Metalex Ventures Limited - New kimberlite discovered in Angola

About this update from Metalex Ventures Ltd.

[{"type":"text","content":"\n\n\n\nKELOWNA, BC, May 20 /CNW/ - Metalex Ventures Limited (MTX: TSX-Venture\nExchange) is pleased to announce that an additional diatreme has been\nintersected at its project in Angola. This brings the number of diatremes\ndiscovered by the current drill program to three. In addition four diatremes\nwere pitted or augered last year and were confirmed as kimberlite.\n\n\nThis most recent diatreme has been tested with two holes. Both holes\npenetrated approximately 50 feet of overburden before intersecting crater\ninfill sediments to a depth of approximately 150 feet at which depth diatreme\nwas intersected. The first hole was terminated at 236 feet in the diatreme due\nto technical drilling difficulties. The second hole was drilled to the planned\ndepth of 603 feet where it ended still in the diatreme. The diatreme is\nmodeled to be 2.6 hectares in size.\n\n\nIn the news release dated March 25, 2008 it was announced that drilling\nhad intersected a five hectare diatreme.\n\n\nIntersection of a 112 hectare diatreme was announced on February 26,\n2008. Two holes were drilled, one to 125 feet and the second to 503 feet. Both\nholes terminated in the diatreme.\n\n\nCore from all three diatremes along with alluvial heavy mineral and\nweathered rock pit samples have now been shipped by air cargo to Canada where\nthey will be analyzed for diamonds and diamond indicator minerals at the C.F.\nMineral Research laboratory.\n\n\nMetalex is pleased with the intersection of yet another kimberlite. Upon\nreceipt by the CF Minerals laboratory the drill core, heavy mineral and pit\nsamples will be analyzed as a matter of priority. Results will be used to\nguide the continued drilling.\n\n\nMr. Chad Ulansky is the Qualified Person responsible for the technical\ncontents of this press release.\n\n\nCertain Metalex exploration projects are managed by Kel-Ex Development\nLtd., a company owned by Dr. Charles Fipke, an internationally recognized\ndiamond geologist. Dr. Fipke is the Chairman of Metalex. Kel-Ex provides\nMetalex with access to advanced proprietary databases and interpretational\ntechniques. In return Kel-Ex receives a 10% administration fee on certain\nprojects to cover costs and, in the case of Canadian projects, a 10% interest\nin certain projects carried to production. Dr. Fipke also owns the C.F.\nMineral Research laboratory where...

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