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Gold/Mining/Energy : Montello Resources

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To: Famularo who wrote (2353)	9/21/1998 2:41:00 PM
From: JP	Read Replies (2) of 4256

Just came back from show and talked to Thomas and Pat. 1)Kennecott crew on plane to Ft. Mac this am. 2)Drill in Ft. Mac. will be moved to gas plant in target vicinity. 3)Three trargets now -if sucessful -then 12 more -then 23 more. 4)Had aeromag of Ashton k5 and others. One of the three targets that Kennecott is drilling is a dead ringer for k5. Other two look similar. One of the partners of Spectra -the outfit that flies the aeromags for all these guys was standing at the booth. I asked him if he had shares in Montello. He said that he had since the Jazz property and was looking for more. (Nice touch eh) 5) Work is still going on on the Jazz block. New targets have been identified. 6) Montello had good info and wanted to show it - most others -if they had a booth -were talking to each other. 7) I asked Pat why Kennecott was spending this money now rather than wait for less expensve winter drilling. He said that when the majors were bidding up this deal -Kennecott threw this in to sweeten the pot. What I like is that if they find Kim -then they still have all winter to drill the other targets. The plan is that if they find kims they will just keep going. JP

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