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Message: Reports Extension of High Grade SW Zone and Expansion of Livengood Gold Deposit,
| April 23, 2009 | |
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International Tower Hill Reports Extension of High Grade SW Zone and Expansion of Livengood Gold Deposit, Alaska
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 23, 2009) - International Tower Hill Mines Ltd. ("ITH" or the "Company") (TSX VENTURE:ITH)(NYSE Alternext US:THM)(NYSE Amex:THM.A)(FRANKFURT:IW9) is pleased to announce results from fifteen additional holes from the 2009 Winter resource expansion program on its Livengood Gold Project, Alaska (Table 1). Drill results continue to confirm expansion of the main deposit SW Zone. Hole MK-RC-0120, which is the furthest drilled to the southwest to date, being collared 600 metres south and 400 metres west of the nearest reported 2008 resource hole, returned a high grade zone of 45.7 metres @ 2.11 g/t gold. New Drill Results Drill results from the SW Zone have produced numerous thick intervals above 1 g/t gold, with many exceeding 2 g/t gold. This is characteristic of the best parts of the Core Zone, located approximately 500 metres to the east. The new high-grade SW Zone area (Figure 1) appears to be related to a generalized northeast trend of mineralization that extends over a kilometre to the northeast, as evidenced by holes MK-RC-0130 - 96 metres @ 1.1 g/t gold and MK-RC-0112 - 41 metres @ 1.69 g/t gold and 101 metres @ 1.13 g/t gold announced on March 10, 2009. This new northeast trend is open along strike and at depth. To the west, three infill holes have been completed, including MK-RC-0126 which returned 54.9 metres @ 1.34 g/t gold and 39.6 metres @ 2.37 g/t gold. "In light of the project's new metallurgical data, which suggests high mill gold recoveries of approximately 89%, high grade areas such as the SW Zone have potential to substantially improve the project economics," stated Jeff Pontius, President & CEO. "Given these strong results from its winter program, the Company believes it is on track to increase the existing resources by 25% at the 0.5 g/t cutoff level in the June resource update." The Company completed its 10,000 metre winter drill program on April 18th and is now focusing on preparation of an updated resource estimate, which it expects to announce in June, 2009. The Main Phase (Summer) 2009 drill program, which will start at the beginning of June, is planned to run through October, 2009, and will include at least 35,000 metres of Reverse Circulation and Core drilling (representing an approximate 70% increase in the number of metres drilled to date at the Livengood project). The June resource estimate will be used to conduct the first preliminary economic analysis of the Livengood project, which the Company expects to release in the third quarter of 2009. Table 1: New significant intercepts from Livengood(i)
From To Length Gold Area of
Drill Hole # (metres) (metres) (metres) (g/t) the Deposit
--------------------------------------------------------- -----------
--------------------------------------------------------- -----------
MK-RC-0119 12.19 21.34 9.15 8.33 SW Zone
59.44 117.35 57.91 2.18
MK-RC-0120 268.22 313.94 45.72 2.11 SW Zone
MK-RC-0121 160.02 175.26 15.24 0.90 SW Zone
181.36 230.12 48.76 0.89
MK-RC-0122 211.84 272.80 62.48 0.87 SW Zone
MK-RC-0123 33.53 42.67 9.14 1.46 SW Zone
47.24 51.82 4.58 1.90
156.97 169.16 12.19 1.91
173.74 332.84 159.10 1.00
MK-RC-0124 9.14 16.76 7.62 3.68 SW Zone
103.63 106.68 3.05 2.12
164.59 245.36 80.77 0.72
252.98 257.56 4.58 1.03
280.42 288.04 7.62 1.01
MK-RC-0125 22.86 27.43 4.57 5.21 Infill
124.97 167.64 42.67 0.92
185.93 211.84 25.91 0.65
237.74 278.89 41.15 0.77
MK-RC-0126 53.34 59.44 6.10 1.78 Infill
85.34 88.39 3.05 3.00
92.96 128.02 35.06 0.82
140.21 195.07 54.86 1.34
199.64 239.27 39.63 2.37
MK-RC-0127 0.00 3.05 3.05 3.32 SW Zone
150.88 166.12 15.24 1.08
210.31 249.94 39.63 0.46
MK-RC-0128 16.76 22.86 6.10 1.00 NE Zone
67.06 73.15 6.09 2.61
109.73 128.02 18.29 0.76
135.64 146.30 10.66 0.72
236.22 277.37 41.15 0.74
MK-RC-0129 74.68 83.82 9.14 1.22 SW Zone
172.21 185.93 13.72 0.76
195.07 239.27 44.20 0.77
MK-RC-0130 1.52 41.15 39.63 0.65 NE Zone
185.93 281.94 96.01 1.10
MK-RC-0131 118.87 131.06 12.19 1.68 SW Zone
161.54 170.69 9.15 2.27
178.31 190.50 12.19 1.57
195.07 213.36 18.29 0.71
MK-RC-0132 48.77 51.82 3.05 4.43 SW Zone
155.45 181.36 25.91 1.35
MK-RC-0134 53.34 65.53 12.19 1.57 Infill
105.16 141.73 36.57 1.07
(i) Intercepts based on 0.25 g/t gold cutoff and maximum 3 metres of
internal waste.
Livengood Project Background The Livengood project has a very favourable logistical location, being situated 110 road kilometres north of Fairbanks, Alaska along the paved all-weather Elliot Highway and the Trans Alaska Pipeline Corridor; and approximately 55 kilometres north of the Alaska State power grid and along the proposed Alaska natural gas pipeline route. ITH controls 100% of its 44 square kilometre Livengood land package that is primarily comprised of fee land leased from the Alaska Mental Health Trust and a number of smaller private mineral leases. The thick, shallowly dipping, outcropping gold deposit at Livengood has a favourable geometry for a low strip, bulk tonnage mining operation. Initial metallurgical data indicates the deposit is potentially amenable to low cost, heap leach gold recovery. The Company and its predecessor, AngloGold Ashanti (U.S.A.) Exploration Inc., have been exploring the Livengood area since 2003, with the project's first indicated resource estimate being announced in early 2008. The 2008 drilling program marked the first grid drilling resource definition campaign for the project and is only the initial step in what the Company envisions as a major exploration program to define what it anticipates is one of the world's larger new gold deposits. A 3D image of the most recently released Livengood drill information can be viewed at: http://www.corebox.net/properties/li... . 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 the advanced multimillion ounce gold discovery at Livengood. ITH is committed to building shareholder value through new discoveries while maintaining a majority interest in its key 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 |
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