MPH Ventures to Purchase Godfrey Gold Property in Canada

20 September 2009 (Last Updated September 20th, 2009 18:30)

MPH Ventures has entered into an agreement to acquire the Godfrey Gold property in north-eastern Ontario, Canada. The Godfrey Gold property contains three gold exploration properties across 700 acres of land in the Bristol and Godfrey Townships in the Timmins Mining Division.

MPH Ventures has entered into an agreement to acquire the Godfrey Gold property in north-eastern Ontario, Canada.

The Godfrey Gold property contains three gold exploration properties across 700 acres of land in the Bristol and Godfrey Townships in the Timmins Mining Division.

Under the agreement, MPH Ventures will pay $10,000 and issue 1,500,000 common shares to the vendors in line with their respective stakes in the Godfrey Gold property.

An exploration programme, consisting of line cutting, mechanical trenching and ground geophysics will be carried out at the property in the next few months followed by a drilling programme, the company said.