TTM drills 216 m of 0.096% Mo, 28 m of 0.205% Mo at Chu
TTM Resources Inc (C:TTQ)
Shares Issued 36,762,001
Last Close 7/10/2007 $1.27
Wednesday July 11 2007 - News Release
Mr. W.K. Crichy Clarke reports
TTM RESOURCES INC.: CHU PHASE 2 PROGRAM INTERSECTS ADDITIONAL HIGH GRADE MO IN HOLE 07-16-0.096% MO OVER 216.4 METERS INCLUDING 0.205% MO OVER 28.7 METERS
TTM Resources Inc. has assay results for an additional two diamond drill holes from the phase 2 drill program at its 100-per-cent-owned Chu molybdenum project 65 kilometres southwest of Vanderhoof, B.C. The current results, drilled from setups permitted during phase 1, demonstrate vertical continuity of the molybdenum-rich mineralized zone intersected in previous drilling.
CHU 07-16 was drilled across the deposit on Section 4-20 West to investigate the 250-metre gap in depth between drill holes CHU 06-01 and 82-2, both of which bottomed in good molybdenite mineralization. Drill hole CHU 07-16, drilled longer than these two holes, returned 216.4 metres grading 0.096 per cent Mo from 343.5 metres to 559.9 metres, indicating that the zone on this profile is approximately 50 metres wider than previously thought. This hole included a high-grade interval of 28.7 metres grading 0.205 per cent Mo from 453.1 metres to 481.8 metres.
CHU 07-15 was drilled across the deposit approximately 560 metres southeast of CHU 07-16 and defined the near-surface mineralized zone 200 metres above phase 1 hole CHU 06-12. This returned an interval of 213 metres grading 0.061 per cent Mo including intervals of 33.5 metres grading 0.076 per cent Mo and 66.5 metres grading 0.086 per cent Mo. The hole was lost at 397 metres due to bad ground conditions in strong molybdenite mineralization.
Drill CHU Hole 07-17 is complete and assays are pending. The bottom of the hole encountered porphyry-style molybdenite mineralization in an intrusive with strong silicification and potassic alteration not seen in drill core before at CHU. This intrusive may represent the source of the molybdenum-copper mineralization present in the stockwork in the adjacent hornfelsed sediments, intercalated granodiorite and volcanic host rocks. Hole CHU 07-18 is currently being drilled and is expected to be completed in the next few days. Drill results from both holes will be released once assay results have been received.
A drill capable of reaching greater depths has been moved to the property by Falcon Drilling, as all areas of the property are open at depth. The company intends a series of deep holes to attempt to establish the depth of the mineralization.
Grid cutting has been completed with approximately 75 kilometres of line cut. An induced polarization geophysical survey is also complete. This was done to confirm the existing mineralization and view the surrounding area. The final report will be received in due course.
Copper is generally present in a 1:1 ratio with molybdenum in drill holes from the CHU property. For holes drilled in a southwesterly direction (CHU 07-15 and CHU 07-16), true widths are estimated to be between 60 per cent to 80 per cent of reported widths depending on the dip of the hole. A drill plan map is provided on the company's website.
Terrace project update
Edcon PRJ will be flying an aeromagnetic survey on this property next week to assist in planning this summer's exploration program.
Analyses of samples from the current program are completed at Eco-Tech Laboratories in Kamloops, B.C. Quoted intercepts are based on analytical analyses for copper and molybdenum. Full assays for molybdenum were run on any molybdenum analyses that exceeded 500 parts per million. The company has in place a comprehensive quality assurance/quality control program including standards, blanks and duplicate samples that form part of the sampling protocol. In addition, the laboratory has its own quality assurance program. The field program is supervised by Richard Beck, BSc geology, and Anastasia Ledwon, BSc geology, of Hungry Hill Geological Ltd. of Telkwa, B.C. The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101. The technical information provided in this press release was reviewed by Charles Ikona (PEng), a qualified person for the purposes of NI 43-101.
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