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Gold/Mining/Energy : Montello Resources
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To: DIAMOND JIM who wrote (2536)10/13/1998 11:00:00 AM
From: Famularo  Read Replies (1) of 4256
 
Kimberlite confirmed on Legend property

Montello Resources Ltd MEO
Shares issued 37,716,158 Oct 9 close $0.46
Tue 13 Oct 98 News Release
Also Redwood Resources Inc (RDW)
Mr. Patrick Power of Montello Resources reports
The following is a verbatim report from Kennecott Canada Exploration
regarding progress on the Montello Resources/Redwood Resources/Kennecott
Canada Exploration joint venture exploration program on the Legend
property.
"Kennecott Canada Exploration Inc. (Kennecott) would like to inform you
that the Phoenix discovery on the Montello/Redwood Legend block in
Northeast Alberta has been confirmed as a kimberlite. This confirmation was
received after the rock was examined petrologically by Dr. Roger Mitchell
Ph.D., an expert in this field of study.
The Roc, Pegasus, and Xena targets have been defined by ground geophysics
and drill sites located. The drill has been moved to the Roc target and
drilling is currently under way. Kennecott regards these results as
encouraging and now plans to continue exploration through until December
expanding it from the initial three target program.
The new program will consist of geophysical surveys to define the anomalies
and subsequent drilling of these anomalies if warranted. Weather permitting
several targets will be drilled before the December holiday period.
Kennecott will keep you informed of progress as it comes to hand."
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