Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm") is pleased
to report additional underground drill results from the Valley of
the Kings Bulk Sample Program (the "Program") currently underway,
as well as additional exploration drilling in the Valley of the
Kings extending beyond the area of the Program. Assays from both
Program and non-Program exploration underground drilling continue
to confirm the projection of high-grade gold mineralized domains,
with numerous intersections encountering gold grading over 1,000
grams per tonne. (See Table 1 below for assays.)
Selected drill highlights include:
-- Hole VU-201 (Exploration hole) intersected 6,550 grams of gold uncut
over 0.50 meters;
-- Hole VU-219 (Program hole) intersected 698 grams of gold uncut over 2.97
meters including 2,340 grams of gold uncut over 0.50 meters and 1,805
grams of gold uncut over 0.50 meters;
-- Hole VU-221 (Program hole) intersected 66 grams of gold uncut over 13.00
meters including 1,675 grams of gold uncut over 0.50 meters;
-- Hole VU-239 (Exploration hole partially intersecting Cleopatra Vein)
intersected 195 grams of gold per tonne uncut over 9.29 meters including
2,140 grams of gold uncut over 0.50 meters and 1,425 grams of gold uncut
over 0.50 meters.
Seven high-grade gold intersections in the latest results exceed
1,000 grams per tonne, including one intersection of the Cleopatra
Vein (the 2,140 grams per tonne gold intersection uncut from hole
VU-239 noted above). Hole VU-201 noted above was drilled as an
exploration hole from the 426622.5E drill bay to the north.
Bulk Sample Program
Assay results have been received and reported for 15 of the 17
planned drill fans. A total of 186 drill holes have now been
completed or in progress comprising approximately 15,418 meters.
Approximately 16,500 meters of underground drilling in 202 holes
will be completed as part of the Program, which is expected to
conclude in September. The final fan of the underground drilling
included in the Program is in progress and expected to be completed
this month.
For cross sections and plan views of the currently reported
drilling please visit the following link -
http://media3.marketwire.com/docs/pvg923_F1-4.pdf.
The 10,000 tonnes of bulk sample material has been transported
offsite. Approximately 6,000 tonnes of bulk sample material will
have arrived at the mill by the end of this week with the remaining
material scheduled to arrive by the end of October. Milling of the
bulk sample material will commence later this week.
Strathcona Mineral Services Ltd. ("Strathcona") has been engaged
as the independent Qualified Person to oversee and report on the
10,000-tonne bulk sample for the Program.
The 1345-meter level, centered at the 426600E cross-section of
the Valley of the Kings, was selected as the bulk sample location
based on Strathcona's requirements that the bulk sample be
excavated from an area representative of the (a) drillhole density
that informs the Indicated Mineral Resource, (b) average grade of
the Indicated Mineral Resource and the global resource for the
Valley of the Kings, (c) proportion of low-grade, high-grade and
extreme grade populations in the overall Indicated Mineral Resource
and (d) style of stockwork gold mineralization characteristic of
the Valley of the Kings.
Additional Underground and Surface Exploration
Excavation of a drift along the recently-discovered high-grade
Cleopatra Vein in the Valley of the Kings has been completed, with
two raises on Cleopatra underway. Cleopatra has been defined for
approximately 85 meters along strike, 50 meters above the
1345-meter level, 50 meters below the 1345-level and remains open
in all directions. Additional drifting and cross-cutting has been
completed in two areas: to the west of the bulk sample location,
and to the north and east on Domain 20. Planning is underway for
additional drifting.
Underground exploration drilling is currently testing high-grade
mineralization to the west, east and below the bulk sample
location. Approximately 13,500 meters of underground exploration
drilling is expected to be completed in addition to the 16,500
meters of drilling included in the Program, with approximately
12,000 meters of underground exploration drilling completed to
date.
The surface drill program at the Valley of the Kings is underway
with two drills on-site and targeting high-grade mineralization in
the Valley of the Kings to the east of the bulk sample location. A
total of 5,000 meters is currently planned for the surface drill
program.
Program Reporting
Assay results for completed fans from the underground drilling
will be reported as they are received. Due to the projected time to
complete assaying of the samples from the sample tower,
Strathcona's report on the Program is now expected early in 2014
after compilation of all data. The amount of gold and silver
produced by the mill will be reported as milling of the bulk sample
progresses.
Feasibility Study Update
The Brucejack Project Feasibility Study (see news release dated
June 11, 2013), and associated mine plan and Mineral Reserves, will
be updated following the completion of an updated Mineral Resource
estimate for the Valley of the Kings. The updated Mineral Resource
estimate for the Valley of the Kings will incorporate all 2013
underground and surface drilling and will be prepared following
receipt of all assays for the 2013 drill program.
Table 1: Valley of the Kings Drill Results, September 2013 (VU-201 to VU-
249)(1,2,3)
----------------------------------------------------------------------------
Hole Dip/ From To Interval Gold Silver Capping
No. Azimuth (meters) (meters) (meters) (g/t) (g/t)
----------------------------------------------------------------------------
Bulk Sample Drill Fan Section 426546.75E (360 Azimuth)
----------------------------------------------------------------------------
VU-209 64/360 42.00 52.50 10.50 1.65 5.80
----------------------------------------------------------------------------
VU-210 53/360 6.85 22.08 15.23 14.34 13.29
----------------------------------------------------------------------------
15.63 16.13 0.50 395.00 215.00
----------------------------------------------------------------------------
VU-212 45/360 8.00 11.15 3.15 9.34 9.47
----------------------------------------------------------------------------
VU-215 34/360 24.00 27.10 3.10 6.29 9.03
----------------------------------------------------------------------------
incl 24.60 25.20 0.60 20.30 12.30
----------------------------------------------------------------------------
53.55 54.05 0.50 16.85 6.60
----------------------------------------------------------------------------
VU-216 18/360 9.00 16.60 7.60 6.16 45.74
----------------------------------------------------------------------------
incl 16.10 16.60 0.50 66.90 62.80
----------------------------------------------------------------------------
34.50 35.00 0.50 23.10 9.30
----------------------------------------------------------------------------
50.45 50.90 0.45 19.25 13.90
----------------------------------------------------------------------------
VU-217 -1/360 40.94 43.80 2.86 32.16 35.28
----------------------------------------------------------------------------
incl 40.94 41.44 0.50 156.50 176.00
----------------------------------------------------------------------------
VU-219 -19.5/360 2 Au
samples
42.30 45.27 2.97 145.04 289.70 cut
----------------------------------------------------------------------------
or 42.30 45.27 2.97 698.07 289.70 Uncut
----------------------------------------------------------------------------
incl 42.30 42.80 0.50 1,805 907.00 Uncut
----------------------------------------------------------------------------
incl 44.77 45.27 0.50 2,340 792.00
----------------------------------------------------------------------------
VU-221 -34.5/360 1 Au
sample
20.40 33.40 13.00 18.25 58.88 cut
----------------------------------------------------------------------------
or 20.40 33.40 13.00 66.14 58.88 Uncut
----------------------------------------------------------------------------
incl 20.40 20.90 0.50 22.50 62.20
----------------------------------------------------------------------------
incl 32.26 32.76 0.50 1,675 1,260 Uncut
----------------------------------------------------------------------------
VU-222 -46/360 12.10 21.85 9.75 8.64 8.89
----------------------------------------------------------------------------
incl 12.10 12.60 0.50 25.60 6.00
----------------------------------------------------------------------------
incl 20.25 20.75 0.50 104.00 88.00
----------------------------------------------------------------------------
VU-224 -54/360 17.50 25.50 8.00 1.08 9.71
----------------------------------------------------------------------------
VU-225 -64/360 29.00 39.50 10.50 1.02 2.79
----------------------------------------------------------------------------
49.78 50.40 0.62 20.80 13.90
----------------------------------------------------------------------------
Bulk Sample Drill Fan Section 426562.5E (360 Azimuth)
----------------------------------------------------------------------------
VU-228 -1/360 2.00 12.60 10.60 1.38 7.64
----------------------------------------------------------------------------
VU-231 18/360 7.00 11.00 4.00 10.82 13.10
----------------------------------------------------------------------------
incl 9.86 10.36 0.50 78.20 51.10
----------------------------------------------------------------------------
46.00 47.00 1.00 142.07 94.60
----------------------------------------------------------------------------
incl 46.00 46.50 0.50 279.00 185.00
----------------------------------------------------------------------------
VU-232 33.5/360 36.50 43.00 6.50 1.35 7.89
----------------------------------------------------------------------------
VU-234 45/360 8.60 12.34 3.74 6.79 12.53
----------------------------------------------------------------------------
60.83 61.33 0.50 44.40 24.30
----------------------------------------------------------------------------
68.60 69.35 0.75 51.30 49.80
----------------------------------------------------------------------------
VU-236 53.5/360 1.00 1.50 0.50 29.10 7.00
----------------------------------------------------------------------------
38.40 39.00 0.60 43.30 27.30
----------------------------------------------------------------------------
VU-238 64/360 47.50 57.90 10.40 1.60 4.32
----------------------------------------------------------------------------
VU-240 -19.5/360 44.83 48.90 4.07 43.36 33.57
----------------------------------------------------------------------------
incl 44.83 45.33 0.50 246.00 147.00
----------------------------------------------------------------------------
incl 48.40 48.90 0.50 99.40 88.30
----------------------------------------------------------------------------
VU-242 -34.5/360 1.80 24.80 23.00 1.37 6.83
----------------------------------------------------------------------------
VU-244 -46/360 0.50 15.60 15.10 1.32 5.98
----------------------------------------------------------------------------
20.90 28.40 7.50 1.34 21.06
----------------------------------------------------------------------------
VU-246 -54/360 0.93 10.10 9.17 9.58 11.45
----------------------------------------------------------------------------
incl 0.93 1.43 0.50 68.30 33.40
----------------------------------------------------------------------------
incl 8.60 9.10 0.50 83.20 94.00
----------------------------------------------------------------------------
42.71 43.21 0.50 936.00 589.00 Uncut
----------------------------------------------------------------------------
VU-248 -64.5/360 2.00 29.00 27.00 1.16 2.84
----------------------------------------------------------------------------
Exploration Drilling from Drill Bay 426571E/6258005N Testing Cleopatra
----------------------------------------------------------------------------
VU-200 19/90 52.10 60.50 8.40 24.57 23.04
----------------------------------------------------------------------------
58.75 59.25 0.50 386.00 315.00
----------------------------------------------------------------------------
VU-202 31/90 62.50 66.00 3.50 3.29 6.13
----------------------------------------------------------------------------
VU-203 40/90 69.50 70.00 0.50 3.47 11.60
----------------------------------------------------------------------------
VU-206 -31/90 61.00 61.60 0.60 128.00 64.30
----------------------------------------------------------------------------
VU-207 -40/90 60.00 63.00 3.00 10.21 10.82
----------------------------------------------------------------------------
incl 60.00 60.50 0.50 56.40 27.00
----------------------------------------------------------------------------
VU-208 -50/90 23.85 24.35 0.50 32.90 22.90
----------------------------------------------------------------------------
80.00 80.50 0.50 18.05 20.90
----------------------------------------------------------------------------
97.00 104.25 7.25 20.39 99.38
----------------------------------------------------------------------------
incl 103.75 104.25 0.50 287.00 310.00
----------------------------------------------------------------------------
Exploration Drilling from Drill Bay 426622E/6257934N Testing to the North
----------------------------------------------------------------------------
VU-201 14/16 1 Au
sample
39.50 49.50 10.00 26.53 202.72 cut
----------------------------------------------------------------------------
or 39.50 49.50 10.00 332.53 202.72 Uncut
----------------------------------------------------------------------------
incl 39.50 40.10 0.60 33.60 48.30
----------------------------------------------------------------------------
incl 42.60 43.10 0.50 22.30 202.00
----------------------------------------------------------------------------
incl 48.20 48.70 0.50 6,550 3,510 Uncut
----------------------------------------------------------------------------
VU-204 -14/16 1 Au
sample
26.40 37.83 11.43 30.09 29.29 cut
----------------------------------------------------------------------------
26.40 37.83 11.43 36.38 29.29 Uncut
----------------------------------------------------------------------------
26.85 27.35 0.50 244.00 196.00
----------------------------------------------------------------------------
37.33 37.83 0.50 574.00 435.00 Uncut
----------------------------------------------------------------------------
52.94 53.44 0.50 213.00 230.00
----------------------------------------------------------------------------
70.52 71.03 0.51 83.80 77.00
----------------------------------------------------------------------------
Exploration Drilling from Drill Bay 426611E/6258037N Testing Domain 20
----------------------------------------------------------------------------
VU-213 41/34 52.10 59.00 6.90 2.05 45.97
----------------------------------------------------------------------------
incl 57.50 58.00 0.50 12.85 291.00
----------------------------------------------------------------------------
VU-218 1/85 32.50 41.40 8.90 0.98 7.79
----------------------------------------------------------------------------
VU-220 27.5/85 94.80 97.55 2.75 4.42 55.11
----------------------------------------------------------------------------
VU-223 -53/85 23.00 31.25 8.25 5.76 27.21
----------------------------------------------------------------------------
incl 30.75 31.25 0.50 79.20 22.20
----------------------------------------------------------------------------
VU-226 -65/122 55.50 63.30 7.80 4.49 130.21
----------------------------------------------------------------------------
incl 55.50 55.95 0.45 38.50 113.00
----------------------------------------------------------------------------
VU-229 26/104 28.00 28.50 0.50 330.00 207.00
----------------------------------------------------------------------------
VU-230 50/104 39.00 41.05 2.05 8.52 10.55
----------------------------------------------------------------------------
incl 40.55 41.05 0.50 27.70 20.30
----------------------------------------------------------------------------
VU-233 -54/104 36.50 43.00 6.50 2.33 21.32
----------------------------------------------------------------------------
Exploration Drilling from Drill Bay 426570E/6258005N Testing Cleopatra
----------------------------------------------------------------------------
VU-235 46/126 1 Au
sample
29.60 42.66 13.06 18.14 28.52 cut
----------------------------------------------------------------------------
or 29.60 42.66 13.06 45.51 28.52 Uncut
----------------------------------------------------------------------------
incl 29.60 30.10 0.50 25.50 16.90
----------------------------------------------------------------------------
incl 42.16 42.66 0.50 1,145 618.00 Uncut
----------------------------------------------------------------------------
VU-237 34/126 60.00 61.50 1.50 58.90 84.20
----------------------------------------------------------------------------
VU-239 -40/126 10.50 12.00 1.50 49.90 51.60
----------------------------------------------------------------------------
2 Au
samples
53.31 62.60 9.29 49.53 118.11 cut
----------------------------------------------------------------------------
or 53.31 62.60 9.29 195.12 118.11 Uncut
----------------------------------------------------------------------------
incl 53.31 53.81 0.50 1,425 875.00 Uncut
----------------------------------------------------------------------------
incl 61.40 62.10 0.70 37.30 43.90
----------------------------------------------------------------------------
incl 62.10 62.60 0.50 2,140 1,210 Uncut
----------------------------------------------------------------------------
VU-241 44/98 64.50 73.50 9.00 1.47 3.20
----------------------------------------------------------------------------
VU-245 -13/136 64.46 67.00 2.54 105.26 77.12
----------------------------------------------------------------------------
incl 64.46 64.96 0.50 213.00 158.00
----------------------------------------------------------------------------
incl 64.96 65.56 0.60 23.80 37.80
----------------------------------------------------------------------------
incl 65.56 66.06 0.50 252.00 148.00
----------------------------------------------------------------------------
incl 66.06 67.00 0.94 21.90 21.50
----------------------------------------------------------------------------
VU-247 -24/136 1 Au
sample
33.77 49.68 15.91 20.21 25.06 cut
----------------------------------------------------------------------------
or 33.77 49.68 15.91 37.06 25.06 Uncut
----------------------------------------------------------------------------
incl 33.77 34.27 0.50 966.00 482.00 Uncut
----------------------------------------------------------------------------
incl 49.19 49.68 0.49 183.00 104.00
----------------------------------------------------------------------------
63.62 64.12 0.50 76.20 92.10
----------------------------------------------------------------------------
80.14 80.64 0.50 75.30 49.00
----------------------------------------------------------------------------
VU-249 -34/136 33.43 37.12 3.69 6.88 9.18
----------------------------------------------------------------------------
incl 33.43 33.93 0.50 24.70 18.30
----------------------------------------------------------------------------
(1) True thickness to be determined.
(2) Unless otherwise indicated as uncut, all gold assays over 430 g/t were
cut to 430 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, 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 425,700 ounces of gold produced annually
for the first 10 years and an average of 321,500 ounces of gold
produced annually over the Project's 22-year mine life. Commercial
production is targeted to commence in 2016.
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 reserves
and resources, realization of mineral reserve and 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 reserve and 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 Vice President, Corporate Relations (604)
558-1784invest@pretivm.com www.pretivm.com
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