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

To: GWalker who wrote (1965)	4/18/1998 3:58:00 PM
From: william bell	Read Replies (1) \| Respond to of 2378

Taken from the Stockhouse forum: REVIEW OF STARPOINT GOLDFIELDS INC. WHICH APPEARED IN The Professional Trader Newsletter, April, 1998 "ONE OF THE FIRST TO ACQUIRE SIGNIFICANT GOLD, DIAMOND AND TANTALITE PROPERTIES IN THE RICHLY MINERALIZED UPPER CONGO Starpoint Goldfields Inc. (trading symbol STS on the Vancouver Stock Exchange) headed by a proficient management team with a proven track record of acquiring valuable mineral concessions was one of the first companies to acquire significant gold, diamond, and tantalite properties in the mineral rich new Democratic Republic of Congo. These properties have had a long history of gold mining. These are the Ngayu-West, Tele, Panga, and the SK 16 located in Archean greenstone belts of the Upper Congo. Samples collected from the Mambati target zone on the Ngayu-West Concession are now headed to the assay labs with results expected in approximately three weeks. Geologist, Gordon Richards, P.Eng., just returned from the field and stated that there are some 800 - 1,000 local miners at present mining high grade gold on the property around the clock, with the gold being bought by gold brokers on site. The Company has recovered one of these high grade samples with significant visible gold. What is equally interesting is that diamonds are also being mined on the concession and sold in the nearby village of Mambati. Starpoint's focus has been on an aggressive acquisition program of advanced properties that have a history of gold and diamonds. With key contacts in Uganda, and the Democratic Republic of Congo, the Company successfully negotiated and acquired in excess of 15,000 sq.km. in a highly mineralized area of the Congo, in spite of intense competition from major international mining companies. On July 24, 1997 the Minister of Mines, the Hon. Kambale Kabila Mututulo of the Democratic Republic of Congo awarded Starpoint Goldfields three of these rich gold and diamond concessions. They are identified as the "Tele", "Panga", and the "Ngayu-West". The Company signed agreements with the Government on these properties on August 23, 1997. An agreement was also signed on this date for a 4,000 sq.km. tantalite concession, the "SK 16". Tantalite is a strategic metal and is used in aerospace and nuclear technology. These four concessions place Starpoint in a very highly mineralized area of the Congo with a long history of gold mining. Over 360,000 ounces of gold was mined from these concessions by a Belgian mining company prior to 1960 but ceased when the Belgian Congo was granted independence. Reports of high grade gold on these properties are common and artisanal miners continue to work the area. The Company has retained two regional geologists to collect and advise the Company on all rel4evant data from original work carried out on these concessions and together with the independent Canadian geologist have just completed a sampling program. Once assays have been received the team intends to return and conduct an extensive work program and prepare drill targets. These concessions are just to the west of where Barrick Gold is beginning an extensive exploration program. Other companies that have begun extensive exploration programs in the Congo include De Beers, Ashanti Gold, American Mineral Fields, Anglo American, Tenke and Banro. The mineral rich Congo is definitely attracting some serious interest from some of the major mining companies. From mining records and data available from the Royal Museum of Central Africa in Belgium and the BRGM in France, and information obtained from local and government geologists, Starpoint believes these concessions have the potential to become major gold properties. Gordon Richards, P.Eng. in his report states that the Kanwa-Sese, and the Mambati targets in the Ngayu-West Concession have the "potential for several million ounces of gold reserves". This company became a favorite of mine about a year ago. They have excellent management and are only interested in acquisitions of very advanced properties. Of properties that they have been involved with, two are currently being put into production. Harry Bristman, M.B.A. is Starpoint's Chairman and C.E.O., and as President of Banff Resources was instrumental in acquiring the highly successful Kilembe Copper/Cobalt Property in Uganda which greatly enhanced shareholder value. Rick Ilott, B.Comm.,. Starpoint's President, also served as director in that highly successful venture, and together they plan to repeat this success now with Starpoint Goldfields Inc."