MPH Ventures Corp. : MPH Ventures Acquires the North Albany Graphite Property Adjacent to Zenyatta Ventures Discovery, Northern Ontario
(Thomson Reuters ONE) -
Suite 1610 - 777 West Dunsmuir Street, Vancouver, BC, Canada, V7Y 1K4
www.mphventurescorp.com
TSX Venture Exchange Symbol: MPS
Email: info(at)mphventurescorp.com
August 1, 2013
Vancouver, BC - MPH Ventures Corp. (TSX-V: MPS) (OTC Grey: MPSFF) (Frankfurt:
IJA1) has acquired a 100-per-cent interest in the North Albany Property
consisting of 16 mineral claims covering approximately 256 hectares located
within the Porcupine district of Northern Ontario, contiguous to the north of
Zenyatta Ventures Ltd.'s (TSX-V: ZEN) Albany (vein type) graphite deposit
discovery.
Zenyatta recently announced intervals of 146 metres of 5.2 per cent graphite,
177 metres of 5.3 per cent graphite, 186 metres of 4.9 per cent graphite and
125 metres of 4.6 per cent graphite, respectively (see Zenyatta Ventures news
release dated July 2, 2013).
Zenyatta is in the early stages of exploring and developing a very high grade
hydrothermal breccia pipe hosted graphite deposit it discovered in 2011 in
northern Ontario, Canada. The graphite forms the matrix of the well-developed
beccia pipe. It is the largest and only known graphite deposit of this type
under development in the world. Hydrothermal graphite is the purest graphite and
commands a higher price than flake or amorphous. Uses today for graphite include
electric cars, tablets and smart phones, among others. Global demand for high
purity graphite is growing.
The breccia pipe that was discovered by Zenyatta is concealed by glacial till
and a thin horizon of limestone. Lack of abundant outcrop in the region is
likely to contribute to increased exploration potential for similar occurrences
by using various airborne geophysical methods including magnetics and EM.
The fact the developing occurrence at Albany is contained within a robust
breccia pipe feature is also highly encouraging for the regional exploration
potential as breccia pipes of the scale being explored by Zenyatta commonly
occur as clusters, within the prospective area.
MPH Ventures President Jim Pettit stated, "The Company feels this is a great
acquisition and is complimentary to MPH Ventures other projects all located in
northern Ontario. This now gives MPH Ventures exposure to one of the best new
discoveries in Ontario. MPH Ventures now has projects with interests in gold,
base metals, and specialty (industrial) minerals".
MPH Ventures primary asset the 3,420 acres Pidgeon Molybdenum Deposit located in
Northwestern Ontario which was acquired from BHP Billiton and Goldcorp with a
significant NI 43-101 molybdenum resource. The Company has completed two drill
programs to date totaling approximately 100 drill holes. The project is
accessible year round and development plans include increasing the resource base
which remains open in all directions, conducting regional exploration and
carrying out metallurgical testing for recovery of molybdenum and by-products.
The Company also owns 100% of three non-contiguous gold exploration properties
located in Timmins Northeastern Ontario. These properties are located throughout
various mineral rich mining camps and include the Godfrey Gold property in West
Timmins, the Raney gold project and the grass roots exploration Shining Gold
property.
Robert Marvin, P.Geo., CPG, Company geologist for MPH Ventures is the Qualified
Person as defined by National Instrument 43-101 and has approved the technical
information in this release
Transaction Terms:
In consideration for the North Albany property, MPH Ventures will pay $15,000
and will issue 3 million common shares in the capital of the Company to arm's-
length vendors. This agreement is subject to approval of the TSX Venture
exchange.
About MPH Ventures Corp.:
MPH Ventures Corp. is a molybdenum, graphite and gold exploration company
focused on mineral development within Canada.
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
For further information contact myself or:
Don Myers
MPH Ventures Corp.
Director
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info(at)mphventurescorp.com
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 release includes certain statements that may be deemed to be "forward-
looking statements". All statements in this release, other than statements of
historical facts, that address events or developments that management of the
Company expects, are forward-looking statements. Although management believes
the expectations expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of future
performance, and actual results or developments may differ materially from those
in the forward-looking statements. The Company undertakes no obligation to
update these forward-looking statements if management's beliefs, estimates or
opinions, or other factors, should change. Factors that could cause actual
results to differ materially from those in forward-looking statements, include
market prices, exploration and development successes, continued availability of
capital and financing, and general economic, market or business conditions.
Please see the public filings of the Company at www.sedar.com for further
information.
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
[HUG#1720333]
Unternehmensinformation / Kurzprofil:
Datum: 01.08.2013 - 09:00 Uhr
Sprache: Deutsch
News-ID 283786
Anzahl Zeichen: 6925
contact information:
Town:
Vancouver, BC
Kategorie:
Business News
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