International Tower Hill Mines Ltd. ("ITH" or the "Company")
(TSX:ITH)(NYSE Amex:THM)(FRANKFURT:IW9) announces results from 92
drill holes completed since June 2011 at its Livengood project
located near Fairbanks, Alaska. New results from close-spaced
infill drilling in the Core and Sunshine Zones confirm resource
estimates based on wider spaced-drilling. This, and other infill
drilling, also encountered locally higher grade mineralization.
Highlights include hole MK-RC-531 which intercepted 17.27 g/t gold
over 4.6 metres in the Sunshine Zone, hole MK-RC-522 which
intercepted 8.0 g/t gold over 4.6 metres in the Core Zone and hole
MK-RC-537 which intercepted 8.7 g/t gold over 3.1 metres in the
Tower Zone. These findings enable the Company to define the higher
grade zones in the Livengood gold deposit which may be targeted
during the initial phase of mining.
The results also include drill holes focused on project
development activities related to mine design and environmental
characterization as well as step-out resource growth drill holes.
Results so far are supporting the identification of potential
infrastructure locations, although new areas of significant gold
mineralization have been identified. The Company has also completed
an initial district-wide geophysical survey which has confirmed a
strong response to alteration directly associated with the current
deposit. This finding will greatly aid in further target definition
along a 10-kilometre-long strike system previously identified on
the 145 km2 Livengood land package. Analysis of geophysical data
along trend is in progress with results expected in the following
weeks to define the next phase of district exploration drill
targets.
Site Development and District-Wide Exploration
The majority of step-out drilling conducted this summer was
directed at project development activities related to mine design
and environmental characterization. Results to date have been
encouraging for development; however, condemnation hole MK-10-97,
which was drilled over two kilometres southeast of the Money Knob
deposit, did intercept significant mineralization of 4.82 g/t gold
over 1.57 metres and favorable host rocks. In addition, holes
MK-11-119 (1.68 m at 5.72 g/t Au), MK-11-120 (1.22 m at 5.00 g/t
Au), and MK-123 (9.77 m at 0.83 g/t Au) intersected mineralized
dikes over a broad area north and east of the deposit indicating
further mineralization potential (see Figure 1 -
http://media3.marketwire.com/docs/1107ITH_Fig1.pdf). Assay results
for four additional holes in this area are pending. If findings
warrant further exploration, the Company has already identified an
alternative mill location.
Exploration drilling is also underway on the Moose and Lucky
target areas located approximately 5 kilometres to the northeast of
the current Money Knob deposit, which were previously identified
through surface soil geochemistry. Results will become available in
the upcoming months.
Geophysical Program
A district-wide 3D IP/Resistivity geophysical survey has been
completed as part of an integrated exploration program targeting
the discovery of further deposits to the east and northeast of the
current Livengood deposit (lines shown in Figure 1 -
http://media3.marketwire.com/docs/1107ITH_Fig1.pdf). Following the
completion of data acquisition, analysis of the lines over the
Money Knob Deposit has produced a strong and coherent anomaly over
the main mineralized zones. Within the Livengood Deposit,
alteration associated with the gold mineralization creates
resistivity highs (see Figure 2 -
http://media3.marketwire.com/docs/1107ITH_Fig2.pdf). This
association of high resistivity and mineralization will be an
invaluable tool in defining other district exploration targets
within the 187-line-kilometre grid.
Confirmation Drilling
Infill drilling to date on the deposit has sucessfully achieved
four objectives, all of which increase the confidence level of the
resource size and grade:
1. Evaluation of the shape and continuity of mineralization away from main
feeder zones: Infill Reverse Circulation (RC) drilling to 15-metre
spacing drilling was conducted on intersecting north-south and east-west
sections in two locations marginal to the Core and Sunshine zones (see
Figure 3 - http://media3.marketwire.com/docs/1107ITH_Fig3.pdf). Results
to date indicate similar grades and continuity to those previously
estimated.
2. Confirmation of the continuity of mineralization in the Tower and Core
zones: Infill drilling to 50-metre spacing was conducted in the Tower
and Core zones and results to date continue to confirm continuity and
grade in both zones.
3. Confirmation of data collected through RC drilling: Additional
evaluation holes were drilled to provide more RC and core drilling
comparisons. To date, these have been favorable and support the data
collected from RC drilling throughout the deposit.
4. Evaluation of the correlation of grade between RC and diamond core
drilling: Close-spaced (37.5-metre) alternating core and RC drilling of
a 150 x 150 x 150 m block (Area 50) in the heart of the Sunshine Zone in
two directions (north and northeast) was conducted to evaluate the
correlation of grade between the two drilling techniques as well as the
effect of drilling direction on the estimated grade of the block.
Results to date compare favourably with prior wide-spaced drilling and
suggest a higher grade, northwest trend within the mineralization.
Table 1: Significant new intercepts(i)
(i) Intercepts are calculated using a 0.25 g/t gold cutoff and a maximum of
3 metres of internal waste.
From To Length Gold
Hole ID (metres) (metres) (metres) (g/t) Area and Comments
---------------------------------------------------------------------------
---------------------------------------------------------------------------
MK-RC-0522 19.66 21.34 1.68 5.72 Core Zone Infill
182.88 199.64 16.76 1.21
207.26 237.74 30.48 1.17
243.84 262.13 18.29 0.68
272.80 349 76.20 1.56
Includes 277.37 281.94 4.57 8.00
Includes 291.08 306.32 15.24 1.83
Includes 315.47 329.18 13.71 1.82
350.52 457.2 106.68 0.87
MK-RC-0523 50.29 124.97 74.68 1.31 Area 50
Includes 79.25 91.44 12.19 3.11
138.68 164.59 25.91 1.62
Includes 143.26 152.4 9.14 2.67
MK-RC-0524 225.55 231.65 6.10 0.58 Core Zone
233.17 257.56 24.39 0.66
316.99 330.71 13.72 0.40
MK-RC-0525 13.72 62.48 48.76 0.98 Area 50
65.53 73.15 7.62 0.97
79.25 140.21 60.96 1.04
146.30 164.59 18.29 1.25
MK-RC-0526 30.48 41.15 10.67 0.97 Area 50
50.29 60.96 10.67 0.58
64.01 114.3 50.29 0.90
120.40 164.59 44.19 0.81
MK-RC-0527 0.00 30.48 30.48 0.59 Area 50
67.06 112.78 45.72 0.76
114.30 164.59 50.29 0.75
MK-RC-0528 28.96 50.29 21.33 0.59 Sunshine Cross
59.44 73.15 13.71 0.56
89.92 103.63 13.71 0.65
108.20 143.26 35.06 0.85
MK-RC-0529 33.53 42.67 9.14 0.69 Sunshine Cross
48.77 54.86 6.09 1.00
59.44 99.06 39.62 0.78
103.63 150.88 47.25 0.83
MK-RC-0530 64.01 114.3 50.29 1.07 Sunshine Cross
Includes 71.63 80.77 9.14 2.91
137.16 152.4 15.24 0.39
MK-RC-0531 50.29 80.77 30.48 3.34 Sunshine Cross
Includes 67.06 71.63 4.57 17.27
96.01 123.44 27.43 0.71
MK-RC-0532 35.05 88.39 53.34 0.68 Sunshine Cross
105.16 118.87 13.71 0.86
126.49 135.64 9.15 0.65
MK-RC-0533 7.62 19.81 12.19 0.69 Core Zone Infill
92.96 103.63 10.67 1.62
184.40 192.02 7.62 1.10
196.60 216.41 19.81 1.11
MK-RC-0534 15.24 30.48 15.24 0.81 Tower Zone Infill
265.18 284.99 19.81 0.51
286.51 303.28 16.77 0.39
MK-RC-0535 64.01 71.63 7.62 0.71 Core Zone
85.34 91.44 6.10 1.07
106.68 118.87 12.19 1.45
190.50 207.26 16.76 0.50
217.93 233.17 15.24 0.80
288.04 298.7 10.66 0.55
MK-RC-0536 120.40 129.54 9.14 0.70 Tower Zone Infill
316.99 324.61 7.62 0.96
333.76 349 15.24 0.40
MK-RC-0537 85.34 89.92 4.58 2.62 Tower Zone Infill
92.96 121.92 28.96 0.80
126.49 131.06 4.57 5.90
Includes 128.02 131.06 3.04 8.70
135.64 143.26 7.62 0.98
184.40 193.55 9.15 1.77
248.41 259.08 10.67 1.87
271.27 291.08 19.81 0.55
326.14 368.81 42.67 0.80
373.38 377.95 4.57 2.85
397.76 411.48 13.72 0.93
MK-RC-0538 59.44 64.01 4.57 2.99 Tower Zone Infill
126.49 137.16 10.67 0.59
150.88 169.16 18.28 0.64
227.08 228.6 1.52 4.26
233.17 237.74 4.57 0.61
265.18 303.28 38.10 0.38
304.80 321.56 16.76 0.47
327.66 333.76 6.10 1.01
MK-RC-0539 21.34 22.86 1.52 7.55 Core Cross
53.34 65.53 12.19 2.28
Includes 54.86 57.91 3.05 7.88
129.54 137.16 7.62 0.80
163.07 195.07 32.00 0.71
211.84 225.55 13.71 0.41
MK-RC-540 135.64 149.35 13.71 1.59 Tower Zone Infill
150.88 156.97 6.09 0.99
164.59 182.88 18.29 1.67
Includes 166.12 170.69 4.57 4.58
234.70 240.79 6.09 1.68
MK-RC-0541 123.44 150.88 27.44 1.69 Core Cross
164.59 199.64 35.05 0.95
204.22 228.6 24.38 0.82
MK-RC-0542 56.39 91.44 35.05 0.56 Core Cross
103.63 121.92 18.29 1.16
169.16 207.26 38.10 0.70
MK-RC-0543 1.52 32 30.48 0.46 Sunshine Cross
36.58 121.92 85.34 0.71
MK-RC-0544 21.34 28.96 7.62 1.06 Core Cross
89.92 100.58 10.66 0.86
132.59 143.26 10.67 0.70
161.54 198.12 36.58 0.75
MK-RC-0545 74.68 83.82 9.14 2.51 Core Cross
106.68 126.49 19.81 0.83
137.16 149.35 12.19 0.54
158.50 187.45 28.95 0.57
192.02 195.07 3.05 1.76
201.17 213.36 12.19 1.19
MK-RC-0546 68.58 117.35 48.77 0.48 Core Cross
124.97 132.59 7.62 1.65
144.78 181.36 36.58 0.54
192.02 213.36 21.34 0.50
222.50 228.6 6.10 1.93
MK-RC-0547 79.25 121.92 42.67 0.98 Sunshine Cross
MK-RC-0548 0.00 12.19 12.19 0.77 Sunshine Cross
16.76 28.96 12.20 0.84
44.20 59.44 15.24 0.78
67.06 149.35 82.29 0.63
MK-RC-0549 0.00 3.05 3.05 3.63 Sunshine Cross
10.67 62.48 51.81 1.00
65.53 141.73 76.20 0.76
MK-RC-0550 28.96 35.05 6.09 1.21 Sunshine Cross
86.87 121.92 35.05 0.78
MK-RC-0551 24.38 41.15 16.77 0.65 Sunshine Cross
59.44 100.58 41.14 0.51
131.06 147.83 16.77 0.36
MK-RC-0552 1.52 18.29 16.77 0.42 Sunshine Cross
25.91 38.1 12.19 0.88
47.24 57.91 10.67 0.52
77.72 117.35 39.63 0.45
MK-RC-0555 67.06 79.25 12.19 0.48 Core Cross
103.63 114.3 10.67 0.65
173.74 201.17 27.43 0.62
214.88 225.55 10.67 0.68
MK-RC-0556 35.05 39.62 4.57 1.93 Core Cross
62.48 83.82 21.34 0.73
132.59 156.97 24.38 0.55
181.36 201.17 19.81 0.81
MK-RC-0557 0.00 7.62 7.62 0.44 Area 50
33.53 47.24 13.71 1.10
54.86 92.96 38.10 0.78
111.25 164.59 53.34 0.53
MK-RC-0559 9.14 19.81 10.67 0.86 Sunshine Cross
42.67 67.06 24.39 0.58
77.72 89.92 12.20 0.74
94.49 106.68 12.19 0.52
128.02 146.3 18.28 0.83
MK-RC-0560 4.57 32 27.43 0.48 Sunshine Cross
44.20 53.34 9.14 0.88
106.68 128.02 21.34 0.44
MK-RC-0561 19.81 32 12.19 0.64 Sunshine Cross
41.15 51.82 10.67 0.53
54.86 65.53 10.67 1.46
67.06 86.87 19.81 1.09
89.92 115.82 25.90 0.83
134.11 141.73 7.62 0.73
MK-RC-0562 47.24 54.86 7.62 0.90 Core Cross
64.01 73.15 9.14 0.67
77.72 85.34 7.62 1.13
120.40 143.26 22.86 0.49
146.30 163.07 16.77 0.79
178.31 201.17 22.86 0.77
MK-RC-0563 7.62 36.58 28.96 0.69 Sunshine Cross
47.24 56.39 9.15 0.83
74.68 80.77 6.09 0.44
92.96 111.25 18.29 0.49
115.82 129.54 13.72 0.63
135.64 152.4 16.76 0.41
MK-RC-0564 32.00 41.15 9.15 0.79 Sunshine Cross
70.10 83.82 13.72 0.77
85.34 97.54 12.20 0.48
128.02 140.21 12.19 0.88
150.88 155.45 4.57 1.24
175.26 195.07 19.81 0.65
196.60 222.5 25.90 0.49
MK-RC-0565 1.52 24.38 22.86 0.57 Area 50
30.48 50.29 19.81 0.43
54.86 68.58 13.72 0.69
77.72 92.96 15.24 0.83
103.63 152.4 48.77 0.71
MK-RC-0566 35.05 48.77 13.72 0.92 Core Cross
100.58 114.3 13.72 0.39
131.06 178.31 47.25 1.07
185.93 195.07 9.14 0.68
204.22 219.46 15.24 0.41
MK-RC-0567 50.29 53.34 3.05 1.79 Area 50
74.68 79.25 4.57 1.29
112.78 131.06 18.28 0.58
153.92 164.59 10.67 1.30
MK-RC-0568 3.05 57.91 54.86 0.55 Area 50
62.48 92.96 30.48 1.56
Includes 65.53 68.58 3.05 9.76
99.06 129.54 30.48 1.10
134.11 152.4 18.29 0.61
MK-RC-0569 1.52 10.67 9.15 0.79 Area 50
89.92 92.96 3.04 2.09
111.25 117.35 6.10 0.85
121.92 164.59 42.67 0.99
Includes 144.78 164.59 19.81 1.56
MK-RC-0571 1.52 30.48 28.96 0.48 Area 50
65.53 74.68 9.15 0.59
89.92 100.58 10.66 0.41
111.25 114.3 3.05 1.55
143.26 152.4 9.14 1.37
MK-RC-0572 32.00 39.62 7.62 0.91 Core Cross
45.72 51.82 6.10 1.06
64.01 82.3 18.29 1.51
Includes 68.58 76.2 7.62 2.95
83.82 91.44 7.62 1.08
94.49 131.06 36.57 1.12
135.64 152.4 16.76 0.77
172.21 188.98 16.77 0.47
202.69 228.6 25.91 0.52
MK-RC-0575 56.39 68.58 12.19 0.81 Core Cross
123.44 128.02 4.58 0.86
134.11 179.83 45.72 0.82
199.64 228.6 28.96 0.81
MK-RC-0576 79.25 92.96 13.71 0.79 Tower Zone Infill
150.88 158.5 7.62 1.06
318.52 329.18 10.66 0.49
MK-RC-0577 9.14 10.67 1.53 4.04 Core Cross
18.29 35.05 16.76 0.61
47.24 54.86 7.62 0.96
76.20 82.3 6.10 0.71
85.34 94.49 9.15 0.48
102.11 105.16 3.05 1.95
144.78 155.45 10.67 0.33
160.02 164.59 4.57 0.87
172.21 193.55 21.34 0.78
199.64 228.6 28.96 0.97
MK-RC-0578 114.30 166.12 51.82 0.81 Sunshine Zone
170.69 237.74 67.05 0.68
242.32 262.13 19.81 0.54
266.70 268.22 1.52 3.36
281.94 284.99 3.05 2.07
291.08 316.99 25.91 1.51
Includes 313.94 316.99 3.05 7.53
332.23 341.38 9.15 1.70
MK-RC-0579 4.57 50.29 45.72 0.67 Area 50
MK-RC-0580 1.52 3.05 1.53 23.27 Area 50
18.29 19.81 1.52 23.26
25.91 50.29 24.38 1.33
Includes 33.53 39.62 6.09 3.18
74.68 76.2 1.52 14.20
80.77 82.3 1.53 9.18
114.30 126.49 12.19 0.43
134.11 135.64 1.53 6.61
138.68 155.45 16.77 0.48
MK-RC-0581 10.67 67.06 56.39 0.58 Sunshine Cross
76.20 117.35 41.15 0.77
135.64 152.4 16.76 0.54
MK-RC-0582 30.48 54.86 24.38 1.14 Sunshine Cross
Includes 30.48 38.1 7.62 2.66
97.54 129.54 32.00 0.51
MK-RC-0583 64.01 80.77 16.76 0.86 Area 50
108.20 115.82 7.62 4.19
Includes 111.25 114.3 3.05 10.08
120.40 135.64 15.24 0.36
152.40 164.59 12.19 0.99
MK-RC-0584 4.57 16.76 12.19 0.84 Area 50
82.30 94.49 12.19 1.71
144.78 152.4 7.62 0.90
MK-10-93 24.40 28.19 3.79 1.45 Geotech/Condemnation
MK-10-94 geotechnical/condemnation hole, no significant intercepts
MK-10-95 geotechnical/condemnation hole, no significant intercepts
MK-10-96 geotechnical/condemnation hole, no significant intercepts
MK-10-97 12.19 13.72 1.53 4.82 Geotech/Condemnation
MK-10-98 geotechnical/condemnation hole, no significant intercepts
MK-10-99 geotechnical/condemnation hole, no significant intercepts
MK-10-100 geotechnical/condemnation hole, no significant intercepts
MK-10-101 geotechnical/condemnation hole, no significant intercepts
MK-10-102 geotechnical/condemnation hole, no significant intercepts
MK-10-106 geotechnical/condemnation hole, no significant intercepts
MK-11-107 geotechnical/condemnation hole, no significant intercepts
MK-11-109 geotechnical/condemnation hole, no significant intercepts
MK-11-111 geotechnical/condemnation hole, no significant intercepts
MK-11-112 geotechnical/condemnation hole, no significant intercepts
MK-11-113 geotechnical/condemnation hole, no significant intercepts
MK-11-115 geotechnical/condemnation hole, no significant intercepts
MK-11-117 geotechnical/condemnation hole, no significant intercepts
MK-11-118 geotechnical/condemnation hole, no significant intercepts
MK-11-119 19.66 21.34 1.68 5.72 Geotech/Condemnation
MK-11-120 7.92 9.14 1.22 5.00 Geotech/Condemnation
MK-11-122 geotechnical/condemnation hole, no significant intercepts
MK-11-123 25.74 35.51 9.77 0.83 Geotech/Condemnation
MK-11-125 geotechnical/condemnation hole, no significant intercepts
MK-11-126 geotechnical/condemnation hole, no significant intercepts
MK-11-127 geotechnical/condemnation hole, no significant intercepts
MK-11-128 geotechnical/condemnation hole, no significant intercepts
MK-11-129 lost hole, no significant intercepts SW Exploration
MK-11-130 geotechnical hole, no significant intercepts
MK-11-131 geotechnical hole, no significant intercepts
MK-11-132 no significant intercepts SW Exploration
MK-11-135 no significant intercepts SW Exploration
MK-11-139 geotechnical hole, no significant intercepts
MK-11-147 261.80 263.35 1.55 3.21 SW Exploration
306.20 328.27 22.07 0.38
MK-11-155 geotechnical hole, no significant intercepts
Livengood Project Highlights
ITH controls 100% of its approximately 145 square kilometre
Livengood land package, which is made up of fee land leased from
the Alaska Mental Health Trust, a number of smaller private mineral
leases and 115 Alaska state mining claims. The project has a
favourable logistical location, being situated 110 road kilometres
north of Fairbanks, Alaska, along the paved, all-weather Elliott
Highway, the Trans-Alaska Pipeline Corridor, and the proposed
Alaska natural gas pipeline route. The terminus of the Alaska State
power grid lies approximately 80 kilometres to the south.
Ongoing metallurgical studies are focused on the optimization of
the milling and flotation unit operations contemplated in the
updated August 2011 PEA.
The geometry of the currently defined shallowly dipping,
outcropping deposit enables development of a large scale, low
stripping ratio surface mine capable of generating significant
production economies of scale. The surface gold geochemical anomaly
at Livengood covers an area 10 kilometres long by 2 kilometres
wide, of which approximately one quarter has been explored by
drilling to date. Surface exploration is ongoing as new targets are
being developed to the east and west of the known deposit.
Geological Overview
The Livengood Deposit is hosted in a thrust-interleaved sequence
of Proterozoic to Paleozoic sedimentary and volcanic rocks.
Mineralization is related to a 90 million year old (Fort Knox age)
dike swarm that cuts through the thrust stack. Primary ore controls
are a combination of favorable lithologies and crosscutting
structural zones. In areas distal to the main structural zones, the
selective development of disseminated mineralization in favourable
host rocks is the main ore control. Within the primary structural
corridors, all lithologies can be pervasively altered and
mineralized. Devonian volcanic rocks and Cretaceous dikes represent
the most favourable host lithologies and are pervasively altered
and mineralized throughout the deposit. Two dominant structural
controls are present: 1) the major shallow south-dipping faults
which host dikes and mineralization which are related to dilatant
movement on structures of the original fold-thrust architecture
during post-thrusting relaxation, and 2) steep NW trending linear
zones which focus the higher-grade mineralization which cuts across
all lithologic boundaries. The net result is broad flat-lying zones
of stratabound mineralization around more vertically continuous,
higher grade core zones with a resulting lower strip ratio for the
overall deposit and higher grade areas that could be amenable for
starter pit production.
The surface gold geochemical anomaly at Livengood covers an area
6 kilometres long by 2 kilometres wide of which approximately half
has been explored by drilling to date. Surface exploration is
ongoing as new targets are being developed to the northeast and
west of the known deposit.
Qualified Person and Quality Control/Quality Assurance
Chris Puchner (CPG 07048), 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. Puchner is
not independent of ITH, as he is an employee and holds common
shares and incentive stock options.
The resource work program at Livengood was designed and is
supervised by Chris Puchner, Chief Geologist (CPG 07048), of the
Company, who is responsible for all aspects of the work, including
the quality control/quality assurance program. On-site personnel at
the project photograph the core from each individual borehole prior
to preparing the split core. Duplicate reverse circulation drill
samples are collected with one split sent for analysis.
Representative chips are retained for geological logging. On-site
personnel at the project log and track all samples prior to sealing
and shipping. All sample shipments are sealed and shipped to ALS
Chemex in Fairbanks, Alaska for preparation and then on to ALS
Chemex in Reno, Nevada or Vancouver, B.C. for assay. 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. controls a 100% interest in
the world-class Livengood Gold Project accessible by paved highway
70 miles north of Fairbanks, Alaska. ITH is focused on the rapid
advancement of the project into a compelling potential development
project in 2011 while it continues to expand its current resource
and explore its 145 km2 district for new deposits.
On behalf of International Tower Hill Mines Ltd.
James Komadina, President and Chief Executive Officer
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements and
forward-looking information (collectively, "forward-looking
statements") within the meaning of applicable Canadian and US
securities legislation. All statements, other than statements of
historical fact, included herein including, without limitation,
statements regarding the anticipated content, commencement,
completion and cost of exploration programs, anticipated
exploration program results and the timing thereof, the discovery
and delineation of mineral deposits/resources/reserves, the
potential for the expansion of the estimated resources at
Livengood, the potential for any optimization of the milling and
flotation unit operations contemplated in the updated August 2011
PEA, the potential for any production at the Livengood project, the
potential for geometry of the currently defined shallowly dipping,
outcropping deposit to enable the development of a large scale, low
stripping ratio surface mine capable of generating significant
production economies of scale, the potential for the higher grade
zones in the Livengood gold deposit to be targeted during the
initial phase of mining, the identification of additional deposits
on the Company's Livengood land package, the completion of a
pre-feasibility study at Livengood, the potential for a production
decision to be made, the potential commencement of any development
of a mine at Livengood following a production decision, business
and financing plans and business trends, are forward-looking
statements.
Information concerning mineral resource estimates and the
preliminary economic analysis thereof also may be deemed to be
forward-looking statements in that it reflects a prediction of the
mineralization that would be encountered, and the results of mining
it, if a mineral deposit were developed and mined. 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,
proposed, planned, potential 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 inability of the Company to obtain any necessary
permits, consents or authorizations required for its activities,
the inability of the Company 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 40-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.
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.
NR11-16
Contacts: International Tower Hill Mines Ltd. Shirley Zhou
Vice-President - Corporate Communications 1-888-770-7488 (toll
free) or (604) 638-3247 (604) 408-7499
(FAX)szhou@ithmines.comwww.ithmines.com
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