TTM Resources Inc.

TTM Resources Inc.

February 01, 2007 00:15 ET

TTM Intersects Significant Molybdenum Values on Chu Project, B.C.

Chu Phase I Program Intersects 0.105% Mo Over 70 Metres

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 1, 2007) - Crichy Clarke, President and CEO of TTM Resources Inc. ("TTM" or the "Company") (TSX VENTURE:TTQ)(FWB:T2U), is very pleased to announce analytical, analyses, and confirmatory molybdenum assay results for the first two holes from the Phase I - (eight-hole, 3500m) drill program at the Chu Molybdenum Project, British Columbia. The intent of the program is to confirm, and expand upon, the molybdenum-copper mineralized zone known from historical drilling on the property in the late 1970s and early 1980s. Results from both new drill holes continue to meet and/or exceed historic drill hole grades. Please see Press release dated December 14, 2006 and November 27, 2006 for a more complete deposit description.

The drill program commenced in November 2006 and is scheduled to continue through February 2007. Four NQ sized diamond drill holes have been drilled to-date with an aggregate total of 1838 meters. Assays are pending from holes CH-06-03 and Ch-06-04.


Cu% (weighted (weighted Interval
Hole ID From (m) To (m) average) average) Length (m)
CH-06-01 413.92 465.73 0.029 0.043 51.8
CH-06-01 523.65 605.94 0.066 0.097 82.3
including 523.65 593.75 0.072 0.105 70.1
including 566.30 587.70 0.072 0.137 21.4
CH-06-02 178.92 233.78 0.034 0.066 54.9
including 194.16 212.45 0.045 0.088 18.3
419.71 453.24 0.076 0.074 33.5
including 434.95 450.19 0.111 0.084 15.2
(i)Assays are for the element Mo, not Molybdentite MoS2, all values in
this news release are % Mo unless other wise stated

Hole CH-06-01 and CH-06-02 were both drilled at azimuth 210 degrees with a -75 degrees and -50 degrees dip, respectively. Both holes targeted the main mineralized zone to seek the down-dip extension of the zone and investigate potential higher grades at depth. A drillhole plan can be viewed at the Company's website (

The high grade zones drilled in CH-06-01 represent the down dip confirmation of mineralization encountered in 81-2 (0.126% Mo over 24.4 m) and 82-2 (0.13% Mo over 36.6 m) and indicate this mineralization extends an additional 300 meters to depth.

Hole CH 06-02 was drilled at -55 degrees dip to test for continuity of the zone between previous holes 81-1 and 82-1. The intervals encountered in this hole demonstrate the on strike continuity of this discovery.

According to Bob Sibthorpe (B, SC. Geol., & MBA), "These first two holes demonstrate the vertical nature of the stockwork zone and indicate a deep feeder zone may be present beyond the present limits of drilling. Equally as intriguing is the apparent increase in molybdenum and copper grades.

Molybdenite is the principal molybdenum mineral at the Chu. Molybdenum mineralization appears principally at the selvages of parallel or stockwork quartz - sulphide veins that cross-cut most lithologies, including the hornfelsed meta-siltstones and altered granodiorite. Molybdenite is also noted as stringers parallel to foliation in the hornfelsed meta-siltstone. The style of sulphide mineralization is not typical of porphyry style copper/molybdenum deposits, and may represent the distal expression of a buried mineralized porphyry at depth.

The large zone of molybdenum mineralization is mainly contained within the hornfelsed, fine to medium grained meta-siltstone units. These units are observed to be highly fractured and sealed by quartz veins that are part of a large, well developed quartz stockwork which hosts the molybdenum mineralization. This stockwork trends NW-SE and dips to the NE. The bounding rock units on the SW and NE are medium grained granodiorite and a fine to medium grained andesite containing lesser andesite porphyry and tuffs.

Further analytical work including petrographic studies and drilling will be required to provide a better understanding of this relationship.

The recorded mineral exploration history of the property area dates from 1969 when a helicopter supported prospecting and regional reconnaissance geochemical silt survey indicated the anomalous copper, molybdenum and tungsten values in the immediate area. Geochemical reconnaissance surveys conducted by Rio Tinto Canadian Explorations Ltd. and Asarco (American Smelting and Refining Company) during 1969-70 led to discovery of what is now known as the Chu molybdenum property. Asarco continued to explore the property in the late 1970's and early 1980's looking for porphyry style molybdenum and copper mineralization. A total of 24 historical holes are recorded on the property.

Follow-up exploration plans remain to be firmly established for the CHU property but will certainly involve a major drill program. Sufficient funds remain in the Company's treasury to complete a comprehensive quality control and assay assurance program, and input all historical and current drill data into a resource modeling computer program.

The CHU project is located in central BC and is situated close to power, paved highway and rail. The operating Endako Molybdenum Mine owned by Blue Pearl Mining is situated approximately 80km to the northwest. The property consists of 11 mineral claims over an area totaling 8410 acres. The area has been ravaged by the Mountain Pine Beetle and most of the stands of Pine on the property have been affected. No major permitting or environmental obstacles can be seen to restrict an ongoing operation in this area.

Analytical analyses of samples from the current program were completed at Eco-Tech Laboratories in Kamloops, BC. Quoted intercepts are based on analytical analyses for copper and molybdenum. Full assays for molybdenum were run on any molybdenum analyses that exceeded 500ppm. The Company is currently completing a comprehensive quality assurance/quality control program including standards, blanks and duplicate samples that formed part of the sampling protocol. In addition the laboratory has its own quality assurance program. The field program was supervised by Ken MacDonald, P.Geo., who is an independent qualified person under the definition of National Instrument 43-101. The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101, and has been reviewed by the Company's qualified person, Bob Sibthorpe, Vice-President of Exploration for TTM Resources Inc. and Ken MacDonald of Allnorth Consultants Limited.

Board of Directors Additions Effective February 1, 2007 and Options Granted

Ms. Michele Pillon will be joining the Management team as the Company's Chief Financial Officer replacing Mr. Marc Tran. The Company would like to thank Mr. Tran for his very valuable contribution to the Company's development and wishes him well in his new and expanded duties with Wyn Developments Corp. Ms. Pillon has been associated with the Company since it became a public issuer and is familiar with all the workings and relationships the Company has established. We welcome her as our CFO and look forward to her valuable input.

The Company is also very pleased to welcome to its Board of Directors, Mr. David Jubb. Mr. Jubb is well known to the Company's management team and will be an addition to the decision making process during the exploration phase. Mr. Jubb resides in Toronto, Ontario and has been the President of Edgecombe Properties Ltd. since 1985. Edgecombe is involved in the development and sale of commercial real estate and the development and management of retail shopping complexes across Canada. Mr. Jubb is also involved in the management and ownership of Ogilvie's Store, a high-end retail department store on St. Catherine St. in Montreal, Quebec. We welcome him to our group and we look forward to his guidance and insight as we move forward.

As a result of these appointments, both Ms. Pillon and Mr. Jubb have been invited to participate in the Company's Option Plan. They have been issued 150,000 options exercisable at $0.30 expiring 5 years from the date of the original options set for all other participants. Mr. Tran will also retain his options as previously disclosed. Mr. Terry Lyons has also had his options increased from 50,000 to 150,000. These changes and additions are subject to Regulatory approval.

W.K. Crichy Clarke, President

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.

Contact Information

  • TTM Resources Inc.
    W.K. Crichy Clarke
    President & CEO
    (604) 685-5851 or Toll Free: 1-888-685-5851
    TTM Resources Inc.
    Tom Brady
    (604) 685-5851 or Toll Free: 1-888-685-5851
    (604) 685-7349 (FAX)
    Small Cap Invest Ltd - Europe
    Alexander Friedrich
    49 (0) 69-24 24 93 49 or 49 (0) 12 12 544 71 04 62