MPH Ventures Corp. : MPH Ventures Acquires the North Albany Graphite Property Adjacent to Zenyatta Ventures Discovery, North...
01 Agosto 2013 - 2:00AM
Suite 1610 - 777 West Dunsmuir
Street, Vancouver, BC, Canada, V7Y 1K4
www.mphventurescorp.com
TSX Venture Exchange Symbol: MPS Email: info@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@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
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