ITH Expands Terra High-Grade Gold Project, Alaska
Friday, November 9th, 2007
International Tower Hill Mines Ltd. is pleased to announce the drill results for the final four holes of its 2007 exploration program at its Terra Project in Alaska. Resource definition results, which will form part of the forthcoming 43-101 resource estimate, continue to expand and confirm the extent and gold continuity of the Main Ben Vein. In addition, exploration drilling, 3 kilometres to the south of the Ben Vein, has intersected an exciting new high-grade vein system at the Ice Vein target (Tables 1 and 2).
In the Ben Vein area, all twenty holes completed to date have intersected the main vein as well as a number of new subsidiary gold bearing veins in the foot and hanging wall. The Ben Vein system is open along strike and at depth, with a minimum strike length of 400 metres and depth of at least 300 metres. The mineralized vein varies in true width (using a 3 g/t cutoff grade) from 0.2 to 3.0 metres, and averages 1.04 metres at 19.8 g/t gold with the high-grade zone averaging 1.27 metres at 23.0 g/t gold.
All three of the holes drilled at the Ice target intersected a previously unknown high-grade gold vein zone. The Ice Vein system has now been traced 175 metres down dip and remains open.
The thirty drill holes completed to date at Terra have defined four vein systems within a five kilometre long, highly prospective, gold trend. The veins occur within and adjacent to dioritic intrusive rocks of similar age to the Donlin Creek gold deposit to the west. These high-grade gold veins generally strike north-northwest and dip steeply to the southwest.
The final drill hole of the season at the Ben Vein zone (TR-07-31) contained a 9.5 metre intersection which, at a 1 g/t cutoff, is the thickest drilled to date (Table 2). The information indicates that the Ben Vein may contain a number of high-grade shoots within the overall vein structure. Now that all 2007 drill results are finalized, the Company has initiated resource modeling of Ben Vein, which is presently anticipated to be completed in the first quarter of 2008.
Initial drill testing of the Ice Vein has established the continuity of this vein system for 175 metres down dip from the outcrop and has revealed a veinlet-hosted zone in the shallow subsurface which assays up to 4 grams gold over a 5.0 meter intersection (TR-07-30, Table 1). These results confirm the structural continuity of the Ice 1 Vein and highlight the potential of this zone to add to the overall Terra Project resource.
Table 1: Intercepts of Gold Mineralization (using a 3 g/t cutoff)
Drill Hole, Area, From(m), To(m), Thickness(m), Gold Grade(g/t), Vein Name
TR-07-29 Ice 23.33 24.00 0.67 6.76 Ice-1
132.75 135.17 2.42 9.53 Ice-2
TR-07-30 Ice 3.96 4.46 0.50 4.47
8.47 8.91 0.44 9.51
10.65 15.7 5.05 3.96 Ice-1
140.82 142.45 1.63 3.68 Ice-2
158.95 160.17 1.22 3.30
TR-07-31 Bens 61.11 61.41 0.30 3.97
133.65 134.90 1.25 3.30
136.15 136.40 0.25 3.23
137.15 139.90 2.75 8.40 Ben Main
141.65 142.40 0.75 29.67
153.90 154.10 0.20 14.15
156.67 157.88 1.21 4.23
Table 2: Significant Ice and Ben Vein Gold Intersections (using a 1 g/t cutoff)
Drill Hole, Area, From(m), To(m), Thickness(m), Grade(g/t)Au, Vein Name
TR-07-29 Ice 22.25 24 1.75 3.94 Ice-1
132.75 135.17 2.42 9.53 Ice-2
TR-07-30 Ice 10.4 15.7 5.3 3.89 Ice-1
140.82 144.52 3.7 3.14 Ice-2
TR-07-31 Bens 132.9 142.4 9.5 6.26 Ben Main
TR-07-32 Ice 8.72 9.2 0.48 2.28 Ice-1
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