Friday, 16th November 2007 (1501 views)

Final drilling results from a resource definition drilling programme at the Livengood gold deposit have increased the gold resources in the Lillian Creek zone.

International Tower Hill Mines has reported that the four final diamond drill holes on the site have indicated "significant" additional potential for expansion outside of the core target area.

A trend of gold mineralisation previously thought to be around two kilometres long may in fact be larger than expected, which could "dramatically increase" the size of the gold deposit on the project.

A major drilling operation to further define resources in the zone is currently being planned, with work to begin on the site in 2008.

Situated around 120 kilometres north of Fairbanks, Alaska, the main target of the Livengood property is located in the centre of the Livengood Placer District, where gold has been historically mined since 1914.

According to the company, since the early 1900s, the area has produced more than 500,000 ounces of gold.

 

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