CHU MOLYBDENUM PROPERTY

Summary

The Chu Molybdenum Project (the “Chu Project”) is located in the Omineca Region of Central British Columbia and is comprised of 36 contiguous mineral claims. The Chu Project covers an area of 14,812 hectares and is approximately 85 kilometers south-southwest of Vanderhoof, BC, and approximately 75 kilometers from Thompson Creek Metals Company Inc. (TSX:TCM) 75% owned Endako Moly mine and processing facility.

The Property

The ‘Chu’ Project is an area of molybdenite mineralized sedimentary rocks adjacent to a granodiorite intrusive stock. The prospect has been previously explored in the early 1980’s by more than 5000 meters of diamond drilling from previous operators. Molybdenum is present as quartz – molybdenite stockwork veinlets in hornsfelsed . Sections of higher grade molybdenite mineralization are common features of molybdenum-producing deposits and their presence strongly enhances the viability of the mines. The waste to ore ratio appears to be one to one. To date the CHU Project has been extended to over 1.7 kilometers in length, over 650 meters in depth, and 400 meters wide.

Click here to see the East Zone Drill Holes
Click here to see the West Zone Drill Holes

Historical drill results identified lengthy sections of ‘strong’ molybdenum mineralization, such as, 113 meters with 0.0741 Mo (hole 81-2), 61 meters with 0.075 Mo (hole 81-6) and 28.3 meters with 0.157% Mo (hole 82-2). The amount and distribution of drilling was insufficient to permit more than a general determination of the size and orientation of the known mineral zone. Armco withdrew from western Canadian mineral exploration in 1982, and transferred its Chu interest to its partner, Asarco. The claims were allowed to expire in 1992 without further work being done. The final Armco report referred to “…well in excess of 50 million tonnes with grade 0.072 to 0.096% Mo” although this report is not NI 43-101 compliant. TTM has been drilling the property since December 2006.