(TSX-V:
MPS)
January
21, 2008
NEWS RELEASE
Significant Drill
Results on Molybdenum Deposit in NW Ontario
Vancouver,
BC – MPH Ventures Corp. (TSX-V: MPS) (the “Company”) is
pleased to announce initial assay results for the first 3 diamond drill holes
of a 10,000 metre 30 to 40 hole drill program on its Pidgeon Molybdenum
Deposit located in NW Ontario. The purpose of this primary drill program is
to confirm the location, style, and grade of molybdenum mineralization that
had been previously reported by Rio Algom in 1981.
Hole locations are designed to
infill gaps in previous drilling and to confirm where mineralization was
reported and to test the down dip extension of known mineralization. By
doing this, the Company intends to quickly confirm historical data as
reported by Rio Algom, and to further increase the size of the deposit.
MPH Ventures has now completed 9
delineation diamond drill holes. Assays have been received from the first 3
holes helping to confirm historic results and continuing 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
|
PM07-1
|
350
|
55
|
146.9
|
Test down dip of known zone
|
PM07-2
|
350
|
50
|
161.1
|
Confirm previous intercepts
|
PM07-3
|
350
|
50
|
201.0
|
Confirm previous intercepts
|
Weighted Average Grade
HOLE_ID
|
From M.
|
To M.
|
Length M.
|
Mo %
|
PM07-1
|
112.5
|
145.0
|
32.5
|
0.11%
|
including
|
112.0
|
113.0
|
1.0
|
0.88%
|
including
|
124.0
|
126.0
|
2.0
|
1.20%
|
including
|
138.0
|
139.0
|
1.0
|
0.28%
|
PM07-2
|
85.7
|
116.7
|
31.0
|
0.07%
|
including
|
111.7
|
116.7
|
5.0
|
0.12%
|
PM07-3
|
94.9
|
134.4
|
40.5
|
0.08%
|
including
|
122.9
|
124.9
|
2.0
|
0.32%
|
including
|
130.4
|
131.9
|
1.5
|
0.37%
|
*All intercepts are believed to be
90%+ of true width of mineralization.
Hole PM07-1 has confirmed the down
dip extension of the known mineralization. Holes PM07-2 and
PM07-3 have confirmed mineralization in previous drill intercepts. As
there are many more drill holes to report, the Company feels this is an
excellent start in the process to delineate the Pidgeon Molybdenum
Deposit. All nine holes have intersected the same style mineralization.
The completed drill
holes have confirmed and extended the previously described geology and
molybdenum mineralization. The margin of a potassic granite is intruded by
late phase pegmatitic material consisting primarily of quartz and
K-feldspar. The known main mineralized zone of pegmatite, in the margin
of the granite, is from 30 to 50 metres thick. The drill holes indicate that
additional zones of pegmatite occur deeper into the granite body than was
previously known. Assays from the additional 6 drill holes have not
been received and are pending including the deeper intersections.
Pidgeon Molybdenum Deposit Drill Map:
http://www.mphventurescorp.com/s/Image.asp?i=maps/MPS-Drill-Hole-Loc-lg.gif
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
“Jim Pettit”
________________________________
JAMES G. PETTIT
President
Share Outstanding
25.7 million
|