Skip to content
About | Contact | Advertise | Manage Subscriptions
  1. Home
  2. Around the North

'Moly' deposit edges closer to open pit mine

Step-out exploration drilling by MPH Ventures has increased the size of its molybdenum deposit in northwestern Ontario. The Vancouver miner reports a second round of drilling at its Pidgeon deposit at Lateral Lake, northeast of Dryden. In a Sept.
Northern Ontario Business Staff

Step-out exploration drilling by MPH Ventures has increased the size of its molybdenum deposit in northwestern Ontario.

The Vancouver miner reports a second round of drilling at its Pidgeon deposit at Lateral Lake, northeast of Dryden.

In a Sept. 29 company release, drilling indicates the known 'moly' zone is open along several trends to the west and suggests "significant new tonnage" can also be developed in that direction.

The company says these latest results has surpassed its goal of achieving a 20-million tonne deposit with an average grade of 0.10 per cent of a drill indicated resource. They are submitting their data for an updated Ni 43-101 compliant resource evaluation and are preparing a winter drill program to further define the deposit.

The company believes the project has open pit potential, especially with an all-weather road crossing the property and the Canadian National Railway main line only 10 km to the north.