Hwini ButreWell, since Crew won't say anything about this project, I thought I would bring us up to date on what might be happening there. First, our project partner, St. Jude Resources, had until July 1, 2003 to do something there or Crew would do something else. I guess Crew gave them an extension on this lease date and now it appears St. Jude has started drilling again in this area:
"St. Jude Starts Drilling in Ghana and Burkina Faso
10/31/03
VANCOUVER, BRITISH COLUMBIA, Oct 31, 2003 (CCNMatthews via COMTEX) --
St. Jude Resources Ltd. (SJD - TSX.V) announces that a drill program is commencing immediately on its Hwini-Butre and Benso properties in Ghana West Africa. This drill program will focus on the southern deposits where three high grade ore bodies have already been delineated. They are Adoikrom (14 meters of 49.98 g/t Au), Father Brown (14 meters of 37.57 g/t Au), and Dabokrom (15 meters of 6.2 g/t Au). The independent geological consulting firm of Watts Griffis McOuat has established an initial resource of 936,000 ounces (562,000 oz. averaging 4.11 g/t Au indicated and 374,000 oz. averaging 2.75 g/t Au inferred). The purpose of the Hwini-Butre drilling is to move this project into he pre-feasibility stage of development..."
More to the article but did not relate to Hwini Butre.
Now the question is, Does Crew even care about this project since it appears they may want out of this area based on comments from St. Jude's web page:
"Ownership
St. Jude has the right to earn up to a 65% interest in the property, through a combination of exploration expenditures and cash payments. Once this has been completed the Government of Ghana will have its standard 10% carried interest, and our joint venture partner, Hwini-Butre Minerals Ltd., will hold a 25% participating interest. In the event that our joint venture partner elects not to participate in the development of the project, its interest will be reduced to a 12.5% carried interest, or at their option, to a 6% net profits interest."
So, what's the story Crew?
GLTA
Cheers,
Oxyurid