Home > Boards > US OTC > Mining/Resources > MOYDOW MINES (MOY)

Moydow Mines International Inc.: Drilling recommences at

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Ed Monton Member Profile
Member Level 
Followed By 35
Posts 12,489
Boards Moderated 8
Alias Born 12/17/02
160x600 placeholder
Ed Monton Member Level  Thursday, 03/25/04 05:17:36 PM
Re: None
Post # of 547 
Moydow Mines International Inc.: Drilling recommences at
True Grit

TORONTO, ONTARIO-(CCNMatthews - Mar 25, 2004) -

Baie d'Espoir property optioned from Altius Minerals

Moydow Mines International Inc ("Moydow") is pleased to announce
that drilling is now underway at its True Grit gold project which
is located in the Baie d'Espoir region of Newfoundland. A total
of 3000 metres is planned to test a number of gold anomalies
which are located north of a broad zone of gold mineralization
identified in the drilling program in the 2003 field season.

The True Grit project is a joint venture between Moydow and
Cornerstone Capital Resources. Moydow has the option to earn up
to an 80% interest in the True Grit project and is the operator
of the property.

Moydow is also please to announce that they have also entered
into an earn-in/joint venture agreement with Altius Minerals
Corporation concerning Altius' Baie d'Espoir gold project which
is located north of the True Grit property.

The newly optioned Baie d'Espoir property consists of 305 claims
(7625 hectares) and is centred on a 15 kilometre long
gold-tungsten-arsenic geochemical anomaly that is spatially
associated with granite and granodiorite bodies that are Late
Paleozoic in age. These intrude metasedimentary rocks including
calc-silicate units and carbonaceous schist and are an integral
part of an under-explored mineralized belt that measures more
than 100 kilometres long.

Moydow has the option to earn up to an 80% interest in the Altius
Baie d'Espoir property by issuing 165,000 common shares of Moydow
over a period of 24 months and by solely funding exploration
expenditures for three years. Thereafter, Altius shall maintain a
10% carried interest and a further 10% contributing interest.
Altius may also elect to convert both interests to a net smelter
return royalty.

Work to date has identified potential for extensive
intrusion-related gold mineralization with features similar to
other Late Paleozoic intrusion-related gold systems worldwide.

Intrusion-related gold systems represent some of the largest gold
resources in the world. For example, the Tien Shan belt in
central Asia is reportedly endowed with 400 million ounces of
gold. The Muruntau deposit accounts for approximately half of
this amount and is currently the world's largest open pit gold
mine.

Moydow is engaged in the acquisition, exploration and development
of precious metals properties worldwide. Exploration continues on
the True Grit project in Newfoundland. Given the strong success
of Moydow in Ghana, Moydow will reactivate exploration at
Kanyankaw and Hwidiem. The Hwidiem property is adjacent to the
Ntotoroso project and is less than 3 kilometres from the E-Zone
deposit.

Corporation information is available on Moydow's website
www.moydow.com. Moydow is listed on the Toronto Stock Exchange
under the symbol "MOY".


/T/

CANADA
Suite 1220 , 20 Toronto Street
Toronto ON M5C 2B8
Tel: 416-703-3751
Fax: 416-367-3638

IRELAND
74 Haddington Road
Dublin 4, Ireland
Tel: 011 353 1 667-7611
Fax: 011 353 1 667-7622

GHANA
Shankill House
21 5th Circular Road
East Cantonments, Accra, Ghana
Tel: 233-21-772516
Fax: 233-21-777247
www.moydow.com




Ed
Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist
Consent Preferences