results from the first phase drill program on the South Benso property in Ghana, West Africa. This drill program was focused on the Subriso East and Subriso West targets, and was designed to expand on the geochemical, geophysical, trench and drill data previously collected by Fairstar Explorations Inc. Subriso West target Hole Drill Co- Azi Dip Inter- g/t No. type ordinate val(m) Au SJB-1 RC* 803N/1217W 40 -45 71-80 3.70 SJB-2 RC 837N/1253W 40 -45 24-26 1.92 " RC 38-42 1.14 " DD** 71-76 1.68 " DD 87-94 1.55 SJB-3 DD 771N/1179W 40 -45 62-65 2.43 " DD 76-85 2.77 SJB-7 RC 744N/1142W 40 -45 23-37 10.29 " RC 44-49 3.37 SJB-8 DD 698N/1122W 40 -45 27-35 4.90 SJB-12 RC 829N/1194W 40 -45 0-4 4.06 " RC 31-67 7.16 SJB-13 RC 862N/1229W 40 -45 0-3 8.95 " RC 24-34 2.09 " RC 44-48 1.80 " RC 74-79 10.83 SJB-14 RC 796N/1155W 40 -45 4-36 7.48 SJB-15 DD 829N/1190W 40 -45 26-57 4.53 SJB-16 DD 865N/ 1152W 220 -65 42-61 5.51 " DD 70-73 6.03 SJB-17 DD 803N/1215W 40 -45 69-85 1.49 " DD 96-104 2.48 SJB-18 DD 780N/ 1100W 220 -45 21-40 2.78 * reverse circulation ** diamond drill Azi = Azimuth Geological data from the Subriso West target indicate the presence of a mineralized body striking approximately northwest with a near vertical dip ranging from 80 degrees west to 80 degrees east. Subriso East target Hole Drill Co- Azi Dip Inter- g/t No. type ordinate val(m) Au SJB-5 RC/DD 1159N/ 511E 90 -45 80-87 1.35 " DD 94-105 2.13 SJB-6 DD 1279N/ 552E 90 -45 55-64 15.96 SJB-11 RC 1333N/ 527E 90 -45 59-76 2.94 * reverse circulation ** diamond drill Azi = Azimuth Results to date suggest that the Subriso East target hosts a well-mineralized body striking generally in a north-south direction and dipping to the west at approximately 60 degrees. All drill results are being evaluated by geological staff for follow-up exploration. Assaying of drill samples was conducted and reported by Transworld Laboratories (Austria) with checks by SGS Laboratories (Belgium), both from their facilities in Ghana. As per the table above, some of the reverse circulation drill results were verified by diamond drilling. Variances are within acceptable limits. St. Jude is presently conducting a detailed geochemical soil sampling survey on the South Benso project to establish new exploration and drill targets. Follow-up drilling has commenced at both the Subriso East and Subriso West targets. St. Jude and Fairstar have amended their agreement with respect to the South Benso concession in order to allow the original licensee to convert its 7.5-per-cent net profits interest to a 7.5-per-cent shareholding interest in the Ghanaian joint venture company. Accordingly, St. Jude now has the right to earn up to an unencumbered 60.125-per-cent interest in the South Benso property by advancing the project to the feasibility report stage. St. Jude is presently working with Fairstar to finalize the transfer of the property to the new joint venture company. As previously reported, the South Benso concession is contiguous to and directly north of St. Jude's Hwini-Butre property. Together these two concessions incorporate approximately 30 contiguous kilometres of the prevailing strike of the prolific Ashanti gold belt. (c) Copyright 2002 Canjex Publishing Ltd. stockwatch.com