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Gold/Mining/Energy : Montello Resources

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To: JP who wrote (3111)	4/1/1999 11:37:00 AM
From: griz	Read Replies (1) of 4256

JP,and other humans-Yesterday in Van I met with Thomas from MEO Here is a nut shell of what he said. We are awaiting caustic fusion results from Kennecott's Thunder Bay lab for the remaining six kimberlites that were drilled during the fall drill program. Ten percent of each kimberlite pipe had been previously caustic fused, we are just waiting for the remainder to be done. The commencement of caustic fusion work has been tempoarily delayed due to the fact that Kennecott has to do Aber's pipes that they are working on in the N.W.T. The outcome of these caustic fusion results determines whether or not to take larger samples of those kimberlites. They are working against the winter drill clock in N.W.T. as compared to the Legend block where they can't go back till June anyway. Therefore Aber's have priority over Montello's. We have been told that we should get some results mid to late April. We are currently in negotiations with several Airborne Geophysics companies to get the best price for an airborne Magnetic survey of the Jackfish property - (Calling Lake area). This property is located around Buffalo Diamonds property where several G10 Garnets and a very nice diamond have been discovered. This is significant as our property is located north east of Buffalo Diamonds which is inline with the glacier movement path. Our theory is that these indicator minerals and diamonds were picked up from their source on our property and deposited down ice on Buffalo Diamonds Property. We have recently completed the ground magnetics program on the joint ventured Absolut Property which is located west of Ashton's K14 cluster (the best results to date). We are having our geophysical "model" the mag results to determine if there are drill targets or not. We have just recently acquired 14 new properties totalling approx. 330,000 acres in and around the Tintina and Birch Mountain discoveries. These properties are located east of our Legend Block which are also close to the discovery as well and is 1.5 million acres. later griz

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