TSX-V: TTQ
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) |
43151 |
680179 |
6367152 |
0.001 |
0.37 |
3.4 |
23 |
43152 |
320025 |
6367106 |
0.002 |
98.0 |
228 |
2 |
43153 |
319885 |
6367104 |
<0.001 |
0.32 |
5.8 |
4 |
43154 |
319884 |
6367103 |
<0.001 |
0.39 |
6.7 |
3 |
43155 |
319888 |
6367099 |
0.001 |
0.79 |
4.8 |
<2 |
43156 |
319892 |
6367095 |
0.038 |
0.73 |
162 |
5 |
43157 |
319911 |
6367085 |
0.001 |
1.74 |
19.8 |
10 |
43158 |
322100 |
6366058 |
0.001 |
0.87 |
5.8 |
4 |
43159 |
322096 |
6366069 |
2.91 |
116.0 |
445 |
109 |
43160 |
322102 |
6366071 |
0.108 |
16.35 |
365 |
387 |
43161 |
322117 |
6366065 |
0.012 |
1.61 |
17.6 |
3 |
43162 |
322134 |
6366079 |
0.014 |
10.6 |
84.6 |
21 |
43163 |
322150 |
6366094 |
0.156 |
13.9 |
39.5 |
4 |
43164 |
322188 |
6366139 |
0.004 |
1.02 |
18 |
24 |
43165 |
322212 |
6366188 |
6.49 |
279.0 |
379 |
344 |
43166 |
322009 |
6366166 |
0.966 |
18.95 |
1860 |
953 |
43167 |
322063 |
6366080 |
0.032 |
1.42 |
46.6 |
26 |
43168 |
322134 |
6366079 |
16.9 |
49.8 |
8360 |
2530 |
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.
"Crichy Clarke"
W.K. Crichy Clarke, President, CEO & Director
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INFORMATION
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SOURCE TTM Resources Inc.