VANCOUVER, BC--(Marketwire - Sep 13, 2012) -
Suite 2230 - 885 West Georgia Street, Vancouver, BC, Canada, V6C 3E8
www.mphventurescorp.com
TSX Venture Exchange Symbol: MPS
Email: info@mphventurescorp.com
September 13, 2012
Vancouver, BC - MPH Ventures Corp. (TSX-V: MPS) (OTC Pink: MPSFF)
(Frankfurt: IJA1) (the "Company") is pleased to announce that it has filed a National
Instrument 43-101 ("NI 43-101") Technical Report for its 3420 acre Pidgeon
Molybdenum Project (the "Property") located approximately 50 kilometres
east
from the city of Dryden in the District of Kenora, Northwestern Ontario.
The independent technical report, entitled "Pidgeon Molybdenum Project
National
Instrument 43-101 Compliant Technical Report" (the "Technical Report") and
dated
July 05, 2012 was prepared for MPH by Cliff Duke, P.Eng. of Riverbend
Geological
Services Inc. ("Riverbend") of Beausejour, Manitoba. The Technical Report
is
available under MPH's profile on SEDAR at www.sedar.com and the full report
is
available on the Company's website at
http://www.mphventurescorp.com/i/pdf/Pidgeon-NI-43-101.pdf and
http://www.mphventurescorp.com/i/pdf/Pidgeon-App_A-07-12.pdf
Pidgeon Molybdenum Mines Ltd. (PMML), a wholly owned subsidiary of MPH
Ventures
Corp., holds a 100% interest in a contiguous group of 13 mineral claims
under a
mining lease and 3 additional patented claims attached to the lease. The
Company
also owns 100% of four mineral claims, acquired by staking, and a 100%
interest
in 10 additional claims, acquired pursuant to an option agreement. Both
groupings surround the mining lease and collectively these land positions
make
up the Property.
Pidgeon Molybdenum Deposit Location Map:
http://www.mphventurescorp.com/s/Image.asp?i=maps/MPS-ON-Pidgeon-Fig_41.gif
In 2007 Wardrop Engineering Inc. ("Wardrop") was commissioned to prepare an
NI
43-101 compliant technical report for the Pidgeon Molybdenum deposit.
Wardrop
reviewed the historical data and estimated that the Pidgeon Molybdenum
deposit
contained an inferred resource of 8.5 million tonnes grading 0.099%
Molybdenum
(Mo). Since acquiring the project in 2007, the Company has drilled 47 holes
on
the project, 36 of which encountered significant molybdenum mineralization.
The
Technical Report prepared by Riverbend provides an independent updated
resource
estimation of the Pidgeon Molybdenum deposit. The updated NI 43-101 report
estimated the resource of the Pidgeon Molybdenum deposit to contain 2.66
million
tonnes of 0.117% Mo (6,856,000 lbs. Mo) in the Indicated resource
classification
and 12.39 million tonnes of 0.083% Mo (22,658,000 lbs. Mo) in the Inferred
resource classification, both at a cutoff grade of 0.04% Mo.
The Technical Report also states that the Pidgeon deposit has the potential
to
be a large tonnage, low grade molybdenite deposit amenable to open pit
mining
methods. The deposit is open at both the west and east ends, as well as at
depth. In addition, Riverbend noted the presence of molybdenite in a 1966
Rio
Tinto drill hole, some 1.5 kilometres east of Lateral Lake. The west lens
of the
deposit was not tested in the most recent drill programs. The report
recommends
that MPH spend an additional $444,000 to drill 20 additional holes to test
the
west lens, and extend the limits of the deposit at both the east and west
ends.
If the results of this drilling are favourable, the Technical Report
recommends
a second phase of drilling consisting of 60 diamond drill holes to better
define
grade continuity at an estimated cost of $1,350,000. The Company is
currently
evaluating the Pidgeon Molybdenum Project as well as its other exploration
properties and will make a decision on the direction the Company pursues
with
regards to its next round of exploration.
Qualified Person:
The Technical Report was prepared by Cliff Duke, P.Eng., of Riverbend
Geological
Services Inc. in accordance with National Instrument 43-101. Cliff Duke is
a
"Qualified Person" as defined by NI 43-101.
The Technical Report and mineral resource estimate was reviewed by Robert
Marvin, P.Geo., CPG, who is a "Qualified Person" according to the
definitions of
NI 43-101. Bob has supervised and reviewed the preparation of the technical
information and data included in this news release.
About MPH Ventures Corp.:
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
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER
ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS
RELEASE.
This news release may contain certain "Forward-Looking Statements" that may
involve a number of 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. For a more
detailed
discussion of such risks and other factors, refer to the Company's filings
with
Canadian Securities regulators available on www.sedar.com.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: MPH Ventures Corp. via Thomson Reuters ONE
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