MPH Ventures Corp.

MPH Ventures Corp.

June 19, 2008 10:42 ET

MPH Ventures' Significantly Extends Length of Pidgeon Molybdenum Deposit in NW Ontario

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 19, 2008) - MPH Ventures Corp. (TSX VENTURE:MPS)(FRANKFURT:IJA1) (the "Company") is pleased to announce an update regarding the Company's phase 2 drill program on its 100 percent-owned Pidgeon Molybdenum Deposit project located at the east end of Lateral Lake near the town of Dryden, Northwestern Ontario.

Pidgeon Molybdenum Deposit location map:

The Pidgeon Molybdenum Deposit property contains an indicated resource of 8.5 million tonnes with an average grade of .09% Molybdenum (see Wardrop Engineering report filed on Sedar November 27, 2007). The Phase 2 drill program has been designed with the intent of significantly increasing the size of the existing molybdenum deposit, which remains open both to the northeast and southwest.

3D Video on Pidgeon Molybdenum Deposit drilling:

MPH Ventures has now completed 8 drill holes of the phase 2 drill program. All 8 holes drilled to date have encountered significant molybdenum mineralization and have succeeded in significantly extending the length of the molybdenum zone. Several of the intercepts seen to date have exceeded the average in terms of the width of the known molybdenum zone. The objective of this phase 2 drilling is to demonstrate that the known inferred Pidgeon Molybdenum resource can likely be expanded to over 20 million tonnes with only a modest drill program. The Company is of the opinion that this goal is within reach and may be exceeded during this phase of drilling. MPH Ventures is of the opinion that the Pidgeon Molybdenum Deposit property has the potential to host as much as 50+ million tonnes at surface.

Holes PM08-1 and PM08-2 were collared in the heart of the known molybdenum zone to confirm past data indicating higher molybdenum grade in the interior zone. Molybdenum mineralization has been encountered in a 50+ metre intersection in drill hole PM08-1 and a 42+ metre intersection in drill hole PM08-2.

Hole PM08-3 and PM08-4 were designed to test the southwestern extension of the molybdenum zone as indicated in past news release on March 26, 2008. Both holes have encountered significant widths of molybdenite with Hole PM08-3 intersecting 40+ metres and hole PM08-4 with a 24+ metres intersection. These two holes demonstrate that the Pidgeon molybdenum zone does not break at the southwestern end of the known deposit and is likely continuous in a more westerly direction than previously indicated. This is significant because it indicates the western continuation of the main zone has not been previously tested.

Holes PM08-5 through PM08-16 all are designed to test the northeastern extension of the known Pidgeon molybdenum deposit. These holes are being drilled along strike on the molybdenum zone with approximately 50 metres spacing between holes. These holes are being drilled at a dip of 50 degrees with an azimuth of 320 degrees to a depth of approximately 100 metres. Holes PM08-5 to PM08-8 have been completed and have encountered significant molybdenum. PM08-5 intercepted 45 metres of molybdenite mineralization and PM08-6 intercepted 46 metres. Holes PM08-7 and PM08 are currently being logged and sampled. The reported core lengths are considered to be close to the true widths of the molybdenum zone.

All Phase 2 holes to date have intersected molybdenum within 100 metres of surface. MPH Ventures is of the opinion that a possible open pit situation exists for the Pidgeon Molybdenum Deposit property. The property has excellent infrastructure in that the project has an all weather road going across the property, location to paved highway is only 10 km south and location to major CN rail line is only 10 km to the north of the property. A major existing power line also traverses the Company's property.

MPH Ventures has announced a $1 million non brokered private placement as a funding mechanism to extend its Phase 2 drill program on the Pidgeon Molybdenum Deposit project. It is the Company's intent to fully and thoroughly explore this property for its molybdenum content. MPH Ventures intents to fully delineate the deposit and bring much of the inferred resource to drill indicated status.

At the Pidgeon Molybdenum Deposit property, the drill core is sawn into halves with one-half being sent for analysis and the other kept for future reference. All samples were prepared and analyzed at TSL Analytical Labs in Saskatoon using a four-acid digestion. A stringent program quality control was employed throughout with duplicates, standards and blanks being entered into the sample stream at 30 sample intervals.

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 molybdenum and precious metal 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.


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)