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Gold/Mining/Energy : Diamonds in Alberta, Ashton, Pure Gold, Montello, New Cla

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To: Famularo who wrote (770)	11/30/1998 5:16:00 PM
From: Jesse	Read Replies (1) of 822

1998 drilling program completed -- Montello Resources Ltd MEO Shares issued 37,716,158 Nov 27 close $0.30 Mon 30 Nov 98 News Release Also Redwood Resources Inc (RDW) Mr. Patrick Power and Mr. Gary Korzenowski report A report has been received from Kennecott Canada which indicates that the 1998 drilling program has been completed. Two new kimberlites were intercepted, Xena and Legend. Encouragingly, the last three kimberlites are under much shallower till cover and they will be easier to test if they return good caustic fusion results. TARGET/ KIMBERLITE CHEMISTRY CAUSTIC KIMBERLITE INTERCEPT(m) FUSION Phoenix 102.5 Olivine/ 5 dmds ilmenite 380 kg Roc 120.42 Olivine/ * ilmenite Dragon 121.9 Olivine/ * ilmenite plus CPX Wyvern N/A N/A N/A Valkyrie 129.2 * * Pegasus 83.0 * * Xena 86.0 * * Legend 12.2 * * * - Results expected mid-January 1999 The 1998 program was successful in intersecting kimberlite in seven of the eight targets tested. There are many more geophysical anomalies of similar tenure that will require testing in 1999. The current plan is to begin follow-up geophysics in January and begin drilling at the same time. The complete caustic fusion results for the 1998 discoveries should be available at this time as well. The strategy is still to obtain a large inventory of separate kimberlite intercepts. The more kimberlite intercepted, the better the chances of an economic discovery and an understanding of this kimberlite field. (c)Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com

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