(TSX-V: MPS)
NEWS RELEASE
April 28, 2008
MPH Ventures
Announces Phase 2 Drilling to Begin on
Pidgeon Molybdenum Deposit
in NW Ontario
Vancouver,
BC – MPH Ventures Corp. (TSX-V: MPS) (FWB: IJA1) (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. (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
Share Outstanding
25.9 million
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