TTM Resources Inc.
TSX VENTURE : TTQ
FRANKFURT : T2U

TTM Resources Inc.

May 07, 2007 10:50 ET

TTM Resources Inc.: Chu Phase I Program Intersects Additional High Grade Mo in Hole 06-13-0.096% Mo Over 383.4 Meters and Hole 06-12-0.113% Mo Over 88.3 Meters Phase II to Commence Immediately

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 7, 2007) - W. K. Crichy Clarke, President and CEO of TTM Resources Inc. ("TTM" or the "Company") (TSX VENTURE:TTQ)(FRANKFURT:T2U) is very pleased to announce analytical analyses and confirmatory molybdenum assay results for the remaining diamond drill holes from the Phase I drill program at its 100% owned Chu Molybdenum Project 65 Km Southwest of Vanderhoof, British Columbia, Canada. The current results, reported by the Company's technical staff, continue to demonstrate significant progress in defining the molybdenum-rich mineralized zone known from historical drilling on the property in the late 1970s and early 1980s.

Please see Press Releases dated December 14, 2006, November 27, 2006, January 31, 2007 and March 2, 2007 for a more complete deposit description and previous drill results from the first six holes of the program, or the enclosed summary.

Final results for Hole CHU 06-06 have been received and included an interval of 62.3 meters grading 0.073% Mo (including 19.7 meters grading 0.101% Mo) in addition to the previously reported results.

CHU 06-12 was drilled 140 meters northwest of previously reported CHU 06-05 (97.5 meters grading 0.096% Mo and 18.3 meters grading 0.143% Mo) and returned 237.7 meters grading 0.076% Mo including 88.3 meters grading 0.113% Mo.

CHU 06-11 was drilled on the same section as CHU 06-05 and defined the mineralized zone 100 meters above with intervals of 12.2 meters grading 0.080% Mo and 118.8 meters grading 0.066% Mo including 67 meters grading 0.084% Mo.

CHU 06-10 was also drilled on the same section as CHU 06-05 extending the zone an additional 300 meters in depth with 466.3 meters grading 0.050% Mo including 9.3 meters grading 0.078% Mo, 12.2 meters grading 0.080% M0, 12.2 meters grading 0.101% Mo, 15.3 meters grading 0.092% Mo and 42.6 meters grading 0.085% Mo.

CHU 06-13, collared 750 meters to Southeast of Chu 06-06 was drilled across the sections defined by CHU 06-05, 06-10, 06-11 and 06-12. From surface to 242 meters the hole returned 0.049% Mo excluding two 15 meter barren dikes. The hole then entered the targeted hornfelsed siltstone and assayed 0.096% Mo over the remaining 383.4 meters of the hole. Higher grade intercepts within this interval were 54.9 meters grading 0.118% Mo, 36.6 meters grading 0.162% Mo, 23.9 meters grading 0.120% Mo, and 45.7 meters grading 0.120% Mo.

CHU 06-07 was drilled 300 meters to the southeast of CHU 06-05 to test an on-strike soil anomaly and returned an interval of 327.9 meters grading 0.025% Mo including several short high grade intercepts.

Drill holes CHU 06-08 and CHU 06-09 were drilled near the northwest extension of the CHU zone and returned 38.4 meters grading 0.033% Mo (including 12.2 meters grading 0.109% Mo) and 115.5 meters grading 0.033% Mo respectively.

A complete listing of the significant intercepts from Phase 1 drilling by TTM at the CHU property is shown in Table 1. Several previously reported intervals have been re-stated here to incorporate duplicate assays and more accurately denote significantly mineralized zones.



---------------------------------------------------------------------------
SUMMARY OF SIGNIFICANT INTERCEPTS
---------------------------------------------------------------------------
PHASE 1 CORE DRILLING PROGRAM -CHU PROPERTY
---------------------------------------------------------------------------

---------------------------------------------------------------------------
SECTION DRILL HOLE Az Dip TD From To Width Mo
---------------------------------------------------------------------------
m m m m %
---------------------------------------------------------------------------
580E CHU 06-07 210 -55 431.9 6.1 334.0 327.9 0.025
---------------------------------------------------------------------------
Incl 17.4 45.8 28.4 0.035
---------------------------------------------------------------------------
Incl 17.4 20.4 3.0 0.120
---------------------------------------------------------------------------
Incl 44.8 45.8 1.0 0.141
---------------------------------------------------------------------------
Incl 90.1 90.5 0.4 0.335
---------------------------------------------------------------------------
Incl 114.9 115.7 0.8 0.183
---------------------------------------------------------------------------
Incl 180.6 181.4 0.8 0.262
---------------------------------------------------------------------------
400E-10E(i) CHU 06-13 300 -60 626.1 5.5 119.4 113.9 0.048
---------------------------------------------------------------------------
Incl 35.4 56.7 21.3 0.078
---------------------------------------------------------------------------
134.3 162.2 27.9 0.040
---------------------------------------------------------------------------
175.6 242.6 67.0 0.055
---------------------------------------------------------------------------
242.6 626.1 383.5 0.096
---------------------------------------------------------------------------
Incl 242.6 297.5 54.9 0.118
---------------------------------------------------------------------------
Incl 401.1 437.7 36.6 0.162
---------------------------------------------------------------------------
Incl 489.5 513.4 23.9 0.120
---------------------------------------------------------------------------
Incl 544.4 590.1 45.7 0.120
---------------------------------------------------------------------------
280E CHU 06-05(i)(i) 210 -60 486.8 60.1 130.2 70.1 0.046
---------------------------------------------------------------------------
227.7 325.2 97.5 0.096
---------------------------------------------------------------------------
Incl 246.0 258.2 12.2 0.183
---------------------------------------------------------------------------
Incl 288.7 310.0 21.3 0.152
---------------------------------------------------------------------------
361.8 380.1 18.3 0.143
---------------------------------------------------------------------------
280E CHU 06-10 210 -75 669.6 157.6 623.9 466.3 0.050
---------------------------------------------------------------------------
Incl 157.6 166.9 9.3 0.078
---------------------------------------------------------------------------
Incl 200.3 212.5 12.2 0.080
---------------------------------------------------------------------------
Incl 331.3 343.5 12.2 0.101
---------------------------------------------------------------------------
Incl 425.8 441.1 15.3 0.092
---------------------------------------------------------------------------
Incl 492.9 535.5 42.6 0.085
---------------------------------------------------------------------------
280E CHU 06-11 210 -45 361.5 35.4 154.2 118.8 0.039
---------------------------------------------------------------------------
166.4 178.6 12.2 0.080
---------------------------------------------------------------------------
187.8 306.6 118.8 0.066
---------------------------------------------------------------------------
Incl 239.6 306.6 67.0 0.084
---------------------------------------------------------------------------
140E CHU 06-12 210 -60 501.7 4.8 501.7 496.9 0.040
---------------------------------------------------------------------------
Incl 251.8 489.5 237.7 0.076
---------------------------------------------------------------------------
Incl 388.9 489.5 100.6 0.098
---------------------------------------------------------------------------
Incl 401.2 489.5 88.3 0.113
---------------------------------------------------------------------------
220W CHU 06-02(i)(i) 210 -55 468.5 172.8 468.5 295.7 0.039
---------------------------------------------------------------------------
Incl 178.9 233.8 54.9 0.069
---------------------------------------------------------------------------
Incl 419.7 450.2 30.5 0.076
---------------------------------------------------------------------------
440W CHU 06-01(i)(i) 210 -75 609.6 398.7 609.6 210.9 0.061
---------------------------------------------------------------------------
523.7 593.8 70.1 0.105
---------------------------------------------------------------------------
566.3 584.6 18.3 0.141
---------------------------------------------------------------------------
420W-800W(i) CHU 06-06(i)(i)(i) 290 -55 584.3 23.5 375.3 351.8 0.099
---------------------------------------------------------------------------
Incl 90.5 133.2 42.7 0.152
---------------------------------------------------------------------------
Incl 154.5 186.8 32.3 0.239
---------------------------------------------------------------------------
Incl 266.8 277.3 10.5 0.158
---------------------------------------------------------------------------
497.6 559.9 62.3 0.073
---------------------------------------------------------------------------
Incl 505.1 524.8 19.7 0.101
---------------------------------------------------------------------------
770W CHU 06-09 210 -65 331.0 215.5 331.0 115.5 0.033
---------------------------------------------------------------------------
1070W CHU 06-04(i)(i) 210 -50 395.3 9.1 157.8 148.7 0.022
---------------------------------------------------------------------------
1140W CHU 06-08(i)(i) 210 -55 300.5 181.7 220.1 38.4 0.033
---------------------------------------------------------------------------
Incl 254.8 267.0 12.2 0.109
---------------------------------------------------------------------------
1140W CHU 06-03(i)(i) 210 -60 364.9 14.3 246.0 231.7 0.020
---------------------------------------------------------------------------
Incl 14.3 17.4 3.1 0.107
---------------------------------------------------------------------------
Incl 80.2 81 0.8 0.468
---------------------------------------------------------------------------
Incl 242.9 246 3.1 0.379
---------------------------------------------------------------------------

Notes
All values are molybdenum not molybdenite. Copper is present in an
approximate 1:1 ratio with Mo but seldom exceeds 0.10%
(i) Drilled at right angle to the Sections
(i)(i) Previously reported
(i)(i)(i) Previously reported as a partial result True widths are estimated
at 50-80% of reported widths depending on the hole angle with the
exceptions of CHU 06-06 and 06-13 Sections are in meters. The distance
between 1140W and 580E is 1720 meters.


A Drill Plan map is provided on the Company's website at http://www.ttmresources.ca/img/chu/explore_map.pdf

The 6131 meters of TTM Phase 1 drilling combined with the 5099 meters of historical drilling at CHU has defined a sub-vertical, structurally controlled, zone of significant molybdenum mineralization which has a west-north-west strike direction and a strike length of at least 1700 meters. All of the deeper holes drilled to date have encountered significant molybdenum mineralization at depth indicating that the zone extends from surface to at least 600 meters in depth. Drilling across the zone along in sections has consistently returned estimated true widths ranging from 100 meters to 300 meters grading between 0.020% Mo to 0.10% Mo usually with higher grade intervals within the broader zones. These dimensions provide a large volume of favourable host rock to test and a Phase II drill program, of a minimum of 5000 meters, has been planned. This program will commence on May 7, 2007.

The molybdenum mineralization at CHU is in the form of a quartz vein stockwork, defined here as a three dimensional network of closely spaced planar veinlets with at least three distinct vein sets noted in the drill core at CHU. The stockwork mineralization cuts across all rock types in the drilled area with the exception of post-mineralization dikes and sills and the barren granodiorite pluton to the south of the structural corridor. The higher molybdenum values are associated with hornfelsed siltstone but also occur in overlying andesite, argillite and intercalated granodiorite. The source of the molybdenum is assumed at this time to be a deeper intrusive body and several deeper drill holes have been planned as part of Phase 2 to test the for high grade "feeder" zones.

Most of the drilling to date at CHU has been oriented towards the south-south-west as the optimal direction to define the dimensions of the stockwork zone. Two holes (CHU 06-06 and CHU 06-13) were drilled in favourable host rocks in a WNW direction, i.e. along the long axis of the structural zone. This was done to test the grade of the 'mesh texture' of the veinlets when drilled from a different direction. Since these holes were oriented entirely within the favourable host rocks they were expected to have longer intervals of significant mineralization than the other holes and this in fact did occur. These intercepts do not represent true widths. Both holes also had significantly higher grades than that which would be expected from the results of the SSW drilling in the area and the significance or cause of this feature is not completely understood. Petrographic work has been planned, the core is being re-logged, and oriented drilling will continue to determine the direction which most accurately defines the true grade of the stockwork. The two WNW oriented holes also provided important information relating to faulting and the geometry of post-mineralization dikes.

Geophysical surveys by previous operators show that the CHU stockwork zone has sufficient sulphide mineralization to provide a distinct Induced Polarization (IP) response, although the available information is difficult to interpret and limited in extent. Accordingly, linecutting followed by approximately 75 km of 3D Induced Polarization/Resistivity surveying is planned and will be carried out on receipt of permits for this additional work. The purpose of this survey will be to guide drilling within the known CHU zone and to identify other targets on the 2746 hectare claim block.

Fieldwork for this project was supervised by Ken McDonald (P.Geo.) of Allnorth Consultants Limited, a qualified person for the purposes of NI 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. Eco-Tech Laboratories of Kamloops, B.C. carried out all of the assaying.

About TTM Resources Inc.

TTM Resources Inc. is an exploration company focused on the development of the Chu molybdenum project and has several other molybdenum properties in British Columbia, Canada.

For further information visit the Company's web site at www.ttmresources.ca.

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
    or
    TTM Resources Inc.
    Tom Brady
    (604) 685-5851 or Toll Free: 1-888-685-5851
    (604) 685-7349 (FAX)
    Email: ir@urg.ca
    Website: www.ttmresources.ca
    or
    Small Cap Invest Ltd - Europe
    Alexander Friedrich
    49 (0) 69-24 24 93 49 or 49 (0) 12 12 544 71 04 62
    Email: afriedrich@small-cap-invest.com