International Tower Hill Mines Ltd. ("ITH" or the "Company")
(TSX:ITH)(NYSE Amex:THM)(FRANKFURT:IW9) has received the results
for 73 in-fill drill holes completed late in 2011 which confirm the
integrity of the May 2011 resource estimate reported in August 2011
at the Livengood Gold Project near Fairbanks, Alaska. Based on the
latest results (see Table 3), new internal resource estimates
calculated for three areas of the deposit have been verified within
1% to contain the same tonnage, grade and contained ounces of gold
as those calculated from the nominal 50-metre-spaced grid drilling
used to calculate the May 2011 resource. This positive outcome
marks the conclusion of confirmation drilling at the Livengood gold
deposit as the Company focuses on district-wide exploration within
its 145 km2 land package as well as condemnation/geotechnical
drilling in support of permitting activities in 2012.
"Our 2011 close-spaced drill programs have firmly verified the
data used to calculate our latest resource estimate and
substantiated Livengood as one of the largest gold resources in
North America," stated James Komadina, President and Chief
Executive Officer of ITH. "The significant size of the project now
warrants a shift in the Company's focus from resource growth to
development activities that will advance the Livengood project
towards a production decision and potentially becoming a new,
large-scale gold mine in North America."
Resource Verification Drilling
The resource estimate as at May 31, 2011 contained in the August
25, 2011 NI 43-101 technical report entitled "August 2011 Summary
Report on the Livengood Project, Tolovana District, Alaska"
(available on SEDAR) ("August 2011 Report") was based on 50-metre
and, in fringe areas of the deposit, 75-metre grid drilling. Two
areas of the deposit, the Core and Sunshine crosses, were selected
for 15-metre-spaced reverse circulation (RC) in-fill drilling on
crosses with north-south and east-west legs 150 metres in length
(Fig. 1). A third area, Area 50, measuring 195 metres by 240
metres, was drilled on a 37.5-metre grid with alternating core and
RC drilling. Two resources were generated for each volume using
ordinary kriging on samples composited to 10-metre lengths: the
first including those portions of the 50-metre grid drilling (May
2011 resource) within the volume; and a second using both the grid
and close-spaced drilling within the same volume. On average, the
effect of the increased drilling density on tonnage, grade, and
contained ounces of gold is negligible (less than 1%; see Table
1).
Table 1: Calculated resources for the Core Cross, Sunshine Cross, and Area
50
(ordinary kriging, 0.25 g/t cutoff)
----------------------------------------------------------------------------
Tonnage Gold Grade Gold
Area, Drill Hole Tonnes Ratio Grade Ratio Gold Ratio
Spacing (millions) (all/grid) (g/t) (all/grid) (ounces) (all/grid)
----------------------------------------------------------------------------
Core Cross, 50m
grid & 15m
infill 15.67 0.481 242,401
----------------------------------------------------------------------------
Core Cross, 50m
grid drilling
only 15.37 1.020 0.477 1.008 235,715 1.028
----------------------------------------------------------------------------
Sunshine Cross,
50m grid & 15m 9.82 0.553 174,647
----------------------------------------------------------------------------
Sunshine Cross,
50m grid
drilling 9.81 1.001 0.566 0.977 178,556 0.978
----------------------------------------------------------------------------
Area 50, all
drilling
(37.5m) 16.04 0.562 289,685
----------------------------------------------------------------------------
Area 50, 50m
grid drilling 16.13 0.994 0.550 1.022 285,136 1.016
----------------------------------------------------------------------------
All areas
(averages) 1.005 1.002 1.007
----------------------------------------------------------------------------
To view figures 1 and 2, please visit the following link:
http://media3.marketwire.com/docs/ith306i.pdf.
Comparison of Core and RC Drilling
Direct statistical comparison of data sets with vastly different
numbers of samples can be accomplished by repeatedly re-sampling
the data sets using varying numbers of samples to establish
estimates of the mean and standard deviation for the data sets. An
evaluation of core vs. RC drilling using this methodology was
presented in the August 2011 Report. For the deposit as a whole,
core drilling (essentially entirely HQ core sawn in half for
sampling at that time) returned a modeled mean gold grade that is
96% of that calculated for RC drilling (Figure 2a).
The largest discrepancy documented in the August 2011 Report
occurred in the Sunshine Zone above the water table (approx. 150
metres below surface), where core returned a modeled mean gold
grade of around 80% of that calculated for RC drilling. The
37.5-metre-spaced drilling in Area 50 of the Sunshine Zone, with a
mix of HQ core (7 drill holes; sawn in half for sampling), PQ core
(23 holes; sampled whole), and RC drilling (28 holes) provides an
opportunity to re-examine the difference between core and RC
sampling utilizing the same methodology. All Area 50 samples were
composited to 5-metre lengths and modeled as described above. For
Area 50, the modeled mean PQ grade is 92% of that calculated for RC
drilling and the modeled HQ grade is 71% of the RC grade and 77% of
the PQ grade, indicating that sawn HQ core recovers significantly
less gold than either whole PQ core or RC sampling; PQ sampling is
closer to RC sampling, but still lower. Ordinary kriging of the
resource within the Area 50 volume (described above) by sample type
bears this relative relationship out (PQ core gold grade is 94% of
RC and HQ core gold grade 86% of RC, Table 2).
Table 2: Calculated resources for Area 50 by drill sample type (ordinary
kriging of 10m composites, 0.25 g/t cutoff)
----------------------------------------------------------------------------
Gold
Tonnes Tonnage Grade Grade Gold Gold
Drill Sample Type (millions) Ratio (g/t) Ratio (ounces) Ratio
----------------------------------------------------------------------------
RC drilling 16.73 0.575 309,114
----------------------------------------------------------------------------
PQ drilling, PQ/RC
ratios 15.95 0.953 0.566 0.984 289,981 0.938
----------------------------------------------------------------------------
HQ drilling, HQ/RC
ratios 15.14 0.905 0.510 0.887 248,061 0.802
----------------------------------------------------------------------------
HQ/PQ ratios 0.949 0.901 0.855
----------------------------------------------------------------------------
Mineralization in the Sunshine Zone (Area 50) is characterized
by quartz-carbonate-sulfide veinlets that have a significantly
higher proportion of associated coarse gold relative to the
remainder of the deposit. Where the mineralized material is
oxidized, the carbonate and sulfide is leached out, rendering the
veinlets friable with the core often breaking along them. The most
probable explanation for the discrepancies in grade is progressive
loss of gold with increased handling of the sample material, e.g.
the HQ core was boxed, then taken from the boxes and sawn in half
lengthwise then bagged (most handling), the PQ core was boxed, then
transferred whole directly into sample bags (less handling), and
the RC samples were bagged directly on the rig (no handling). This
effect would be most pronounced in oxidized zones of the deposit
but could also occur in unoxidized rocks if they are badly broken.
Because the gold at Livengood is relatively coarse, another
contributing factor may be the relative sample volume (e.g. RC with
a 12.7 cm diameter, whole PQ3 core with an 8.3 cm diameter, and HQ3
core with a 6.1 cm diameter that has been halved). HQ core
comprises 13% of the composites used to calculate the August 2011
resource. Based on the results above, it can be concluded that the
August 2011 resource is not significantly overstated and may be
slightly understated.
Table 3: Significant new intercepts(i)
(i) Intercepts are calculated using a 0.25g/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-0553 163.07 227.08 64.01 0.77 Core Cross
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-RC-0554 54.86 60.96 6.10 0.96 Core Cross
----------------------------------------------------------------------------
65.53 82.30 16.77 0.74
----------------------------------------------------------------------------
115.82 156.97 41.15 0.80
----------------------------------------------------------------------------
167.64 214.88 47.24 0.70
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-RC-0558 6.10 16.76 10.66 0.68 Core Cross
----------------------------------------------------------------------------
22.86 51.82 28.96 3.66
----------------------------------------------------------------------------
includes 32.00 36.58 4.58 2.94
----------------------------------------------------------------------------
includes 38.10 45.72 7.62 4.22
----------------------------------------------------------------------------
includes 47.24 50.29 3.05 12.28
----------------------------------------------------------------------------
60.96 121.92 60.96 0.86
----------------------------------------------------------------------------
includes 62.48 71.63 9.15 1.56
----------------------------------------------------------------------------
includes 103.63 109.73 6.10 1.72
----------------------------------------------------------------------------
134.11 175.26 41.15 1.11
----------------------------------------------------------------------------
181.36 208.79 27.43 0.60
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-RC-0570 0.00 12.19 12.19 0.72 Area 50
----------------------------------------------------------------------------
15.24 24.38 9.14 0.67
----------------------------------------------------------------------------
50.29 59.44 9.15 1.28
----------------------------------------------------------------------------
68.58 106.68 38.10 0.84
----------------------------------------------------------------------------
108.20 138.68 30.48 0.47
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-RC-0573 32.00 39.62 7.62 0.73 Core Cross
----------------------------------------------------------------------------
48.77 79.25 30.48 0.93
----------------------------------------------------------------------------
86.87 97.54 10.67 0.84
----------------------------------------------------------------------------
120.40 134.11 13.71 0.48
----------------------------------------------------------------------------
164.59 190.50 25.91 0.64
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-RC-574 39.62 50.29 10.67 0.47 Area 50
----------------------------------------------------------------------------
86.87 92.96 6.09 1.71
----------------------------------------------------------------------------
97.54 164.59 67.05 2.05
----------------------------------------------------------------------------
includes 105.16 109.73 4.57 17.88
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-114 0.00 25.95 25.95 0.90 Pit wall stability geotech
----------------------------------------------------------------------------
34.53 36.88 2.35 8.11
----------------------------------------------------------------------------
includes 34.53 35.81 1.28 13.60
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-121 55.98 63.39 7.41 1.15 Pit wall stability geotech
----------------------------------------------------------------------------
74.07 82.91 8.84 0.64
----------------------------------------------------------------------------
191.11 211.43 20.32 0.66
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-124 no significant intercepts Pit wall stability geotech,
pending
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-133 no significant intercepts Infrastructure geotech
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-134 no significant intercepts Infrastructure geotech
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Mk-11-136 no significant intercepts Infrastructure geotech
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-137 no significant intercepts Infrastructure geotech
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-138 72.82 82.80 9.98 3.65 Core Zone infill
----------------------------------------------------------------------------
includes 73.70 79.90 6.20 5.45
----------------------------------------------------------------------------
144.48 169.94 25.46 0.73
----------------------------------------------------------------------------
175.79 179.90 4.11 1.31
----------------------------------------------------------------------------
196.42 200.71 4.29 2.34
----------------------------------------------------------------------------
206.58 230.08 23.50 0.72
----------------------------------------------------------------------------
249.00 263.35 14.35 0.77
----------------------------------------------------------------------------
275.34 282.90 7.56 2.45
----------------------------------------------------------------------------
385.84 389.54 3.70 1.36
----------------------------------------------------------------------------
415.75 417.43 1.68 4.62
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-140 39.93 113.08 73.15 0.95 Area 50
----------------------------------------------------------------------------
122.23 142.04 19.81 0.91
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-141 no significant intercepts Infrastructure geotech
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-142 0.00 20.12 20.12 0.65 Area 50
----------------------------------------------------------------------------
45.05 65.25 20.20 0.69
----------------------------------------------------------------------------
70.41 152.71 82.30 0.97
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-143 no significant intercepts Infrastructure geotech
----------------------------------------------------------------------------
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-144 19.50 34.71 15.21 0.90 Area 50
----------------------------------------------------------------------------
49.54 84.52 34.98 0.79
----------------------------------------------------------------------------
143.56 152.70 9.14 0.66
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-145 no significant intercepts Infrastructure geotech
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-146 0.00 14.98 14.98 0.64 Area 50
----------------------------------------------------------------------------
25.05 152.71 127.66 0.94
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-148 34.37 64.31 29.94 0.82 Area 50
----------------------------------------------------------------------------
94.79 119.10 24.31 0.44
----------------------------------------------------------------------------
124.49 164.90 40.41 1.38
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-149 no significant intercepts Infrastructure geotech
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-150 0.00 28.66 28.66 0.51 Area 50
----------------------------------------------------------------------------
32.30 145.00 112.70 0.86
----------------------------------------------------------------------------
150.00 164.90 14.90 0.96
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-151 9.95 80.00 70.05 0.98 Area 50
----------------------------------------------------------------------------
85.00 105.00 20.00 0.45
----------------------------------------------------------------------------
110.03 140.00 29.97 1.90
----------------------------------------------------------------------------
155.00 164.90 9.90 0.47
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-152 no significant intercepts Infrastructure geotech
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-153 32.16 54.25 22.09 1.12 Sunshine infill
----------------------------------------------------------------------------
60.81 72.85 12.04 0.84
----------------------------------------------------------------------------
77.11 124.05 46.94 0.86
----------------------------------------------------------------------------
128.93 168.55 39.62 1.22
----------------------------------------------------------------------------
176.90 190.81 13.91 0.60
----------------------------------------------------------------------------
202.08 220.22 18.14 0.81
----------------------------------------------------------------------------
263.50 275.20 11.70 0.79
----------------------------------------------------------------------------
325.24 344.27 19.03 1.07
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-154 0.00 10.00 10.00 0.47 Area 50
----------------------------------------------------------------------------
25.00 35.36 10.36 0.56
----------------------------------------------------------------------------
45.00 74.88 29.88 0.95
----------------------------------------------------------------------------
90.00 105.00 15.00 0.33
----------------------------------------------------------------------------
110.03 120.00 9.97 0.93
----------------------------------------------------------------------------
125.00 145.08 20.08 1.07
----------------------------------------------------------------------------
150.00 164.90 14.90 0.56
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-156 no significant intercepts Infrastructure geotech
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-157 15.03 25.00 9.97 0.84 Area 50
----------------------------------------------------------------------------
50.60 85.15 34.55 1.45
----------------------------------------------------------------------------
90.22 110.00 19.78 0.37
----------------------------------------------------------------------------
120.00 144.80 24.80 0.60
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-158 129.85 149.66 19.81 0.76 Tower Zone Infill
----------------------------------------------------------------------------
187.76 205.47 17.71 2.20
----------------------------------------------------------------------------
209.09 216.71 7.62 6.60
----------------------------------------------------------------------------
includes 210.35 212.14 1.79 27.20
----------------------------------------------------------------------------
292.91 312.73 19.82 0.43
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-159 no significant intercepts Infrastructure geotech
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-160 41.57 51.42 9.85 0.65 Infrastructure geotech
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-161 24.80 27.30 2.50 16.81 Core Zone, site of RC-0424
----------------------------------------------------------------------------
78.33 87.48 9.15 0.66
----------------------------------------------------------------------------
117.96 153.47 35.51 0.81
----------------------------------------------------------------------------
162.70 176.27 13.57 0.70
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-162 43.70 53.40 9.70 0.90 Area 50
----------------------------------------------------------------------------
58.40 73.00 14.60 1.04
----------------------------------------------------------------------------
78.00 83.07 5.07 1.56
----------------------------------------------------------------------------
108.00 132.00 24.00 0.58
----------------------------------------------------------------------------
136.05 161.00 24.95 0.65
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-163 28.70 37.60 8.90 0.57 Area 50
----------------------------------------------------------------------------
56.50 71.50 15.00 0.45
----------------------------------------------------------------------------
79.74 103.15 23.41 0.75
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-165 no significant intercepts NE Exploration
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-166 1.37 22.86 21.49 0.97 Core Zone infill
----------------------------------------------------------------------------
27.13 30.18 3.05 2.64
----------------------------------------------------------------------------
31.8 41.64 9.84 0.95
----------------------------------------------------------------------------
45.14 53.58 8.44 0.70
----------------------------------------------------------------------------
61.77 65.71 3.94 2.55
----------------------------------------------------------------------------
62.48 63.82 1.34 6.29
----------------------------------------------------------------------------
84.67 92.05 7.38 1.09
----------------------------------------------------------------------------
99.52 108.47 8.95 0.86
----------------------------------------------------------------------------
112.28 116.43 4.15 1.39
----------------------------------------------------------------------------
119.6 121.33 1.73 2.90
----------------------------------------------------------------------------
138.04 175.85 37.81 0.62
----------------------------------------------------------------------------
335.64 346.06 10.42 0.59
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-167 no significant intercepts Infrastructure geotech
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-170 264.97 268.53 3.56 2.00 NE Exploration
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-171 0.00 9.45 9.45 0.84 Area 50
----------------------------------------------------------------------------
45.52 86.02 40.50 0.52
----------------------------------------------------------------------------
123.44 150.44 27.00 0.39
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-172 66.60 71.60 5.00 1.08 Area 50
----------------------------------------------------------------------------
91.58 96.54 4.96 1.92
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-173 15.00 50.00 35.00 0.56 Area 50
----------------------------------------------------------------------------
54.95 70.14 15.19 0.72
----------------------------------------------------------------------------
75.00 90.00 15.00 0.77
----------------------------------------------------------------------------
145.21 153.01 7.80 0.67
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-176 10.00 85.09 75.09 0.81 Area 50
----------------------------------------------------------------------------
105.00 110.09 5.09 2.33
----------------------------------------------------------------------------
140.00 155.19 15.19 0.50
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-177 91.47 96.62 5.15 1.41 Core Zone infill
----------------------------------------------------------------------------
105.64 108.81 3.17 21.88
----------------------------------------------------------------------------
includes 107.14 108.81 1.67 41.32
----------------------------------------------------------------------------
156.70 159.33 2.63 1.93
----------------------------------------------------------------------------
184.83 202.85 18.02 0.46
----------------------------------------------------------------------------
220.07 226.60 6.53 1.96
----------------------------------------------------------------------------
233.78 242.10 8.32 0.93
----------------------------------------------------------------------------
265.30 337.41 72.11 0.62
----------------------------------------------------------------------------
352.45 361.10 8.65 0.74
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-183 77.86 83.03 5.17 1.23 Tower Zone, site of RC-0169
----------------------------------------------------------------------------
227.69 239.00 11.31 0.55
----------------------------------------------------------------------------
244.45 255.12 10.67 0.54
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-184 pending
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-187 no significant intercepts NE Exploration
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-188 78.82 106.20 27.38 1.05 Money Knob, site of RC-0407
----------------------------------------------------------------------------
includes 96.32 100.05 3.73 3.72
----------------------------------------------------------------------------
114.45 143.56 29.11 0.85
----------------------------------------------------------------------------
161.85 229.82 67.97 0.63
----------------------------------------------------------------------------
339.94 361.30 21.36 0.47
----------------------------------------------------------------------------
372.93 391.97 19.04 0.41
----------------------------------------------------------------------------
394.20 448.18 53.98 0.45
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-189 no significant intercepts Infrastructure geotech
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-191 no significant intercepts Infrastructure geotech
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-193 no significant intercepts NE Exploration, lost hole
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-194 0.00 26.82 26.82 0.48 Sunshine Zone, site of RC-0303
----------------------------------------------------------------------------
32.21 54.70 22.49 0.63
----------------------------------------------------------------------------
67.30 71.97 4.67 1.21
----------------------------------------------------------------------------
76.32 89.76 13.44 0.64
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-195 no significant intercepts NE Exploration, lost hole
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-196 no significant intercepts Infrastructure geotech
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-197 no significant intercepts Infrastructure geotech
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-199 no significant intercepts Infrastructure geotech
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-200 75.13 80.00 4.87 2.57 Area 50
----------------------------------------------------------------------------
120.00 164.90 44.90 0.78
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-201 37.40 38.41 1.01 49.30 Core Zone, site of RC-0039
----------------------------------------------------------------------------
46.03 53.62 7.59 1.07
----------------------------------------------------------------------------
80.00 84.26 4.26 1.66
----------------------------------------------------------------------------
93.91 94.79 0.88 7.62
----------------------------------------------------------------------------
132.89 146.80 13.91 0.72
----------------------------------------------------------------------------
152.71 265.48 112.77 0.79
----------------------------------------------------------------------------
includes 169.47 174.04 4.57 5.29
----------------------------------------------------------------------------
319.27 332.54 13.27 0.62
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-203 Hydrology, pending
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-204 55.00 60.00 5.00 1.07 Area 50
----------------------------------------------------------------------------
85.00 90.00 5.00 1.21
----------------------------------------------------------------------------
135.00 155.00 20.00 0.31
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-207 5.00 15.00 10.00 1.25 Area 50
----------------------------------------------------------------------------
22.15 31.00 8.85 0.56
----------------------------------------------------------------------------
106.20 136.40 30.20 0.68
----------------------------------------------------------------------------
141.40 166.73 25.33 0.57
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-209 20.00 40.00 20.00 0.57 Area 50
----------------------------------------------------------------------------
85.00 95.10 10.10 0.97
----------------------------------------------------------------------------
105.00 130.00 25.00 0.89
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-210 0.00 9.14 9.14 1.83 Core Zone, site of RC-0414
----------------------------------------------------------------------------
32.53 43.27 10.74 0.66
----------------------------------------------------------------------------
82.30 182.88 100.58 2.42
----------------------------------------------------------------------------
includes 97.59 114.30 16.71 2.46
----------------------------------------------------------------------------
includes 160.02 175.36 15.34 8.66
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-211 276.15 288.34 12.19 0.63 SW Exploration
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-212 15.47 25.50 10.03 1.80 Area 50
----------------------------------------------------------------------------
34.00 140.00 106.00 0.95
----------------------------------------------------------------------------
143.50 157.28 13.78 0.47
----------------------------------------------------------------------------
160.33 164.90 4.57 3.30
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-213 25.00 35.00 10.00 0.77 Area 50
----------------------------------------------------------------------------
55.00 65.00 10.00 2.55
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-214 55.02 63.50 8.48 2.46 Area 50
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-215 no significant intercepts Hydrology
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-216 131.06 147.83 16.77 0.64 Core Zone, site of RC-0372
----------------------------------------------------------------------------
148.78 265.35 116.57 1.11
----------------------------------------------------------------------------
includes 255.11 259.61 4.50 3.00
----------------------------------------------------------------------------
295.13 316.10 20.97 0.34
----------------------------------------------------------------------------
379.48 387.40 7.92 0.78
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-217 154.84 173.13 18.29 0.43 Money Knob infill
----------------------------------------------------------------------------
176.17 194.31 18.14 0.79
----------------------------------------------------------------------------
202.88 213.29 10.41 0.93
----------------------------------------------------------------------------
217.32 247.67 30.35 0.69
----------------------------------------------------------------------------
289.68 298.09 8.41 0.85
----------------------------------------------------------------------------
311.81 328.57 16.76 1.59
----------------------------------------------------------------------------
includes 313.25 314.25 1.00 19.00
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-218 75.70 83.60 7.90 0.73 Money Knob, site of RC-0259
----------------------------------------------------------------------------
135.64 146.13 10.49 0.67
----------------------------------------------------------------------------
158.50 174.62 16.12 0.87
----------------------------------------------------------------------------
227.98 230.98 3.00 1.76
----------------------------------------------------------------------------
237.23 248.38 11.15 0.58
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-220 164.07 253.90 89.83 1.67 Core Zone infill
----------------------------------------------------------------------------
includes 167.08 174.00 6.92 8.88
----------------------------------------------------------------------------
includes 196.72 202.80 6.08 2.25
----------------------------------------------------------------------------
307.33 321.70 14.37 0.47
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-221 105.30 115.37 10.07 0.53 Core Zone infill
----------------------------------------------------------------------------
157.89 174.65 16.76 0.73
----------------------------------------------------------------------------
202.08 210.01 7.93 0.68
----------------------------------------------------------------------------
214.12 228.75 14.63 1.02
----------------------------------------------------------------------------
263.04 277.52 14.48 0.41
----------------------------------------------------------------------------
278.89 288.95 10.06 0.65
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-11-224 0.00 17.26 17.26 0.95 Area 50
----------------------------------------------------------------------------
21.56 37.04 15.48 0.66
----------------------------------------------------------------------------
48.50 55.78 7.28 0.83
----------------------------------------------------------------------------
59.69 67.06 7.37 0.90
----------------------------------------------------------------------------
71.35 111.74 40.39 0.78
----------------------------------------------------------------------------
114.56 124.90 10.34 1.15
----------------------------------------------------------------------------
130.02 152.40 22.38 0.76
----------------------------------------------------------------------------
Qualified Persons and Quality Control/Quality Assurance
Tim Carew, P.Geo., of Reserva International, LLC., a mining
geo-scientist, is a Professional Geoscientist in the province of
British Columbia (No. 18453) and, as such, is acting as the
Qualified Person, as defined in NI 43-101, for the check resource
modeling for the certain portions of the Livengood deposit as
described in this news release. Mr. Carew has supervised the
preparation of the scientific and technical information in this
news release and has approved such disclosure herein. Mr. Carew has
a B.Sc. degree in Geology, an M.Sc in Mineral Production Management
and more than 34 years of relevant geological and mining experience
in operating, corporate and consulting environments. Both Mr. Carew
and Reserva International, LLC are independent of the Company under
NI 43-101.
The resource verification drilling 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. In 2012 ITH is focused on the
rapid advancement of the Livengood project into a compelling
potential development scenario 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 J. Komadina, 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 and cost
of exploration programs, anticipated exploration program results,
the discovery and delineation of mineral
deposits/resources/reserves, the potential for the expansion of the
estimated resources at Livengood, the projected dates for the
commencement of feasibility study work and for the completion of a
pre-feasibility and feasibility study for the Livengood Project,
the potential for a production decision to be made in respect of
the Livengood Project, the potential for the development and
construction of a mine and any production at the Livengood project,
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
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 40F 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
current technical report filed with respect to the Company's
Livengood Project.
Cautionary Note Regarding References to Resources and
Reserves
National Instrument 43 101 - Standards of Disclosure for Mineral
Projects ("NI 43-101") is a rule developed by the Canadian
Securities Administrators which establishes standards for all
public disclosure an issuer makes of scientific and technical
information concerning mineral projects. Unless otherwise
indicated, all resource estimates contained in or incorporated by
reference in this press release have been prepared in accordance
with NI 43-101 and the guidelines set out in the Canadian Institute
of Mining, Metallurgy and Petroleum (the "CIM") Standards on
Mineral Resource and Mineral Reserves, adopted by the CIM Council
on November 14, 2004 (the "CIM Standards") as they may be amended
from time to time by the CIM.
United States shareholders are cautioned that the requirements
and terminology of NI 43-101 and the CIM Standards differ
significantly from the requirements and terminology of the SEC set
forth in the SEC's Industry Guide 7 ("SEC Industry Guide 7").
Accordingly, the Company's disclosures regarding mineralization may
not be comparable to similar information disclosed by companies
subject to SEC Industry Guide 7. Without limiting the foregoing,
while the terms "mineral resources", "inferred mineral resources",
"indicated mineral resources" and "measured mineral resources" are
recognized and required by NI 43-101 and the CIM Standards, they
are not recognized by the SEC and are not permitted to be used in
documents filed with the SEC by companies subject to SEC Industry
Guide 7. Mineral resources which are not mineral reserves do not
have demonstrated economic viability, and US investors are
cautioned not to assume that all or any part of a mineral resource
will ever be converted into reserves. Further, inferred resources
have a great amount of uncertainty as to their existence and as to
whether they can be mined legally or economically. It cannot be
assumed that all or any part of the inferred resources will ever be
upgraded to a higher resource category. Under Canadian rules,
estimates of inferred mineral resources may not form the basis of a
feasibility study or prefeasibility study, except in rare cases.
The SEC normally only permits issuers to report mineralization that
does not constitute SEC Industry Guide 7 compliant "reserves" as
in-place tonnage and grade without reference to unit amounts. The
term "contained ounces" is not permitted under the rules of SEC
Industry Guide 7. In addition, the NI 43-101 and CIM Standards
definition of a "reserve" differs from the definition in SEC
Industry Guide 7. In SEC Industry Guide 7, a mineral reserve is
defined as a part of a mineral deposit which could be economically
and legally extracted or produced at the time the mineral reserve
determination is made, and a "final" or "bankable" feasibility
study is required to report reserves, the three-year historical
price is used in any reserve or cash flow analysis of designated
reserves and the primary environmental analysis or report must be
filed with the appropriate governmental authority.
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.
NR 12-07
Contacts: International Tower Hill Mines Ltd. Shirley Zhou
Vice-President - Corporate Communications 604-343-4799 or
Toll-Free: 1-855-208-4642 Ext. 13szhou@ithmines.com
www.ithmines.com
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