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TTM Resources Metallurgical Results and Section 10

TTM Resources Inc. has received from the British Columbia Environmental Assessment Office (BCEAO) a Section 10 order for TTM Resources Inc.’s Chu molybdenum project located 85 kilometres south of Vanderhoof, B.C., in the Omineca mining division.

The Chu molybdenum project description was submitted by the company on April 2, 2009, and received a Section 10 order from the BCEAO on May 1, 2009. The Section 10 order is recognition by the British Columbia government that the Chu molybdenum project is reviewable project under the Environmental Reviewable Projects Legislation and will require an environmental assessment certificate prior to obtaining mining permits.

The project description for the company’s Chu molybdenum project outlines TTM’s proposed open pit molybdenum mine at a production rate of 60,000 tonnes per day for annual production of 21 million tonnes over a projected 31-year mine life. At this projected mining rate the project would produce in excess of 600 million pounds of molybdenum and in excess of 450 million pounds of copper. The proposed project would also include 120 kilometres of electric power transmission lines, an electric powered mill facility consisting of crushing, grinding and conventional flotation concentration yielding a molybdenite concentrate.

The project description has now been accepted by the BC and Canadian Environmental Assessment Agencies and the newly formed Federal Major Projects Management Office. The three offices will now inform TTM which first nations, local communities, provincial and federal agencies and other affected stakeholders will form the review committee for the assessment.

“This is a very important step in our continuing efforts to develop the Chu molybdenum project into a productive, 30-year mine. We look forward to working with the review committee and particularly the town of Vanderhoof and our first nations partners, to move towards that end,” says Crichy Clarke, president and chief executive officer of TTM Resources.

Two thousand nine drill highlights

TTM Resources has also released the results of four drill holes completed on the West zone earlier this spring. Three of these holes, 2009-CHU-W024 to W026, were designed as infill holes to be used in future resource/reserve calculations with an emphasis on testing near surface, higher-grade zones. The fourth hole, 2009-CHU-W027, was drilled oblique to the strike of the deposit to test for high-grade mineralization associated with northeast trending fault zones. Hole W027 was collared 60 metres south of hole CHU-06-06, with a similar orientation.

 

         DRILL RESULTS AT WEST ZONE

Drill hole       From (m) To (m)  Width (m)    Mo%

2009-CHU-W024     124.05  200.24     76.19   0.072 
and including     133.19  172.81     39.62   0.093 
2009-CHU-W024     454.70  462.36      7.66   0.135
2009-CHU-W025      84.43  108.40     23.97   0.073 
2009-CHU-W025     171.98  200.28     28.30   0.099
2009-CHU-W026      17.37  418.00    400.63   0.042 
including         230.00  273.39     43.39   0.086 
and including     235.12  265.00     29.88   0.096
2009-CHU-W027      10.67  778.83     68.16   0.053
including          22.86   71.62     48.76   0.073
including         384.37  659.86    275.49   0.073
and including     559.28  659.86    100.58   0.102

 

After spring break-up the company intends to drill up to 3,000 metres in a 12-hole program, designed to continue testing near surface, high-grade mineralization at the West zone. Some of these holes will infill gaps between reported sections, while the bulk of the drilling will test a thick quartz-feldspar-porphyry dike that has yielded high-grade values at depth and has not been tested near surface. If the initial near surface testing of the dike is successful, the program will be expanded to test downdip extensions. All 2009 drilling will be incorporated into a revised resource/reserve report to be released later this year.

“We continue to expand our resource within the confines of the pit design laid out by our engineers. Our focus to expand the near surface resource in the West pit area, continues to justify our early production plans. We continue to be impressed with our results at depth in the West area.” says Mr. Clarke.

Metallurgical results

The company is pleased to report results from metallurgical testing conducted on drill core samples from its 100-per-cent-owned Chu molybdenum project located 85 kilometres south of Vanderhoof, B.C.

The emphasis of the testing was to maximize the recovery of molybdenite into a marketable concentrate while maximizing the rejection of pyrite and chalcopyrite. Test F20 recovered 75.8 per cent molybdenum into a concentrate grading 51.5 per cent Mo, thus achieving the desired goal of producing a molybdenum concentrate of greater than 50 per cent from slightly lower than average grade material.

TTM has now prepared four additional composites from drill core assay rejects at an average grade of 0.06 per cent Mo to reflect the average grade and to reflect the various lithologies within which the mineralization is contained. These composites have been sent to SGS Lakefield to examine the universality of the F20 test parameters and to investigate additional optimization parameters. In addition to the metallurgical testing these new composites will be subjected to acid generation potential (ABA) studies.

The technical content of this metallurgical summary has been prepared by Gary Hawthorne (PEng), an independent qualified person as defined by National Instrument 43-101.

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, (PGeo) and Wesley Raven (PGeo), who are both qualified persons for the purposes of NI 43-101.

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