I repost this since it is more relevent today. The key to me is the 13 new targets on Jazz that are 70% Montello and have the right signature. Stay tuned for a deal with Ashton, DeBeers or Kennecott to drill these babies.
I copied the following from Montellos web site. The interesting thing to note is that this is not just a one shot deal.
Properties
The Jazz Property - 1 Million acres contiguous to Ashton on the South-east corner
A winter/98 drill program on seven targets unfortunately did not locate kimberlite. This caused a halt in the drill program to re-evaluate the program and more importantly re-assess the drill targets. A magnetic survey was flown over a known Alberta kimberlite field to establish the magnetic "signature" of the pipes for comparison purposes. Using this new data we have been able to locate 13 new targets to be drilled on the Jazz Property and have also used this data for target selection on the pending drill program on the Legend Block.
The Legend Property - 1.5 Million acres contiguous to Ashton on the Northeast corner
In late winter/98 to early spring an airborne magnetic survey was flown on the Legend Block with great results. Several very obvious magnetic anomalies appeared. These anomalies were good enough to attract the interest of Kennecott Canada Exploration Inc. Kennecott is a subsidiary of Rio Tinto, the largest mining company in the world, and has very extensive experience in diamonds- particularly in Canada. For further info on them go to kennecottexploration.com Kennecott conducted ground magnetic surveys over some key targets and were interested enough to enter into a thirty million dollar joint venture with Montello. (Please see news release dated September 8th 1998.) Drills were mobilized on September 24, 1998 with drilling estimated to be commencing on September 28, 1998. (See news release dated September 24, 1998.)
The Nina Property - 780,000 acres north-west of the Ashton Discovery
To date, approximately 20% of the property has been airborne magnetic surveyed with the rest to follow up at a future date.
The Swan Property - 875,000 acres South-east to Ashton approx
An airborne magnetic survey will be done once the airborne surveys are complete on the Nina Property.
The Grizzly Property – 136,000 acres West of the Ashton property
An airborne magnetic survey has been completed. Results from this survey are being compared with a recently completed airborne magnetic survey over a known Alberta kimberlite field. This comparison is just one of the tools we are currently using for target selection.
Valhalla Property – 250,000 acres west of Ashton Property
An airborne magnetic survey has been completed. Results from this survey are being compared with a recently completed airborne magnetic survey over a known Alberta kimberlite field. This comparison is just one of the tools we are currently using for target selection.
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