International Tower Hill Mines (TSX: ITH; NYSE MKT: THM) is an advanced exploration stage company focused on the development of its 100% interest in the Livengood Gold Project located 70 miles northwest of Fairbanks, Alaska. NI 43-101 compliant gold mineral resource of 15.7 M oz (807 MT at 0.61 g/t) measured & indicated and 4.4 M oz (266 MT at 0.52 g/t) inferred, all at 0.30 g/t cutoff.
The mine plan provides sufficient ore to support an annual production rate of approximately 577,600 ounces over an estimated 14 year mine life and average of 698, 500 ounces in the first five years of production.
The Livengood Gold Project is located in an active mining district that has been mined for gold since 1914. It is also located in one of the world’s most desirable mining jurisdictions, Interior Alaska, which has strong ties to the mining community and the state has designated mining as the primary surface for the area.
Led by a staff with major mining company expertise with proven track records of project permitting and development, the Company is advancing the Livengood Gold Project through a cash management program and maintaining the necessary environmental baseline activities to move the permitting process forward.