International Tower Hill Mines Ltd. (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.
The Company on September 8, 2016 announced the results of a Pre-Feasibility Study (the “PFS”) on an optimized configuration for its Livengood Gold Project (the “Project”) located near Fairbanks, Alaska. The engineering optimization studies incorporated in the PFS evaluated several scenarios, ultimately selecting a project that will process 52,600 tons per day and produce 6.8 million ounces of gold over 23 years. This improved configuration has reduced the capital costs (“CAPEX”) by 34% or $950 million to $1.84 billion and the process operating cost (“process OPEX”) by 28% or $2.97 per ton to $7.48 per ton. All-in sustaining costs (AISC) are $976 per ounce and All-in Costs (AIC) are $1,247 per ounce. All as compared to the 100,000 tons per day project evaluated in the September 2013 Feasibility Study. All dollar figures are stated in US Dollars.
Pre-Feasibility Study Overview
The Project configuration evaluated in the PFS remains a conventional, owner-operated surface mine that will utilize large-scale mining equipment in a blast/load/haul operation. Mill feed would be processed in a 52,600 tons per day comminution circuit consisting of primary and secondary crushing, wet grinding in a single semi-autogenous (SAG) mill and single ball mill followed by a gravity gold circuit and a conventional carbon in leach (CIL) circuit.