Drills spin at St. Jude’s Subriso and Hwini-Butre

Vancouver — St. Jude Resources (SJD-V) has kicked off its fall drilling campaign at its Subriso and Hwini-Butre prospects in Ghana.

The drill program is designed to trace strike and dip extensions of known high grade mineralized zones at Subriso and Hwini-Butre. The company reports that it will focus attention to the more recently discovered Subriso Central zone, which has returned high grade values including 12 metres of 78.7 grams gold.

To date, St. Jude has completed over 16,000 metres of trenching and over 35,000 metres of drilling on these two adjacent concessions. An independent resource calculation by Watts, Griffis & McOuat has blocked out 936,000 oz. of gold on the company’s Hwini-Butre concession. Indicated resources were pegged at 4.25 million tonnes grading 4.11 grams gold plus an inferred resource consisting of two components; an insitu resource of 1.72 million tonnes grading 3.01 grams gold and eluvial and reworked surface material totaling 5.66 million tonnes grading 1.14 grams gold.

The deposits are in shear zones hosting quartz veining and minor sulphides; the host rocks are diorite and granodiorite. St. Jude has the right to earn up to a 65% interest in the Hwini-Butre concession, through a combination of exploration expenditures and cash payments. Once vested, the government of Ghana will hold a 10% carried interest, and the junior’s joint venture partner, Hwini-Butre Minerals, will hold the remaining 25% participating interest.

About 25 km to the north, at the Subriso deposits which are hosted on the South Benso concession, the junior has completed over 100 drill holes. St. Jude believes that the current drill program will establish a resource on the gold zones in the northern concession. The gold mineralization at Subriso occurs in a shear zone in metavolcanics.

St. Jude can earn a 60.125% participating interest in the property by advancing the project to the feasibility report stage. Joint venture partner Fairstar Explorations (FFR-T) retains a 22.375% participating interest in the concession, and a local Ghanaian firm retains a 7.5% carried interest. The Ghanaian government retains a 10% carried interest. St. Jude is the operator of this project.