St. Jude Confirms Gold at Goulagou Deeps
Vancouver, October 12, 2005 - St. Jude Resources Ltd. (SJD-TSX.V) is pleased to announce successful deep drilling results at the Goulagou project in Burkina Faso. Exploration drilling within the GG2 zone included a long hole program testing for continuity beneath anticipated pit bottoms and infill drilling. Robust widths and grades were encountered in parallel zones of mineralization at both the 200 meter and the 300 meter depths, as can be seen in diamond drill core holes SJG-212 and SJG-217 highlighted below:
SJG-212: 24 meters of 2.22 g/t including 8 meters of 3.28 g/t
SJG-217: 17 meters of 3.86 g/t including 6 meters of 5.57 g/t,
33 meters of 2.92 g/t including 3 meters of 8.72 g/t,7 meters of 5.35 g/t
The following table lists significant new drill results from the latest round of drilling at Goulagou:
Coordinates Hole Azimuth Dip North (m) East (m) From -To (m) Interval Width (m) Grade g/t Au
SJG-210 180 -45 1505565 575660 174-200 26 1.69 Incl. 179-192 13 2.06 SJG-211 180 -45 1505480 575710 54-60 6 1.95 Incl. 55-58 3 3.24
SJG-212 180 -50 1505400 576660 84-89 5 1.37 201-225 24 2.22 Incl. 202-208 6 3.79 Also Incl. 217-225 8 3.28
SJG-213 180 -45 1505452 576560 230-236 6 1.51 242-250 8 1.12
SJG-215 180 -50 1505550 575315 80-105 25 1.35 Incl. 99-105 6 2.89
SJG-217 180 -45 1505567 576280 229-246 17 3.86 Incl. 235-241 6 5.57 298-331 33 2.92 Incl. 301-304 3 8.72 323-330 7 5.35
The company is encouraged by these results due to the fact they expand the previously identified zones of mineralization and strongly suggest that the Goulagou deposit is open at depth.
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 and review of these results, as well as the design and management of the drill program. Assaying is done by standard fire assay techniques with Atomic Absorption ("AA") finish on a one assay ton (50 gram nominal weight) sub-sample from the original 200 gram pulverized sample. A gravimetric finish is used for some of the higher grade assays normally above 10 g/t Au, or if visible gold is observed in the core. For quality assurance and quality control, blanks and standards are included in each sample submission. Sample preparation and analysis is conducted by Abilab, a recognized independent assay laboratory in Bamako, Mali.
Second Quarter Results
St. Jude has recently released its second quarter financial results, which includes management’s discussion and analysis. This report is available on the company’s website at www.stjudegold.com. At the end of the company’s second financial quarter, the company had no debt and working capital in excess of $5.36 million, which is sufficient to meet the company’s financial needs and planned exploration and development expenditures. Exploration expenditures on the company’s resource properties for the quarter amounted to $1,970,586 (2004 - $2,179,513). Administrative expenses and overhead totalled $293,361, representing a moderate increase over last year.
St. Jude is a leading West African explorer focused on the discovery and development of 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.
For further information, please contact:
Todd McMurray Vice President, Corporate DevelopmentSt. Jude Resources Ltd. Suite #200, 5405 - 48th Avenue Delta, British Columbia Canada, V4K 1W6 Tel: +1 - 604 - 940 - 6565 Fax: +1 - 604 - 940 - 6566 Or visit the company’s website at: www.stjudegold.com
MICHAEL A. TERRELL, President
No Stock Exchange has reviewed or accepts the responsibility for the adequacy or accuracy of this release.
AI
