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Gold/Mining/Energy : ASHTON MINING OF CANADA (ACA)
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To: Jesse who wrote (6333)10/15/1998 1:09:00 PM
From: Famularo  Read Replies (2) of 7966
 
FYI!
Picked this up from Stockhouse!

Alberta Diamond Play
Two Days, Two Releases from
Montello

Montello Resources [MEO.C] released two encouraging updates in the last two days regarding the
diamond exploration program on the Legend property in Alberta. In yesterday's announcement,
they confirmed that petrological analysis has proven the Phoenix discovery, first reported
September 29th, is indeed a kimberlite. Today's news goes on to reveal the discovery of a second
kimberlite at the Roc target.

In response to these promising results, Kennecott Canada, the project operator, now plans to
continue exploration through December expanding the initial three-target program to now include
drill testing of seven additional targets.

Alberta diamond players must be disappointed with the lackluster market response to these
developments. Analysts have suggested for some time that the Alberta area play would only heat up
again when one of the satellites made a discovery. One is, therefore, led to wonder why there was
not a better response to the confirmation of not just one but now likely two kimberlites. Hopefully, it
is just a case of investors taking a conservative stance and waiting for the diamond-content analysis,
which is due in four to six weeks.
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