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TSX-V Symbol: TTQ
Frankfurt Stock Exchange Symbol: T2U
PRESS RELEASE October 17, 2007
Corporate Office:
#520 - 700 West Pender St
Vancouver, BC Canada V6C 1G8
Tel: (604) 685-5851 Fax: (604) 685-7349
Toll Free: (888) 685-5851 email: ir@urg.ca web:
www.ttmresources.ca
CHU 07-20 interval increased to .10% MO over 183 Meters
CHU 07-21 intersects interval of 0.09 % Mo over 93 Meters and
CHU 07-22 intersects interval of 0.07 % Mo over 186 Meters
Brokered Private Placement of 3,400,000 units at $1.50 per unit
W. K. Crichy Clarke, President and CEO of TTM Resources Inc. ("TTM" or
the "Company") is very pleased to announce additional assay results from
the Phase 2 drill program at its 100% owned Chu Molybdenum Project 65 Km
Southwest of Vanderhoof, British Columbia, Canada.
Assay results for the bottom section of CHU 07-20 have been received and
the significant interval is re-stated here as 183 meters grading 0.096%
Mo from 68.5 to 251.5 meters including the previously reported (See
Press Release dated September 17, 2007) 0.127% Mo over 108.9 meters.
Drill hole CHU 07-21 was drilled at an azimuth 240 degrees and a dip
angle of -45 degrees to extend the high grade WEST ZONE to the
southeast. It intersected significant Mo mineralization at 5.84 meters
and averaged 0.053% Mo over the next 267.14 meters including 92.6 meters
of 0.090% Mo between 73.5 and 166.1 meters.
Drill hole CHU 07-22 was drilled at an azimuth of 210 degrees and a dip
of -45 degrees to test the width and grade of the center of the WEST
ZONE. It entered the stockwork zone at 78.3 meters and averaged 0.072%
Mo over the next 185.9 meters including an interval averaging 0.100% Mo
over 48.87 meters from 191.10 to 239.97 meters.
Drill Hole CHU 07-23 was drilled at an azimuth of 230 degrees and a dip
of -45 degrees to test the western extension of the west high grade
zone. In this area the higher grade Mo mineralization was known to be
interrupted by barren dykes and low grade granodiorite. Significant
intervals include 0.041% Mo over 243 meters from 96.0 to 339.84 meters
including 0.076% Mo 0ver 34.3 meters from 96.0 to 130.3 meters and
0.063% Mo over 51.8 meters from 288.0 to 339.4 meters.
These drill holes now complete the previous numbering system. Future
results will be referred to as "W" referring to the west high grade open
pit zone and "E" referring to the east high grade open zone.
Drill holes CHU 001E, CHU 002E, and CHU 001W are complete and pending
assays. One drill rig is currently testing the southeast extension of
the WEST ZONE and the other drill rig is exploring the northwest
extension of the EAST Zone.
A Drill Plan map is provided on the Company's website at
www.ttmresources.ca/img/chu/explore_map.pdf .
Third Drill Rig
The Company has requested a third drill rig for its Chu Project from
Falcon Drilling Ltd. to start as soon as possible, subject to crew
availability. This drill will be used to provide supplementary
information required for the NI 43-101 Report and exploratory drilling
on new areas of the property dictated by the recently completed IP
Survey, currently being reviewed by the Company's technical staff.
Falcon will advise when the crews are available and drill program will
be established in conjunction with the NI 43-101 report author.
Brokered Private Placement
The Company is pleased to announce a private placement with Canaccord
Capital Corporation ("Canaccord" or the "Agent") of 3,400,000 Flow
Through Units at a price of $1.50 per Flow Through Unit to raise a total
of up to $5,100,000 (the "Offering"). A Flow Through Unit will consist
of one Flow Through common share and one-half of one transferable common
share purchase warrant. Each whole warrant will entitle the holder to
subscribe for one additional Non Flow Through common share (a "Warrant
Share") at a price of $1.75 for a period of one year from the date of
closing.
Terms and conditions of the offering will be forthcoming.
The use of proceeds raised from this issue will be used to fund
continued exploration at the company's Chu Property. The flow through
funds raised from the issuance of the FT Units will be used for
exploration expenditures, which will constitute Canadian exploration
expenses (as defined in the Income Tax Act) and will be renounced for
the 2008 taxation year.
Officer Updates
The Company has accepted the resignation of Ms. Anastasia Ledwon as
Chief Operating Officer effective October 12, 2007. The Company thanks
Ms. Ledwon for her services and wishes her good fortune in her future
endeavors.
Effective immediately Mr. Warren Robb has been appointed as
Vice-President Exploration and Chief Operating Officer.
Stock Options Granted
The Company is pleased to announce that, subject to regulatory approval,
it has granted 100,000 incentive stock options to directors, officers
and consultants of the company, exercisable at a price of $1.20 per
share for a period of five years from the date of grant. Any shares
issued under the option grant will be subject to a four-month hold
period from the date of granting, pursuant to the policies of the TSX
Venture Exchange.
Analyses of samples from the current program are completed at Eco-Tech
Laboratories in Kamloops, BC. Quoted intercepts are based on analytical
analyses for molybdenum. Full assays for molybdenum were run on any
molybdenum analyses that exceeded 500ppm. The Company has in place 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 Richard Beck, B.Sc. Geology,
of Hungry Hill Geological Ltd. of Telkwa, BC. The technical information
in this news release has been prepared in accordance with Canadian
regulatory requirements as set out in National Instrument 43-101. The
technical information provided in this press release was reviewed by
Warren Robb P.Geo., a qualified person for the purposes of NI 43-101.
For further information visit the Company's web site at
www.ttmresources.ca
TTM RESOURCES INC.
"Crichy Clarke"
W.K. Crichy Clarke
President & CEO
Contact:
Main
W.K. Crichy Clarke, President & CEO
Tom Brady
604) 685-5851 or Toll Free: (888) 685-5851 Fax: (604) 685-7349
Website: www.ttmresources.ca/
Email: ir@urg.ca
Europe
Small Cap Invest Ltd
Alexander Friedrich
49 (0) 69-24 24 93 49
49 (0) 12 12 544 71 04 62
Email: afriedrich@small-cap-invest.com
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.
Für die die nicht in der Infolist sind.
Frankfurt Stock Exchange Symbol: T2U
PRESS RELEASE October 17, 2007
Corporate Office:
#520 - 700 West Pender St
Vancouver, BC Canada V6C 1G8
Tel: (604) 685-5851 Fax: (604) 685-7349
Toll Free: (888) 685-5851 email: ir@urg.ca web:
www.ttmresources.ca
CHU 07-20 interval increased to .10% MO over 183 Meters
CHU 07-21 intersects interval of 0.09 % Mo over 93 Meters and
CHU 07-22 intersects interval of 0.07 % Mo over 186 Meters
Brokered Private Placement of 3,400,000 units at $1.50 per unit
W. K. Crichy Clarke, President and CEO of TTM Resources Inc. ("TTM" or
the "Company") is very pleased to announce additional assay results from
the Phase 2 drill program at its 100% owned Chu Molybdenum Project 65 Km
Southwest of Vanderhoof, British Columbia, Canada.
Assay results for the bottom section of CHU 07-20 have been received and
the significant interval is re-stated here as 183 meters grading 0.096%
Mo from 68.5 to 251.5 meters including the previously reported (See
Press Release dated September 17, 2007) 0.127% Mo over 108.9 meters.
Drill hole CHU 07-21 was drilled at an azimuth 240 degrees and a dip
angle of -45 degrees to extend the high grade WEST ZONE to the
southeast. It intersected significant Mo mineralization at 5.84 meters
and averaged 0.053% Mo over the next 267.14 meters including 92.6 meters
of 0.090% Mo between 73.5 and 166.1 meters.
Drill hole CHU 07-22 was drilled at an azimuth of 210 degrees and a dip
of -45 degrees to test the width and grade of the center of the WEST
ZONE. It entered the stockwork zone at 78.3 meters and averaged 0.072%
Mo over the next 185.9 meters including an interval averaging 0.100% Mo
over 48.87 meters from 191.10 to 239.97 meters.
Drill Hole CHU 07-23 was drilled at an azimuth of 230 degrees and a dip
of -45 degrees to test the western extension of the west high grade
zone. In this area the higher grade Mo mineralization was known to be
interrupted by barren dykes and low grade granodiorite. Significant
intervals include 0.041% Mo over 243 meters from 96.0 to 339.84 meters
including 0.076% Mo 0ver 34.3 meters from 96.0 to 130.3 meters and
0.063% Mo over 51.8 meters from 288.0 to 339.4 meters.
These drill holes now complete the previous numbering system. Future
results will be referred to as "W" referring to the west high grade open
pit zone and "E" referring to the east high grade open zone.
Drill holes CHU 001E, CHU 002E, and CHU 001W are complete and pending
assays. One drill rig is currently testing the southeast extension of
the WEST ZONE and the other drill rig is exploring the northwest
extension of the EAST Zone.
A Drill Plan map is provided on the Company's website at
www.ttmresources.ca/img/chu/explore_map.pdf .
Third Drill Rig
The Company has requested a third drill rig for its Chu Project from
Falcon Drilling Ltd. to start as soon as possible, subject to crew
availability. This drill will be used to provide supplementary
information required for the NI 43-101 Report and exploratory drilling
on new areas of the property dictated by the recently completed IP
Survey, currently being reviewed by the Company's technical staff.
Falcon will advise when the crews are available and drill program will
be established in conjunction with the NI 43-101 report author.
Brokered Private Placement
The Company is pleased to announce a private placement with Canaccord
Capital Corporation ("Canaccord" or the "Agent") of 3,400,000 Flow
Through Units at a price of $1.50 per Flow Through Unit to raise a total
of up to $5,100,000 (the "Offering"). A Flow Through Unit will consist
of one Flow Through common share and one-half of one transferable common
share purchase warrant. Each whole warrant will entitle the holder to
subscribe for one additional Non Flow Through common share (a "Warrant
Share") at a price of $1.75 for a period of one year from the date of
closing.
Terms and conditions of the offering will be forthcoming.
The use of proceeds raised from this issue will be used to fund
continued exploration at the company's Chu Property. The flow through
funds raised from the issuance of the FT Units will be used for
exploration expenditures, which will constitute Canadian exploration
expenses (as defined in the Income Tax Act) and will be renounced for
the 2008 taxation year.
Officer Updates
The Company has accepted the resignation of Ms. Anastasia Ledwon as
Chief Operating Officer effective October 12, 2007. The Company thanks
Ms. Ledwon for her services and wishes her good fortune in her future
endeavors.
Effective immediately Mr. Warren Robb has been appointed as
Vice-President Exploration and Chief Operating Officer.
Stock Options Granted
The Company is pleased to announce that, subject to regulatory approval,
it has granted 100,000 incentive stock options to directors, officers
and consultants of the company, exercisable at a price of $1.20 per
share for a period of five years from the date of grant. Any shares
issued under the option grant will be subject to a four-month hold
period from the date of granting, pursuant to the policies of the TSX
Venture Exchange.
Analyses of samples from the current program are completed at Eco-Tech
Laboratories in Kamloops, BC. Quoted intercepts are based on analytical
analyses for molybdenum. Full assays for molybdenum were run on any
molybdenum analyses that exceeded 500ppm. The Company has in place 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 Richard Beck, B.Sc. Geology,
of Hungry Hill Geological Ltd. of Telkwa, BC. The technical information
in this news release has been prepared in accordance with Canadian
regulatory requirements as set out in National Instrument 43-101. The
technical information provided in this press release was reviewed by
Warren Robb P.Geo., a qualified person for the purposes of NI 43-101.
For further information visit the Company's web site at
www.ttmresources.ca
TTM RESOURCES INC.
"Crichy Clarke"
W.K. Crichy Clarke
President & CEO
Contact:
Main
W.K. Crichy Clarke, President & CEO
Tom Brady
604) 685-5851 or Toll Free: (888) 685-5851 Fax: (604) 685-7349
Website: www.ttmresources.ca/
Email: ir@urg.ca
Europe
Small Cap Invest Ltd
Alexander Friedrich
49 (0) 69-24 24 93 49
49 (0) 12 12 544 71 04 62
Email: afriedrich@small-cap-invest.com
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.
Für die die nicht in der Infolist sind.
