International Tower Hill Reports New High-Grade Gold Intercepts Surrounding Main Deposit at Livengood Gold Project, Alaska
August 21 2012 - 8:00AM
Marketwired
International Tower Hill Mines Ltd. (TSX:ITH)(NYSE MKT:THM)(NYSE
Amex:THM)(FRANKFURT:IW9) ("ITH" or the "Company") announces drill
results for 45 geotechnical and condemnation drill holes in the
Livengood project area (Figure 1). Assay results from four of these
drill holes returned multi-gram gold intersections well outboard of
the main deposit, indicating the Livengood district scale gold
system has significant exploration potential (Table 1). The
locations of these new gold intercepts do not impact the current
conceptual plan for the locations of mining-related infrastructure
contemplated in the ongoing feasibility work but they do highlight
the potential for new discoveries on the Company's large 170 km2
land package.
To view Figure 1, please visit the following link:
http://media3.marketwire.com/docs/ith821i.pdf.
Jeff Pontius, ITH Interim CEO, stated, "These most recent drill
results from a non-exploration directed drill program continue to
show the robust nature of the Livengood gold system and potential
for both new bulk tonnage and high-grade discoveries. It is clear
that the Livengood gold system is a District scale gold discovery
with significant future potential."
Table 1: New Selected Drill Intercepts(i)
(i) Intercepts are calculated using a 0.25g/t gold cutoff and a maximum of 3
metres of internal waste.
Hole ID From (m) To (m) Length (m) Gold (g/t)
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MK-12-281 51.66 54.42 2.76 2.75
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includes 51.66 53.19 1.53 4.09
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MK-12-285 36.70 38.71 2.01 3.47
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47.85 54.46 6.61 0.64
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----------------------------------------------------------------------------
MK-12-288 81.38 84.43 3.05 2.48
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MK-12-290 124.82 128.63 3.81 6.91
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Qualified Person
Chris Puchner (CPG 07048), a Qualified Person as defined by
National Instrument 43-101, has supervised the preparation of the
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 the Chief Geologist of the
Company.
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.
On behalf of International Tower Hill Mines Ltd.
Jeffrey A. Pontius, Interim 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 U.S.
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 size and
characteristics of, or the discovery and delineation of, mineral
deposits, resources or reserves, the potential for the expansion of
the estimated resources at the Livengood property, the
identification of additional deposits on the Company's Livengood
property, the preparation or completion of a feasibility study, the
optimization of mine or gold recovery plans, the permitting of a
mine at the Livengood project, the potential for a production
decision to be made, the potential commencement of any development
of a mine at Livengood following a production decision, the
company's business strategy and the potential for a joint venture
in respect of the Livengood project, and the Company's other
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 at the
Livengood property, 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 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.
NR12-24
Contacts: International Tower Hill Mines Ltd. Michelle Stachnik
Manager Investor Relations 303-881-7646 Ext. 203 or Toll-Free:
1-855-208-4642 Ext. 203mstachnik@ithmines.com www.ithmines.com
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