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Chu Molybdenum Project
The Chu Molybdenum Project (the ‘Chu Project’) is located in the Omineca Region of Central British Columbia and is comprised of 44 contiguous mineral claims. The Chu Project covers an area of 16,782 hectares and is located approximately 85 kilometres south-southwest of Vanderhoof, BC, and approximately 75 kilometres south-southeast from Thompson Creek Metals Company Inc (TSX:TCM) 75% owned Endako Moly mine and processing facility. The Chu Project enjoys years round development and exploration.
43-101 Report on Chu Molybdenum Project »
The Chu Project is an area of molybdenite mineralized meta-sedimentary rocks adjacent to a granodiorite intrusive stock. TTM has completed over 69,000 meters of core drilling with numerous long intercepts of ore grade molybdenum including hole CHE-07-19 which delivered 504.4 meters of 0.109% Mo. Assay results indicate that the deposit would have a low stripping ratio as the mineralization extends to near surface. Exploration programs for 2011-2012 will concentrate on the Chu Project to advance the project to the Pre-Feasibility stage. The bulk of this program will entail additional drilling of up to 30,000 metres to bring the large Inferred Resource to at least the Indicated classification. Engineering work will include geotechnical evaluation of the Tailings Site Facility, groundwater monitoring, and orientated drilling for pit design and rock stability. Environmental studies are ongoing as are discussions with First Nations in the project area.
CHU PROJECT – MEASURED PLUS INDICATED RESOURCE
| Mo Cutoff | Tonnes> Cutoff | Grade > Cutoff | |||
| (%) | (tonnes) | Mo % | Cu (%) | Million lbs Mo | Million lbs Cu |
| 0.02 | 795,040,000 | 0.043 | 0.034 | 753.8 | 596.0 |
| 0.03 | 568,830,000 | 0.050 | 0.035 | 627.1 | 439.0 |
| 0.04 | 370,640,000 | 0.059 | 0.035 | 482.2 | 286.0 |
| 0.05 | 219,720,000 | 0.068 | 0.036 | 329.4 | 174.4 |
| 0.06 | 129,060,000 | 0.078 | 0.036 | 222.0 | 102.4 |
| 0.07 | 74,880,000 | 0.088 | 0.037 | 145.3 | 61.1 |
| 0.08 | 43,170,000 | 0.098 | 0.038 | 93.3 | 36.2 |
| 0.09 | 25,010,000 | 0.108 | 0.040 | 59.6 | 22.1 |
| 0.10 | 14,260,000 | 0.118 | 0.042 | 37.1 | 13.2 |
CHU PROJECT – INFERRED RESOURCE
| Mo Cutoff | Tonnes> Cutoff | Grade > Cutoff | |||
| (%) | (tonnes) | Mo % | Cu (%) | Million lbs Mo | Million lbs Cu |
| 0.02 | 969,050,000 | 0.035 | 0.032 | 747.9 | 683.8 |
| 0.03 | 531,590,000 | 0.043 | 0.034 | 504.0 | 398.5 |
| 0.04 | 256,560,000 | 0.052 | 0.036 | 294.2 | 203.7 |
| 0.05 | 113,320,000 | 0.062 | 0.037 | 154.9 | 92.5 |
| 0.06 | 52,160,000 | 0.072 | 0.039 | 82.8 | 44.9 |
| 0.07 | 23,950,000 | 0.080 | 0.042 | 42.2 | 22.2 |
| 0.08 | 9,910,000 | 0.088 | 0.048 | 19.2 | 10.5 |
| 0.09 | 3,080,000 | 0.098 | 0.052 | 6.7 | 3.5 |
| 0.10 | 910,000 | 0.109 | 0.052 | 2.2 | 1.0 |
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