Pretium Resources Inc.: Valley of the Kings Bulk Sample Update
June 19 2013 - 5:00AM
Marketwired
Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm") is pleased
to provide an update on the progress of the Bulk Sample Program
underway at the Brucejack Project's Valley of the Kings.
The Program's underground development advance is well underway,
with all infrastructure now in place and the excavation of
development drifts and cross-cuts on schedule. Visible gold has
been encountered in areas of the wall rock along the 426600E
cross-cut and the 6258015N drill drift.
For a current plan of the development advance of the Bulk Sample
Program at the Valley of the Kings with a drill fan cross section
please visit the following link:
http://media3.marketwire.com/docs/pvg0619fig1.pdf.
The sample tower has been commissioned with material excavated
from the development advance, and is prepared to receive material
from the 10,000-tonne bulk sample excavation, which is scheduled to
commence next week. The Bulk Sample Program excavation and sampling
is expected to be completed in late July or early August.
Also underway is the 15,000-meter underground drill program,
with two drills working and a third expected in a week. The drill
program is expected to be completed by mid-August.
Strathcona Mineral Services Ltd. of Toronto has been engaged as
the independent Qualified Person to oversee and report on the
Valley of the Kings Bulk Sample Program.
Assay results from underground drilling will be reported as they
are received. Strathcona's report on the Bulk Sample Program is
expected later in the year after compilation of all data.
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. Ian I
Chang, M.A.Sc., P.Eng., Vice President, Project Development,
Pretium Resources Inc. is the Qualified Person (QP) responsible for
Brucejack Project development.
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, with Probable
Mineral Reserves in the Valley of the Kings totalling 6.6 million
ounces of gold (15.1 million tonnes grading 13.6 grams of gold per
tonne). Brucejack is being advanced as a high-grade underground
mine with an average of 426,000 ounces of gold produced annually
for the first 10 years and an average of 321,500 million ounces of
gold produced annually over the Project's 22-year mine life.
Commercial production is targeted to commence in 2016.
(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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