Pretium Resources Inc. (TSX:PVG) (NYSE:PVG) (“Pretivm” or the
“Company”) is pleased to provide an update on its regional
grass-roots exploration program on the Bowser Claim Group east of
the Brucejack Mine. An extensive regional exploration campaign was
initiated in 2015 to identify mineralized zones on the
1,250-square-kilometer, wholly-owned property similar to the Valley
of the Kings and Eskay Creek deposits. A final data analysis is
underway to refine high-priority targets for drilling in Spring
2018.
The comprehensive regional exploration program
has included the collection of over 11,000 samples, regional
mapping, prospecting, airborne geophysics, ground geophysics,
hyperspectral mapping, and data compilation. To date, the
program has resulted in the identification of three distinct areas
that have the potential to host epithermal mineralization.
Several gold and silver epithermal targets have
been identified in the American Creek Zone located approximately 25
kilometers southeast of the Brucejack Mine. The American Creek
valley is dominated by kilometer-scale north-south structures and
localized east-west stockworks, which host elevated gold values of
up to 62.5 grams of gold per tonne in rocks of the Lower Hazelton
Group, Unuk River Formation, the same formation that hosts the
Brucejack Mine. Geophysical conductors identified in the American
Creek Zone are supported by coincident pathfinder minerals and
trace elements associated with epithermal mineralization.
The Koopa Zone, located approximately 30
kilometers east-southeast of the Brucejack Mine, is dominated by
intensely quartz-sericite pyrite altered Salmon River Formation
volcanics and Quock Formation sediments of the Upper Hazelton
Group. As no previous work had been completed at this zone, 2017
efforts focused on prospecting and mapping, with ground geophysical
surveys undertaken to assist with interpretations at depth and in
areas with limited exposure. Prospective precious and base metal
grab samples have been collected across the zone returning results
as high as 5.28 grams of gold per tonne, 1,460 grams of silver per
tonne, 9% lead and 25% zinc with geochemical signatures similar to
intrusion-related epithermal gold deposits.
Approximately 15 kilometers east of the
Brucejack Mine, numerous high-grade gold boulders have been sampled
at the Boulder Zone, with grades as high as 19.25 grams of gold per
tonne. Ground geophysics have been conducted over the area to find
the source of the boulders. Alteration, geochemistry and Upper
Hazelton Group rocks in the area do indicate the boulders are
potentially VMS related.
As results continue to be received, review and
analysis of the extensive regional database continues with the
expectation that additional high- priority areas will be
identified.
Kenneth C. McNaughton, M.A.Sc., P.Eng., Chief
Exploration Officer, Pretium Resources Inc. is the Qualified Person
(QP) responsible for the 2017 regional grassroots exploration
program.
About Pretivm
Pretivm is ramping-up gold production at the
high-grade underground Brucejack Mine in northern British
Columbia.
For further information contact:
Joseph Ovsenek |
|
Troy Shultz |
President &
CEO |
|
Manager, Investor
Relations & |
|
|
Corporate
Communications |
Pretium Resources Inc. Suite 2300, Four Bentall Centre, 1055
Dunsmuir Street PO Box 49334 Vancouver, BC V7X 1L4 (604) 558-1784
invest@pretivm.com (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.
Statements contained herein that are not based on historical or
current fact, including without limitation statements containing
the words “anticipates,” “believes,” “may,” “continues,”
“estimates,” “expects,” and “will” and words of similar import,
constitute “forward-looking statements” within the meaning of the
U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking information may include, but is not limited to,
information with respect to our planned exploration and development
activities, the accuracy of our mineral resource estimates; capital
and operating cost estimates; production and processing estimates;
the results, the adequacy of Pretivm's financial resources, the
estimation of mineral reserves and resources including the 2016
Valley of the Kings Mineral Resource estimate and the Brucejack
Mineral Reserve estimate, realization of mineral reserve and
resource estimates and timing of development of Pretivm's Brucejack
Mine, 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
Mine, timing and receipt of approvals, consents and permits under
applicable legislation, Pretivm's executive compensation approach
and practice, and statements regarding USD cash flows and the
recurrence of foreign currency translation adjustments. Wherever
possible, words such as “plans”, “expects”, “projects”, “assumes”,
“budget”, “strategy”, “scheduled”, “estimates”, “forecasts”,
“anticipates”, “believes”, “intends”, “targets” 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 Annual Information
Form dated March 30, 2017 filed on SEDAR at www.sedar.com and in
the United States on Form 40-F 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.
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