Frankfurt Stock Exchange Symbol: T2U
US Clearing Symbol: TTMRF
Issued and Outstanding: 60,437,513
VANCOUVER, Dec. 18, 2012 /CNW/ - TTM Resources Inc. ("TTM" or the "Company") is pleased to announce the results of a fall exploration program conducted on the Company's Deeker Creek Property. The Deeker Creek Property is located in northwest BC, approximately 165 kilometers southwest of Telegraph Creek, BC and 210 kilometers north of Stewart, BC. The Scud River airstrip and camp is approximately 10 kilometers to the southeast. The property hosts a large gossan alteration zone measuring approximately 1000 metres long by 400 metres wide that has been the subject of previous exploration programs in the 1970's through to the early 1990's. Six different zones were delineated in a 1990 work program, the last significant exploration campaign undertaken on the property.
TTM's work was completed in two areas: a channel sampling program to test fracture and quartz vein hosted molybdenum showings, and prospecting an area known as the "Float Zone" where previous work located quartz-sulphide veins carrying significant gold-silver mineralization. The channel sampling program did not reveal any areas of highly anomalous molybdenum though the better surface showings were snow covered. Broad areas of the gossan alteration zone were tested by channel sampling and did return some elevated silver values to a high of 13.1 g/t over 3.0 metres.
Near the headwaters of Deeker Creek, prospecting was undertaken in an effort to locate the source of mineralized quartz-sulphide boulders previously noted in the 1990 exploration program. A total of 11 samples were collected of which three returned elevated to anomalous gold assays of 2.91, 6.49 and 16.9 g/t gold. Silver was consistently elevated throughout the sample suite, ranging from 0.32 to 279 g/t silver. The highest gold assays also had the highest silver values; indicator elements associated with these higher values usually include arsenic, bismuth, cadmium, antimony, selenium and tellurium. The host rock is invariably quartz vein material with variable sulphide content ranging from a few percent up to 50% pyrite. Base metals were generally low though elevated base metals, lead and zinc were associated with some of the better results. The table below summarizes the results of the prospecting samples.
2012 Prospecting Sample Summary
|Sample #||Easting (UTM)||Northing (UTM)||Au (ppm)||Ag (ppm)||Pb (ppm)||Zn (ppm)|
All rock samples were shipped to ALS Global in North Vancouver, BC where they were analysed by 51-element ICP analyses utilizing an aqua regia digest with an MS finish. Gold assay was by aqua regia digestion of a 15 gram pulp with an MS finish. Essentially, this is a trace level ICP analysis plus gold, coded by ALS as TL43-PKG. Overlimits for gold and silver were by conventional fire. No blanks, duplicates or standards were inserted into the sample stream for quality control purposes. The program was small in nature and the laboratory's internal quality control measures were considered sufficient.
TTM Resources has never undertaken a comprehensive evaluation of the Deeker Creek Property but, given the encouraging results to date, further work is warranted. A program of detailed geological mapping would aid in better defining the areas of mineralization and structural constraints. Once the mineralized zones are better defined, channel sampling would be completed to determine the grades and widths of the zones. In addition, an IP survey over the bulk of the gossan zone would greatly aid in locating areas of high chargeability response that may be indicative of a porphyry style copper-molybdenum system. A big priority would be to locate the source of the gold-silver bearing quartz veins followed by evaluation of the vein system to determine grade, width, and length. Upon compilation of the data, a follow-up drill program would be undertaken to test the better targets.
W.K. Crichy Clarke, the Company's President and CEO, comments: "We are very encouraged by the preliminary results from our work program this past summer. The results warrant further exploration in the area and an extensive program will be undertaken this spring and summer. We will keep our shareholders informed."
This news release has been reviewed and approved by Wesley Raven, P.Geo., who is the qualified person for the project as defined under NI 43-101.
About TTM Resources Inc.
TTM Resources Inc. is a Vancouver, British Columbia based Molybdenum Development and Exploration Company focused on the resource development of the Chu Molybdenum Project and two other molybdenum properties in British Columbia, Canada.
TTM RESOURCES INC.
W.K. Crichy Clarke, President, CEO & Director
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND INFORMATION
This news release contains certain "forward-looking information" within the meaning of Canadian securities laws. Actual results may differ materially from those indicated by such forward-looking information. All information included herein, other than statements of historical fact, including, without limitation, information regarding future production, is considered forward-looking information and involves various risks and uncertainties. There can be no assurance that the forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: TTM Resources Inc.
For further information:
visit the Company's web site at www.ttmresources.ca, or contact:
W.K. Crichy Clarke or Tom Brady
Phone: 604.685.1144 / Toll Free: 1.877.685.1144
Email: [email protected]