Pretium Resources Inc. (TSX:PVG) (NYSE:PVG) (“Pretivm” or the
“Company”) is pleased to report the results of underground
exploration drilling. Both holes, over 1,500-meters in length,
drilled east from the Valley of the Kings intersected
Brucejack-style mineralization throughout, with anomalous copper
and molybdenum mineralization suggesting proximity to
porphyry-style mineralization at depth.
The drilling was conducted to test
mineralization continuity between the Valley of the Kings and the
Flow Dome Zone while assessing the potential for a porphyry source
at depth. The Flow Dome Zone is an area approximately 1,000
meters east of the Brucejack Mine, where drilling in 2015
intersected high-grade gold (see news release dated October 8,
2015). Holes VU-820 and VU-911 were drilled from the eastern edge
of the 1200-meter level of the Valley of the Kings underground
development. Hole VU-820 was drilled 1,584 meters to the east
at a -50 degree angle, and hole VU-911 was drilled 1,555 meters to
the east at a -65 degree angle.
For a section view of the reported holes please
see the following link:
http://resource.globenewswire.com/Resource/Download/9b7ad566-f5c4-47af-be72-c1506ddc59d8
Extending the known limits of the Brucejack Mine
mineralization
Results confirm the presence of Brucejack-style
mineralization starting from the eastern edge of the Valley of the
Kings to beneath the Flow Dome Zone. Oriented core drilling
intersected Brucejack-style alteration, veining, and mineralization
along the length of both drill holes. The holes were directed to
test the porphyry potential and were drilled subparallel to the
stockwork veining. Stockwork veinlets and significant
stockwork breccia containing gold and silver mineralization were
intersected in both drill holes. Four occurrences of visible gold
were noted between depths of 105 meters and 802 meter in the
steeper (VU-911) drill hole. (See Table 1 below for select
assays.) These results will be used for planning a future
underground drill program focused on resource expansion of the
Valley of the Kings to the east.
Selected drill highlights include:
Hole VU-820 intersected:
- 1.71 grams of gold per tonne over 90.21 meters, including
5.12 grams of gold per tonne over 1.00 meter, 6.43 over 4.00
meters, 58.70 over 1.00 meter, and 6.06 over 1.00 meters;
- 46.00 grams of gold per tonne over 1.00 meter;
Hole VU-911 intersected:
- 157.00 grams of gold per tonne over 0.50 meters, visible gold
was observed;
- 142.00 grams of gold per tonne over 1.50 meters;
- 76.30 grams of gold per tonne over 0.50 meters, visible gold
was observed;
- 33.60 grams of gold per tonne over 0.50 meters, visible gold
was observed;
Exploration Drilling for Porphyry Source
Anomalous copper and molybdenum mineralization
intersected at depth in both holes. The zone of anomalous
mineralization extends at depths of between 1,400 meters and 1,485
meters in drill hole VU-911, and occurs more diffusely over a
broader area in drill hole VU-820 (1260 meters to 1585 meters
down-hole depth). These intervals line-up sub vertically between
both drill holes. The mineralized zone in drill hole VU-911
corresponds with a downhole total field magnetic high, change in
alteration, and the presence of a coarse porphyritic host
rock. Pyrite grains from both holes show a transition from
being zoned (Valley of the Kings style) to being unzoned with
inclusions of chalcopyrite (Kerr style) downhole. These
features suggest increased proximity to porphyry style
mineralization at depth below the Flow Dome Zone.
A follow-up surface geophysical program will be
initiated utilizing the data from the downhole in-situ electrode.
The drill results along with the geophysics will be compiled to
refine targeting of this zone for subsequent drilling.
Mineral chemistry evaluation for porphyry vectoring and
geochronology of porphyritic material at depth is currently
underway.
Warwick Board, Ph.D., P.Geo, Pr.Sci.Nat., Vice
President, Geology and Chief Geologist, Pretium Resources Inc. is
the Qualified Person (“QP”) responsible for the Brucejack Mine
exploration drilling.
Regional Grass-Roots Exploration
Crews have been mobilized to site and an MT
geophysical survey is currently underway to refine high-priority
targets for a 1,500 meter regional exploration drilling planned to
commence in July. The 2018 regional grass-roots exploration
program follows up on the comprehensive regional exploration that
has previously been completed on the 1,250-square kilometer
property, including sampling, regional mapping, prospecting,
airborne geophysics, ground geophysics, and hyperspectral mapping.
To date, the program has resulted in the identification of several
distinct areas that have the potential to host mineralized zones
similar to the Valley of the Kings and Eskay Creek deposits.
Kenneth C. McNaughton, M.A.Sc., P.Eng., Chief
Exploration Officer, Pretium Resources Inc. is the QP responsible
for the regional grass-roots exploration program.
Table 1: Selected Exploration Drill Results, June
2018 (VU-820 & VU-911)(1,2)
HoleNo. |
Dip/ Azimuth |
From(meters) |
To(meters) |
Interval (meters) |
Gold (g/t) |
Silver (g/t) |
Comments |
VU-820 |
-50/90 |
53.00 |
56.00 |
3.00 |
0.71 |
5.00 |
|
|
|
74.00 |
75.00 |
1.00 |
11.30 |
20.70 |
|
|
|
121.00 |
122.00 |
1.00 |
3.53 |
2.70 |
|
|
|
153.00 |
154.00 |
1.00 |
24.10 |
12.30 |
|
|
|
177.00 |
178.00 |
1.00 |
1.25 |
96.00 |
|
|
|
181.00 |
182.00 |
1.00 |
1.20 |
40.40 |
|
|
|
229.00 |
230.00 |
1.00 |
1.11 |
60.60 |
|
|
|
307.80 |
309.41 |
1.61 |
17.38 |
822.29 |
|
|
incl. |
307.80 |
308.33 |
0.53 |
18.10 |
1480.00 |
|
|
incl. |
308.33 |
308.89 |
0.56 |
30.50 |
838.00 |
|
|
|
396.00 |
397.00 |
1.00 |
1.20 |
32.80 |
|
|
|
400.00 |
401.00 |
1.00 |
1.41 |
6.10 |
|
|
|
409.00 |
410.00 |
1.00 |
1.46 |
28.70 |
|
|
|
425.00 |
426.00 |
1.00 |
1.20 |
2.80 |
|
|
|
441.79 |
532.00 |
90.21 |
1.71 |
13.43 |
|
|
incl. |
464.00 |
465.00 |
1.00 |
5.12 |
8.00 |
|
|
incl. |
470.00 |
474.00 |
4.00 |
6.43 |
38.75 |
|
|
incl. |
491.00 |
492.00 |
1.00 |
4.69 |
5.50 |
|
|
incl. |
497.00 |
498.00 |
1.00 |
58.7 |
52.30 |
|
|
incl. |
501.00 |
516.00 |
15.00 |
1.29 |
14.97 |
|
|
incl. |
522.00 |
523.00 |
1.00 |
6.06 |
92.90 |
|
|
incl. |
530.00 |
532.00 |
2.00 |
3.77 |
95.20 |
|
|
|
544.00 |
560.00 |
16.00 |
2.88 |
93.10 |
|
|
incl. |
545.00 |
547.00 |
2.00 |
2.48 |
323.00 |
|
|
incl. |
548.00 |
550.00 |
2.00 |
8.92 |
179.90 |
|
|
incl. |
556.00 |
557.00 |
1.00 |
11.7 |
62.60 |
|
|
|
567.00 |
568.00 |
1.00 |
2.80 |
9.50 |
|
|
|
577.00 |
583.00 |
6.00 |
3.94 |
100.58 |
|
|
incl. |
578.00 |
581.00 |
3.00 |
3.59 |
60.57 |
|
|
incl. |
581.00 |
583.00 |
2.00 |
5.81 |
204.00 |
|
|
|
585.00 |
589.00 |
4.00 |
1.28 |
11.43 |
|
|
|
621.00 |
622.00 |
1.00 |
1.74 |
1.90 |
|
|
|
646.00 |
655.00 |
9.00 |
2.30 |
36.18 |
|
|
incl. |
646.00 |
648.00 |
2.00 |
7.32 |
96.20 |
|
|
|
660.00 |
661.00 |
1.00 |
3.74 |
4.70 |
|
|
|
722.00 |
723.00 |
1.00 |
1.35 |
58.30 |
|
|
|
818.00 |
819.00 |
1.00 |
1.14 |
60.50 |
|
|
|
915.00 |
916.00 |
1.00 |
1.30 |
1.90 |
|
|
|
1128.00 |
1129.00 |
1.00 |
46.00 |
49.50 |
|
|
|
1143.00 |
1144.00 |
1.00 |
3.18 |
1.20 |
|
|
|
1148.00 |
1150.00 |
2.00 |
3.94 |
48.50 |
|
|
incl. |
1149.00 |
1150.00 |
1.00 |
5.38 |
55.50 |
|
|
|
1161.00 |
1162.00 |
1.00 |
1.68 |
2.20 |
|
|
|
1193.00 |
1194.00 |
1.00 |
2.80 |
3.30 |
|
|
|
1329.00 |
1330.00 |
1.00 |
1.82 |
2.00 |
|
|
|
1518.00 |
1519.00 |
1.00 |
1.06 |
15.40 |
|
VU-911 |
-65/90 |
104.50 |
105.40 |
0.90 |
1.16 |
27.70 |
|
|
|
105.40 |
105.90 |
0.50 |
157.00 |
123.00 |
Visible gold |
|
|
138.00 |
139.50 |
1.50 |
1.70 |
1.00 |
|
|
|
151.50 |
153.00 |
1.50 |
142.00 |
70.60 |
|
|
|
161.50 |
162.00 |
0.50 |
76.30 |
25.20 |
Visible gold |
|
|
163.50 |
165.00 |
1.50 |
2.33 |
15.40 |
|
|
|
166.50 |
168.00 |
1.50 |
5.21 |
6.90 |
|
|
|
184.50 |
186.00 |
1.50 |
43.20 |
29.30 |
|
|
|
204.00 |
205.50 |
1.50 |
1.34 |
2.40 |
|
|
|
279.00 |
280.50 |
1.50 |
2.28 |
1.30 |
|
|
|
385.50 |
387.00 |
1.50 |
6.54 |
397.00 |
|
|
|
477.00 |
478.50 |
1.50 |
2.01 |
7.60 |
|
|
|
486.00 |
487.50 |
1.50 |
1.88 |
9.60 |
|
|
|
550.50 |
552.00 |
1.50 |
1.38 |
4.00 |
|
|
|
606.00 |
609.00 |
3.00 |
4.19 |
4.20 |
|
|
incl. |
606.00 |
607.50 |
1.50 |
5.55 |
3.60 |
|
|
incl. |
607.50 |
609.00 |
1.50 |
2.82 |
4.80 |
|
|
|
619.50 |
620.70 |
1.20 |
1.52 |
1.30 |
|
|
|
631.50 |
633.00 |
1.50 |
2.89 |
5.60 |
|
|
|
657.50 |
658.00 |
0.50 |
1.65 |
1.40 |
Visible gold |
|
|
694.00 |
695.50 |
1.50 |
1.27 |
10.70 |
|
|
|
727.00 |
728.50 |
1.50 |
1.42 |
1.30 |
|
|
|
736.00 |
737.50 |
1.50 |
2.39 |
2.70 |
|
|
|
742.00 |
743.50 |
1.50 |
2.92 |
2.80 |
|
|
|
746.50 |
748.00 |
1.50 |
1.03 |
5.70 |
|
|
|
776.50 |
779.50 |
3.00 |
1.12 |
2.65 |
|
|
incl. |
776.50 |
778.00 |
1.50 |
1.16 |
3.10 |
|
|
incl. |
778.00 |
779.50 |
1.50 |
1.07 |
2.20 |
|
|
|
781.00 |
782.50 |
1.50 |
4.19 |
0.70 |
|
|
|
802.29 |
802.79 |
0.50 |
33.60 |
1825.00 |
Visible gold |
|
|
811.00 |
812.50 |
1.50 |
1.17 |
4.80 |
|
|
|
820.00 |
821.50 |
1.50 |
2.66 |
2.50 |
|
|
|
860.50 |
862.00 |
1.50 |
1.52 |
1.90 |
|
|
|
1054.00 |
1055.50 |
1.50 |
1.58 |
1.40 |
|
|
|
1183.00 |
1184.50 |
1.50 |
3.94 |
3.30 |
|
|
|
1403.50 |
1405.00 |
1.50 |
1.53 |
3.90 |
|
|
|
1504.00 |
1505.50 |
1.50 |
1.04 |
0.25 |
|
(1) True thickness to be
determined.
(2) All samples were submitted for preparation and analysis by ALS
Chemex at its facilities in Terrace, B.C. All samples were analyzed
using multi-digestion with ICP finish and fire assay with AA finish
for gold. Samples with over 10 ppm gold were fire assayed with a
gravimetric finish. Samples over 100 ppm silver were reanalyzed
using four acid digestion with an ore grade AA finish. Samples over
1,500 ppm silver were fire assayed with a gravimetric finish. One
in 20 samples was blank, one in 20 was a standard sample, and one
in 20 samples had a sample cut from assay rejects assayed as a
duplicate at ALS Chemex in North Vancouver, B.C. Half HQ core was
assayed and the remainder stored on-site.
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 |
Troy Shultz |
President &
CEO |
Manager, Investor
Relations & Corporate Communications |
Pretium Resources Inc.Suite 2300, Four Bentall Centre, 1055
Dunsmuir StreetPO Box 49334 Vancouver, BC V7X 1L4(604)
558-1784invest@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: production and cost guidance; our
planned mining, exploration and development activities; capital and
operating cost estimates; production and processing estimates; the
future price of gold and silver; the adequacy of our 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
and development; results of future exploration and drilling;
capital and operating cost estimates; timelines and similar
statements relating to the economic viability of the Brucejack
Mine, including mine life, total tonnes mined and processed and
mining operations; completion of ramp-up to steady state production
and positive cash flow; timing and receipt of approvals, consents
and permits under applicable legislation; our relationship with
community stakeholders; litigation matters; environmental matters;
and statements regarding USD cash flows currency fluctuations and
the recurrence of foreign currency translation adjustments.
Wherever possible, words such as “plans”, “expects”, “guidance”,
“projects”, “assumes”, “budget”, “strategy”, “scheduled”,
“estimates”, “forecasts”, “anticipates”, “believes”, “intends”,
“modeled’, “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 statements. Forward-looking
statements are 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
28, 2018 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 statements are 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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