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.
The Company completed a Feasibility Study on the Livengood Gold Project in July 2013 where a current NI 43-101 mineral resource has converted a portion of these mineral resources into proven reserves of 434 million tonnes at an average grade of 0.69 g/tonne (9.6 million ounces) and probable reserves of 20 million tonnes at an average grade of 0.70 g/tonne (454,000 ounces). The mine plan provides sufficient ore to support an annual production rate of approximately 577,600 ounces over an estimated 14 year mine life.
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 conservation program and maintaining the necessary environmental baseline activities to move the permitting process forward.