M.P.V. Explorations starts its first drilling campaign on UMEX
M.P.V. Explorations Inc. (the “Company” or “MPV”) (CSE:MPV) is pleased to announce that a 1000 meter diamond drilling campaign has started on the West Bloc section of the UMEX Property, located in the sector of Chapais, Québec, Canada.
The Company plans to drill (6) holes for a total of a 1000 meters. The main objective will be to validate a previous historical discovery made by UNION MINIERE EXPLORATION in 1969 and SOQUEM in 1973-1974. This historical estimate had originally identified 450,000 tons grading 1.35% copper (Cu), 2.0% zinc (Zn) and 38 g/t silver (Ag), contained within a volcanic massive sulphide (“VMS”) lens. N.B. The historical estimate uses terminology which does not conform to current NI 43-101 standards. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. Although the historical estimates are believed to be based on reasonable assumptions, they were calculated prior to the implementation of National Instrument NI 43-101.
The Company will also drill a minimum of one additional hole, to test one of the geophysical anomalies identified during MPV’s last ground survey (Max-Mine and Magnetic).
This drilling campaign at the UMEX Property is the first phase of the Company’s exploration program as detailed in its IPO prospectus, which is budgeted at a total of $253,750.
Jean-François Perras, President and CEO of M.P.V. Explorations declared: "We are excited to begin our first drilling campaign, the results of this phase 1 will allow us to validate the grades obtained by SOQUEM on the UMEX property in the early 70s with modern exploration methods; the resulting data will be necessary for planning of our future steps."
Technical information provided in this news release was prepared and reviewed by Hugues Guérin-Tremblay, P.Geo., qualified person as defined by NI 43-101. Mr. Guérin-Tremblay is independent of the Company.
About M.P.V. Explorations Inc.
M.P.V. Explorations Inc. is a mineral exploration company focused on base metals projects in the Chibougamau region of Northern Quebec. Its main asset is the UMEX Copper-Zinc project, which is located approximately 50 kilometers West of the town of Chapais on traditional Eeyou Istchee Territory and covers a total 4,000 hectares over a lateral length of 16.8 kilometers. Documented mineralization on the UMEX property consist of volcanic massive sulphides (VMS) within the Abitibi Greenstone Belt, which is known for its numerous precious metals and polymetallic deposits.