International Tower Hill Drills 100 Metres Of 1.11 g/t Gold

International Tower Hill Mines Inc. got results from the two holes it drilled earlier this year on its Livengold Project. Hole MK-RC-0112 intersected 100 metres of 1.11 g/t gold and 17 metres of 0.97 g/t. The second hole, MK-RC-0111, intersected 68 metres of 0.59 g/t gold. A recently-completed bought deal will allow International Tower to double its 2009 drilling program for the property. The news release also has details on the project itself, including the most current resource estimate. (3.41 million ounces indicated, 3.39 million inferred, using a cutoff grade of 0.5 grams per ton.)

Like many other gold stocks, International Tower is down today. Before the news was disseminated, the stock was at about $2.50; dissemination gave it a bump-up to almost $2.60. After briefly re-slumping down to $2.51 at 2:48 PM ET, International got back up to $2.56 as of 3 PM ET.

Its Google Finance web page is here.

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