Name and Location
Livengood gold project, Alaska, US.

Client
International Tower Hills Mines (ITH).

Project Description
The project has been designed as a conventional, owner-operated surface mine that will use large-scale mining equipment in a blast/load/haul operation. Ore is planned to be processed in a 100 000 t/d comminution circuit, consisting of a primary gyratory crusher, wet grinding in a single semiautogenous mill and two ball mills, a gravity gold circuit and a conventional carbon-in-leach circuit.

The project will include a lined tailings management facility, two water reservoirs, an administration office/shop/warehouse complex and a 440-person camp, as well as the construction of a 80.4 km transmission line to the site from the existing grid power near Fairbanks, Alaska.

Value
Initial capital costs for the project are estimated at $2.79-billion.

Duration
A timeframe has not been disclosed.

Latest Developments
A feasibility study (FS) on ITH’s Livengood project has determined that the project is not economically robust in the current gold market.

“While the large project FS results are not economically robust in today’s gold market, the Livengood project remains a very significant gold deposit in one of the most favourable jurisdictions in the world. The company is highly focused on advancing lower-cost opportunities identified in the FS,” say ITH CEO Don Ewigleben.

The company believes that the mill throughput and production schedule optimisation studies may provide opportunities to reduce project capital costs. A lower mill throughput may offer an opportunity to enhance mill head grades in the early years using a more aggressive stockpile management strategy than is assumed in the FS.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
ITH investor relations manager Michelle Stachnik, tel +1 720 881 7646 ext 203 or email mstachnik@ithmines.com.