MPH Ventures Corp.

MPH Ventures Corp.

November 27, 2007 08:02 ET

MPH Ventures Corp.: Confirmation Drilling Begins on Moly Deposit, NW Ontario NI 43-101 Report Received From Wardrop Engineering

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 27, 2007) - MPH Ventures Corp. (TSX VENTURE:MPS) (the "Company") announces a diamond drill has now mobilized to its Pidgeon Molybdenum Deposit project. The proposed 10,000 metre diamond drill program is to start immediately, with an initial 4,000 metres to verify and confirm the historic data recently compiled by Wardrop Engineering Inc. Infill drilling will then be done to improve the confidence of the molybdenum resource to a level sufficient for an economic assessment.

MPH Ventures has also initiated a 70 km detailed grid and will complete a magnetometer survey over the grid.

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 National Instrument 43-101 standards and therefore could not be relied upon.

The Company has received an NI 43-101 standard resource estimate from Wardrop Engineering Inc. ("Wardrop") based on historical data. Wardrop has determined at 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. The Pidgeon Molybdenum Deposit remains open in all directions. There is very good potential of increasing the resource by drilling off the deeper portions of the mineralized shell as well as untested strike extensions.

Wardrop has recommended that initial confirmation drilling would increase the confidence level of the moly resource and move the resource from the inferred to the drill indicated category. Wardrop also concludes there is a good chance of increasing the tonnage of the resource, which could make the economics more attractive.

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 the Pidgeon Molybdenum Deposit.

Past data includes several diamond drill programs evaluating the deposit from the 1950's to the 1980's. An exploration adit was driven, and a bulk sample was taken for metallurgical testing in 1955. The most complete work was last done in 1979 and 1980 by Rio Algom (BHP Billiton) including diamond drilling. Strathcona Mineral Services Ltd. completed a preliminary economic study at that time.

Wardrop also recommends that all cores from new diamond drilling be sampled, as it has been noted in previous reports that there are significant intervals, especially in the Aplitic dikes, that were not split or sampled. Molybdenum disulfide (MoS2) mineralization was observed in these un-sampled intervals and new assay data would help to reduce internal waste dilution that has been noted.

These types of moly deposits typically occur in multiple lenses or mineralized shells that are stacked above each other within the porphyritic stock. The introduction of the molybdenum mineralization appears to be related with the intrusion of the Aplitic dikes and hosts the bulk of the mineralization to date. The bulk of the mineralization from past data occurs in a shell near the margins of the monzonite stock work where the quartz vein stock work also cuts across the Aplitic dikes.

The Company announced on November 21st it has acquired, through staking of claims and by optioning of claims, an additional 2900 acres in 14 claim blocks that completely surrounds the patented leased claims MPH Ventures recently purchased from BHP Billiton and Goldcorp, as noted in past News Releases.

Updated Pidgeon Molybdenum Deposit claims map:

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 VENTURE:MPS) visit the Company's web site at


JAMES G. PETTIT, President

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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Contact Information

  • MPH Ventures Corp.
    James G. Pettit
    (604) 687-3376 or Toll Free: 1-800-567-8181
    (604) 687-3119 (FAX)
    MPH Ventures Corp.
    Don Myers
    (604) 687-3376 or Toll Free: 1-800-567-8181
    (604) 687-3119 (FAX)