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Gold/Mining/Energy : Montello Resources -- Ignore unavailable to you. Want to Upgrade?

To: Jesse who wrote (1502)	2/9/1998 9:59:00 AM
From: philip trigiani	Read Replies (1) \| Respond to of 4256

Canadian Company Press Release PUG 1998-02-09 (provided courtesy of Canadian Corporate News.) register to receive future releases by email from CCN Pure Gold Minerals: Joint Venturers Plan $10 Million Alberta Program and Report Diamond Analysis VANCOUVER, BRITISH COLUMBIA--Donald R. Sheldon, President of Pure Gold Minerals Inc., is pleased to provide further results from sampling of the K-6 and K-91 kimberlites in the Buffalo Hills Project, north-central Alberta. As reported on January 19, 1998 a clear yellow diamond of 0.76 carat in weight was found in the early stages of processing of the mini- bulk sample from kimberlite K-6. The full results of dense media separation analysis of this sample of 13.95 tonnes are now available and are tabulated below. Although only a few macrodiamonds, other than the yellow stone reported earlier have been found, the presence of this stone alone is encouraging and indicates a need for further sampling. Microdiamond analyses in late 1997 showed K-91 to have one of the higher microdiamond counts found so far among the Buffalo Hills kimberlites. Results from analysis by dense media separation of core from the four holes (0.85 tonne) display a high degree of variability between holes. The best results were obtained from hole K-91-1, where 0.287 carat was recovered from a sample of 0.21 tonne, for an indicated content of 136 carats per 100 tonnes. The average indicated diamond content in material taken from the four holes is 35 carats per 100 tones. Although these results are derived from very small samples, they confirm the presence of a population of larger stones and point to the need for collection of a larger sample. /T/ Results are tabulated below: Kimberlite Sample Dry Sample Weight of Indicated Carats/ Type Weight Stones greater 100t. for Stones (tonnes) than 0.8 mm greater than (carats) 0.8 mm K-6 RC 4.13 .005 0.1 K-6 Pit 4.65 .067 1.4 K-6 x Core 5.17 .804 15.5 K-91 xx Core 0.85 .301 35.4 RC means reverse circulation x largest stone 0.75 carat (reported January 19, 1998) xx largest stones 0.14 and 0.13 carat /T/ Pure Gold and Ashton Mining of Canada have now perfected their interests of 15 percent and 42.5 percent respectively in the Buffalo Hills option property, having met the requirement to expend $5.5 million as defined under the agreement dated October 1, 1996. Total landholdings held jointly, including the Buffalo Hills Property, comprise 28.3 million acres, Ashton is the operator of the related exploration programs. All future programs on these landholdings will be funded pro-rata based on the joint venturers' interests. Pure Gold, Ashton and AEC have finalized an initial exploration program for 1998 of $10 million. Included are provisions for the acquisition of a 10 tonne per hour dense media separation plant, collection of a bulk sample of in excess of 500 tonnes from the K-14 complex, mini-bulk sampling of kimberlite K-91, exploration drilling of a minimum of 15 new targets and extensive airborne geophysical surveys. The winter field program is now underway, with drills to be mobilized within the next few days. Pure Gold is a diamond exploration company with interests in a wide range of properties in Alberta, The Northwest Territories and Saskatchewan. -30- FOR FURTHER INFORMATION PLEASE CONTACT: Pure Gold Minerals Inc. Donald R. Sheldon President (604) 682-1240 or Pure Gold Minerals Inc. Carina Bittel Shareholder Information (604) 682-1240 Disclaimer: The information provided is from sources we believe to be reliable and complete, but Carlson On-line Services, its employees, directors, agents and associates cannot be held liab

To: Jesse who wrote (1502)	2/9/1998 8:13:00 PM
From: JP	Read Replies (1) \| Respond to of 4256

Hi all. I have been reading this thread for months now and I finally took the plunge and signed up. To catch up I need to add my blanket "Thanks Jesse" since most of my diamond education is thanks to you. I have owned Montello for 2-3 years and bought in initially at the 24 cent level and as high as 88 cents. My only tidbit I can add is that the last time I spoke to Montello -around the start of drilling- I asked 'Any sign of kimberlite yet' (half jokingly). The reponse was 'only the stuff on the surface'. It was not Thomas or Pat that I was talking to -and it may have been BS - but it was tantalizing nonetheless. Good luck to all. JP ((:^}