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Message: Announces Latest Winter Program Drill Results from Livengood Gold Deposit
| May 12, 2009 | |
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International Tower Hill Announces Latest Winter Program Drill Results From NE and SW Zones, Livengood Gold Deposit, Alaska
MK-RC-0137 - 27.4 metres of 1.50 g/t gold |
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 12, 2009) - International Tower Hill Mines Ltd. ("ITH" or the "Company") (TSX VENTURE:ITH)(NYSE Amex:THM)(FRANKFURT:IW9) is pleased to announce results from the last nine holes of the 2009 Livengood winter drilling campaign. These holes are from the northern extension of the NE Zone and infill holes in the SW Zone. A total of 34 holes were completed in the winter program, which not only demonstrated the continuation of the large bulk tonnage gold system (which still remains open in all directions), but also provided valuable infill drill data for the Preliminary Economic Assessment to be completed July 2009. Three of these new holes - MK-RC-0137, which returned 27.4 metres @ 1.50 g/t gold, MK-RC-0139, which returned 35.1 metres @ 1.16 g/t gold and MK-RC-0141, which returned 9.2 metres @ 2.19 g/t gold - from the northern step-out on the NE Zone provide strong evidence that the Livengood gold system has significant expansion potential. In addition, the SW and Central Zone infill holes (including MK-RC-0133 with 65.53 metres @ 0.88 g/t gold, MK-RC-0138 with 110 metres @ 0.9 g/t gold and MK-RC-140 with 19.82 metres @ 1.11 g/t gold and 71.63 metres @ 0.60 g/t gold) confirmed the continuity of the thick mineralized system. In the SW Zone, hole MK-RC-0142 continued to demonstrate the higher grade nature of this area, particularly at depth, with 9.1 metres @ 4.0 g/t gold. All results from the 2009 winter drill program will be included in the updated June 2009 resource estimate. The new mineralized intercepts in the northern extension of the NE Zone correlate with scattered intersections to the east from 2008 reconnaissance drilling. This new zone of mineralization opens up a large new area for exploration and deposit expansion potential and will be one of the priority targets in the upcoming summer 2009 drill program. As part of the Company's Preliminary Economic Assessment program it has added a metallurgical consultant to its team to aid in the design of an expanded metallurgical program and to provide input for the economic study. The Company's second phase 2009 summer drill program will begin on June 1st and will include 35,000 metres of reverse circulation and core drilling, using four drill rigs. Table 1: New Significant Intercepts from Livengood(i)
From To Length Gold Area of
Drill Hole # (metres) (metres) (metres) (g/t) Deposit
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MK-RC-0133 231.65 246.89 15.24 0.85 SW Zone
259.08 324.61 65.53 0.88
MK-RC-0135 54.86 68.58 13.72 0.75 NE Zone
274.32 301.75 27.43 0.97
MK-RC-0136 138.68 178.31 39.63 0.90 Central
MK-RC-0137 89.92 117.35 27.43 1.50 NE Zone
208.79 220.98 12.19 0.63
228.60 233.17 4.57 2.27
MK-RC-0138 160.02 269.75 109.73 0.91 Central
including 160.02 210.31 50.29 1.18
MK-RC-0139 252.98 288.04 35.06 1.16 NE Zone
MK-RC-0140 167.64 176.78 9.14 1.01 SW Zone
184.40 199.64 15.24 0.62
207.26 227.08 19.82 1.11
233.17 304.80 71.63 0.60
MK-RC-0141 146.30 155.45 9.15 2.19 NE Zone
187.45 198.12 10.67 0.58
MK-RC-0142 74.68 82.3 7.62 0.75 SW Zone
249.94 262.13 12.19 0.85
266.70 275.84 9.14 4.02
(i) Intercepts based on 0.25 g/t gold cutoff and maximum 3 metres of
internal waste.
The Livengood project has a very favourable logistical location, being situated 110 road kilometres north of Fairbanks, Alaska along the paved all-weather Elliott Highway, alongside both the Trans Alaska Pipeline and the proposed Alaska natural gas pipeline route, and approximately 55 kilometres north of the Interior Alaska power grid. ITH controls 100% of its 44 square kilometre Livengood land package, which is comprised primarily of fee land leased from the Alaska Mental Health Trust together with a number of smaller private mineral leases. The thick, shallowly dipping, outcropping gold deposit at Livengood has a favourable geometry for a low strip, bulk tonnage mining operation. Initial metallurgical data indicates the deposit is potentially amenable to some type of combined milling and heap leach system of gold recovery. The Company and its predecessor, AngloGold Ashanti (U.S.A.) Exploration Inc., have been exploring the Livengood area since 2003. Resource definition drilling began in 2008, resulting in the delineation of a multi-million ounce gold resource. The winter 2009 drilling program confirms that there is considerable room for expansion of the deposit to the southwest, east and northeast areas that will be tested this summer as part of what the Company envisions as a major exploration program to define one of the world's larger new gold deposits. Long term baseline environmental studies, including surface waters and aquatic fauna, are currently underway in anticipation of future permitting requirements. A 3D image of the most recently released Livengood drill information can be viewed at: http://www.corebox.net/properties/li... To view Figure 1 accompanying this press release please click on: http://media3.marketwire.com/docs/it... 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 |
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