Mon Jan 21, 2008 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%
incl. 112.0 113.0 1.0 0.88%
incl. 124.0 126.0 2.0 1.20%
incl. 138.0 139.0 1.0 0.28%
PM07-2 85.7 116.7 31.0 0.07%
incl. 111.7 116.7 5.0 0.12%
PM07-3 94.9 134.4 40.5 0.08%
incl. 122.9 124.9 2.0 0.32%
incl. 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.
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.
ON BEHALF OF THE BOARD OF DIRECTORS
"Jim Pettit"
________________________________
JAMES G. PETTIT
President
For further information contact myself or:
Don Myers
MPH Ventures Corp.
Director
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@mphventurescorp.com
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
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.
You can view the Next News Releases item: Mon Feb 4, 2008, MPH Ventures Announces Consulting Agreement with Robert Marvin, P.Eng.
You can view the Previous News Releases item: Tue Jan 15, 2008, Extension of Bid to Purchase all Pidgeon Molybdenum Mines Limited Shares
You can return to the main News Releases page, or press the Back button on your browser.
