International Tower Hill Provides An Update On The Livengood Gold Project
Vancouver, B.C……..International Tower Hill Mines Ltd. (“ITH” or the “Company”) - (TSX: ITH, NYSE-MKT: THM, Frankfurt: IW9) is pleased to provide an update on its 100% owned Livengood Gold Project.
The Company has successfully completed within budget its critical path 2012 geotechnical drilling program, totaling 199 holes, 15,731 meters utilizing core, sonic, and auger drilling methods. The drilling program evaluated facility sites to obtain the technical information required for use in sub-arctic engineering design. The pump testing of the large diameter water wells required for hydrogeological modeling was also successfully completed. Metallurgical test work and engineering studies are on-going to advance the feasibility study, which is on schedule for release in the first half of 2013.
The Company’s recently appointed CEO, Don Ewigleben, stated: "Over the past month I have been very encouraged by the progress being made. We will continue working on engineering for the next several months and we are on-track for completing the Feasibility Study in the first half of 2013. I am extremely pleased that the 16 million ounce plus gold deposit is on schedule for feasibility study completion, permitting and construction due to the world-class project team in place.”
The Company is aggressively advancing the Feasibility Study and all scenarios are under consideration to optimize the economics of the project, including considering a future strategic alliance to assist in further development and construction costs while adding value for our shareholders.
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.
On behalf of
International Tower Hill Mines Ltd
Donald C. Ewigleben
President & Chief Executive Officer
Posted: November 7, 2012