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Wednesday, 24th January 2007 (5638 views)

The results of its fall drilling programme involving 1,227 metres of boring work have been released by International Tower Hill Mines.

Centring around the mining company's Livengood property in Fairbanks, Alaska, a total of five holes were drilled and gold was found to be present in four of these.

Highlights of the work include 1.59 grams of gold per tonne over 94.6 metres which International Tower Hill Mines believes could lead to further discoveries of higher grade zones in this particular area.

Situated on the Tintina gold belt, the property can be accessed via the Elliot Highway and a 100 per cent interest was acquired from AngloGold Ashanti in August last year.

AngloGold Ashanti recorded gold grades of 1.10 grams per tonne over 134 metres in 2003, underlining the potential of the site for large bulk tonnage gold systems.

The next phase of exploration is underway with a gold characterisation study being carried out at the present time as International Tower Hill continues to develop its Alaskan mines portfolio.

 

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