Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm") is pleased
to report that drill results from its high-grade gold Brucejack
Project in northern British Columbia continue to confirm the
projection and continuity of high-grade mineralization in the
Valley of the Kings. (See Table 1 below for assays).
Selected highlights from the Valley of the Kings include:
-- Hole SU-316 intersected 1,855 grams of gold per tonne uncut over 0.54
meters (54 ounces gold per ton over 1.8 feet);
-- Hole SU-325 intersected 1,590 grams of gold per tonne uncut over 0.59
meters (46 ounces gold per ton over 1.9 feet).
The high-grade intercept (previously unreported) from hole
SU-316 was intersected 566 meters down-hole in an area of projected
Inferred mineral resources, and approximately 264 meters down-hole
from the previously reported SU-316 intercept of 9,110 grams of
gold per tonne uncut over 0.5 meters (see news release dated April
30, 2012). All assays for hole SU-316 have now been reported.
The high-grade intercept from hole SU-325, which occurred in a
longer interval grading 169.1 grams of gold per tonne uncut over
9.13 meters, was collared in the eastern area of the Valley of the
Kings in the vicinity of holes SU-230 and SU-237 from the 2011
drill program. Step-out holes SU-312 and SU-321 were drilled on the
eastern margin of the Valley of the Kings, and confirm the
high-grade mineralization is open down plunge to the east.
Hole SU-322 intersected 64.3 grams of gold per tonne over 5.7
meters, 30 meters up dip from the bonanza-grade intercept in hole
SU-115 grading 18,755 grams of gold per tonne over 0.6 meters,
confirming the projection of high-grade gold along trend.
Hole SU-314, which was drilled as a test of the extension of the
R8 Zone in the West Zone, encountered 27.2 grams of gold per tonne
over 20.57 meters, demonstrating the potential to add to West Zone
mineralization at depth.
Table 1: Selected Brucejack Project Drill Results, May 2012
(SU-311 to SU-325)(1,4)
----------------------------------------------------------------------------
Hole Collar Dip/ From To Interval Gold Silver Capp-
No. Coords. Azimuth (meters) (meters) (meters) (g/t) (g/t) ing(2)
----------------------------------------------------------------------------
VALLEY OF THE KINGS
----------------------------------------------------------------------------
SU-311 6257885N -45/360
426575E 389.5 392.5 3.0 10.68 244.0
----------------------------------------------------------------------------
403.0 406.0 3.0 11.83 13.40
----------------------------------------------------------------------------
SU-312 6257849N -65/360
426683E 320.5 342.5 22.0 15.46 39.65
----------------------------------------------------------------------------
incl 339.5 342.5 3.0 96.72 50.75
----------------------------------------------------------------------------
SU-313 6258045N -55/180
426680E 217.12 217.63 0.51 189.5 62.60
----------------------------------------------------------------------------
307.5 309 1.5 11.60 733.0
----------------------------------------------------------------------------
SU-315 6257885N -65/360
426575E 260.5 262.0 1.5 727.0 411.0
----------------------------------------------------------------------------
316.0 329.5 13.5 39.29 35.52
----------------------------------------------------------------------------
incl 325.0 326.5 1.5 311.0 247.0
----------------------------------------------------------------------------
SU-316 6257930N -75/30 2 Gold
samples
(3) 426473E 302.62 326.75 24.13 29.71 119.66 cut
----------------------------------------------------------------------------
or 302.62 326.75 24.13 225.85 119.66 Uncut
----------------------------------------------------------------------------
incl 302.62 303.12 0.5 9,110 4,030 Uncut
----------------------------------------------------------------------------
incl 325.95 326.75 0.8 1,035 781 Uncut
----------------------------------------------------------------------------
430.28 446.62 16.34 11.35 11.00
----------------------------------------------------------------------------
incl 430.28 430.86 0.58 141.0 85.00
----------------------------------------------------------------------------
522.34 522.94 0.6 53.00 17.30
----------------------------------------------------------------------------
566.21 566.75 0.54 1,855 586.0 Uncut
----------------------------------------------------------------------------
SU-317 6258105N -50/180
426475E 211.5 221 9.5 35.55 22.34
----------------------------------------------------------------------------
incl 218.0 221.0 3.0 93.20 45.10
----------------------------------------------------------------------------
SU-318 6257857N -70/270
(3) 426500E 29.5 36.75 7.25 3.06 45.14
----------------------------------------------------------------------------
1 Gold
sample
61.41 71.0 9.59 42.38 68.58 cut
----------------------------------------------------------------------------
61.41 71.0 9.59 114.64 68.58 Uncut
----------------------------------------------------------------------------
incl 61.41 62.11 0.7 1,490 856 Uncut
----------------------------------------------------------------------------
261.0 262.5 1.5 47.8 67.0
----------------------------------------------------------------------------
297.5 299.0 1.5 21.7 9.8
----------------------------------------------------------------------------
SU-319 6258090N -45/180
426612E 174.08 177.4 3.32 25.52 28.61
----------------------------------------------------------------------------
incl 176.75 177.4 0.65 120.00 60.4
----------------------------------------------------------------------------
SU-320 6257900N -45/0
(3) 426550E 9.56 20.82 11.26 14.88 32.87
----------------------------------------------------------------------------
incl 9.56 10.06 0.5 305.0 239.0
----------------------------------------------------------------------------
134 135.5 1.5 29.60 8.8
----------------------------------------------------------------------------
422.5 424.0 1.5 97.7 42.2
----------------------------------------------------------------------------
SU-321 6258100N -45/180
426705E 161.5 169.0 7.5 12.28 10.94
----------------------------------------------------------------------------
incl 161.5 163.0 1.5 52.1 25.0
----------------------------------------------------------------------------
399.47 405.5 6.03 7.52 22.81
----------------------------------------------------------------------------
SU-322 6257975N -45/180
426450E 25.88 31.55 5.67 64.31 67.60
----------------------------------------------------------------------------
incl 25.88 27.58 1.7 37.56 31.22
----------------------------------------------------------------------------
incl 30.97 31.55 0.58 514.0 528.0
----------------------------------------------------------------------------
SU-324 6258165N -50/180
426475E 264.0 268.5 4.5 10.33 9.97
----------------------------------------------------------------------------
SU-325 6258090N -55/180
426612 15.36 16.53 1.17 31.40 757.0
----------------------------------------------------------------------------
2 Gold
samples
215.5 224.63 9.13 96.56 93.11 cut
----------------------------------------------------------------------------
215.5 224.63 9.13 169.1 93.11 Uncut
----------------------------------------------------------------------------
incl 217.94 218.2 0.26 574.0 232.0 Uncut
----------------------------------------------------------------------------
incl 224.04 224.63 0.59 1,590 744.0 Uncut
----------------------------------------------------------------------------
286.0 290.5 4.5 14.84 11.30
----------------------------------------------------------------------------
395.15 395.65 0.5 124.5 62.00
----------------------------------------------------------------------------
WEST ZONE
----------------------------------------------------------------------------
SU-314 6258863N -75/135
426677E 289.5 310.07 20.57 27.18 398.71
----------------------------------------------------------------------------
incl 299.0 302.0 3.0 85.45 854.50
----------------------------------------------------------------------------
incl 306.5 309.0 2.5 104.12 1,049.20
----------------------------------------------------------------------------
(1) True thickness to be determined.
(2) Unless otherwise indicated as uncut, all gold assays over 500 g/t were
cut to 500 g/t.
(3) Previously reported: Hole SU-316 intervals 302.62 to 326.75; Hole SU-
318 intervals 29.5 to 62.11 and Hole SU-320 intervals 9.56 to 135.5.
(4) 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. Samples over 100 ppm silver were
reanalyzed using four acid digestion with an ore grade AA finish.
Samples over 1,000 ppm silver were fire assayed with a gravimetric
finish. Samples with over 10 ppm gold were fire assayed with a
gravimetric finish. One in 10 samples was blank, one in 20 was a
standard sample, and differing one in 20 samples was a field duplicate
one-quarter split core assayed at ALS Chemex in Vancouver, B.C.
Assay results for completed drilling will be reported as they
are received over the course of the 2012 drilling season.
Kenneth C. McNaughton, M.A.Sc., P.Eng., Chief Exploration
Officer, Pretium Resources Inc. is the Qualified Person (QP)
responsible for the Brucejack Project exploration program.
About Pretivm
Pretivm is creating value through gold at its advanced-staged
exploration projects Brucejack and Snowfield, located in northern
British Columbia. Pretivm is advancing the high-grade, underground
gold opportunity at Brucejack, which hosts a significant
undeveloped high-grade gold resource.
Forward-Looking Statements
This Press Release contains "forward-looking information" and
"forward-looking statements" within the meaning of applicable
Canadian and United States securities legislation. Forward-looking
information may include, but is not limited to, risks related to
unsatisfactory results of due diligence, the ability to satisfy the
conditions of closing of Offering and general economic conditions,
our planned exploration and development activities, the adequacy of
Pretivm's financial resources, the estimation of mineral resources,
realization of mineral resource estimates, timing of development of
Pretivm's Brucejack Project, 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 Project, timing and receipt of approvals, consents
and permits under applicable legislation, Pretivm's executive
compensation approach and practice, and adequacy of financial
resources. Wherever possible, words such as "plans", "expects",
"projects", "assumes", "budget", "strategy", "scheduled",
"estimates", "forecasts", "anticipates", "believes", "intends" 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 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 prospectus supplement to the short
form base shelf prospectus dated March 19, 2012 filed on SEDAR at
www.sedar.com and in the United States 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.
Contacts: Pretium Resources Inc. Robert Quartermain President
and Chief Executive Officer (604)558-1784 Pretium Resources Inc.
Michelle Romero Corporate Relations Director
(604)558-1784invest@pretivm.com www.pretivm.com
Pretium Resources (TSX:PVG)
Historical Stock Chart
From Jun 2024 to Jul 2024
Pretium Resources (TSX:PVG)
Historical Stock Chart
From Jul 2023 to Jul 2024
