Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm") is pleased
to report that drilling in Brucejack's Valley of the Kings
continues to confirm the projection and continuity of high-grade
gold, with numerous intervals grading over 1 kilogram per tonne
gold. (See Table 1 below for assays.)
Selected highlights from the Valley of the Kings include:
-- Hole SU-542 intersected:
-- 2,258 grams of gold per tonne uncut over 2.30 meters (65.9 ounces of
gold per ton over 7.55 feet) and
-- 8,912 grams of gold per tonne uncut over 0.50 meters (259.9 ounces
of gold per ton over 1.64 feet);
-- Hole SU-548 intersected:
-- 3,450 grams of gold per tonne uncut over 0.50 meters (100.6 ounces
of gold per ton over 1.64 feet) and
-- 1,105 grams of gold per tonne uncut over 0.50 meters (32.2 ounces of
gold per ton over 1.64 feet);
-- Hole SU-535 intersected:
-- 2,410 grams of gold per tonne uncut over 0.50 meters (70.3 ounces of
gold per ton over 1.64 feet) and
-- 1,695 grams of gold per tonne uncut over 0.60 meters (49.4 ounces of
gold per ton over 1.97 feet).
The two bonanza-grade gold intercepts noted above from hole
SU-542, which was collared on section 426300E, are located 120
meters deeper and 12.5 meters east of the bonanza-grade gold
interval from SU-493 grading 1,751 grams per tonne gold uncut over
1.2 meters, and approximately two meters east of the interval from
hole SU-340 grading 150 grams per tonne gold over 1.0 meter.
Additionally, hole SU-542 encountered two exceptionally high-grade
intervals near surface: an interval grading 1,780 grams per tonne
gold uncut over 0.5 meters at a downhole depth of 16.0 meters, and
an interval grading 2,420 grams per tonne gold uncut over 0.5
meters at a downhole depth of 20.8 meters.
Hole SU-535, which was collared on section 426325E, intercepted
a total of 10 separate gold intervals grading over 12 grams per
tonne gold, with six grading over 100 grams per tonne gold, from a
downhole depth of approximately 12.5 meters to a downhole depth of
501.6 meters. The two bonanza intercepts noted above are located 35
meters southeast of the near-surface intercepts from SU-542.
The Valley of the Kings now extends over 800 meters in strike
length and is open to the east, west, and at depth. A plan of the
Valley of the Kings highlighting the location of the holes noted
above is located at
http://media3.marketwire.com/docs/pvg310-F1.pdf.
The 2012 Brucejack Exploration Program is nearing conclusion,
and the final assays will be reported when they are received. The
assays for all holes after SU-466 will be incorporated in the final
2012 Mineral Resource estimate for the Brucejack Project expected
later in the fourth quarter of 2012 or in the first quarter of
2013.
Table 1: Selected Brucejack Project Drill Results, October 2012 (SU-531 to
SU-555)(1,3)
----------------------------------------------------------------------------
Inter-
Hole Collar Dip/ From To val Gold Silver Capping
No. Coords. Azimuth (meters) (meters)(meters) (g/t) (g/t) (2)
----------------------------------------------------------------------------
VALLEY OF THE KINGS
----------------------------------------------------------------------------
SU- 6258171N
531 426575E -48/177 124.78 125.28 0.50 45.70 22.90
----------------------------------------------------------------------------
275.17 280.97 5.80 35.45 41.25
----------------------------------------------------------------------------
incl 275.17 275.67 0.50 368.00 205.00
----------------------------------------------------------------------------
incl 280.47 280.97 0.50 16.10 13.00
----------------------------------------------------------------------------
SU- 6258306N
533 426575E -50/178 415.00 416.50 1.50 8.75 4.40
----------------------------------------------------------------------------
488.66 489.16 0.50 25.10 20.60
----------------------------------------------------------------------------
SU- 6257895N
534 426225E -50/355 125.50 127.00 1.50 7.03 7.30
----------------------------------------------------------------------------
SU- 1 Au
535 6257801N sample
426325E -55/358 12.45 17.50 5.05 42.03 31.19 cut
----------------------------------------------------------------------------
or 12.45 17.50 5.05 243.02 31.19 Uncut
----------------------------------------------------------------------------
incl 12.45 12.95 0.50 2,410 265.00 Uncut
----------------------------------------------------------------------------
16.00 17.50 1.50 12.90 13.20
----------------------------------------------------------------------------
37.21 37.81 0.60 1,695 119.00 Uncut
----------------------------------------------------------------------------
300.50 302.00 1.50 122.50 46.70
----------------------------------------------------------------------------
347.08 347.58 0.50 690.00 351.00 Uncut
----------------------------------------------------------------------------
427.00 434.50 7.50 12.30 10.79
----------------------------------------------------------------------------
incl 427.00 428.50 1.50 47.40 21.60
----------------------------------------------------------------------------
501.11 501.61 0.50 417.00 262.00 Uncut
----------------------------------------------------------------------------
SU- 6258292N
536 426550E -48/178 360.43 360.93 0.50 67.90 28.00
----------------------------------------------------------------------------
380.00 381.50 1.50 13.90 59.40
----------------------------------------------------------------------------
439.07 442.50 3.43 17.95 12.84
----------------------------------------------------------------------------
439.07 439.57 0.50 108.00 50.70
----------------------------------------------------------------------------
SU- 6258212N
537 426622E -48/178 187.26 208.95 21.69 30.07 25.81
----------------------------------------------------------------------------
incl 187.26 187.76 0.50 377.00 222.00
----------------------------------------------------------------------------
incl 191.47 191.97 0.50 33.30 32.80
----------------------------------------------------------------------------
incl 193.55 194.16 0.61 55.80 33.60
----------------------------------------------------------------------------
incl 198.71 199.21 0.50 198.00 91.10
----------------------------------------------------------------------------
incl 199.21 199.71 0.50 193.50 91.20
----------------------------------------------------------------------------
208.45 208.95 0.50 338.00 127.00
----------------------------------------------------------------------------
361.60 362.36 0.76 35.50 23.70
----------------------------------------------------------------------------
SU- 6258096N
538 427000E -54/178 145.00 146.50 1.50 9.88 0.60
----------------------------------------------------------------------------
SU- 6258192N
539 426487E -45/178 225.50 227.00 1.50 14.30 17.10
----------------------------------------------------------------------------
341.21 341.71 0.50 953.00 146.00 Uncut
----------------------------------------------------------------------------
377.91 381.00 3.09 19.85 16.78
----------------------------------------------------------------------------
incl 377.91 378.41 0.50 99.90 45.90
----------------------------------------------------------------------------
508.74 509.24 0.50 251.00 198.00
----------------------------------------------------------------------------
SU- 6258228N
540 426778E -50/178 94.50 96.00 1.50 8.63 50.20
----------------------------------------------------------------------------
390.36 392.86 2.50 9.44 324.96
----------------------------------------------------------------------------
incl 390.36 390.86 0.50 21.60 1,040.00
----------------------------------------------------------------------------
397.00 398.50 1.50 13.00 10.80
----------------------------------------------------------------------------
SU- 6257660N
541 426625E -55/358 19.00 25.29 6.29 8.70 9.89
----------------------------------------------------------------------------
incl 19.00 20.50 1.50 27.30 27.00
----------------------------------------------------------------------------
incl 24.79 25.29 0.50 21.10 8.40
----------------------------------------------------------------------------
214.00 215.50 1.50 42.60 19.00
----------------------------------------------------------------------------
526.00 527.50 1.50 29.60 12.20
----------------------------------------------------------------------------
SU- 2 Au
542 6257831N samples
426300E -60/358 16.00 21.32 5.32 72.08 307.28 cut
----------------------------------------------------------------------------
or 16.00 21.32 5.32 395.39 307.28 Uncut
----------------------------------------------------------------------------
incl 16.00 16.50 0.50 1,780 1,365 Uncut
----------------------------------------------------------------------------
incl 20.82 21.32 0.50 2,420 1,890 Uncut
----------------------------------------------------------------------------
121.84 122.34 0.50 31.00 172.00
----------------------------------------------------------------------------
141.14 141.64 0.50 20.20 773.00
----------------------------------------------------------------------------
1 Au
sample
269.86 272.16 2.30 179.01 391.48 cut
----------------------------------------------------------------------------
or 269.86 272.16 2.30 2,258 391.48 Uncut
----------------------------------------------------------------------------
incl 271.09 271.66 0.57 1,285 602.00 Uncut
----------------------------------------------------------------------------
incl 271.66 272.16 0.50 8,912 1,070 Uncut
----------------------------------------------------------------------------
SU- 2 Au
543 6258116N samples
427103E -45/177 351.73 352.23 0.50 30.30 13.60 cut
----------------------------------------------------------------------------
SU- 6258262N
544 426777E -50/177 20.76 25.00 4.24 41.38 39.04
----------------------------------------------------------------------------
incl 22.97 23.47 0.50 263.00 137.00
----------------------------------------------------------------------------
174.37 174.87 0.50 244.00 262.00
----------------------------------------------------------------------------
SU- 6257912N
545 426287E -60/358 416.66 423.00 6.34 3.64 176.66
----------------------------------------------------------------------------
SU- 6258191N
546 426550E -48/178 41.26 42.26 1.00 28.05 25.80
----------------------------------------------------------------------------
319.50 321.00 1.50 8.66 5.60
----------------------------------------------------------------------------
366.78 367.31 0.53 78.00 50.90
----------------------------------------------------------------------------
SU- 6258306N
547 426575E -58/178 427.50 429.00 1.50 45.00 7.10
----------------------------------------------------------------------------
SU- 6257848N
548 426287E -60/357 226.50 232.50 6.00 6.11 5.18
----------------------------------------------------------------------------
2 Au
samples
290.50 309.50 19.00 31.24 65.88 cut
----------------------------------------------------------------------------
or 290.50 309.50 19.00 131.11 65.88 Uncut
----------------------------------------------------------------------------
incl 290.50 291.23 0.73 264.00 157.00
----------------------------------------------------------------------------
incl 291.23 291.73 0.50 3,450 1,550 Uncut
----------------------------------------------------------------------------
incl 305.62 306.12 0.50 1,105 635.00 Uncut
----------------------------------------------------------------------------
SU- 6258235N
549 426475E -53/178 15.00 16.25 1.25 9.98 10.50
----------------------------------------------------------------------------
83.50 85.45 1.95 12.75 12.10
----------------------------------------------------------------------------
379.50 384.00 4.50 11.94 12.33
----------------------------------------------------------------------------
incl 382.50 384.00 1.50 26.50 15.10
----------------------------------------------------------------------------
SU- 6258177N
552 426525E -47/178 209.40 220.98 11.58 13.79 10.04
----------------------------------------------------------------------------
209.40 209.90 0.50 153.50 89.80
----------------------------------------------------------------------------
220.38 220.98 0.60 133.00 71.20
----------------------------------------------------------------------------
SU- 6258119N
553 426950E -45/178 332.02 334.86 2.84 11.63 628.10
----------------------------------------------------------------------------
332.96 333.75 0.79 24.20 1,665
----------------------------------------------------------------------------
384.20 385.55 1.35 7.20 619.00
----------------------------------------------------------------------------
SU- 6258256N
554 426750E -51/178 36.00 37.50 1.50 5.18 177.00
----------------------------------------------------------------------------
45.45 47.00 1.55 52.90 535.00
----------------------------------------------------------------------------
SU- 6258270N
555 426825E -45/178 69.00 73.00 4.00 17.71 137.84
----------------------------------------------------------------------------
incl 69.00 70.50 1.50 17.45 267.00
----------------------------------------------------------------------------
incl 72.50 73.00 0.50 70.30 74.50
----------------------------------------------------------------------------
197.45 199.00 1.55 14.45 48.10
----------------------------------------------------------------------------
WEST ZONE
----------------------------------------------------------------------------
SU- 6258960N
532 426750E -55/178 430.25 430.75 0.50 1.07 1,270
----------------------------------------------------------------------------
(1) True thickness to be determined.
(2) Unless otherwise indicated as uncut, all gold assays over 380 g/t were
cut to 380 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 and fire assay with AA finish for gold. 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. Samples with over 10 ppm gold were fire assayed with a
gravimetric finish. One in 20 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.
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 high-grade gold
Brucejack Project, located in northern British Columbia. Brucejack
hosts a major undeveloped high-grade gold resource and
mineralization remains open in all directions. A feasibility study
for a high-grade underground mine in Brucejack's Valley of the
Kings is underway and expected in the second quarter of 2013.
(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. Forward-looking
information may include, but is not limited to, risks related to
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.
The TSX has neither approved nor 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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