International Tower Hill Encounters Additional Higher Grade Gold Mineralization and Advances Target Definition Work at the Livengood Project, Alaska
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/07/11 -- 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
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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.com
www.ithmines.com