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ITH Intersects Additional Bulk-Tonnage-Grade Gold Intercepts at Livengood Deposit, Alaska MK-RC-023 returns multiple gold horizons including 58 metres at 2.51 g/t gold VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Jul 23, 2008 -- International Tower Hill Mines Ltd. ("ITH" or the "Company")
- (CDNX:ITH.V - News)(THM - News)(Frankfurt:IW9.F - News) is pleased to
announce the latest drill results from the ongoing 2008
resource expansion program at its Livengood gold project
in Alaska. The Company has received results from two trenches
and an additional 14 holes of the 48 holes drilled to date
- part of this year's 150-hole, 45,000-metre program (Figure
1). Notable intersections were returned from hole MK-RC-011,
with 140 metres of 1.0 g/t gold (including 4.6 metres of
5.9 g/t gold), and hole MK-RC-023, which intersected multiple
horizons of gold mineralization -including 67 metres of
0.95 g/t gold and 57.9 metres of 2.5 g/t gold. Both holes
are from the south eastern extension of the Lillian core
zone (Table 1) and highlight the significant resource expansion
potential of the project.
These latest results continue to expand the northwest-trending higher-grade core zone of the Livengood deposit, which remains open in all directions. The higher grade core zone, as currently defined, has an average width of approximately 300 metres and has been intersected for some 500 metres of strike length with holes in higher grade mineralization at either end. The Company is currently focusing on expanding the zone with step out drilling to the northwest and southeast, as well as evaluating the potential for additional higher-grade zones to the east. Step out drilling to the west and east of the high grade core, along the overall east-west mineralized belt, continues to return very encouraging results, such as MK-RC-0006 (collared on the east) which returned 178 metres of 0.71 g/t gold, and hole MK-RC-013 (collared on the west) which returned 88 metres at 1.07 g/t gold (Figure 1 and Table 2). The two reverse circulation drills and one diamond drill are currently operating at the Livengood project. The Company intends to make regular monthly updates of the drilling results and plans to prepare an updated NI 43-101 resource estimate midway through the 2008 program (anticipated to be released in mid-October).
Table 1
New Drill Result Highlights, Livengood Project, Alaska
From To Length Gold
Hole ID (metres) (metres) (metres) (g/t)
------------------------------------------------------
------------------------------------------------------
MK-RC-0006 15.24 35.03 19.81 0.98
------------------------------------------------------
214.88 259.08 44.20 0.67
------------------------------------
289.56 315.47 25.91 0.62
------------------------------------
330.71 350.52 19.81 0.81
------------------------------------------------------
MK-RC-0009 62.48 100.58 38.10 0.58
------------------------------------------------------
109.73 128.02 18.29 0.72
------------------------------------
170.69 193.55 22.86 0.54
------------------------------------------------------
MK-RC-0010 146.30 172.21 25.91 0.78
------------------------------------------------------
MK-RC-0011 7.62 36.58 28.96 0.44
------------------------------------------------------
65.53 205.74 140.21 1.00
------------------------------------
includes 114.30 118.87 4.57 5.92
------------------------------------------------------
MK-RC-0012 99.06 126.49 27.43 0.79
------------------------------------------------------
138.68 274.32 135.64 0.56
------------------------------------------------------
MK-RC-0013 115.82 123.44 7.62 4.49
------------------------------------------------------
includes 118.87 121.92 3.05 10.59
------------------------------------
131.06 195.07 64.01 0.74
------------------------------------------------------
MK-RC-0014 181.36 185.93 4.57 0.71
------------------------------------------------------
MK-RC-0015 no significant results
MK-RC-0016 no significant results
------------------------------------------------------
MK-RC-0017 60.96 67.06 6.10 1.01
------------------------------------------------------
102.11 155.45 53.34 0.73
------------------------------------------------------
MK-RC-0018 71.63 82.30 10.67 0.45
------------------------------------------------------
111.25 118.87 7.62 0.98
------------------------------------
137.16 146.30 9.14 0.88
------------------------------------------------------
MK-RC-0020 0.00 24.38 24.38 0.53
------------------------------------
76.20 91.44 15.24 0.72
------------------------------------------------------
140.21 172.21 32.00 0.62
------------------------------------------------------
MK-RC-0021 4.57 24.38 19.81 0.60
------------------------------------------------------
118.87 129.54 10.67 0.65
------------------------------------
146.30 156.97 10.67 0.88
------------------------------------------------------
MK-RC-0023 74.68 89.92 15.24 1.18
------------------------------------------------------
includes 76.20 79.25 3.05 4.17
------------------------------------
114.30 181.36 67.06 0.95
------------------------------------
196.60 254.51 57.91 2.51
------------------------------------
includes 230.12 236.22 6.10 17.64
------------------------------------
Lillian Structure Trench Results
------------------------------------------------------
MK-08-TR01 0.00 16.61 16.61 0.64
------------------------------------------------------
MK-08-TR02 0.00 18.29 18.29 0.90
------------------------------------------------------
Significant intercepts calculated using 0.25 g/t gold
cut-off.
Table 2
New Drill Hole Data Mineralization Summary, Livengood Project, Alaska
Length Average Grade
Total Length Mineralized Mineralized % of Hole
Hole ID (metres) (metres)(i) Section Gold (g/t) Mineralized
---------------------------------------------------------------------------
---------------------------------------------------------------------------
MK-RC-0006 353.57 178.32 0.71 50%
---------------------------------------------------------------------------
MK-RC-0009 246.89 135.63 0.58 55%
---------------------------------------------------------------------------
MK-RC-0010 240.79 57.92 0.73 24%
---------------------------------------------------------------------------
MK-RC-0011 225.55 184.41 0.91 82%
---------------------------------------------------------------------------
MK-RC-0012 307.85 188.98 0.60 61%
---------------------------------------------------------------------------
MK-RC-0013 225.55 88.39 1.07 39%
---------------------------------------------------------------------------
MK-RC-0014 217.93 15.25 0.46 7%
---------------------------------------------------------------------------
MK-RC-0015 195.07 30.48 0.39 16%
---------------------------------------------------------------------------
MK-RC-0016 134.11 0.00 0.00 0%
---------------------------------------------------------------------------
MK-RC-0017 297.18 123.45 0.61 42%
---------------------------------------------------------------------------
MK-RC-0018 252.98 80.77 0.57 32%
---------------------------------------------------------------------------
MK-RC-0020 213.36 97.51 0.56 46%
---------------------------------------------------------------------------
MK-RC-0021 213.36 62.48 0.59 29%
---------------------------------------------------------------------------
MK-RC-0023 288.04 170.68 1.44 59%
---------------------------------------------------------------------------
(i) Criteria - intervals calculated at a 0.25 g/t gold cutoff and can
include up to 3 metres of internal waste. All intervals are summed for the
hole to create an average grade and total thickness for all intervals above
cutoff.To view Figure 1 Livengood drill hole plan map please click on the following link: http://media3.marketwire.com/docs/ith0722.pdf Holes MK-RC 0014, 15 & 16 were drilled in the southwest corner of the target area and indicate that the deposit is restricted in this area as the more favourable host rocks have been structurally removed. Qualified Person Jeffrey A. Pontius (CPG 11044), a qualified person as defined by National Instrument 43-101, has supervised the preparation of the scientific and technical information that forms the basis for this news release and has approved the disclosure herein. Mr. Pontius is the President and CEO of ITH. The work program at Livengood was designed and is supervised by Dr. Russell Myers, Vice President, Exploration of ITH, and Chris Puchner, Chief Geologist (CPG 07048), who are responsible for all aspects of the work, including the quality control/quality assurance program. On-site personnel at the project photograph the core from each individual borehole prior to preparing the split core. Duplicate reverse circulation drill samples are collected with one split sent for analysis. Representative chips are retained for geological logging. All sample shipments are sealed and shipped to ALS Chemex in Fairbanks Alaska for preparation and on to Vancouver, B.C. for assay. ALS Chemex's quality system complies with the requirements for the International Standards ISO 9001:2000 and ISO 17025: 1999. Analytical accuracy and precision are monitored by the analysis of reagent blanks, reference material and replicate samples. Quality control is further assured by the use of international and in-house standards. Finally, representative blind duplicate samples are forwarded to ALS Chemex and an ISO compliant third party laboratory for additional quality control. About International Tower Hill Mines Ltd. 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. 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. On behalf of INTERNATIONAL TOWER HILL MINES LTD. Jeffrey A. Pontius, President and Chief Executive Officer This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 27E of the Exchange Act. Such statements include, without limitation, statements regarding the anticipated content, commencement and cost of exploration programs, anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, the anticipated preparation and timing of an updated 43-101 resource estimate at Livengood, the potential for a significant expansion of the estimated Livengood resources, business and financing plans and business trends. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, the inability of the Company to obtain assay results in a timely manner due to laboratory workload, the Company's inability to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, including those detailed above, and other risks identified in the Company's most recent Management Discussion and Analysis and Form 20F annual report. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and its US disclosure filings at www.sec.gov and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties. This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States. NR-08-17
Contact: Contacts:
International Tower Hill Mines Ltd.
Quentin Mai
Vice-President - Corporate Communications
Toll Free: 1-888-770-7488 or (604) 683-6332
(604) 408-7499 (FAX)
Email: qmai@internationaltowerhill.com
Website: http://www.ITHmines.com
Source: International Tower Hill Mines Ltd.
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