Application Submitted to Increase Brucejack Production to 3,800 tonnes per day
December 21 2017 - 6:34PM
Pretium Resources Inc. (TSX:PVG) (NYSE:PVG) (“Pretivm” or
the “Company”) is pleased to announce that an application has been
submitted to the BC Ministry of Energy, Mines and Petroleum
Resources and the BC Ministry of Environment and Climate Change
Strategy to increase the Brucejack Mine production rate to 3,800
tonnes per day. The application submitted on December 20,
2017 reflects a production rate increase to an annual average of
1.387 million tonnes from 0.99 million tonnes (daily average of
3,800 tonnes from 2,700 tonnes). The approval process is expected
to take approximately six to twelve months.
Engineering is underway to assess the mill
capacity upgrades required to increase the production rate. Based
on preliminary engineering, the capital cost to increase the mill
capacity is estimated to be less than US$25 million and will be
updated when the engineering process is complete.
Lyle Morgenthaler, B.A.Sc., P.Eng., Chief Mine
Engineer, Pretium Resources Inc. is the Qualified Person
responsible for Brucejack Mine development.
About Pretivm
Pretivm is ramping-up gold production at the
high-grade underground Brucejack Mine in northern British
Columbia.
For further information contact:
Joseph
Ovsenek |
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Troy Shultz |
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President &
CEO |
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Manager, Investor
Relations & |
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Corporate
Communications |
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Pretium Resources Inc. Suite 2300, Four Bentall Centre, 1055
Dunsmuir Street PO Box 49334 Vancouver, BC V7X 1L4 (604) 558-1784
invest@pretivm.com (SEDAR filings: Pretium Resources
Inc.)
Forward-Looking Statements
This News Release contains “forward-looking
information” and “forward looking statements” within the meaning of
applicable Canadian and United States securities legislation.
Statements contained herein that are not based on historical or
current fact, including without limitation statements containing
the words “anticipates,” “believes,” “may,” “continues,”
“estimates,” “expects,” and “will” and words of similar import,
constitute “forward-looking statements” within the meaning of the
U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking information may include, but is not limited to,
information with respect to our planned exploration and development
activities, the accuracy of our mineral resource estimates; capital
and operating cost estimates; production and processing estimates;
the results, the adequacy of Pretivm's financial resources, the
estimation of mineral reserves and resources including the 2016
Valley of the Kings Mineral Resource estimate and the Brucejack
Mineral Reserve estimate, realization of mineral reserve and
resource estimates and timing of development of Pretivm's Brucejack
Mine, costs and timing of future exploration, results of future
exploration and drilling, production and processing estimates,
capital and operating cost estimates, timelines and similar
statements relating to the economic viability of the Brucejack
Mine, timing and receipt of approvals, consents and permits under
applicable legislation, Pretivm's executive compensation approach
and practice, and statements regarding USD cash flows and the
recurrence of foreign currency translation adjustments. Wherever
possible, words such as “plans”, “expects”, “projects”, “assumes”,
“budget”, “strategy”, “scheduled”, “estimates”, “forecasts”,
“anticipates”, “believes”, “intends”, “targets” and similar
expressions or statements that certain actions, events or results
“may”, “could”, “would”, “might” or “will” be taken, occur or be
achieved, or the negative forms of any of these terms and similar
expressions, have been used to identify forward-looking statements
and information. Statements concerning mineral reserve and resource
estimates may also be deemed to constitute forward-looking
information to the extent that they involve estimates of the
mineralization that will be encountered if the property is
developed. Any statements that express or involve discussions with
respect to predictions, expectations, beliefs, plans, projections,
objectives, assumptions or future events or performance are not
statements of historical fact and may be forward-looking
information. Forward-looking information is subject to a variety of
known and unknown risks, uncertainties and other factors that could
cause actual events or results to differ from those expressed or
implied by the forward-looking information, including, without
limitation, those risks identified in Pretivm's Annual Information
Form dated March 30, 2017 filed on SEDAR at www.sedar.com and in
the United States on Form 40-F through EDGAR at the SEC's website
at www.sec.gov. Forward-looking information is based on the
expectations and opinions of Pretivm's management on the date the
statements are made. The assumptions used in the preparation of
such statements, although considered reasonable at the time of
preparation, may prove to be imprecise. We do not assume any
obligation to update forward-looking information, whether as a
result of new information, future events or otherwise, other than
as required by applicable law. For the reasons set forth above,
prospective investors should not place undue reliance on
forward-looking information. Neither the TSX nor the NYSE has
approved or disapproved of the information contained herein.
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