International Tower's Knob at 8.1 million Au indicated
Shares Issued 56,222,473
Last Close 10/9/2009 $5.64
Tuesday October 13 2009 - News Release
Mr. Jeffrey Pontius reports
INTERNATIONAL TOWER HILL EXPANDS LIVENGOOD GOLD RESOURCE BY 64%
International Tower Hill Mines Ltd. has released the results of the independently prepared October, 2009, mineral resource estimate for the Money Knob deposit at the Livengood gold project near Fairbanks, Alaska. The independent study incorporates all drilling results received through September 25, 2009, a total of 308 diamond and reverse circulation holes, totalling 83,200 metres. The project continues to operate 4 drills and expects to complete approximately 25 additional holes before the end of the 2009 drill campaign. Results for an additional 37 completed drill holes are pending.
Using a 0.5 g/t gold cutoff, the new estimate yielded an indicated resource of 8.1M ounces of gold and an inferred resource of 4.4M ounces of gold (Table 1: http://media3.marketwire.com/docs/t1ith.pdf). Using a 0.7 g/t gold cutoff, the new resource yielded an indicated resource of 5.4M ounces of gold and an inferred resource of 2.8M ounces of gold (Table 2: http://media3.marketwire.com/docs/t2ith.pdf). Using a 0.9 g/t gold cutoff, the new resource estimate yielded an indicated resource of 3.4M ounces gold at 1.36 g/t gold and inferred resource of 1.8M ounces gold at 1.46 g/t gold (Table 3: http://media3.marketwire.com/docs/t3ith.pdf). These high-grade areas form large coherent bodies that could form important economic drivers for future mining studies.
