Pretivm to Receive PDAC Discovery Award for Valley of the Kings
December 11 2012 - 4:05PM
Marketwired
Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm") is very
pleased to report that it has been selected to receive the Bill
Dennis Award from the Prospectors & Developers Association of
Canada ("PDAC") for advancing the Valley of the Kings at its
high-grade gold Brucejack Project in northwest British Columbia.
The 2013 PDAC Bill Dennis Award, which recognizes a Canadian
discovery or prospecting success, will be awarded to Pretivm at the
PDAC Annual Awards banquet on March 4, 2013 during the PDAC
convention in Toronto.
The high-grade gold potential of Brucejack's Valley of the Kings
was first discovered in 2009 with a drill hole that intersected
16,949 grams per tonne gold uncut over 1.5 meters. Pretivm began
advancing the Valley of the Kings in 2011 and has drilled a total
of 174,182 meters to date, with results from the Valley of the
Kings continuously delivering significant high-grade gold
intercepts, including visible gold.
High-grade gold resources (5.0 grams of gold equivalent per
tonne cut-off) for the Valley of the Kings now total 8.5 million
ounces of gold in the Indicated Mineral Resource category (16.1
tonnes grading 16.4 grams of gold per tonne) and 2.9 million ounces
of gold in the Inferred Mineral Resource category (5.4 million
tonnes grading 17.0 grams of gold per tonne). The Valley of the
Kings remains open to the east and west along strike and at
depth.
"We are honoured to receive the award from our peers, and thank
PDAC for this recognition," commented Pretivm's CEO Robert
Quartermain. "We have at Pretivm a dedicated team who are excited
about the further potential for discovery at Brucejack, and the
plans to advance the Valley of the Kings in the coming year.
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 Statement
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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