TTM Resources Inc.: Focused on Four Assets in BC, Canada
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OverviewTTM Resources Inc. is a Vancouver, British Columbia; Canada based publicly trading resource Exploration and Development 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 where its NI 43-101 Report showed an Indicated Resource of 388.5 million tones of 0.052% Mo (0.04% Mo cutoff) and an Inferred Resource of 200.9 Million Tonnes of 0.062% Mo (0.04% Mo cutoff). The resource estimated here is located between surface and a depth of 640 meters. 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. To date the drilling on the CHU Project has outlined mineralization extending over 1.7 Kilometers in length, over 500 meters in depth, and 300 meters wide. The deposit remains open in all directions. TTM has completed over 40,000 meters of core drilling with numerous long intercepts of ore grade molybdenum including hole 007-19 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 and one diamond drill engaged in exploratory activities. Chief PropertiesChu Molybdenum PropertyThe Chu Molybdenum Project (the “Chu Project”) located in the Omineca Region of Central British Columbia and is comprised of 45 contiguous mineral claims. The Chu Project covers an area of 15,094 hectares and is approximately 80 kilometers south-southwest of Vanderhoof, BC, and approximately 75 kilometers from Thompson Creek Metals Company Inc. (TSX:TCM) 75% owned Endako Moly mine and processing facility. The ‘Chu’ Project is an area of molybdenite mineralized sedimentary rocks adjacent to a granodiorite intrusive stock. The prospect has been previously explored in the early 1980’s by more than 5000 meters of diamond drilling from previous operators. Molybdenum is present as quartz – molybdenite veinlet stockwork deposit in hornsfelsed sandstone. Sections of higher grade molybdenite mineralization are common features of molybdenum-producing deposits and their presence strongly enhances the viability of the mines. The waste to ore ratio appears to be one to one. To date the CHU Project has been extended to over 1.7 Kilometers in length, over 650 meters in depth, and 300 meters wide. All directions are open. The Phase 11 drill program is underway (20,000 m minimum). Terrace PropertyIn the fall of 2006, TTM purchased and staked 8,410 contiguous acres of Molybdenum (Mo) prospective claims. The area is 20 km northeast of Terrace, British Columbia, contiguous with the Shan property. Work to date on the Shan property includes highlights of 59.65m of 0.118% Mo and 112.7 m of 0.107% Mo. TTM’s claims are on trend with the Shan property, situated directly to the west. An AeroMag survey and a ground sampling and mapping program have been completed to detail the total property. Deeker Creek ProjectThe 100% owned Deeker Creek Project consists of forty-five contiguous claims, encompassing approximately 17,322 hectares located in the Liard Mining Division, 210 kilometers northwest of Stewart and 65 kilometers southwest of Telegraph Creek in northwestern British Columbia, Canada. The project is situated on the western margin of the intermontaine belt within the Stikine Arch, an area known for precious metal deposits. The Galore Creek copper porphyry deposit, is located 25 kilometers southeast of the Deeker Creek Project. At Deeker Creek, molybdenite occurs in quartz veinlets and stringers along fracture planes within a highly veined, altered and fractured border zone of the Chutine quartz-monzonite batholith. The property is underlain by a sequence of Permian limestone, intruded by middle Jurassic suite of biotite-hornblende granodiorite, quartz diorite and Eocene quartz monzonite. This geological setting is a favorable environment for hosting economic mineralization. Historical soil samples have indicated molybdenum values ranging up to 200 ppm with most forming a log-normal curve up to about 60 ppm. 5 ppm is considered of interest. Molybdenum has very high values for soils but shows a fairly general distributon. Multiple showings were located during limited work which may require further investigation (massive pyrite vein, rusty zone, hilltop vein, shear zone). These showings were mineralized up to snow and icefields, the majority of which have receded significantly over the past 15 years. The satellite images indicated glacial retreat of 100s of metres to kilometers; in many instances snowfields have disappeared altogether. This area is a virtually unexplored area of the province. Molygold ProjectTTM Resources’ Molygold project covers significant mineral occurrences in various depositional environments. The property is underlain by a multi-phase granodiorite Coast Intrusive complex containing a remnant pendant of Gambier stratified rocks which have undergone variable regional and local shearing, brecciation and alteration. The target mineral occurrences at the TTM “Molygold Project” are metal deposits genetically related to porphyritic intrusive complexes. Sulphide minerals in the environment are usually dispersed in veinlets and fracture stockworks that formed late in the process of intrusive emplacement, interstitially in intrusive breccia zones, or in more distal pre-existing zones.
The 100% owned Molygold property is located approximately 120 km north of Vancouver, 10km to the northeast of Pemberton, and approximately 15km to the northwest of Whistler Village, British Columbia, Canada. The property is well situated as several power stations are present in close proximity, a major power grid passes through nearby communities, and an extensive logging road network exists within the claim block. The local Mount Currie First Nations Band also continues to support the Company’s current and future plans to date through regular consultations. Management
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