TTM Resources Inc.
TSX VENTURE : TTQ
FRANKFURT : T2U

TTM Resources Inc.

March 02, 2007 10:53 ET

TTM Resources Inc.: Drill Program Returns High Grade Molybdenum Values on CHU Project, B.C.

Chu phase I program intersects 0.132% mo over 198 metres

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 2, 2007) - W. K. Crichy Clarke, President and CEO of TTM Resources Inc. ("TTM" or the "Company") (TSX VENTURE:TTQ)(FRANKFURT:T2U) is pleased to announce analytical analyses and confirmatory molybdenum assay results for four diamond drill holes from the Phase I - (eight-hole, 3500m) drill program at its 100% owned Chu Molybdenum Project near Vanderhoof, British Columbia, Canada. The current results continue to demonstrate the viability of the molybdenum-rich mineralized zone known from historical drilling on the property in the late 1970s and early 1980s.

Please see Press Release dated December 14, 2006, November 27, 2006 and January 31, 2007 for a more complete deposit description and results from the first two holes of the 2006 program.

The Phase One drill program commenced in November 2006 and is scheduled to continue through March 2007. Seven NQ sized diamond drill holes have been drilled to-date with an aggregate total of 3341 meters. The drill is presently located northwest of CH-06-03 and is turning on hole CH-06-08. Assays are pending from the bottom of CH-06-06 and hole CH-06-07.



SIGNIFICANT Mo% Results: DDH CH-06-03 to DDH CH-06-06 (partial)
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HOLE Depth From (m) Depth To (m) Interval (m) Cu% Mo%
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CH-06-06 23.47 38.71 15.24 0.046 0.093
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Including 26.52 32.61 6.09 0.046 0.119
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78.33 277.29 198.96 0.047 0.132
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Including 93.57 114.91 21.34 0.041 0.173
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142.34 181.97 39.63 0.053 0.206
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222.72 236.83 14.11 0.050 0.161
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268.55 277.29 8.74 0.065 0.138
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307.27 320.90 13.63 0.049 0.088
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335.83 345.28 9.45 0.037 0.087
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CH-06-05 60.05 66.14 6.09 0.043 0.073
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78.33 93.57 15.24 0.045 0.063
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99.67 105.77 6.10 0.048 0.057
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121.01 130.15 9.14 0.050 0.049
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227.69 258.17 30.48 0.059 0.110
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Including 245.97 258.17 12.20 0.075 0.183
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267.31 273.41 6.10 0.121 0.088
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288.65 325.22 36.57 0.027 0.126
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Including 288.65 309.98 21.33 0.031 0.152
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340.46 349.61 9.15 0.026 0.055
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361.80 380.09 18.29 0.021 0.143
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CH-06-04 9.14 11.28 2.14 0.028 0.058
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81.38 84.43 3.05 0.027 0.061
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CH-06-03 14.33 17.37 3.04 0.039 0.107
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80.20 81.00 0.80 0.082 0.468
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93.57 96.62 3.05 0.018 0.082
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197.21 200.25 3.04 0.010 0.094
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242.93 245.97 3.04 0.050 0.379
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CH-06-02(ii) 178.92 233.78 54.86 0.034 0.066
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Including 194.16 212.45 18.29 0.045 0.088
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419.71 453.24 33.53 0.076 0.074
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Including 434.95 450.19 15.24 0.111 0.084
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CH-06-01(ii) 413.92 465.73 51.81 0.029 0.043
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523.65 605.94 82.29 0.066 0.097
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Including 523.65 593.75 70.10 0.072 0.105
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Including 566.30 587.70 21.40 0.072 0.137
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(i) analyses are for the element Mo, not Molybdenite MoS2; all values in
this news release are % Mo unless otherwise stated
(ii) previously released in press release dated January 31, 2007


Hole CH-06-03 and CH-06-04 were both drilled at an azimuth of 210 degrees with a -60 degrees and -50 degrees dip, to a total depth of 364.85 m and 395.33 m, respectively. Both holes targeted the northwest strike extent of the known mineralization. A drill hole plan can be viewed at the Company's website (http://www.ttmresources.ca/img/chu/explore_map.pdf )

CH-06-03 was a 250 m step-out from historical hole 81-7 and intersected mainly hornfelsed siltstone with moderate biotite alteration and persistent silicification. Molybdenum mineralization was encountered in five narrow intervals at the selvage of quartz-sulphide veins and as randomly oriented narrow molybdenite-bearing veinlets and stringers. Three intervals exceeding 0.1% Mo were intersected, demonstrating the persistence of the veining to the northwest and the potential for relatively high molybdenum grades on the property.

CH-06-04 stepped 110 m back to the southeast from collar CH-06-03 to seek continuity of the stockwork zone and infill drill to the northwest of historical hole 81-7. The hole encountered fine-grained hornfelsed siltstone with patchy biotite-chlorite alteration and moderate silicification. Minor faulting, breccia zones and granodiorite dykes were also encountered. Sulphide mineralization was intersected at discrete intervals throughout the downhole section from 9.14 m to 212.45 m. Molybdenum mineralization in this hole appears to have a preferential structural control in the form of a conjugate fracture pattern that concentrates the veining and gives rise to higher molybdenum grades. More work is required to positively identify structural controls and preferred orientations of veins. CH-06-04 returned two narrow intervals of greater than 0.050% Mo and was anomalous over a downhole interval of 203 m.

Hole CH-06-08 was collared NW of hole 3 to test the theory that hole 3 and hole 4 were collared too low in the sequence and may instead have targeted the footwall beneath the sub-vertical stockwork.

CH-06-05 was drilled to a depth of 486.76 m at an azimuth of 210 degrees and a dip of -60 degrees and targeted the known strike-extent of the zone by stepping out 275 m from historical hole 80-1. CH-06-05 intersected andesite and minor granodiorite and basalt dykes down to a depth of 253 m before encountering a sequence of argillite overtop of hornfelsed siltstone, with intermittent granodiorite dykes. Of particular note, the regional deformation (penetrative foliation) has increased to the southeast and may provide a valuable vector to increased density of veining.

Ch-06-05 returned significant molybdenum mineralization over 137.16 m in nine intervals from a downhole depth of 60.05 m to 380.09 m. Included in this section are three key intervals of note: a hanging wall zone of 30.5 m of 0.110% Mo, a middle zone of 36.6m of 0.126% Mo and a footwall zone of 18.3 m of 0.143% Mo.

Ch-06-06 was collared at an azimuth of 290 degrees and dip of -55 degrees and drilled along the strike of the zone to test for a possible fault and attempt to explain why earlier drilling in hole 81-3 and hole 81-4 encountered molybdenum mineralization higher and further northeast than expected. It has been hypothesized that this section may have a North-South bearing intrusive dyke that truncated or limited the mineralized stockwork zone. Hole CH-06-06 was drilled to a depth of 584.3 m and intersected biotite-altered hornfelsed siltstone and intermittent granodiorite dyking with three significant fault structures encountered at 160.5 m, 400.0 m and 457.0 m. The faults suggest the presence of a block faulted section which could also have acted to localize molybdenum mineralization. CH-06-06 returned a spectacular interval of 198.96 m of 0.132% Mo between 78.33 - 277.29 m. Included are three intervals of grades greater than 0.150% molybdenum over individual downhole intervals greater than 14 m. The predominant molybdenum - bearing vein orientation encountered downhole was sub-parallel to core axis which explains the relatively high molybdenum grades encountered in this hole. Although the values and widths returned from this hole may not be representative of those for the overall zone, it is important in that it demonstrates the high grade potential.

CH-06-07 was collared southeast of hole 5 to seek a further extension of the strike length. This hole has been completed and results are expected in the next several days, along with the balance of hole 6.

According to Bob Sibthorpe (B.Sc. Geol. & MBA), "These four holes help extend the known strike length of the zone to the SE by an additional 275 meters and demonstrate the persistence of the molybdenum-bearing veins to the northwest. Hole CH-05-06 is an important hole in demonstrating that the suspected presence of a large and supposed barren granodiorite plug to the SE of known mineralization is no longer valid. Now we can take another step-out southeast of hole 5 and seek the next strike-extension. Hole 6 really helps us model the geometry of the suspected truncated/faulted section, plus it demonstrates the kind of high-grade molybdenum mineralization that this stockwork zone can host."

Molybdenite has been identified in a number of vein sets of varying orientation. The most conspicuous type is cm scale quartz veins with molybdenum at the selvage. Molybdenite is also noted as mm scale veins parallel to foliation and mm scale microfractures orthogonal to foliation. More work is required to understand the complex vein genesis and the relationship of molybdenum grade to orientation. Molybdenum grade appears to be intimately associated with density of veining and spatial occurrence of the three main vein types.

The results to-date have been very encouraging and management believes they are making good progress in expanding the size and overall grade of the stockwork zone. Accordingly, the company is increasing the targeted drill meterage from 3500 to 5000 meters and will continue to drill into March, 2007.

The CHU project is located in central British Columbia and is situated close to power, paved highway and rail. The operating Endako Molybdenum Mine, owned by Blue Pearl Mining, is situated approximately 85 km to the northwest. The nearest large city is Prince George located 145 km northeast of the property. 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 form part of the sampling protocol. In addition the laboratory has its own quality assurance program. The field program is 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 was prepared by Ken MacDonald of Allnorth Consultants Ltd. and reviewed by Bob Sibthorpe, Vice-President of Exploration for TTM Resources Inc. on behalf of the Company.

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.
    Alexander Friedrich
    49 (0) 69-24 24 93 49
    49 (0) 12 12 544 71 04 62 (FAX)
    Email: afriedrich@small-cap-invest.com