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(TSX-V: MPS)
NEWS RELEASE
October 07, 2008
MPH
Ventures Prepares for Bulk Sample at Pidgeon Molybdenum Deposit
in NW Ontario
Vancouver, BC ? MPH Ventures Corp. (TSX-V:
MPS) (FWB: IJA1) (the ?Company?) announces that it has
initiated a detailed channel sampling program on its 100% owned Pidgeon
Molybdenum Deposit project located at the east end of Lateral Lake, Echo
Township, northwestern Ontario.
Pidgeon
Molybdenum Deposit location map:
http://www.mphventurescorp.com/s/Image.asp?i=maps/MPS-ON-Pidgeon-Fig_41.gif
The
detailed channel sampling program is now underway and will be conducted over
an area that MPH Ventures has already stripped and cleared to expose
bedrock. An area of 30 x 40 metres was stripped of overburden and
mapped in detail by MPH Ventures geologists.
Picture
of Pidgeon Molybdenum Deposit exposed through stripping:
http://www.mphventurescorp.com/s/Image.asp?i=photos/MPS-Pidgeon-Moly-Deposit-Stripping-Pic.jpg
The partial
exposure of the deposit and detailed mapping has resulted in a significant
new interpretation of the mineralization and suggests strongly that the grade
of this deposit could be significantly greater than indicated by surface
drilling due to a strong nugget effect in the molybdenum zone.
Close-up
of Pidgeon Molybdenum Deposit exposed through stripping:
http://www.mphventurescorp.com/s/Image..asp?i=photos/MPS-Pidgeon-Moly-Deposit-Stripping-Pic-2.jpg
The
Company will also apply to carry out a bulk tonnage sample to obtain a better
estimate of the grade of the molybdenum deposit. MPH Ventures has contacted
Wardrop Engineering for advice in proceeding with the bulk sampling program
on the Pidgeon Molybdenum Deposit including the size of bulk sample and
methodology to be used in extracting the bulk tonnage.
On
September 29th, MPH Ventures announced it had completed a 31 hole
drill program on its Phase 2 program for 2008. The drill program consisted of
a series of step out drill holes that was designed to intersect Molybdenum
mineralization within 100 metres of surface.
The
goal of this drill program was to achieve 20 million tonnes with an average
grade of 0.10% Mo of a drill indicated resource. The Company believes it has
surpassed this goal and the data acquired will be submitted to Wardrop
Engineering for an updated independent resource evaluation to NI 43-101 standards.
The
drilling indicates that the size of the molybdenum deposit has been
substantially increased. The drilling also indicates that the known
molybdenum zone is open along several trends to the west and suggests that
significant new tonnage can also be developed in this direction.
Size
of Pidgeon Molybdenum Deposit in 2007:
http://www.mphventurescorp.com/i/maps/MPS-Moly-Before-Map.jpg
Size
of Pidgeon Molybdenum Deposit in 2008:
http://www.mphventurescorp.com/i/maps/MPS-Moly-After-Map.jpg
MPH
Ventures is making preparations for a winter 2008-2009 drill program. Significant
additional drilling is planned to expand and fully define the deposit.
HIGHLITES FROM PHASE 2 DRILL
PROGRAM
|
Hole
No.
|
From
(m)
|
To
(m)
|
Length
(m)
|
%
Mo
|
|
PM8-1
|
49.3
m
|
54.3
m
|
5.0
m
|
0.601
Mo
|
|
PM8-2
|
71.5
m
|
80.8
m
|
9.3
m
|
0.308
Mo
|
|
PM8-3
|
44.2
m
|
68.6
m
|
24.4
m
|
0.043
Mo
|
|
PM8-4
|
26.5
m
|
34.2
m
|
7.7
m
|
0.510
Mo
|
|
PM8-5
|
47.9
m
|
73.8
m
|
25.9
m
|
0.075
Mo
|
|
PM8-6
|
40.2
m
|
63.8
m
|
23.6
m
|
0.101
Mo
|
|
PM8-7
|
41.7
m
|
75.3
m
|
33.6
m
|
0.108
Mo
|
|
PM8-8
|
38.9
m
|
69.3
m
|
30.4
m
|
0.091
Mo
|
|
PMB-9
|
34.7
m
|
47.9
m
|
13.2
m
|
0.172
Mo
|
|
incl
|
45.4
m
|
47.9
m
|
2.5
m
|
0.940
Mo
|
|
PM8-13
|
19.2
m
|
29.2
m
|
10.0
m
|
0.055
Mo
|
|
PM8-14
|
31.7
m
|
60.7
m
|
29.0
m
|
0.178
Mo
|
|
incl
|
54.3
m
|
58.7
m
|
4.4
m
|
1.060
Mo
|
|
PM8-15
|
46.2
m
|
75.2
m
|
29.0
m
|
0.069
Mo
|
|
incl
|
46.2
m
|
54.2
m
|
8.0
m
|
0.220
Mo
|
|
PM8-16
|
59.1
m
|
77.1
m
|
18.0
m
|
0.078
Mo
|
|
incl
|
67.1
m
|
72.1
m
|
5.0
m
|
0.150
Mo
|
|
PM8-17
|
45.8
m
|
66.8
m
|
21.0
m
|
0.067
Mo
|
|
incl
|
45.8
m
|
52.8
m
|
7.0
m
|
0.110
Mo
|
|
PM8-18
|
32.6
m
|
56.0
m
|
23.4
m
|
0.377
Mo
|
|
incl
|
32.6
m
|
46.9
m
|
14.3
m
|
0.900
Mo
|
|
PM8-19
|
39.8
m
|
68.1
m
|
28.3
m
|
0.163
Mo
|
|
incl
|
39.8
m
|
48.7
m
|
9.9
m
|
0.440
Mo
|
|
PM8-20
|
12.8
m
|
31.4
m
|
18.6
m
|
0.157
Mo
|
|
incl
|
12.8
m
|
18.8
m
|
6.0
m
|
0.370
Mo
|
|
PM8-21
|
60.0
m
|
61.0
m
|
1.0
m
|
0.150
Mo
|
|
PM8-25
|
15.4
m
|
37.0
m
|
22.6
m
|
0.051
Mo
|
|
PM8-26
|
34.6
m
|
53.9
m
|
19.3
m
|
0.073
Mo
|
|
PM8-27
|
46.8
m
|
73.6
m
|
27.0
m
|
0.019
Mo
|
Drilling continues to confirm the
Company's opinion that a potential open pit situation exists on the Pidgeon
Molybdenum property. The Pidgeon Molybdenum Deposit property has excellent
infrastructure with an all weather road going across the property, location
to a paved highway is only 10 km to the south, and location to the major
Trans Canada CN rail line is only 10 km to the north of the property.
As a summary, MPH Ventures has now
completed 2 phases of diamond drilling on the Pidgeon Molybdenum Deposit
project. The Company also had a resource estimate completed by Wardrop
Engineering in 2007. (see Wardrop Engineering report filed on SEDAR November 27,
2007)
GEOLOGY OF THE PIDGEON MOLYBDENUM
DEPOSIT
Molybdenite on MPH Ventures
Pidgeon Molybdenum Deposit occurs in all vein and veinlets as well as in the
intensely altered rock. The molybdenite is nuggety within the alteration and
extremely nuggety within the quartz veins, particularly within the larger
veins. It is this nuggety nature that suggests that the grade may be
significantly under estimated from drill hole results. Large clots of
molybdenite observed within the quartz veins were seldom, if ever, observed
in drill core. There is no association with any other elements. This
would suggest simple mill circuitry and a clean concentrate.
The mineralization has a known
continuous strike length of 1700 metres with an average true width of 25
metres. The mineralization has a relatively shallow dip to the southeast and
occurs from surface to depths below 200 metres. The geometry of the deposit
is highly amenable to open pit extraction mining with a very low stripping
ratio.
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.
For
further information on MPH Ventures Corp. (TSX-V: MPS) visit the Company?s
web site at www.mphventurescorp.com .
ON BEHALF OF THE BOARD OF DIRECTORS
?Jim
Pettit?
________________________________
JAMES G. PETTIT
President
Shares Outstanding
34.7 million
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