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Gold/Mining/Energy : Montello Resources

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To: Abbeydale who wrote (2669)	10/22/1998 10:03:00 AM
From: Famularo	Read Replies (1) of 4256

HEADLINERS MONTELLO RESOURCES ("MEO-Y") REDWOOD RESOURCES ("RDW-Y") - J.V. partner and operator, Kennecott has intersected a third kimberlite pipe ("Dragon") at 135.9m depth. The hole was terminated at 193.2m depth still in kimberlite. The discovery of the Dragon kimberlite was especially encouraging because the target represented a subtle magnetic low anomaly. Now that both magnetic low and magnetic high targets have produced kimberlite pipes the total number of targets has increased. This translates into an expanded drill program that will now require drilling into 1999. The presence of diamonds requires confirmation by caustic fusion analysis which is still ongoing and due in approximately four weeks.

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