TTM Receives Revised Resource Estimate for Chu Molybdenum Project
Monday, May 24th, 2010
W. K. Crichy Clarke, President and CEO of TTM Resources Inc. announces that the Company is in receipt of an updated Resource Estimate from Gary Giroux of Giroux Consultants Inc. of Vancouver, B.C. for its 100% owned Chu Molybdenum Project located 65 kilometers southwest of Vanderhoof, British Columbia, Canada. The updated Resource Estimate has been incorporated into a revised Preliminary Economic Assessment (“PEA”) prepared by Moose Mountain Technical Services (“Moose Mountain”) of Calgary, Alberta.
Revised Resource Estimate and Preliminary Economic Assessment
The Company has received an updated Resource Estimate from Giroux Consultants Inc., of Vancouver, B.C. The revised estimate was calculated by incorporating the 2009 and 2010 drilling campaigns (13 drill holes totaling 5,894 meters) that occurred subsequent to the previous resource estimate announced in the Company’s Feb 27, 2009 press release, which incorporated all holes drilled to the end of 2008. The Mineral Resource Estimate at the Company’s 100% owned Chu Molybdenum project using a 0.04% Mo cutoff now stands at: Measured 159 million tonnes at an average grade of 0.061% Mo and 0.035% Cu (214 million lbs molybdenum, 122.8 million lbs copper), Indicated 211 million tonnes at an average grade of 0.057% Mo and 0.035% Cu (265.9 million lbs molybdenum, 163 million lbs copper), and Inferred 256 million tonnes at an average grade of 0.052% Mo and 0.036% Cu (294.2 million lbs molybdenum, 203 million lbs copper). The Measured plus Indicated resource totals 370 million tonnes at a grade of 0.059% Mo and 0.035% Cu (482.2 million lbs of molybdenum, 286.1 million lbs copper). The Measured and Indicated resource tonnage has increased by 18% while the contained molybdenum and copper have increased by 16% and 12% respectively over the previous estimate.