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News
17.09.2009
MPH Ventures Acquires Three Gold Properties in Timmins, NE Ontario
MPH Ventures Acquires Three Gold Properties in Timmins, NE Ontario
Vancouver, BC – MPH Ventures Corp. (TSX-V: MPS) (FWB: IJA1) (the “Company”) is pleased to announce that it has entered into an Acquisition Agreement with certain vendors (the “Vendors) to acquire a 100% interest in three contiguous gold exploration properties referred to as the Godfrey Gold property comprised of approximately 700 acres located in the Godfrey and Bristol Townships, Timmins Mining Division of northeastern Ontario.
Godfrey Gold property location map:
http://www.mphventurescorp.com/i/maps/MPS-Timmins-Area-Map.jpg
The Godfrey Gold property is located 20 km west of Timmins, Ontario and 9 km northwest of the Lakeshore Gold Timmins Mine. The property covers several historical gold occurrences. Previous operators exposed a 125 metre long trench within a highly altered felsic intrusion. Multiple quartz veins and shear structures contain pyrite, chalcopyrite, galena and visible gold with grab sample assay results up to 13.8 oz/t Au (386.4 g/t Au). A sampling program in 2008 returned high grade gold results including 1.5 oz/t Au and 0.79 oz/t Au from grab samples.
MPH Ventures has not yet completed the work necessary to verify the historical results and since they are historical in nature and are non-compliant with NI 43-101, the results should not be relied upon.
An exploration program consisting of line cutting, mechanical trenching and ground geophysics is planned for the Godfrey Gold property this fall to be followed by a drilling program.
Todd Keast, PGeo., is the qualified person under the meaning of National Instrument 43-101 and has reviewed the data in this News Release.
Pursuant to the terms of the Agreement, the Company has agreed to pay the sum of $10,000 and issue an aggregate of 1,500,000 common shares to the Vendors in accordance with their respective interests in the Godfrey Gold property. The property is subject to a 2% net smelter return royalty (the “NSR”) in favour of the Vendors. MPH Ventures has been granted a right to purchase one-half of the NSR on the Godfrey Gold property by paying the Vendors the sum of $1,000,000 for the 1% NSR acquired.
The above transaction is subject to the acceptance of the TSX Venture Exchange.
MPH Ventures Corp. is a gold and molybdenum 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 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.
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA6247331011
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Vancouver, BC – MPH Ventures Corp. (TSX-V: MPS) (FWB: IJA1) (the “Company”) is pleased to announce that it has entered into an Acquisition Agreement with certain vendors (the “Vendors) to acquire a 100% interest in three contiguous gold exploration properties referred to as the Godfrey Gold property comprised of approximately 700 acres located in the Godfrey and Bristol Townships, Timmins Mining Division of northeastern Ontario.
Godfrey Gold property location map:
http://www.mphventurescorp.com/i/maps/MPS-Timmins-Area-Map.jpg
The Godfrey Gold property is located 20 km west of Timmins, Ontario and 9 km northwest of the Lakeshore Gold Timmins Mine. The property covers several historical gold occurrences. Previous operators exposed a 125 metre long trench within a highly altered felsic intrusion. Multiple quartz veins and shear structures contain pyrite, chalcopyrite, galena and visible gold with grab sample assay results up to 13.8 oz/t Au (386.4 g/t Au). A sampling program in 2008 returned high grade gold results including 1.5 oz/t Au and 0.79 oz/t Au from grab samples.
MPH Ventures has not yet completed the work necessary to verify the historical results and since they are historical in nature and are non-compliant with NI 43-101, the results should not be relied upon.
An exploration program consisting of line cutting, mechanical trenching and ground geophysics is planned for the Godfrey Gold property this fall to be followed by a drilling program.
Todd Keast, PGeo., is the qualified person under the meaning of National Instrument 43-101 and has reviewed the data in this News Release.
Pursuant to the terms of the Agreement, the Company has agreed to pay the sum of $10,000 and issue an aggregate of 1,500,000 common shares to the Vendors in accordance with their respective interests in the Godfrey Gold property. The property is subject to a 2% net smelter return royalty (the “NSR”) in favour of the Vendors. MPH Ventures has been granted a right to purchase one-half of the NSR on the Godfrey Gold property by paying the Vendors the sum of $1,000,000 for the 1% NSR acquired.
The above transaction is subject to the acceptance of the TSX Venture Exchange.
MPH Ventures Corp. is a gold and molybdenum 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 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.
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA6247331011
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.