Business
International Tower Hill Mines Announces Appointment of Feasibility Study Team and Launch of Feasibility Study Drilling Program
VANCOUVER, BC, May 13, 2026 /CNW/ - International Tower Hill Mines Ltd. (the "Company") - (TSX: ITH) (NYSE American: THM) today announced that the Company has
About this update from International Tower Hill Mines Ltd.
[{"type":"text","content":" VANCOUVER, BC, May 13, 2026 /CNW/ - International Tower Hill Mines Ltd. (the \"Company\") - (TSX: ITH) (NYSE American: THM) today announced that the Company has awarded Livengood Gold Project Feasibility Study Phase 1 contracts to a consortium comprised of BBA Consultants USA LP, (\"BBA\"), Hatch Ltd, (\"Hatch\"), Newfields Mining Design and Technical Services LLC (\"Newfields\"), Resource Development Associates, Inc. (\"RDA\"), and JDS Energy and Mining Inc. (\"JDS\"). The Company is also pleased to announce that core drilling to support the feasibility study has commenced. See Figure 1. Alloy Drilling Inc, an Alaska-based drilling contractor with operations throughout the western United States, has mobilized two rigs to Livengood and has begun drilling its initial large-diameter PQ core holes within the 13.6 million ounce measured and indicated resource, which includes the 9.0 million ounce proven and probably gold reserve. The drilling program is designed to provide representative fresh ore samples for advanced metallurgical testing and process optimization work. The metallurgical testwork on this fresh core will focus on evaluating opportunities to enhance gold recoveries and overall project economics in the context of a substantially higher gold price than the $1,680 per ounce assumption utilized in the Company's prior study. The prior study selected gravity/CIL as the preferred processing option at the time but previous screening test work has demonstrated the potential for significant recovery improvements from some Livengood ore through the application of pressure oxidation (\"POX\"). With current gold prices significantly above prior study assumptions, the Company believes a comprehensive evaluation of alternative processing technologies and associated trade-off studies are warranted to determine whether additional value can be unlocked from the Project. See Figure 2. Phase 1 of the Feasibility Study will: (1) Ensure that the planned metallurgical test work provides the detail necessary to support the upcoming tradeoff studies and detailed engineering; (2) Review and validate existing technical data, including the detailed geotechnical and hydrogeological site work completed in support of the 2013 Feasibility Study, and identify any material data gaps; and (3) Develop a comprehensive execution plan and budget for compl...