KELOWNA, BC, May 22, 2014
/CNW/ - MPVC Inc. (TSXV : UNO) ("MPVC", the "Company")
is pleased to report that the RAB drill has now arrived on site at
the Company's Northwest Manitoba Uranium project which was recently
optioned from CanAlaska Uranium Limited.
RAB Drill
A rotary air blast (RAB) drill rig has now arrived at the
Maguire Lake focus area within the Company's Northwest Manitoba project. This drill
will focus on rapidly testing shallow targets generated by the
geophysical (magnetic, electromagnetic, gravity and radiometric),
geochemical (AlphaTrack and RadonEx) and prospecting
programs. Initially, targets beneath the lake are being
tested while winter conditions exist.
Core Drilling
The core drill is now drilling vertical holes to test targets
located beneath Maguire Lake making use of the late season
ice. The first hole was called off at 51 meters prior to
reaching bedrock due to technical difficulties in penetrating the
overburden.
The second hole reached bedrock at 41.2 meters (9.1 meters of
water 32.1 meters of overburden). From 41.2 meters to the end
of hole at 114 meters granoblastic semi-pelite with minor
biotite-rich pelite and K-feldspar pegmatite was intersected.
In the upper part of the hole clay, chlorite, epidote and local
hematite/limonite alteration increase downward to a depth of
approximately 90 meters. Weak to moderate bleaching was
pervasive from 69.5 to 74.8 meters and 77.8 to 78.5
meters.
Though significant uranium mineralization was not detected using
a hand held gamma ray spectrometer samples of the core are now
being tested for radon, "young" uranium and lead 210 which, if
present, could signal the presence of uranium mineralization at
greater depths.
The Company is encouraged by:
- the bedrock geology being similar to the pelitic gneiss which
hosts the mineralization at Fission Uranium Corp's Patterson Lake South deposit;
- alteration similar to what would be expected in the vicinity of
unconformity style uranium mineralization; and
- the high degree of fracturing and brecciation in the core
showing the potential for the movement of mineralizing fluids.
The third hole is now underway and is at a depth of 53 meters in
overburden.
Northlands Denesuline First Nation
MPVC has received a letter of support from the Northlands
Denesuline First Nation for the one year drill permit application
lodged with the government of Manitoba. The Company's project
is located within the traditional territory of the Northlands
Denesuline First Nation and MPVC looks forward to building upon the
relationship with Northlands.
The technical information and results reported here have been
reviewed by Chad Ulansky, PGeol, a
qualified person under National Instrument 43-101, who is
responsible for the technical content of this release.
Dr. Charles Fipke
Consultant Geologist
Forward Looking Statements
Some of the statements contained herein may be forward-looking
statements which involve known and unknown risks and
uncertainties. Without limitation, statements regarding
potential mineralization and resources, exploration results, and
future plans and objectives of the Company are forward looking
statements that involve various risks. The following are
important factors that could cause the Company's actual results to
differ materially from those expressed or implied by such forward
looking statements: changes in the world wide price of mineral
commodities, general market conditions, risks inherent in mineral
exploration, risks associated with development, construction and
mining operations, the uncertainty of future profitability and the
uncertainty of access to additional capital. There can be no
assurance that forward-looking statements will prove to be accurate
as actual results and future events may differ materially from
those anticipated in such statements. MPVC undertakes no
obligation to update such forward-looking statements if
circumstances or management's estimates or opinions should change.
The reader is cautioned not to place undue reliance on such
forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE MPVC Inc.