International Tower Hill Mines Launches Plan to Advance Livengood Gold Project, Alaska
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International Tower Hill Mines’ board of directors has approved a work plan to prepare a pre-feasibility study on the Livengood gold project.
The company believes that the recent strength in the price of gold arising from the unprecedented accommodative fiscal and monetary stimulus from central banks and governments globally provides the necessary macroeconomic backdrop to support the advancement of the large, highly-levered, and long-life gold asset at Livengood.
“Over the last several years, we have quietly remained laser focused on improving our geological and metallurgical understanding of the Livengood Gold deposit, which reported a 11.5 million ounce gold resource in our 2017 NI 43-101,” said Karl Hanneman, CEO.
“We intend to use new tools that have emerged in recent years, such as Whittle Enterprise Optimization, to incorporate this new information with our previous solid technical work to design the best possible Livengood Gold project and to update our NI 43-101 to further de-risk the project and demonstrate its value in a higher gold price environment,” added Hanneman.
“Since 2016 we have conserved our cash to maximize optionality for ITH shareholders, and we are well positioned to embark on a new phase for the Livengood project as a result of the favorable macro-economic backdrop for gold.” said Marcelo Kim, chairman.
“ITH owns the largest independent gold-only resource in North America and we believe that in a rising gold price, the Livengood project becomes one of the most coveted and substantial assets in a geopolitically safe jurisdiction, in a time when most gold companies are struggling to replenish their reserves.Our aim is to unlock that value for shareholders by proceeding with a Pre-Feasibility Study that will update our project’s parameters,” added Kim.
The company said it is mindful that the worldwide pandemic has caused extreme disruption to personal lives and to normal business practices. With this in mind, and with board authorization to proceed, the company will immediately begin work with its team and technical consultants to develop a more definitive timeline and budget for completion of the pre-feasibility study update and release of an NI 43-101.
About International Tower Hill Mines Ltd.
International Tower Hill Mines Ltd. has a 100 percent interest in the Livengood Gold Project located along the paved Elliott Highway, 70 miles north of Fairbanks, Alaska.
To stop by International Tower Hill’s website, CLICK HERE
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