MPH Ventures Expands the Raney Gold Project Based on Preliminary Drilling and Up
posted on
Jun 04, 2009 05:25AM
Edit this title from the Fast Facts Section
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 4, 2009) - MPH Ventures Corp. (TSX VENTURE:MPS) (FRANKFURT:IJA1) (the "Company") reports claim staking to expand the 100% owned Raney Gold Project in North-eastern Ontario has been completed. The decision to expand the claim was made based on the preliminary drilling and the upward restating of results on hole RAN-08-04 which intersected from 108.0 metres to 114.8 metres and included results of 7.73 g/t Au over 6.80 metres (see news release May 28, 2009).
A total of six claims (72 units) covering 1,152 hectares were acquired east and west of the Raney Gold Zone, which now covers 4.75 km of projected strike extent of the alteration system.
MPH Ventures has now completed the drilling, logging and splitting of two diamond drill holes with samples currently in the lab for analysis. The holes were designed to test the alteration zone at the 100 metre level, while at the same time extending the zone to the east and west.
Raney gold project drill hole location map: http://www.mphventurescorp.com/i/map...
Hole RAN-09-06 was drilled 25 metres east of RAN-99-01 (see map on web site) and intersected a 15 metre wide zone containing pervasive carbonate/sericite alteration, quartz veining and fine sulphides. Hole RAN-09-07, drilled 25 metres west of RAN-08-04, intersected the zone with similar width and alteration intensity.
MPH Ventures president Jim Pettit commented "We are very pleased with both holes from our first drill program on the Raney. The assay results will confirm the gold tenor of the zone, however, we are encouraged to have traced the alteration system along a 100 metre long trend. Based on these early observations it was apparent we needed to secure additional claims."
The exploration program is being carried out under the direction of Todd Keast, PGeo. The information in this news release was prepared by Todd Keast, PGeo., a qualified person as defined by National Instrument 43-101.
MPH Ventures Corp. is a gold and molybdenum exploration company focused on mineral development within Canada.
For further information on MPH Ventures Corp. (TSX VENTURE:MPS) visit the Company's web site at www.mphventurescorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS
JAMES G. PETTIT, President