TTM Resources Inc. - High Grade Molybdenum in CHU 07-19 Interval Increased to 504.0 Meters of 0.109% Mo
00:16 EDT Monday, September 17, 2007
VANCOUVER, British Columbia (Business Wire) -- W. K. Crichy Clarke, President and CEO of TTM Resources Inc. ("TTM" or the "Company") (PINK SHEETS: TTMRF) (TSX VENTURE: TTQ) (FWB: T2U), is extremely pleased to announce assay results for drill hole CHU 07-20 and complete results from CHU 07-19 from the Phase 2 drill program at its 100% owned Chu Molybdenum Project 65 Km Southwest of Vanderhoof, British Columbia, Canada.
As previously reported on August 22, 2007, "The immediate object of the current Phase 2 drill program is to define sufficient tonnages of high-grade, near-surface Mo mineralization in the hole 07-19 and 07-13 areas, which could be considered as open pit material." In order to help distinguish these two areas, the results will henceforth be named and reported on as CHU WEST, representing the 07-19/06-06 area, and CHU EAST, representing the 07-13/07-14/06-10/06-12 area 750 meters to the southeast.
Drill hole CHU WEST 07-20 was drilled at an Azimuth 250 degrees and a dip angle of -45 degrees to test the width of the quartz-molybdenum stockwork zone which strikes northwest and hosts the significant molybdenum mineralization at CHU over the discovery's 1700 meter length. It entered the stockwork zone at 68.6 meters, returned 0.127% Mo over the next 109 meters. Lower grade molybdenum values of 0.05% Mo were encountered over the next 71 meters before exiting the stockwork zone.
Assay results for the final 170 meters of CHU WEST 07-19 have been received and the significant interval is re-stated here as 504 meters grading 0.109% Mo from 101 to 605 meters. CHU WEST 07-19 was drilled at an azimuth of 270 degrees and a dip of -70 degrees to test the effect of north-south trending "feeder" structures cutting through the main northwest trending quartz-molybdenum stockwork zone.
CHU 07-20 was oriented to provide an estimate of the width and grade of the stockwork zone while CHU 07-19 was oriented to provide information on its grade, strike length, and depth.
CHU 07-21 and CHU 07-22 are complete and pending assay results and CHU 07-23 is in progress. All of these holes were drilled at a dip angle of -45 degrees to test for additional near surface high grade molybdenum mineralization in this area.
The second drill rig started on September 13, 2007, in the CHU EAST area (CHU-E00l currently at a depth of approximately 200 meters) and is testing the main stockwork zone where CHU 06-13 encountered 384 meters grading 0.096% Mo, CHU 06-11 encountered 101 meters of .098% Mo, and CHU 06-12 encountered 89 meters of .113% Mo to the southeast of the CHU WEST drilling area. A number of holes are planned in this area as it appears to indicate the same type of structures as the CHU WEST zone. The program will test depth as well as length and width.
The IP survey covering the existing area, as well as some areas of the property that have not been tested as yet, is expected to start the week of September 24th, 2007, in an effort to better understand the existing and surrounding areas of the property.
A Drill Plan map is provided on the Company's website at ttmresources.ca
Financial Position
The Company would also like to take this opportunity to clarify its financial position. The proceeds of the previously reported April 2007 Private Placement, were invested in Bank of Montreal Government Investment Certificates. The Company has absolutely no investment risk associated with any of its shareholder equity.
Terrace Update
The Company is in receipt of the initial interpretation of the Air Magnetics Survey from its 100% owned Terrace Project and is currently reviewing the information. Soil sampling and mapping has commenced at Terrace and will continue over the next two weeks. A full analysis of the Air Magnetics is underway. The results will help determine the scope and direction of the planned 2008 exploration program.
Analyses of samples from the current program are completed at Eco-Tech Laboratory Ltd. in Kamloops, BC. Quoted intercepts are based on analytical analyses for molybdenum. Full assays for molybdenum were run on any molybdenum analyses that exceeded 500ppm. 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 BC. 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 (P.Eng.), a qualified person for the purposes of NI 43-101.
For further information visit the Company's web site at www.ttmresources.ca.
TTM RESOURCES INC.
"Crichy Clarke"
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W.K. Crichy Clarke
President & CEO
This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
TTM Resources Inc.
W.K. Crichy Clarke, President & CEO, 604-685-5851
or
Tom Brady, 604-685-5851
or
Toll Free: 888-685-5851
fax: 604-685-7349
ir@urg.ca
www.ttmresources.ca
or
Europe:
Small Cap Invest Ltd
Alexander Friedrich, 49 (0) 69-24 24 93 49
or 49 (0) 12 12 544 71 04 6
afriedrich@small-cap-invest.com
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