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TTM RESOURCES INC. CHU PROJECT INITIAL RESOURCE ESTIMATED AT 655 MILLION POUNDS OF MOLYBDENUM (Mo)
TTM Resources Inc announces its Initial NI 43-101 Compliant Indicated Resource - High Grade Mo of 57.1 Million Tonnes of .104% Mo (0.08% cutoff) as part of 235.3 Million Tonnes of 0.067% Mo (0.040% cutoff) and Inferred Resource ? High Grade Mo of 44.4 Million Tonnes of 0.100 % Mo (0.08% cutoff) as part of 221.5 Million Tonnes of 0.063% Mo (0.04% Mo cutoff). Most of the resource estimated here is located between surface and a depth of 500 meters. The deposit is open to depth.
TTM Resources Inc. is a Vancouver, British Columbia; Canada based publicly trading resource Exploration Company, focused on four assets in British Columbia, Canada. the Chu Molybdenum Project, the Terrace Molybdenum Project, the Deeker Creek Molybdenum Project and the Moly/Gold Project.
Exploration programs for 2008 will concentrate mainly on the Chu Project. The Chu Project Mo resource was previously explored in the early 1980?s by more than 4,000 meters of diamond drilling. The discovery is located 75 Kilometers from Thompson Creek Metals Company Inc.?s (one of the world's largest publicly traded, pure molybdenum producers) Endako Mine. The Chu is an area of molybdenite mineralized meta-sedimentary rocks adjacent to a granodiorite intrusive stock. Molybdenum occurs in a quartz ? molybdenite stockwork hosted in a hornfelsed siltstone. Drilling thus far has identified sections of higher grade molybdenite mineralization. To date the drilling on the CHU Project has outlined mineralization extending over 1.7 Kilometers in length, over 700 meters in depth, and 300 meters wide. The deposit remains open in all directions. TTM has completed over 21,000 meters of core drilling program with numerous long intercepts of ore grade molybdenum including drill hole 19 which delivered 504.4 meters of .109% Mo. Assay results are indicating that the deposit would have a low stripping ratio as the mineralization extends to near surface. Currently there are two diamond drills operating on the CHU property engaged in resource expansion and resource category upgrading activities.