TORONTO, ONTARIO -- (MARKET WIRE) -- 06/16/08 -- Brian Kiernan, President and CEO of Moydow Mines International Inc. ("the Company")(TSX: MOY)(AIM: MOY) today announced that the Company has commenced drilling on the Dala Licence, in Angola where a contract for 5,000 metres has been signed with an option to drill an additional 5,000 metres.
The Dala Licence comprises some 3,000 square kilometres and is located in the Lunda Sul province of north-eastern Angola, immediately adjacent to the city of Saurimo. The licence is 40 kilometres south of the Catoca Mine, the world's fourth largest diamondiferous kimberlite mine, and is adjacent to Petra Diamond's Alto Cuilo property.
Through a process of airborne and ground based geophysical work, Moydow has identified over thirty targets on the property which merit drilling. The first drill hole of the campaign was commenced in the first week of June 2008 and was located on anomaly DAL 58, which is located some six kilometres from the western border of the licence and approximately twenty three kilometres form the northern border. The drill hole was located near the center of the geophysical anomaly and drilled vertically. Although drilling continues, Moydow can report that kimberlitic material was intersected by the drill hole at a depth of 126 metres. The material intersected is known as VK, or Volcaniclastic Kimberlite, which usually forms the cap of a kimberlite pipe. Geologists on site have reported olivine, diopside and garnet in the VK portions of the core. The core from this drill hole is currently being logged on site. It will then be split and samples sent for further analysis, the results of which should be available within the next two weeks. This further analysis will be focused on the mineralogy of the kimberlitic material, as well as testing for micro-diamonds in the core.
Moydow holds a 40% interest in the kimberlite licence. Empressa Nacional De Diamantes De Angola, the Angolan state diamond mining company, has a 51% interest and Cimader-Comercio General Limitada, a local Angola company, has a 9% interest.
The drilling programme and evaluation are under the supervision of Ebo Bakker, a Professional Geologist, and "Qualified Person", as defined under NI 43-101, and is responsible for the technical information presented in this news release. Progress reports on the drilling programme will be released on an on-going basis as results become available.
Moydow Mines is engaged in the acquisition, exploration and development of mineral properties worldwide. Corporate information is available on the Company's website www.moydow.com. Moydow Mines International Inc is listed on the Toronto Stock Exchange and the AIM Market of the London Stock Exchange under the symbol "MOY".
On behalf of the Board of Directors
Brian Kiernan, President and Chief Executive Officer
Moydow Mines International Inc.
Vice President, Corporate Development
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