VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Apr 28, 2008 -- MPH Ventures Corp. (CDNX:
MPS.V -
News) (Frankfurt:
IJA1.F -
News) (the "Company")
is pleased to announce a drill rig has been secured to start
the next phase of drilling on the Company's 100% owned Pidgeon
Molybdenum Deposit project located at the east end of Lateral
Lake near Dryden in NW Ontario. The project has an all weather
logging road running through the property to the CN Railway
20 km to the north. There is also a major power line running
through the property.
Pidgeon Molybdenum Deposit location map: http://www.mphventurescorp.com/s/Image.asp?i=maps/MPS-ON-Pidgeon-Fig_41.gif
The first phase of drilling completed in February 2008 confirmed
the historic molybdenum resource data provided by Rio Algom
and Strathcona Mineral Services as well as providing evidence
of both depth and lateral extensions of the known mineralized
zones. The recommendations for the phase 1 drill program
was set out in a National Instrument 43-101 report written
for MPH Ventures by Wardrop Engineering Inc. This drilling
has not only confirmed significant molybdenum mineralization
is present within the pegmatite vein swarm along the margin
of the Archean age Lateral Lake stock, it has highlighted
the fact that the main zone is not closed off and is open
along strike. Only the eastern margin of the Lateral Lake
stock has been explored in any detail by Rio Algom and MPH
Ventures resulting in the partial delineation of a 1.5 kilometre
strike length of near surface molybdenum mineralization.
3D Video on Pidgeon Molybdenum Deposit drilling: http://www.mphventurescorp.com/i/misc/PM2.wmv
The drilling rig is expected to arrive on site within the
next two weeks. The phase 2 drill program will include some
infill and confirmation holes as well as testing along strike,
as the Company feels the main zone is likely geologically
connected with other poorly explored occurrences located
along the district scale Lateral Lake stock - country rock
contact zone.
Past reports on the Pidgeon Molybdenum Deposit project from
T. Bottrill for BHP Billiton (Sept. 17, 1979) and consulting
engineering firm Strathcona Mineral Services Ltd. for BHP
Billiton (July 16, 1980) indicate the contained tonnage
in the mineralized zone varies from Strathcona's report
of 9,000,000 tonnes drill indicated at 0.096% molybdenum
to as much as T. Bottrill's report of 55,000,000 tonnes
inferred with grades of 0.081% molybdenum. The historic
estimates were based on a total of 76 variably spaced diamond
drill holes completed on the property. The historic resources
were not calculated to NI 43-101 standards and therefore
could not be relied upon.
MPH Ventures received in November 2007 a National Instrument
43-101 standard resource estimate from Wardrop Engineering
Inc. based on historical data. Wardrop has determined that
the Pidgeon Molybdenum Deposit contains an inferred molybdenum
resource of 8.5 million tonnes grading .099% molybdenum
and that the mineralization has been calculated down to
a total depth of 150 metres. The resource is contained in
a mineralized shell, which is about 1300 metres long and
60 metres thick. The area containing the inferred resource
in the report accounts for only 450 metres of the total
strike length of the mineralized shell.
David J. Busch, B.A., B.Sc., PGeo., MPH Ventures' Project
Manager, is the qualified person under the meaning of National
Instrument 43-101 and has reviewed the data in this News
Release.
MPH Ventures Corp. is a molybdenum and precious metal exploration
company focused on mineral development within Canada and
Latin America.
For further information on MPH Ventures Corp. (CDNX:MPS.V - News)
visit the Company's web site at www.mphventurescorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS
JAMES G. PETTIT, President
This news release contains certain "Forward-Looking Statements"
within the meaning of Section 21E of the United States Securities
Exchange Act of 1934, as amended. All statements, other
than statements of historical fact, included herein are
forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements
will prove to be accurate, and actual results and future
events could differ materially from those anticipated in
such statements. Important factors that could cause actual
results to differ materially from the Company's expectations
are disclosed in the Company's documents filed from time
to time with the British Columbia Securities Commission
and the United States Securities & Exchange Commission.
The TSX Venture Exchange and Frankfurt Exchange have not
reviewed and do not accept responsibility for the adequacy
or accuracy of the content of this news release.
