International Tower Hill Mines Ltd. ("ITH" or "the Company") -
(TSX: ITH)(NYSE Amex: THM)(FRANKFURT: IW9) is pleased to announce
the results from its fall 2009 drilling campaign at the Coffee Dome
project, Alaska. Five core holes, totalling 1356 metres, were
drilled testing two of the three priority target areas, UAF and
Zesiger (Figure 1). Results from the UAF area returned multiple,
thick zones of low grade gold, highlighted by 17 metres @ 0.3 g/t
gold and 22 metres @ 0.21 g/t gold in hole CD-09-03 (Table 1).
These results have defined a large, broad zone of stratigraphically
controlled gold mineralization within part of the larger UAF-Miller
target area that extends for at least 2 kilometres to the north.
The Company is currently analyzing the structural data from the
drilling in an effort to target higher grade feeders to the system.
The Coffee Dome project is road accessible and 17 kilometres
northeast of the Fort Knox mine.
To view figure one please visit the following link:
http://media3.marketwire.com/docs/ITHFigureOne.pdf
UAF Area
The UAF target is focused along a projected northeast trending
structural zone which appears to be steeply dipping to the south
(Figure 2). The target has coincident resistivity and high-grade
gold in soil anomalies. The target as currently defined extends for
approximately 500 metres by 250 metres. The drilling showed that
the resistivity anomaly is due to the presence of a flat-lying
quartzite unit and that the quartzite unit is preferentially
mineralized due to strong fracturing which hosts numerous
mineralized quartz veins. Very little sulphide was encountered in
the drilling and, geochemically, the system appears to be
exclusively gold+arsenic in this area. The information gained at
UAF will help understand the overall relationship between the UAF
and the Miller targets.
Zesiger Discovery Area
One hole was drilled in the Zesiger target and was designed to
cross a projected fault zone which hosted high grade mineralization
in surface trenching. The hole encountered the fault zone but
failed to return significant gold mineralization.
To view figure two please visit the following link:
http://media3.marketwire.com/docs/ITH-FigureTwo.pdf
Implications
The drilling in the UAF area has demonstrated the potential of
the quartzite unit to host thick zones of gold mineralization along
a broad NNE structural zone. The next step in the Coffee Dome
exploration plan will be to target specific structural zones with
potential to host higher grade feeder zones within this the greater
UAF-Miller target area.
Table 1: Mineralized intercepts from Coffee Dome Drilling.
(0.09g/t cutoff, max of 2 metres internal waste and
only intercepts with greater than 0.15g/t gold included)
Length
Hole ID From (metres) To (metres) (metres) Gold (g/t)
---------------------------------------------------------------------------
---------------------------------------------------------------------------
CD-09-01 No Significant Intercepts
CD-09-02 0.00 1.96 1.96 0.27
26.21 27.58 1.37 0.15
31.10 32.41 1.31 0.27
49.07 50.29 1.22 0.21
56.37 58.83 2.46 0.26
84.73 86.87 2.14 0.28
118.57 119.79 1.22 0.23
125.88 127.10 1.22 0.16
CD-09-03 1.52 2.44 0.92 0.17
10.97 12.12 1.15 0.28
19.20 40.96 21.76 0.21
78.37 80.76 2.39 0.15
92.13 92.96 0.83 0.27
96.72 100.98 4.26 0.17
105.16 122.23 17.07 0.30
145.39 146.61 1.22 0.31
192.33 193.55 1.22 0.84
222.20 223.42 1.22 0.34
260.30 261.52 1.22 3.56
274.93 277.98 3.05 0.25
CD-09-04 27.13 29.67 2.54 0.53
65.93 67.06 1.13 0.89
91.44 92.66 1.22 0.32
CD-09-05 9.45 23.32 13.87 0.18
33.03 36.48 3.45 0.16
99.70 100.58 0.88 0.16
107.59 125.97 18.38 0.21
Project Background
Coffee Dome is located in the Fairbanks Gold Mining District, 17
kilometres northeast of the Fort Knox Gold Mine. The project is
accessed by roads that are maintained by the Alaska Department of
Transport and the Alaska Division of Forestry. The mineralization
at Coffee Dome was discovered after fires in 2004 exposed the
surface for the first time, revealing several trains of quartz vein
float with high-grade gold mineralization. The project has three
major gold targets with many other anomalies that continue to be
developed (Figure 1). The surface gold in soil anomaly covers an
area of two square kilometres and is still open in many areas.
ITH controls 100% of its 41 square kilometre land package at
Coffee Dome, which is primarily made up of State of Alaska Mining
Claims owned or leased by ITH and fee simple land leased from the
University of Alaska. The Company and its predecessor, AngloGold
Ashanti (U.S.A.) Exploration Inc., have been exploring the Coffee
Dome area since 2005 when the first mineralized quartz vein samples
were collected. Soil and rock surveys conducted between 2005 and
2009 have progressively advanced the property. Soil surveys in 2005
and 2006 delineated a number of soil anomalies, the most
substantial being the UAF Zone which measures 300 x 160 metres with
most of the soils running in excess of 0.1 g/t gold. In 2007, 400
meters of trenches were dug. The 2009 drilling program represents
the first time the property has ever been drilled.
Geological Overview
Very high grade quartz-gold-arsenopyrite veins hosted in the
Palaeozoic Fairbanks Schist occur at the Coffee Dome Project.
Mineralization is characterized by high values of gold, bismuth and
arsenic, a signature typical of the high temperature mineralization
at the Fort Knox and Pogo Gold Mines. Trenching showed that
mineralization occurs as veins associated with a variety of fault
structures in the schist, ranging from low-angle, oblique slip
structures to high-angle NE-trending faults.
Qualified Person and Quality Control/Quality Assurance
Jeffrey A. Pontius (CPG 11044), a qualified person as defined by
National Instrument 43-101, has supervised the preparation of the
scientific and technical information that forms the basis for this
news release and has approved the disclosure herein. Mr. Pontius is
not independent of ITH, as he is the President and CEO and holds
common shares and incentive stock options.
The work program at Coffee Dome was designed and supervised by
Dr. Russell Myers, Vice President, Exploration, and Chris Puchner,
Chief Geologist (CPG 07048), of the Company, who are responsible
for all aspects of the work, including the quality control/quality
assurance program. On-site personnel at the project log and
photograph the core from each individual borehole prior to
preparing the split core. On-site personnel at the project log and
track all samples prior to sealing and shipping. All sample
shipments are sealed and shipped to Alaska Assay Laboratories in
Fairbanks, Alaska for preparation and a preliminary gold assay.
Pulps are then transferred to ALS Chemex in Fairbanks who forward
them to other ALS Chemex facilities for final gold and
multi-element analysis. ALS Chemex's quality system complies with
the requirements for the International Standards ISO 9001:2000 and
ISO 17025: 1999. Analytical accuracy and precision are monitored by
the analysis of reagent blanks, reference material and replicate
samples. Quality control is further assured by the use of
international and in-house standards. Finally, representative blind
duplicate samples are forwarded to ALS Chemex and an ISO compliant
third party laboratory for additional quality control.
About International Tower Hill Mines Ltd.
International Tower Hill Mines Ltd. is a resource exploration
company, focused in Alaska and Nevada, which controls a number of
exploration projects representing a spectrum of early stage to the
advanced multimillion ounce gold discovery at Livengood. ITH is
committed to building shareholder value through new discoveries
while maintaining a majority interest in its key holdings, thereby
giving its shareholders the maximum value for their investment.
On behalf of International Tower Hill Mines Ltd.
Jeffrey A. Pontius, President and Chief Executive Officer
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act and Section 27E of
the Exchange Act. All statements, other than statements of
historical fact, included herein including, without limitation,
statements regarding the anticipated content, commencement and cost
of exploration programs, anticipated exploration program results,
the discovery and delineation of mineral
deposits/resources/reserves, business and financing plans and
business trends, are forward-looking statements. Although the
Company believes that such statements are reasonable, it can give
no assurance that such expectations will prove to be correct.
Forward-looking statements are typically identified by words such
as: believe, expect, anticipate, intend, estimate, postulate and
similar expressions, or are those, which, by their nature, refer to
future events. The Company cautions investors that any
forward-looking statements by the Company are not guarantees of
future results or performance, and that actual results may differ
materially from those in forward looking statements as a result of
various factors, including, but not limited to, variations in the
nature, quality and quantity of any mineral deposits that may be
located, variations in the market price of any mineral products the
Company may produce or plan to produce, the Company's inability to
obtain any necessary permits, consents or authorizations required
for its activities, the Company's inability to produce minerals
from its properties successfully or profitably, to continue its
projected growth, to raise the necessary capital or to be fully
able to implement its business strategies, and other risks and
uncertainties disclosed in the Company's Annual Information Form
filed with certain securities commissions in Canada and the
Company's annual report on Form 20-F filed with the United States
Securities and Exchange Commission (the "SEC"), and other
information released by the Company and filed with the appropriate
regulatory agencies. All of the Company's Canadian public
disclosure filings may be accessed via www.sedar.com and its United
States public disclosure filings may be accessed via www.sec.gov,
and readers are urged to review these materials, including the
technical reports filed with respect to the Company's mineral
properties.
Cautionary Note Concerning Similar Mineral Property
References
This press release contains information with respect to adjacent
or similar mineral properties in respect of which the Company has
no interest or rights to explore or mine. The Company advises US
investors that the US Securities and Exchange Commission's mining
guidelines strictly prohibit information of this type in documents
filed with the SEC. Readers are cautioned that the Company has no
interest in or right to acquire any interest in any such
properties, and that mineral deposits on adjacent or similar
properties are not indicative of mineral deposits on the Company's
properties.
This press release is not, and is not to be construed in any way
as, an offer to buy or sell securities in the United States.
Neither TSX Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Exchange) accepts
responsibility for the adequacy or accuracy of this press release,
which has been prepared by management.
Contacts: International Tower Hill Mines Ltd. Quentin Mai
Vice-President - Corporate Communications 1-888-770-7488 (toll
free) or (604) 683-6332 (604) 408-7499 (FAX)
qmai@internationaltowerhill.com www.internationaltowerhill.com
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