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Gold/Mining/Energy : Montello Resources

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To: gordon m. who wrote (2240)7/14/1998 10:31:00 AM
From: Jesse  Read Replies (3) of 4256
 
Hi Gordon, long time no hear! First, I am certainly no expert! I'll offer a couple comments, don't know if they'll be helpful.

Re. a map w/ fault structures, I don't know if much is publicly available, detailed anyway, without some good coin. If anyone knows otherwise, I hope they'll speak out!

Re. the Legend block-- in looking at bedrock and drift maps of the region, the only area that really looks drillable (to me) is the southeast corner, meaning, this portion doesn't look to be under prohibitive depths of overburden [-the geology is another thing]. Mind you, that area in the SE is still a large area of land (we're dealing with huge claim areas here). Also, the Peace River Arch axis runs up that way (terminating just south of the SE corner).

Montello reports,
The Legend block is approximately 50 kilometres east of the main Ashton Discovery block.
The SE corner I speak of is actually about 125km east of the Ashton discovery block, and about 170km NNE of the actual Ashton discovery kimberlites.
MEO also says,
One of the targets shows as a magnetic high of 410 nT with dimensions of approximately 400 metres x 400 metres.
This is a very strong anomaly. I don't know what that means, tho. The Alberta Ashton anomalies are said to be in the 10-30nT range (nano tesla).

Re. the rumoured deal with Kennecott, Montello needs it if they wish to fund more drilling, as things stand. Their treasury is getting low. Consider that their recent GST refund cheque helped their T out significantly. - Outstanding shares-wise, there is getting upwards of 45mil, FD.

If and when MEO drills, this go round they will be RC drilling first, which means less squandering of money. If Kennecott makes a deal with them, I would imagine they would want a piece of Montello's Nina block (NW) too, which may have some sweet targets on it. But if MEO's smart, they will not deal more of that piece away without a fight.

Best of luck,
-j
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