St. Jude Resources Ltd.
TSX VENTURE : SJD

St. Jude Resources Ltd.

June 23, 2005 09:54 ET

St. Jude Intersects 3.02 g/t Gold Over 28 Metres at Goulagou Drilling Continues

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 23, 2005) - St. Jude Resources Ltd. (TSX VENTURE:SJD) is pleased to announce drill results from the GG2 deposit, located within the company's 90% owned Goulagou/Rounga gold project in north western Burkina Faso. At Goulagou, St. Jude has successfully focused on near surface, resource definition drilling. This drilling has confirmed that there is significant potential for the deposits to expand at depth and along strike. Highlights from the latest round of drilling include 3.02 g/t over 28 meters including 6.01 g/t over 9 metres, 2.39 g/t over 12 metres and 2.08 g/t over 22 metres. A table of recent significant results follow:



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Coordinates Interval
Hole # Dip Azimuth ------------------ From- Width Grade
Degree North (m) East (m) To (m) (m) g/t Au
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SJG-190 -50 180 1505485 576011 44-56 12 2.39
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SJG-191 -50 180 1505500 575961 104-106 2 1.55
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SJG-192 -45 180 1505456 575860 47-52 5 1.05
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SJG-193 -45 180 1505440 575760 17-23 6 .54
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SJG 194 -45 180 1505463 575659 36-45 9 1.03
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58-86 28 3.02
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Incl. 74-83 9 6.01
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SJG-195 -45 180 1505511 575609 82-93 11 1.05
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110-119 9 2.84
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SJG-196 -45 180 1505437 575560 4-29 25 1.46
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SJG-197 -45 180 1505497 575560 60-66 6 1.98
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90-96 6 2.16
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SJG-198 -50 180 1505473 575514 52-61 9 1.36
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SJG-199 -50 180 1505441 576270 39-46 7 2.83
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SJG-200 -50 180 1505381 576188 42-43 1 1.14
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SJG-204 -45 180 1505481 575469 12-17 5 1.09
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24-46 22 2.08
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Incl. 24-36 12 2.15
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Incl. 40-46 6 3.19
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SJG-205 -45 180 60-63 3 1.26
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97-123 26 1.47
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Incl. 97-103 6 2.08
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113-117 4 2.42
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SJG-206 -45 180 35-41 6 2.27
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The GG2 deposit continues to deliver encouraging exploration results (see also news release dated May 10, 2005). Exploration so far indicates that the GG2 deposit continues to be robust, as evidenced by down dip intersections that have encountered a zone of mineralization ranging from 10-30 meters in width with higher grades. Recent examples of this include:

- SJG-194: 3.02 g/t over 28 meters (incl. 6.01 g/t over 9 meters)

- SJG-170: 3.44 g/t over 16 meters (incl. 5.0 g/t over 8 meters)

- SJG-171: 4.04 g/t over 11 meters (incl. 5.84 g/t over 6 meters)

- SJG-172: 2.88 g/t over 17 meters (incl. 7.25 g/t over 6 meters)

- SJG-173: 2.43 g/t over 30 meters (incl. 8.51 g/t over 3 meters)

Accordingly, the company is continuing to drill at GG2 in order to determine the full extent of the deposit. The potential for further mineralization remains open along strike and down dip. The company is at the same time continuing with ongoing resource compilation and prefeasibility work.

St. Jude's exploration program is under the direct supervision of George A. Flach, B.Sc., P.Geo., who is the qualified person responsible for the compilation of these results as well as the design and management of the drill program.

2005 Annual Report

St. Jude has recently released its 2005 Annual Report, which includes Management's Discussion and Analysis. This report can be viewed on the company's website at www.stjudegold.com. Exploration expenditures on the company's mineral properties for the 2005 fiscal year amounted to $5,986,547 (2004 - $3,376,276). At the time of the filing the 2005 Annual Report, the company had no debt and working capital of $9.6 million, which is sufficient to meet the company's financial needs and planned exploration expenditures on the company's seven gold projects in Ghana, Burkina Faso and Niger.

St. Jude is a leading West African explorer focused on the discovery and development gold deposits that are amenable to low cost mining techniques. The company's projects cover over 2,900 sq. km. or 716,605 acres of West Africa's most productive gold region. With a strong treasury, experienced exploration team, independently verified gold resources, and several advanced exploration targets, St. Jude is well positioned to continue its strong growth.

ST. JUDE RESOURCES LTD.

MICHAEL A. TERRELL, President


No Stock Exchange has reviewed or accepts the responsibility for the adequacy or accuracy of this release.

Contact Information

  • St. Jude Resources Ltd.
    Todd McMurray
    Vice President, Corporate Development
    (604) 940-6565 or Toll Free: 1-866-281-2193
    (604) 940-6566 (FAX)
    www.stjudegold.com