Canada’s Moydow Mines finds 70 potential diamond targets in Dala, Angola

8 March 2006

Toronto, Canada, 08 March – Canadian mining company Moydow Mines said Tuesday that its latest round of prospecting work at its diamond concession in Dala, northern Angola, have discovered 70 potential mining areas.

According to Moydow, the prospecting work carried out by South Africa’s Council of Geoscience, have found a “promising target area” on the northern perimeter of the concession.

“Recent soil and stream sediment sampling revealed significant concentrations of kimberlitic indicator minerals with little evidence of abrasion, suggesting a nearby primary source,” said Moydow, which is listed on the Toronto and London stock exchanges.

Significant quantities of diamonds were extracted from the area during a prospecting program carried out at the beginning of the 1970s, by Portuguese state diamond company, Diamang.

According to Moydow, the 70 targets identified have, since mid-January been subjected to a ground geophysical survey comprising magnetics and gravity, and in the next few weeks diamond drilling shall begin. (macauhub)