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Gold/Mining/Energy : Montello Resources
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To: JP who wrote (1987)3/25/1998 5:58:00 PM
From: chummer  Read Replies (3) of 4256
 
Extremely pertinent geological data from Buffalo Hills

Montello Resources Ltd MEO
Shares issued 35,719,337 Mar 24 close $0.46
Wed 25 Mar 98 News Release
Also Redwood Resources Inc (RDW)
Mr Patrick Power and Mr Gary Korzenowski report
The drilling program on the Jazz claims blocks in the Buffalo Hills region
of Alberta has been successful in guiding Montello and Redwood in a
positive direction with the development of extremely pertinent geological
data. The completion of seven drill holes on as many targets has indicated
that original high priority selections with typical kimberlite magnetic
signatures were proven to be non-kimberlitic lithologies at shallow depths.
This drilling information has dictated that the companies re-evaluate their
data which has been ongoing in conjunction with the drilling program.
Airborne magnetics from the Jazz group of claims contains abundant
anomalies that were originally deemed as second priority. Certain numbers
of these have been upgraded to a priority status as described below. The
novel selection process incorporates the data derived from the drilling
program and new in-house generated modelling of airborne and ground
magnetic data. This will more accurately define the magnetic signatures
typical of Alberta kimberlites located under varying thicknesses of glacial
till and younger sedimentary sequences. To complement this process and
render a multi-disciplined approach to the companies' diamond exploration
program, the employment of a thorough examination and evaluation of all
available seismic data derived from oil and gas exploration over the Jazz
claim block has been employed using the expertise of seismic geophysicists.
This systematic approach to anomaly identification, using magnetics in
conjunction with seismic, is responsible for the development of new
priority targets within the Jazz claim blocks.
Once several targets have been assembled, drilling will resume on the
property to continue testing for kimberlite sources. Additionally, a summer
geochemical sampling program is being considered for certain areas within
the claim block. As with all well developed technical programs, the
companies' exploration staff has used accumulated data to their advantage
and assembled a sound and aggressive direction for the remainder of 1998
within the Jazz claims. The companies have recently commenced the flying of
an airborne magnetic survey over the 1.5 million acre Legend block which is
also contiguous to the Ashton Buffalo Hills claims.
In addition, Montello has completed the airborne magnetic survey over the
Grizzly and Valhalla properties and is reviewing the data for target
interpretation.
The newly developed target selection methods will be employed for the
interpretation and target selection process on all properties. This data is
in various stages of review or acquisition and all will be interpreted for
target selection using the methods described above.
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