MONTRÉAL, Aug. 16, 2018 (GLOBE NEWSWIRE) -- M.P.V. Explorations Inc. (the “Company” or “MPV”) (CSE: MPV) is pleased to announce the results of its first diamond drilling campaign on its UMEX Property, completed in June 2018.
Highlights:
UMX-18-07: 9.10 meters at 2.20 % Cu; 4.05 %Zn; 1.74 g/t Au; 62.41 g/t Ag
UMX-18-06 : 4.75 meters at 1.93 % Cu; 3,93 % Zn; 0.97 g/t Au; 47.67 g/t Ag
UMX-18-09 : 4.55 meters at 1.02 % Cu; 1.19 % Zn; 0.5 g/t Au; 18.09 g/t Ag
This drilling program aimed to confirm the historical grades in Cu-Zn-Au-Ag obtained by Union Minière Exploration in 1969 and SOQUEM at the beginning of the 70’s.
Nine (9) diamond drilling holes were drilled for a total of 1200 meters during the June 2018 program. The results of UMX-18-05 to 09 intersected a lens of massive sulphides over 0.95 to 9,10 meters . This VMS lens is essentially composed of pyrite, pyrrhotite with 1-15% of chalcopyrite, 1-20% sphalerite and 1% galena. The results of UMX-18-01 to 04 were not significant but that allowed the drilling team to gather the technical information necessary to direct the subsequent drill holes and localise the lens more precisely. We need to recall that the original discovery of this lens dates back to the early 70s, with only historical local grid map coordinates as geographical markers without any GPS.
| Results from drill holes with significant results: | |||||
| # Hole | From | to | length (m.) * | Composite | |
| UMX-18-05 | 123.60 | 126.00 | 2.40 | 1.12 % Cu; 2.87 % Zn; 1.02 g/t Au; 44 g/t Ag; | |
| including | 124.05 | 125.70 | 1.65 | 1.52 % Cu; 4.16 % Zn; 1.41 g/t Au; 62.35 g/t Ag | |
| UMX-18-06 | 144.45 | 149.20 | 4.75 | 1.93 % Cu; 3.93 % Zn; 0.97 g/t Au; 47.67 g/t Ag | |
| including | 144.95 | 148.70 | 3.75 | 2.36 % Cu; 4.54 % Zn; 1.16 g/t Au; 58.28 g/t Ag | |
| UMX-18-07 | 44.30 | 53.40 | 9.10 | 2.2 % Cu; 4.05 % Zn; 1.74 g/t Au; 62.41 g/t Ag | |
| including | 48.75 | 51.40 | 2.65 | 3.66 % Cu; 5.15 % Zn; 3.28 g/t Au; 76.73 g/t Ag | |
| UMX-18-08 | 41.40 | 42.35 | 0.95 | 1.06 % Cu; 6.95 % Zn; 0.38 g/t Au; 63.99 g/t Ag | |
| UMX-18-09 | 152.40 | 156.95 | 4.55 | 1.02 % Cu; 1.19 % Zn; 0.5 g/t Au; 18.09 g/t Ag | |
| including | 155.00 | 156.50 | 1.50 | 2.61 % Cu; 2.74 % Zn; 1.15 g/t Au; 48.36 g/t Ag | |
| * Core length | |||||
During the drilling campaign, the VMS lens was laterally intersected over 140 meters (fig.1) and vertically over 125 meters (fig.2). The conductive anomaly of Max-Min type which coincides with the lens measures almost 900 meters long.
After the drilling campaign, a Borehole EM geophysical survey was conducted, showing possible extensions oriented both East-West, and is still open at depth.
Jean-François Perras, President and CEO of MPV declared: « The results of this program of preliminary drilling were beyond our expectations. It was very important for us to precisely locate the historical UMEX discovery and replicate the previous results. Based on this initial success we can now plan the following phases of our exploration program and expand our outlook to the rest of the property».
Two figures accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/Attachm...6ae1c42e8e
http://www.globenewswire.com/NewsRoom/Attachm...d250ea9a5a
Quality Insurance and Quality Control
The diamond drilling campaign was planned and supervised by Laurentia Exploration, a company of independent consultant in mining exploration based in Saguenay-Lac-St-Jean, including the description and sampling of the surveys. Core sample were sawed in two: half was put in a bag which was numbered and sealed. The second half was kept for future reference in a secure, enclosed, padlocked and filmed facility.
The protocol QA/QC contained the incorporation of Standards (2 types were used) and of Blank for every lot of 25 samples sent to the laboratory. All the samples were sent at ALS MINERALS in Val-D’Or Quebec. The preparation was made in their laboratory of Sudbury, Ontario whereas analyses were completed in the laboratory of Vancouver, British Columbia. All the samples were analyzed with the method ME-ICP41 (Aqua regia ICP-EAS 35 elements). Samples presenting contents > 1,0 % Cu-Zn and > 100 ppm Ag was re-analysed with the method OG46 (aqua regia). Gold grades were established by the method Au-AA23, pyro-analysis with a finish of atomic absorption.
Qualified person
The technical content of this news release has been reviewed, prepared and approved by Mr. Hugues Guérin-Tremblay, P.Geo (OGQ #1584) and is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). Mr. Guérin is independent of the company and is declaring that the historical estimate uses terminology which does not conform to current NI 43-101 standards. The 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.
About M.P.V. Explorations Inc. (MPV)
MPV 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 and gold enriched project, which is located approximately 50 kilometers West of the town of Chapais on traditional Eeyou Istchee Territory. It is accessible directly from a paved road and less than 1 km away from a major electrical distribution station. It covers about 40 km 2 over a length of 16.8 kilometers. The documented mineralization on the UMEX property consist of volcanic massive sulphides (VMS) of about 450 000 tons grading 1,35% Cu, 2% Zn and 38 g/t Ag. NB. 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 property is located within the Abitibi Greenstone Belt, which is known for its numerous precious metals and polymetallic deposits.
Cautionary Statement
Certain statements contained in this press release constitute forward looking information under the provisions of Canadian securities laws. Forward looking information contained in this press release includes statements with respect to the potential mineralization and geological merits of the UMEX project. These statements are subject to a variety of risks and uncertainties including, without limitation: risks and uncertainties relating to the interpretation of geological data; the possibility that future exploration results will not be consistent with the Company’s expectations; risks related to the ability to obtain financing needed to fund the exercise of the option and the exploration and development of the project; market conditions and volatility and global economic conditions; and several risks related to the nature of mineral exploration and development. Such statements reflect the Company’s views as at the date of this press release. The Company does not intend and does not assume any obligation to update these forward-looking statements and information, except as required by law.
For further information, please contact:
Jean-Francois Perras, President and CEO M.P.V. Explorations Inc. (514) 667-7171
We seek safe harbour!
