(TSX-V:
MPS)
December
27, 2007
NEWS RELEASE
2007 Drilling
Completed on Pidgeon Molybdenum Deposit
Project,
NW
Ontario
Vancouver,
BC – MPH Ventures Corp. (TSX-V:
MPS) (the “Company”) reports that it
completed 7 drill holes totaling 1210 metres by year end at its Pidgeon
Molybdenum Deposit project, District of
Kenora, Northwestern Ontario. This current drill program is scheduled to
resume early January 2008 and will comprise a significant program of infill
drilling to improve the confidence of the molybdenum resource to a level
sufficient for an economic assessment.
Pidgeon
Molybdenum Deposit claims map:
http://www.mphventurescorp.com/s/Image.asp?i=maps/MPS-ON-Pidgeon-area-map.gif
"We
look forward to the continuation of our drill program at the Pidgeon Molybdenum
Deposit project, which should advance the
project to the next level", stated MPH Ventures President Jim Pettit. "We
have a fully winterized camp to support our drilling activities and a strong
cash position to aggressively pursue this exciting project" stated Mr.
Pettit.
The
Pidgeon Molybdenum Deposit property comprises approximately 3,420 acres of
mineral claims situated approximately 50 kilometres east from the city of
Dryden, District of Kenora, Northwestern Ontario. This 10,000 metre diamond
drill program has been designed to verify and confirm the historic data
recently compiled by Wardrop Engineering Inc. At this time all samples have
been submitted for analysis to the TSL laboratory and MPH Ventures expects to
have the first batch of results available for release early in the New Year.
MPH
Ventures received in November 2007 a National
Instrument 43-101 standard resource estimate from Wardrop Engineering
Inc. (“Wardrop”) based on historical data. Wardrop has determined
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.
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 NI 43-101 standards and therefore could not
be relied upon.
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 MPH Ventures 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.
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.V: MPS) visit the Company’s web site at www.mphventurescorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS
“Jim Pettit”
________________________________
JAMES G. PETTIT
President
Share Outstanding
23.6 million
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