International Tower Hill Mines (THM)

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<Optimizing Livengood

While International Tower Hill Mines Ltd.’s Livengood project may be the smallest of Alaska’s Big 3, the 11.5 million oz of gold in the measured and indicated resource category definitely earns the world-class moniker.
The fact that it lies alongside a paved highway only 70 miles north of Fairbanks adds to the unique attributes of this large, but relatively low-grade gold mine project.

A pre-feasibility study completed for Livengood in 2016 outlines plans for a 52,600-metric-ton-per-day mill that would produce 6.8 million oz of gold over a 23-year mine life, or roughly 294,100 oz annually.

This is based on 392 million metric tons of reserves averaging 0.71 g/t (9 million oz) gold.

“The fundamentals of the project are compelling: one of the largest gold resources in North America that is not owned by a major, an accessible location in a stable jurisdiction, and a project that is highly leveraged to the gold price,” said Karl Hanneman, who took over as Tower Hill CEO in February.

This year, Tower Hill is investing around US$6.3 million in a work program focused largely on improving the economics of developing this deposit into a world-class mine.

The 2017 program targeted those aspects of the project that could deliver the highest increase to its net present value for the least expenditure. Work is also planned to advance the environmental baseline efforts needed to support future permitting.

Turning Livengood and its advanced exploration counterparts into operating mines would go a long way toward Alaska further realizing the economic benefits of the world-class minerals potential for which the Far North state is renowned.>

http://www.petroleumnews.com/pntruncate/912573289.shtml