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MPH Ventures Corp. (TSX-V: MPS) is a molybdenum and precious metal exploration company focused on mineral development within Canada.
The Company has recently acquired the Pidgeon Molybdenum Deposit from BHP Billiton and Goldcorp with a significant historical (Non NI 43-101) drill indicated and inferred molybdenum (Mo) resource located in Northwestern Ontario.
The most extensive work on the 3,420 acres Pidgeon Molybdenum Deposit was conducted by Rio Algom and Dickenson Mines in the late 1970's, which was subsequently acquired by BHP Billiton and Goldcorp (respectively) through mergers and acquisitions. With the existing surface molybdenum deposit open in all directions, MPH Ventures believes the potential to increase the tonnage warrants immediate exploration on the project. MPH Ventures commissioned Wardrop engineering Inc, to complete a NI 43-101 compliant report on the deposit in November 2007 with confirmation drilling completed in February 2008. A Phase 2 step-out drill program is now in progress.
Molybdenum or "Moly" 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. The price of molybdenum has gone from $3 per pound to $35 per pound over the last couple of years and is expected to go higher due to strong demand and short supply.
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