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Gold/Mining/Energy : Starpoint Gold -- Ignore unavailable to you. Want to Upgrade?

To: saul mikaliukas who wrote (1798)	1/28/1998 4:39:00 PM
From: Bohdan	Read Replies (1) \| Respond to of 2378

Gold and diamond targets in Congo greenstone belts: financing increased Starpoint Goldfields Inc STS Shares issued 10,176,910 Jan 27 close $0.16 Wed 28 Jan 98 News Release Mr F.R. Ilott reports Data in the Exploration Targets on previous research has enabled identification of drill areas on five massive gold targets with several million oz potential on at least two properties. The data also indicates a strong potential for profitable diamond mining on these properties. The Mambati zone on the Ngayu West concession has 161 identified quartz vein occurrences in test pits grading up to 59.0, 67.5 and 72.5 g/t gold with numerous small beds of iron formation over a 7km length and 300m average width within an eluvial gold reserve. The zone of eluvial mining with quartz veins and iron formation is parallel to a thick iron formation to the north and could be reflecting underlying stratabound or shear zone controlled mineralization of several million oz of gold. The Babeyru-Marekesa zone produced approximately 4,000 kg of alluvial gold. Hundreds of veins are recorded for these areas with widths up to 280cm and grades ranging to 358 g/t from a 15 to 50cm wide vein. Average of 16 previous samples from this location along the vein was 63 g/t gold. The Kanwa-Sese zone on the Tele concession, defined by a zone of quartz veins, produced approximately 1,140 kg of alluvial and eluvial gold along mining pits 3km wide by 15km long and associated with structurally complicated iron formation and schists. Mineralization of several million oz of gold reserve is also possible within this zone. The company advises that the private placement announced in Stockwatch on November 4 1997 for 800,000 units ($120,000) has been increased to 1,233,333 units ($185,000). Each unit is priced at $0.15 and comprises one common share and one warrant exercisable to purchase one share at $0.15 in the first year and at $0.18 per share in the second year. The company has received subscription proceeds of $185,000 which have been applied to general working capital and towards exploration and research on the company's property in the Democratic Republic of Congo. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com