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Projects Overview
Pidgeon Molybdenum Deposit Project
Godfrey Gold Project, West Timmins, Ontario
Raney Township Gold Property, Timmins, Ontario
Big Mac Property, Sudbury, Ontario
The Shining Gold Property, Timmins, Ontario
The Goudgold Property, Wawa, Ontario
Geneva Lake Gold Property, Sudbury, Ontario
Heyson Project, Red Lake, Ontario
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OVERVIEW - PIDGEON MOLYBDENUM DEPOSIT PROJECTGoogle Earth Download Program is required Molybdenum (Mo), or "Moly" for short, is used as an alloying agent in steel to enhance strength and resistance to wear and corrosion. It is also used in lubricants developed for high-temperature and high-pressure applications. There are no known substitutes for molybdenum's unique properties which are used in most of the present day super-alloys.
) Click to Enlarge In November 2007, MPH Ventures concluded its purchase of all common shares of Pidgeon Molybdenum Mines Limited held by Rio Algom Limited ("Rio"), a wholly owned subsidiary of BHP Billiton Ltd. (NYSE: BHP) and Goldcorp Inc. (TSX: G). Pidgeon Molybdenum Mines Limited holds a 100% interest in the 3,420 acres "Pidgeon Molybdenum Deposit", located at the east end of Lateral Lake near Dryden, in the Echo Township, Kenora mining district of Northwestern Ontario.
Several historical resource estimates, produced in the late 1970's, have been prepared on the Pidgeon Molybdenum Deposit that include reports by Strathcona Mineral Services Ltd. and T. Bottrill for BHP Billiton stating the surface mineralized zone contains an estimated 9,000,000 tons of 0.10% molybdenum (Mo) (2 pounds/ton) of drill indicated resource (Strathcona Mineral Services Ltd. for BHP Billiton July 16, 1980) and 55,000,000 tons with grades of 0.08% molybdenum (Mo) inferred resource (T. Bottrill for BHP Billiton Sept. 17, 1979). The tonnage varies depending on the parameters used and the assumptions made with respect to molybdenum grades, limits of the mineralization, and geometry of the mineralized body. The historic estimates were based on a total of 62 diamond drill holes completed in mineralization on the property. Since the resource estimates are historical in nature and predate and are non-compliant with NI 43-101 standards, the estimates should not be relied upon and is listed only for reference purposes on this website. In November 2007, the Company commissioned Wardrop Engineering Inc, to complete a National Instrument 43-101 compliant report on the Pidgeon Molybdenum Deposit and confirmation drilling began. With this acquisition, MPH Ventures has acquired a significant molybdenum (Mo) property asset with a historical near surface drill indicated and inferred resource. The property is ideally situated for 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.
Highlights
It is the Company's intention to quickly verify and confirm the existing resource as indicated by the Wardrop Report as well as to undertake an expansion program with the goal of significantly increasing the mineral resource of its Pidgeon Molybdenum Deposit. In January and February 2008, MPH Ventures released results from the first 6 drill holes completed on its Pidgeon Molybdenum Deposit project confirming historic results.
In June 2008, MPH Ventures announced a drill rig has been mobilized onto the Company's 100% owned Pidgeon Molybdenum Deposit project and the next phase of drilling has commenced. The phase 2 drill program has been designed with the intent of demonstrating that the molybdenum deposit can be increased significantly in size. The drill program is to extend the known molybdenum mineralization along both open ends of the deposit. The plan is to define molybdenum mineralization to a vertical depth of 100 metres, as this would conform to open pit design parameters.
In addition to the drilling, an area of 30 metres by 40 metres was stripped of overburden and mapped in detail by MPH Ventures geologist. The Company will also be carrying out a bulk sample from the stripped area to obtain a better estimate of the likely grade of the deposit. This size of area would produce 2,430 tonnes per vertical metre. Channel sampling of the proposed bulk sample area is now being undertaken. 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.
Historical Exploration
The property was acquired by Rio Algom and Dickenson Mines in the 1970's, and subsequently by BHP Billiton and Goldcorp (respectively) through ongoing mergers and acquisitions. Prior records indicate that historical data on the Pidgeon Molybdenum Deposit dates back to 1946 with the original owner, G. L. Pidgeon. Approximately 95 holes have been drilled in 11,500 metres on the property to date, with diamond drilling carried out in the 1950's, 60's and 70's. The most extensive work was conducted by Rio Algom in the late 1970's with reports written by Strathcona Mineral Services on behalf of BHP Billiton in 1980.
The Pidgeon Molybdenum Deposit mineralization is contained within what has been referred to as a "mineralized shell". This shell has a strike length of 1500 metres and an average true thickness of 30 metres and dips 45 degrees to the south. Only a small portion of the prospective geology on the property has been drill tested. The property covers an elongated granodiorite that has intruded metavolcanic rocks. The granodiorite trends almost east-west and forms the core of an anticline. Molybdenum mineralization occurs within the granodiorite along the contact with the metavolcanic rocks. Molybdenum mineralization is associated with abundant aplitic sills that intrude the outer margins of the granodiorite. The simple geology with 30 metre widths and shallow dips indicate potential for profitable development as an open pit mine. Only a small portion of the prospective geology on the property has been adequately tested. The possibility of increasing the tonnage significantly is very real.
Geology of the Pidgeon Molybdenum Deposit
The Pidgeon Molybdenum deposit consists of molybdenum mineralization that occurs in a zone of vein filled hydro fracturing in compositionally banded granite. Major veins are 1 to 2 metres wide and trend at 110 degrees. A second set of veinlets 10 to 20 cm wide trends at 70 degrees. Intense alteration extends 1 to 2 metres out from the larger veins that trend at 110 degrees. This same alteration extends 30 to 40 cm out from the veinlets that trend at 70 degrees. Molybdenite 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.
Molybdenum Market Overview
Molybdenum is a hard, grey, metallic element used primarily in the production of hardened steel alloys, accounting for 63% of the world's consumption. Molybdenum is used because its addition enhances strength, hardening, welding toughness, elevated temperature strength, and corrosion resistance. As such, molybdenum is commonly found in applications such as desalination plants, oil rigs, nuclear plants, and oil/gas pipelines, where versatility and strength are paramount. As an example, it is estimated that 1,200 km of pipe requires 1.9 million lbs of molybdenum. Currently, there are roughly 80,000 km of pipelines planned for development worldwide. The second largest usage of molybdenum is within the chemical industry with the largest application being the production of ultra-low sulphur diesel. Chemical usage of molybdenum accounts for 14% of molybdenum consumption.
Molybdenum Trends
Molybdenum is increasingly being used in automobiles and various industrial products. Adding molybdenum to steel gives added strength and improves the strength-to-weight ratio -- meaning less metal is needed. Over the past two decades, automotive engineers have included molybdenum-bearing, high-strength steel in their designs in order to produce lighter-weight, m ore fuel-efficient vehicles, which also resist corrosion and yield higher crash-test ratings than older models. Growing use of molybdenum is also a factor in the chemical and petroleum industries. For example, project managers are favoring molybdenum-bearing duplex stainless steel grades for their strength and lower cost in the construction of large storage tanks.The need for stronger steel alloys to handle higher pressures, as well as to resist corrosion, explains why molybdenum is being used more frequently and more intensely in oil and gas pipelines.
) Click to Enlarge Steel alloys containing molybdenum perform better than ordinary steel in high-heat and corrosive situations, such as in jet engines, power generating turbines, desalination plants and nuclear power facilities.
Limited Molybdenum Global Supply
Roughly 65% of the molybdenum global supply is mined as a bi-product from copper mines. As pure moly deposits are even scarcer, global demand and price for molybdenum is anticipated to rise.
The world's geological reserves of molybdenum are concentrated in China and North and South America. China's reserves could potentially lead to higher production to fill the world's growing needs. However, while China was a major exporter of molybdenum in the past, the Chinese government beginning in 2004 deliberately reduced molybdenum supply to the rest of the world through production curtailments, export taxes and export quotas. As local high-cost mines closed down near the end of 2008, China started importing large quantities of molybdenum from North and South American producers.
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Desjardins Securities (April 2007) predicted a world demand on molybdenum to increase by approximately 20 million lbs per year, with limited build-up in new mines and several producers reporting production should fall significantly year-over-year as higher grade ore is depleted from deposits and focus is on the lower grade. These companies include Codelco down 5.4% to 30m lbs, Kenecott down 12.4% to 17m lbs, and Antamina down 7.3 % to 7.6m lbs. As a result, Desjardins Securities describe their forecast increase in demand of 5.3% in 2007, and 3.9% in 2008, as conservative.
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Previous property owners include Goldcorp, BHP Billiton and 
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