Multiple Gold Intersections Expand ITHs Livengood Depositadmin
International Tower Hill Mines Ltd. announce the latest drill results from the ongoing 2008 resource expansion program at its bulk tonnage Livengood gold project near Fairbanks, Alaska. The ongoing positive results continue to significantly expand the deposit along strike and at depth with mineralization now indentified at depth to the south into the thick basal sedimentary unit.
Jeff Pontius, President and CEO of ITH, states, “Although it is early days in the development of the Livengood deposit, the broad distribution of significant gold throughout the entire host rock package and its striking geological similarities to the large world-class sediment-hosted deposits of Nevada is highly encouraging. As drilling has extended along strike and to depth the importance of the lower zone of higher grade gold mineralization has increased, suggesting potential for a much larger deposit.”
Drilling continues to significantly expand the Core Zone of the deposit southward. Results include: MK-RC-0039 (starting at 18.3 metres): 25.9 metres @ 3.35 g/t gold and 57.9 metres @ 1.30 g/t gold and MK-RC-043: 114.3 metres @ 1.32 g/t gold. These new assays, along with early geochemical arsenic ‘gold-pathfinder’ results, indicate that the Core Zone is extensive and remains fully open along strike to the south and east and at depth. As the zone extends to the south, significant mineralization continues to be present in all units, including the upper plate rocks and the lower sedimentary package.
The 2008 drilling has now defined mineralization over approximately 1.5 kilometres of strike and 500 to 900 meters of width of the Core Zone – mineralization remains open (to see Figures 1 and 2 please click on: http://media3.marketwire.com/docs/ith930.pdf). A midyear NI 43-101 resource modeling analysis has been initiated to better characterize the size and grade of the open ended higher grade Core Zone. The updated NI 43-101 resource results are expected to be released in early November 2008.
In addition, the Company has yet to follow up on a number of significant drill holes completed in the eastern half of the deposit, which covers a priority target area of approximately 2 square kilometres – MK-08-27: 15.63 metres @ 1.06 g/t gold; MK-08-30: 9.14 metres @ 3.53 g/t gold, 13.42 metres @ 2.31 g/t gold and 42.18 metres @ 1.21 g/t gold.
The new gold assays, along with early geochemical arsenic ‘gold-pathfinder’ results, indicate the Core Zone is extensive and remains fully open along strike to the south and east and at depth. As the zone extends to the south, significant mineralization continues to be present in all units, including the upper plate rocks and the lower sedimentary package. It now appears that the distribution of mineralization may be controlled by the presence of southerly dipping faults and dikes that cross the stratigraphy developing mineralization in all of the units, including the lower sedimentary package, thereby significantly expanding the deposit’s potential. The lower sedimentary package is increasingly well mineralized. In addition, the favourable host rocks continue to shallow to the southwest and are projected to begin surfacing a few hundred meters to the south of the existing drill pattern.
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 advanced gold and base metal discoveries. The Company’s 100% owned Livengood deposit is an advanced bulk tonnage resource expansion project that is the current focus of its Alaskan program. ITH is committed to building shareholder value through new discoveries while maintaining a majority interest in its holdings, thereby giving its shareholders the maximum value for their investment.