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Gold/Mining/Energy : Montello Resources
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To: JP who wrote (2213)7/2/1998 3:50:00 PM
From: violetta martinez  Read Replies (1) of 4256
 
Here it is...

Montello Resources Ltd - Airborne magnetic survey complete at Legend block

Montello Resources Ltd
MEO
Shares issued 35,719,337
1998-06-30 close $0.28
Thursday Jul 2 1998
Also Redwood Resources Inc (RDW)
Mr. Patrick Power reports
The company has completed an airborne magnetic survey of the
approximately 1.5 million acre Legend block (70 per cent MEO and 30
per cent Redwood Resources). The Legend block is approximately 50
kilometres east of the AEC, ACA, and PUG discovery block. This first
phase of data has been analyzed and is presently being followed up with
ground magnetics on anomalies identified in the airborne survey. At the
conclusion of the survey, targets will be identified to be drill tested this
summer.
The company has also flown an airborne magnetic survey over known
kimberlites in the area which has aided in the re-evaluation of the
airborne survey conducted on the Jazz block (70 per cent MEO and 30
per cent Redwood resources). With this new modelling information 13
targets have been identified as being kimberlitic in nature. Six of these
targets have had ground geophysical programs carried out on them. Drill
testing of these targets is planned in late summer to early fall.
Kenneth Davies has resigned effective immediately as a consultant to
the company.
(c) Copyright 1998 Canjex Publishing Ltd.


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