Tower Hill Lays Out 2025 Plans for Livengood
International Tower Hill Mines Ltd. reported that it plans to carry out a $3.7 million work program this year at its 13.5-million-ounce Livengood
compounds, semiconductors, and other applications, there are currently no antimony-producing mines in the U.S. As a result, American manufacturers must depend on imports for their antimony needs. China, which controls roughly half of the world’s supply, banned antimony exports to the U.S. in December – limiting U.S. import options. As a result of China’s earlier antimony export restrictions, followed by the outright ban on exports to the U.S., the antimony price has soared more than 400% since Jan. 1, 2024, to current levels of nearly $60,000 per metric ton. “The market price of antimony has increased to record highs and therefore the significant occurrence of antimony known to exist within our Livengood Gold Project now warrants some of our attention,” said
International Tower Hill Mines CEO Karl Hanneman. To give the Livengood antimony the attention it deserves, major Tower Hill shareholders – Paulson & Co. Inc., Electrum Strategic Opportunities Fund II L.P. and Kopernik Global Investors, LLC – invested $3.9 million to support a 2025 program at the highway- accessible gold mine project. The largest portion of the money allocated for the 2025 program is to be invested in metallurgical studies that will help determine whether antimony can be recovered alongside the gold at Livengood. With gold prices pushing up against the $3,000/ounces threshold, additional revenue from an antimony byproduct could elevate the value and returns from a future Livengood mine. — North of 60 Mining News
gold project in Alaska. Following up on a recent
announcement that it plans to study the potential of recovering antimony at the gold mine project, Tower Hill said this year’s program will include metallurgical studies to better understand the massive stibnite (antimony mineral) found at Livengood, as well as continue to advance environmental baseline and waste geochemical studies that will be needed to permit a mine at Livengood. Lying along a paved highway about 70 miles north of Fairbanks, the Money Knob deposit at Livengood hosts 704.5 million metric tons of measured and indicated resources averaging 0.6 grams per metric ton completed in 2021 detailed plans for a 65,000-metric-ton-per-day mining operation at Livengood that would produce 6.4 million ounces of gold over 21 years, or an average of (13.62 million ounces) gold. A prefeasibility study (PFS) about 304,750 ounces per year. The PFS elevated 430.1 million metric tons of the Livengood resources averaging 0.65 g/t (9 million ounces) gold to proven and probable reserves. At a $2,500/ounces gold price and 2021 cost inputs, the mine detailed in the 2021 PFS generates an after- tax net present value (5% discount) of $2.35 billion, an after-tax internal rate of return of 18.5%, and a capital payback period of 3.9 years. Geological modeling carried out in support of the PFS identified 54 veins of massive stibnite with up to 6.9% antimony, a metalloid critical to the U.S. economy and national security. Despite the critical and strategic
value of this metalloid used in ammunition, fire-resistant
www.alaskaminers.org I The Alaska Miner I March 2025
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