More gold for St. Jude

Vancouver — Drilling by St. Jude Resources (SJD-V) at its Benso project in western Ghana has delineated a trend of gold mineralization in the Subriso Block G zone over a strike length of 500 metres and to a depth exceeding 100 metres depth.

Results include 7 metres grading 12.48 grams gold per tonne in hole 247 and 21 metres of 3.7 grams gold in hole 203.

The company has drilled more than 200 holes at Benso, a resource estimate for which is pending.

The gold mineralization is shear-zone-hosted within metavolcanics. Fifteen separate mineralized zones have been identified in two large parallel, north-south areas of surface enrichment, each of which exceeds 3,000 metres in length.

The Benso concessions adjoin the company’s Hwini Butre property, to the north, which has a resource equivalent to 936,000 oz. gold.

After the drill results were announced, the stock traded down 15 from a 7-week high, to close at $1.60 on a high volume of 720,000 shares. St. Jude has 37.1 million shares outstanding and $14 million in cash.