(TSX-V:
MPS)
February
07, 2008
NEWS RELEASE
Drilling
Continues to Intercept High-Grade Mo at
Pidgeon Molybdenum Deposit
in NW Ontario
Vancouver,
BC – MPH Ventures Corp. (TSX-V:
MPS) (the “Company”) announces further
assay results from its ongoing Phase 1 2008 diamond drill program at its
Pidgeon Molybdenum Deposit located in NW Ontario.
MPH
Ventures has now completed 12 delineation diamond drill holes of a proposed
40 hole drill program on its Pidgeon Molybdenum Deposit property. The
Company reported high-grade molybdenum assay values from its first 3 holes in
a January 21, 2008 News Release.
Pidgeon
Molybdenum Deposit Drill Map:
http://www.mphventurescorp.com/s/Image.asp?i=maps/MPS-Drill-Hole-Loc-lg.gif
MPH
Ventures has now received assays results for drill holes 4, 5, and 6 at its
Pidgeon Molybdenum Deposit project. Hole PM08-5 intersected a 46.5 metre intercept
averaging 0.14 per cent molybdenum. Within the intercept are high-grade
sections including 7.5
metres averaging 0.30 per cent molybdenum. Hole PM08-6
intersected a 41.5
metre section averaging 0.12 per cent molybdenum. Within
the intercept are higher-grade sections including 6.5 metres averaging
0.15 per cent molybdenum.
The
Pidgeon Molybdenum Deposit is one of Canada’s sizeable undeveloped
molybdenum deposits, located at the east end of Lateral Lake near Dryden in
the Echo Township, Kenora mining district of Northwestern Ontario. Infrastructure
in the area is ideal with transportation routes and power. A paved road is
located 7 kilometres
to the south and the CP Railway is 5 kilometres to the
north. Power lines run north-south through the property.
The
purpose of this primary drill program is to confirm the location, style, and
grade of molybdenum (Mo) mineralization that had been previously reported by
Rio Algom in 1981. Phase 1 drill hole locations have been designed to
infill gaps in previous historic drill programs and to confirm past reported
mineralization. By doing this, MPH Ventures intends to quickly confirm
historical data as reported by Rio Algom, and to further increase the size of
the deposit.
Results
received continue to encourage the Company of the validity of past reports
(see News Release November 27, 2007) including Rio Algom’s report of
55,000,000 tonnes of an inferred resource of .081% molybdenum starting at
surface.
HOLE_ID
|
Azimuth
|
Dip
|
Length M.
|
Plan for hole
|
PM08-4
|
340
|
45�
|
165.3
|
Confirm previous intercepts
|
PM08-5
|
340
|
50�
|
222.8
|
Confirm previous intercepts
|
PM08-6
|
340
|
50�
|
170.0
|
Confirm previous intercepts
|
Weighted Average Grade
HOLE_ID
|
From M.
|
To M.
|
Length M.
|
Mo %
|
PM08-4
|
138.9
|
165.3
|
27.4
|
0.04%
|
including
|
140.4
|
140.9
|
0.5
|
0.11%
|
PM08-5
|
135.5
|
182.0
|
46.5
|
0.14%
|
including
|
135.5
|
143.0
|
7.5
|
0.30%
|
including
|
135.5
|
137.0
|
1.5
|
0.45%
|
including
|
142.0
|
142.5
|
0.5
|
2.42%
|
including
|
159.5
|
160.5
|
1.0
|
0.27%
|
including
|
178.0
|
178.5
|
0.5
|
0.68%
|
PM08-6
|
126.5
|
168.0
|
41.5
|
0.12%
|
including
|
126.5
|
133.0
|
6.5
|
0.15%
|
including
|
128.5
|
131.0
|
2.5
|
0.29%
|
including
|
138.0
|
139.0
|
1.0
|
0.11%
|
including
|
141.0
|
142.0
|
1.0
|
0.12%
|
including
|
163.0
|
164.0
|
1.0
|
0.11%
|
*All intercepts are believed to be
90%+ of true width of mineralization.
MPH Ventures is very pleased with
the assay data received to date. This is an excellent start in the process to
delineate the Pidgeon Molybdenum Deposit project. The ongoing Phase 1 drill
program continues to confirm the molybdenum mineralization reported in previous
historical reports. All holes drilled to date have intersected molybdenum
mineralization. The completed drill holes continue to confirm and extend the
previously described geology and molybdenum mineralization.
The molybdenum
mineralization outcrops at surface on the Pidgeon Molybdenum Deposit property
and the molybdenum mineralization is continuous to the depths drilled to
date. The Company is very encouraged with the information being gleaned from
this drill program. MPH Ventures believes it will be successful in increasing
the size and tonnage of the project.
Assays from an additional 6 drill
holes have not been received and are pending including the deeper
intersections. The drill program is ongoing.
At the Pidgeon Molybdenum Deposit
property, the drill core is sawn into halves with one-half being sent for
analysis and the other kept for future reference. All samples were prepared
and analyzed at TSL Analytical Labs in Saskatoon
using a four-acid digestion with analysis by induced couple polarization
(ICP). A stringent program of check, blank and duplicate sampling was
employed throughout with duplicates, standards and blanks being entered into
the sample stream at regular intervals.
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 gold,
silver, and molybdenum exploration company focused on mineral development
within Canada and Latin America.
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
“Don Huston”
________________________________
DONALD C. HUSTON
Director
Share Outstanding
25.7 million
|