Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm") is pleased
to report more exceptionally high-grade results as phase two
high-definition drilling continues in Brucejack's Valley of the
Kings. (See Table 1 below for assays.)
Selected highlights from the Valley of the Kings include:
-- Hole SU-407 intersected 11,067 grams of gold per tonne uncut over 0.5
meters (323 ounces gold per ton over 1.6 feet); and
-- Hole SU-393 intersected 3,440 grams of gold per tonne uncut over 0.5
meters (100 ounces gold per ton over 1.6 feet); and
-- Hole SU-421 intersected 1,335 grams of gold per tonne uncut over 0.5
meters (39 ounces gold per ton over 1.6 feet).
The bonanza-grade intercept from hole SU-407 noted above was
intersected approximately 12 meters from surface, and approximately
53 meters southwest from the bonanza-grade intersection in hole
SU-115 grading 18,755 grams per tonne gold uncut over 0.6 meters.
The intercept from Hole SU-393, drilled in the heart of the Valley
of the Kings, was intersected 25 meters west of the intersection in
hole SU-376 grading 6,142 grams per tonne gold uncut over 0.65
meters. The intercept from hole SU-421 was intersected 19 meters
east of the intersection in hole SU-230 grading 7,420 grams per
tonne gold uncut over 1.0 meter.
Drilling in the West Zone continues to expand mineralization
down dip, with hole SU-403 intersecting 22.3 grams per tonne gold
and 946.6 grams per tonne silver over 5.87 meters.
The updated Brucejack high-grade Mineral Resource estimate to be
used as the basis for feasibility study mine planning will
incorporate phase two drilling data in addition to the results of
phase one in-fill drilling conducted earlier this Spring. The
updated high-grade Mineral Resource estimate is expected in the
third quarter.
Table 1: Selected Brucejack Project Drill Results, July 2012
(SU-379 to SU-430)(1,3)
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Hole Collar Dip/ From To Interval Gold Silver Capping
No. Coords. Azimuth (meters) (meters) (meters) (g/t) (g/t) (2)
----------------------------------------------------------------------------
VALLEY OF THE KINGS
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SU- 6258055N -50/0 218.31 220.0 1.69 17.00 40.20
379 426470E
----------------------------------------------------------------------------
SU- 6257935N -50/358 49.6 50.2 0.6 142.50 28.70
386 426350E
----------------------------------------------------------------------------
200.5 202.0 1.5 61.70 25.30
----------------------------------------------------------------------------
SU- 6257765N -55/355 308.5 310.0 1.5 62.20 35.60
387 426775E
----------------------------------------------------------------------------
SU- 6257981N -45/178 20.0 26.0 6.0 15.80 31.12
390 426437E
----------------------------------------------------------------------------
incl 23.9 24.4 0.5 167.00 62.10
----------------------------------------------------------------------------
SU- 6258090N -55/180 346.0 348.5 2.5 31.26 28.42
392 426730E
----------------------------------------------------------------------------
incl 346.0 347.0 1.0 64.60 46.00
----------------------------------------------------------------------------
SU- 6257895N -50/358 76.02 76.52 0.5 3,440 788.0
393 426362E
----------------------------------------------------------------------------
200.0 201.5 1.5 8.14 17.90
----------------------------------------------------------------------------
SU- 6258010N -45/178 79.02 79.71 0.69 174.50 74.40
394 426487E
----------------------------------------------------------------------------
SU- 6258143N -47/176 67.67 72.0 4.33 8.29 99.98
396 426700E
----------------------------------------------------------------------------
227.0 231.0 4.0 6.92 16.54
----------------------------------------------------------------------------
SU- 6257870N -60/358 216.67 217.17 0.5 30.80 22.70
398 426650E
----------------------------------------------------------------------------
222.86 223.34 0.48 13.85 5.70
----------------------------------------------------------------------------
SU- 6257870N -65/358 222.47 227.31 4.84 66.74 40.29
405 426650E
----------------------------------------------------------------------------
SU- 6257850N -55/358 19.5 21.0 1.5 36.20 32.50
406 426600E
----------------------------------------------------------------------------
207.0 208.5 1.5 16.10 10.70
----------------------------------------------------------------------------
347.50 352.00 4.50 17.40 18.43
----------------------------------------------------------------------------
inc 350.5 352.0 1.5 36.50 40.90
----------------------------------------------------------------------------
SU- 6258010N -50/178 5.50 14.00 8.50 32.77 235.67 1 Gold
407 426475E sample
cut
----------------------------------------------------------------------------
or 5.50 14.00 8.50 654.33 235.67 Uncut
----------------------------------------------------------------------------
incl 12.04 12.54 0.5 11,067 3,230 Uncut
----------------------------------------------------------------------------
SU- 6257955N -50/358 24.1 24.6 0.5 720.00 293.00
408 426300E
----------------------------------------------------------------------------
63.25 63.75 0.5 49.80 21.20
----------------------------------------------------------------------------
76.50 77.53 1.03 16.15 39.10
----------------------------------------------------------------------------
SU- 6257870N -70/358 200.57 201.07 0.50 19.75 16.00
411 426650E
----------------------------------------------------------------------------
250.5 252.0 1.5 20.30 22.10
----------------------------------------------------------------------------
SU- 6257850N -60/357 238.00 245.97 7.97 6.22 4.91
418 426600E
----------------------------------------------------------------------------
268.50 270.00 1.50 15.00 9.80
----------------------------------------------------------------------------
313.00 314.50 1.50 21.10 17.40
----------------------------------------------------------------------------
SU- 6257940N -50/358 78.0 79.5 1.5 67.80 26.00
419 426300E
----------------------------------------------------------------------------
SU- 6258030N -50/178 70.5 72.0 1.5 17.85 90.30
420 426500E
----------------------------------------------------------------------------
SU- 6257850N -65/178 82.58 83.08 0.50 1,335 4,000 Uncut
421 426662E
----------------------------------------------------------------------------
268.90 277.60 8.70 105.43 26.47 1 Gold
sample
cut
----------------------------------------------------------------------------
or 268.90 277.60 8.70 152.50 26.47 Uncut
----------------------------------------------------------------------------
incl 268.9 269.4 0.5 37.70 9.40
----------------------------------------------------------------------------
incl 272.14 272.64 0.50 136.00 56.10
----------------------------------------------------------------------------
incl 274.32 275.82 1.5 773.00 100.00
----------------------------------------------------------------------------
incl 277.10 277.60 0.50 91.90 41.90
----------------------------------------------------------------------------
321.1 321.6 0.5 16.25 46.70
----------------------------------------------------------------------------
SU- 6258060N -50/178 83.00 84.50 1.50 6.41 55.20
422 426412E
----------------------------------------------------------------------------
SU- 6257990N -45/358 75.00 77.00 2.00 9.54 4.70
423 426325E
----------------------------------------------------------------------------
121.0 122.69 1.69 38.10 46.30
----------------------------------------------------------------------------
SU- 6257950N -65/358 78.0 79.5 1.5 6.10 7.10
426 426325E
----------------------------------------------------------------------------
SU- 9257935N -65/358 169.0 170.5 1.5 15.20 26.10
428 426325E
----------------------------------------------------------------------------
SU- 6258065N -50/178 134.00 141.50 7.50 80.65 53.52
430 426500E
----------------------------------------------------------------------------
incl 134.0 135.5 1.5 86.90 36.90
----------------------------------------------------------------------------
incl 135.5 137 1.5 58.40 89.70
----------------------------------------------------------------------------
incl 137.0 138.5 1.5 236.00 125.00
----------------------------------------------------------------------------
West Zone
----------------------------------------------------------------------------
SU- 6258940N -73/180 345.0 348.0 3.0 6.92 241.50
395 426600E
----------------------------------------------------------------------------
382.94 383.45 0.51 160.50 50.00
----------------------------------------------------------------------------
395.5 398.5 3.0 11.79 9.15
----------------------------------------------------------------------------
SU- 6258940N -67/180 263.5 269.0 5.5 0.77 422.03
403 426600E
----------------------------------------------------------------------------
301.13 307.0 5.87 22.28 946.61
----------------------------------------------------------------------------
incl 302.5 304.0 1.5 47.50 312.00
----------------------------------------------------------------------------
364.8 365.3 0.5 52.30 24.80
----------------------------------------------------------------------------
426.59 427.09 0.5 26.40 8.4
----------------------------------------------------------------------------
SU- 6258940N -80/180 131.86 139.5 7.64 4.79 21.33
415 426600E
----------------------------------------------------------------------------
201.96 202.49 0.53 253.00 103.00
----------------------------------------------------------------------------
378.00 384.00 6.00 4.32 343.67
----------------------------------------------------------------------------
Gossan Hill
----------------------------------------------------------------------------
SU- 6258940N -42/360 142.5 144.0 1.5 16.50 12.30
380 426600E
----------------------------------------------------------------------------
SU- 6258940N -55/360 186.41 187.17 0.76 15.95 7.50
388 426600E
----------------------------------------------------------------------------
SU- 6258940N -65/360 108.69 120.00 11.31 7.35 22.97
427 426600E
----------------------------------------------------------------------------
incl 108.69 109.19 0.50 85.50 33.30
----------------------------------------------------------------------------
(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)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.
To date, a total of 55,100 meters of drilling in 180 holes
including geotechnical and condemnation holes has been completed
for both phase one and phase two of the 2012 Brucejack Exploration
Program.
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
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