Here you go big Z...news release
and a Merry Christmas to all loyal 'montellos'.... :)
Chuck
Web Page: www.montello.com ASE SYMBOL: RDW
ASE SYMBOL: MEO
December 19, 1997
Redwood Advances $1,500,000 payment to Montello
Montello Resources Ltd. (the "Company") announces that Redwood Resources LTD. has advanced
the first option payment of $ 1,500,000.00 (due January 1, 1998) to the company. These funds will be
used to drill test targets identified in this fall's ground geophysical program.
In the Buffalo Hills area of Alberta, ground follow-up of air "magnetic" anomalies has defined 18
targets that are highly prospective as representing kimberlite, in the eastern half of the "Jazz West
Prospect Area". This work will continue in January as less than 30% of available airborne anomalies
have been tested to date. Midwest Drilling has been contracted to initiate drilling on identified targets
and will be mobilizing the first week of January, 1998. All permits are in place and a camp will be
established on the site.
Magnetic, and satellite/radar imagery in the region define two, major, structural elements. Firstly, sets
of strong, mutually perpendicular, NW/NE - trending lineaments (fault zones) that cradle, and
secondly, a large, domal feature in the eastern half of Ashton/Alberta Energy/Pure Gold lands abutting
Montello/Redwood holdings.
Montello/Redwood targets, and kimberlites north of Red Earth (Ashton/Alberta Energy/Pure Gold),
appear to be controlled by these (partly common) lineaments, and to flank the domal feature -
Montello/Redwood on the south and eastern flanks, Ashton/Alberta Energy/Pure Gold on the western
flank.
ON BEHALF OF THE BOARD OF DIRECTORS
MONTELLO RESOURCES LTD. REDWOOD RESOURCES LTD.
Per: "Patrick Power" Per: "Gary Korzenowski"
PATRICK POWER, President GARY KORZENOWSKI, President
The Alberta Stock Exchange has neither approved nor disapproved the information contained herein. |
