Pretium Resources Inc.: Underground Bulk Sample Drilling Continues to Intersect High-Grade Gold
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct 10, 2013) - Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm") is pleased to report additional underground drilling results from the Valley of the Kings Bulk Sample Program (the "Program"), and results from exploration drilling in the Valley of the Kings to the west and north of the Program area. Reported assays include seven intersections grading greater than 1,000 grams per tonne gold, three of which were intersected in the planned Program fans. (See Table 1 below for assays.)
Selected drill highlights include:
- Hole VU-279 (Exploration hole) intersected 3,180 grams of gold per tonne uncut over 0.50 meters;
- Hole VU-281 (Exploration hole) intersected 2,010 grams of gold per tonne uncut over 0.50 meters;
- Hole VU-273 (Program hole) intersected 1,875 grams of gold per tonne uncut over 0.50 meters;
- Hole VU-291 (Program hole) intersected 1,550 grams of gold per tonne uncut over 0.50 meters;
- Hole VU-259 (Program hole) intersected 1,360 grams of gold per tonne uncut over 0.50 meters;
- Hole VU-277 (Exploration hole) intersected 1,430 grams of gold per tonne uncut over 0.50 meters, and 1,070 grams of gold per tonne uncut over 0.50 meters.
The bonanza-grade gold intercept from exploration hole VU-279 noted above was intersected 38 meters southeast and 18 meters above the Valley of the Kings discovery hole SU-12 intercept which graded 16,948 grams per tonne gold uncut over 1.5 meters. Exploration holes VU-277 and VU-281 noted above were drilled from the 426652E drill bay as part of continued drilling to test high-grade mineralization in Domain 20, an area north and east of the 4268015N Program drill drift.
The bonanza-grade gold intercepts from the Program holes noted above were intersected on section 426652.5E (VU-259 and VU-273) and section 426600E (VU-291).
For plan and cross section views of the reported drilling please visit the following link: http://media3.marketwire.com/docs/pvg1010_F1-6.pdf.
To date, 47 intercepts grading over 1,000 grams per tonne gold uncut have been encountered in the 2013 underground drilling program in the Valley of the Kings, comprising 23 intercepts in Program fan drilling, and 24 intercepts in exploration drilling (15 from the Cleopatra Vein, 1 from the eastern extension of the Valley of the Kings, 7 from Domain 20, and 1 in the west).
Assay results have now been received and reported for 16 of the 17 planned Program drill fans. The additional surface exploration drilling of 5,000 meters has been completed, and the 16,500 meters of additional underground exploration is nearing completion. Remaining assay results for all drilling will be reported when received.
| Table 1: Valley of the Kings Drill Results, October 2013 (VU-250 to VU-299)(1,2,3) | ||||||||
| Hole No. | Dip/ Azimuth | From (meters) | To (meters) | Interval (meters) | Gold (g/t) | Silver (g/t) | Capping | |
| Bulk Sample Drill Fan Section 426600E (180 Azimuth) | ||||||||
| VU-291 | -43/178 | 23.50 | 34.00 | 10.50 | 5.24 | 7.76 | ||
| incl | 32.10 | 32.60 | 0.50 | 40.80 | 15.80 | |||
| incl | 32.60 | 33.00 | 0.40 | 37.70 | 51.50 | |||
| 52.70 | 53.20 | 0.50 | 53.10 | 40.70 | ||||
| 89.50 | 92.50 | 3.00 | 76.58 | 106.91 | 1 Au sample cut | |||
| or | 89.50 | 92.50 | 3.00 | 263.24 | 106.91 | Uncut | ||
| incl | 91.40 | 91.90 | 0.50 | 1,550 | 604.00 | |||
| VU-295 | -50.5/178 | 53.70 | 63.20 | 9.50 | 1.31 | 35.21 | ||
| 70.20 | 70.70 | 0.50 | 40.10 | 27.20 | ||||
| VU-299 | -60/178 | 71.50 | 81.45 | 9.95 | 1.97 | 16.61 | ||
| Bulk Sample Drill Fan Section 426652.5E (360 Azimuth) | ||||||||
| VU-257 | -1/0 | 12.50 | 17.10 | 4.60 | 1.94 | 89.10 | ||
| 34.50 | 35.00 | 0.50 | 15.70 | 42.00 | ||||
| VU-259 | 13.5/0 | 18.19 | 20.61 | 2.42 | 90.49 | 209.25 | 1 Au sample cut | |
| or | 18.19 | 20.61 | 2.42 | 282.64 | 209.25 | Uncut | ||
| incl | 18.19 | 18.69 | 0.50 | 1,360 | 967.00 | Uncut | ||
| 32.40 | 36.90 | 4.50 | 8.87 | 21.37 | ||||
| incl | 36.30 | 36.90 | 0.60 | 59.50 | 85.10 | |||
| 109.45 | 109.95 | 0.50 | 26.00 | 2,140 | ||||
| VU-262 | 26.5/0 | 34.50 | 37.75 | 3.25 | 6.07 | 44.48 | ||
| incl | 37.25 | 37.75 | 0.50 | 33.70 | 35.40 | |||
| 66.40 | 66.90 | 0.50 | 53.00 | 53.40 | ||||
| VU-263 | 37/0 | 34.50 | 39.60 | 5.10 | 1.61 | 17.19 | ||
| VU-265 | 45.5/0 | 38.04 | 42.50 | 4.46 | 3.75 | 15.35 | ||
| VU-266 | 53.5/0 | 43.00 | 46.00 | 3.00 | 3.28 | 39.43 | ||
| VU-268 | -15/0 | 53.50 | 54.00 | 0.50 | 202.00 | 107.00 | ||
| 75.65 | 81.00 | 5.35 | 7.69 | 20.58 | ||||
| incl | 75.65 | 76.15 | 0.50 | 40.20 | 23.70 | |||
| incl | 76.15 | 76.75 | 0.60 | 24.00 | 20.60 | |||
| VU-270 | -28/0 | 11.00 | 11.50 | 0.50 | 22.40 | 19.90 | ||
| 11.50 | 12.00 | 0.50 | 133.00 | 86.50 | ||||
| 65.00 | 78.50 | 13.50 | 1.43 | 25.23 | ||||
| VU-271 | -38/0 | 30.50 | 31.00 | 0.50 | 30.90 | 17.30 | ||
| 37.50 | 38.10 | 0.60 | 14.45 | 5.40 | ||||
| 77.50 | 84.50 | 7.00 | 2.05 | 10.25 | ||||
| VU-273 | -46/0 | 9.45 | 9.95 | 0.50 | 1,875 | 972.00 | Uncut | |
| 75.00 | 81.20 | 6.20 | 2.02 | 28.00 | ||||
| VU-274 | -54.5/0 | 9.02 | 17.60 | 8.58 | 9.06 | 5.28 | ||
| incl | 9.02 | 9.52 | 0.50 | 137.00 | 40.60 | |||
| 72.50 | 73.00 | 0.50 | 202.00 | 75.8 | ||||
| Exploration Drilling from Drill Bay Section 426552.5E (25 Azimuth) Testing Domain 20 | ||||||||
| VU-277 | 0/25 | 23.20 | 36.27 | 13.07 | 16.50 | 14.47 | ||
| incl | 23.20 | 23.80 | 0.60 | 45.90 | 31.00 | |||
| incl | 24.40 | 25.00 | 0.60 | 58.50 | 24.20 | |||
| incl | 32.50 | 33.00 | 0.50 | 22.80 | 9.30 | |||
| incl | 35.77 | 36.27 | 0.50 | 256.00 | 220.00 | |||
| 63.55 | 77.00 | 13.45 | 32.90 | 57.49 | 2 Au samples cut | |||
| or | 63.55 | 77.00 | 13.45 | 93.86 | 57.49 | Uncut | ||
| incl | 63.55 | 64.05 | 0.50 | 1,430 | 571.00 | Uncut | ||
| incl | 75.30 | 75.80 | 0.50 | 1,070 | 611.00 | Uncut | ||
| VU-278 | 15.5/25 | 24.90 | 29.50 | 4.60 | 12.51 | 26.77 | ||
| incl | 24.90 | 25.40 | 0.50 | 55.20 | 55.20 | |||
| 98.65 | 99.15 | 0.50 | 76.10 | 91.20 | ||||
| 115.40 | 119.70 | 4.30 | 10.61 | 5.47 | ||||
| incl | 119.20 | 119.70 | 0.50 | 73.20 | 16.60 | |||
| VU-281 | -20/25 | 63.00 | 70.00 | 7.00 | 35.28 | 102.01 | 1 Au sample cut | |
| or | 63.00 | 70.00 | 7.00 | 148.14 | 102.01 | Uncut | ||
| incl | 64.78 | 65.28 | 0.50 | 2,010 | 1,070 | Uncut | ||
| incl | 67.40 | 67.90 | 0.50 | 42.80 | 44.50 | |||
| VU-283 | -37.5/25 | 3.50 | 4.00 | 0.50 | 76.30 | 46.70 | ||
| 19.65 | 27.50 | 7.85 | 13.55 | 14.51 | ||||
| incl | 19.65 | 20.15 | 0.50 | 195.00 | 172.00 | |||
| 57.00 | 57.50 | 0.50 | 34.90 | 11.20 | ||||
| 64.00 | 67.50 | 3.50 | 6.80 | 25.41 | ||||
| incl | 64.00 | 64.50 | 0.50 | 23.70 | 31.70 | |||
| incl | 67.00 | 67.50 | 0.50 | 19.70 | 112.00 | |||
| VU-284 | -53/25 | 49.95 | 50.40 | 0.45 | 127.50 | 100.00 | ||
| 50.40 | 50.95 | 0.55 | 32.80 | 13.00 | ||||
| VU-286 | -65.5/25 | 4.00 | 4.50 | 0.50 | 506.00 | 375.00 | ||
| 37.35 | 37.85 | 0.50 | 18.70 | 3.90 | ||||
| 41.41 | 51.75 | 10.34 | 12.16 | 5.40 | ||||
| incl | 41.41 | 41.91 | 0.50 | 43.80 | 11.00 | |||
| incl | 51.25 | 51.75 | 0.50 | 190.00 | 28.00 | |||
| Exploration Drilling from Drill Bay Section 426552.5E (40 Azimuth) Testing Domain 20 | ||||||||
| VU-287 | 12/40 | 29.00 | 31.75 | 2.75 | 8.85 | 33.84 | ||
| incl | 31.25 | 31.75 | 0.50 | 17.70 | 71.00 | |||
| 57.50 | 59.50 | 2.00 | 6.07 | 23.85 | ||||
| 115.00 | 115.50 | 0.50 | 28.90 | 90.80 | ||||
| VU-290 | 0/40 | 3.50 | 4.00 | 0.50 | 29.90 | 24.80 | ||
| 31.50 | 35.00 | 3.50 | 4.18 | 4.70 | ||||
| 83.00 | 86.00 | 3.00 | 8.96 | 68.12 | ||||
| incl | 85.00 | 86.00 | 1.00 | 19.05 | 29.60 | |||
| VU-292 | -16/40 | 2.79 | 3.29 | 0.50 | 95.50 | 79.00 | ||
| 51.20 | 61.25 | 10.05 | 20.19 | 22.00 | ||||
| incl | 52.50 | 53.00 | 0.50 | 23.20 | 17.90 | |||
| incl | 60.75 | 61.25 | 0.50 | 367.00 | 221.00 | |||
| VU-293 | -33/40 | 2.60 | 3.10 | 0.50 | 589.00 | 459.00 | ||
| 20.00 | 20.50 | 0.50 | 31.40 | 11.20 | ||||
| 63.00 | 71.00 | 8.00 | 16.47 | 32.88 | ||||
| incl | 63.50 | 64.15 | 0.65 | 187.50 | 220.00 | |||
| VU-296 | -48/40 | 2.50 | 3.00 | 0.50 | 393.00 | 290.00 | ||
| 30.45 | 32.95 | 2.50 | 6.55 | 4.45 | ||||
| incl | 32.45 | 32.95 | 0.50 | 24.00 | 7.80 | |||
| VU-298 | -61/40 | 49.45 | 49.95 | 0.50 | 60.80 | 25.80 | ||
| 93.50 | 125.00 | 31.50 | 1.45 | 3.53 | ||||
| Exploration Drilling from Drill Bay Section 426547.5E (270 Azimuth) Testing SU-12 | ||||||||
| VU-264 | 25/270 | 23.10 | 32.50 | 9.40 | 16.19 | 25.04 | ||
| incl | 31.51 | 32.01 | 0.50 | 289.00 | 173.00 | |||
| 63.00 | 63.60 | 0.60 | 24.30 | 61.20 | ||||
| VU-267 | 1/270 | 39.00 | 47.20 | 8.20 | 2.01 | 11.41 | ||
| incl | 39.60 | 40.10 | 0.50 | 16.85 | 10.30 | |||
| VU-269 | -25/270 | 36.65 | 41.75 | 5.10 | 45.36 | 40.73 | ||
| or | 36.65 | 41.75 | 5.10 | 64.09 | 40.73 | |||
| incl | 41.25 | 41.75 | 0.50 | 621.00 | 371.00 | 1 Au sample cut | ||
| 65.45 | 66.00 | 0.55 | 16.50 | 8.10 | Uncut | |||
| 75.50 | 76.00 | 0.50 | 23.70 | 6.30 | ||||
| Exploration Drilling from Drill Bay Section 426547.5E (325 Azimuth) Testing SU-12 | ||||||||
| VU-272 | 35/325 | 31.00 | 39.60 | 8.60 | 1.56 | 31.99 | ||
| 55.95 | 56.45 | 0.50 | 230.00 | 76.20 | ||||
| 67.27 | 67.77 | 0.50 | 104.00 | 77.90 | ||||
| VU-275 | 0/325 | 41.00 | 55.00 | 14.00 | 14.62 | 29.64 | ||
| incl | 41.00 | 41.60 | 0.60 | 80.90 | 64.60 | |||
| incl | 48.50 | 49.00 | 0.50 | 181.50 | 133.00 | |||
| incl | 54.50 | 55.00 | 0.50 | 100.00 | 65.40 | |||
| VU-276 | 25/325 | 38.50 | 41.30 | 2.80 | 71.32 | 192.67 | ||
| incl | 39.78 | 40.28 | 0.50 | 395.00 | 233.00 | |||
| 70.50 | 71.00 | 0.50 | 11.75 | 10.70 | ||||
| 71.00 | 71.50 | 0.50 | 84.90 | 55.10 | ||||
| 88.00 | 88.50 | 0.50 | 28.80 | 32.20 | ||||
| VU-279 | 13.5/325 | 20.50 | 28.50 | 8.00 | 1.29 | 11.80 | ||
| 40.05 | 40.55 | 0.50 | 3,180 | 1,485 | Uncut | |||
| 68.00 | 68.50 | 0.50 | 61.70 | 53.90 | ||||
| VU-280 | -11/325 | 58.50 | 68.10 | 9.60 | 41.48 | 32.69 | 1 Au sample cut | |
| or | 58.50 | 68.10 | 9.60 | 53.04 | 32.69 | Uncut | ||
| incl | 58.50 | 59.00 | 0.50 | 652.00 | 246.00 | Uncut | ||
| incl | 59.00 | 59.50 | 0.50 | 337.00 | 172.00 | |||
| 83.45 | 86.00 | 2.55 | 86.37 | 57.29 | 1 Au sample cut | |||
| or | 83.45 | 86.00 | 2.55 | 98.72 | 57.29 | Uncut | ||
| incl | 83.45 | 83.95 | 0.50 | 493.00 | 275.00 | |||
| VU-282 | -22/325 | 51.50 | 55.00 | 3.50 | 6.23 | 13.77 | ||
| VU-285 | -32.5/325 | 0.50 | 6.50 | 6.00 | 1.11 | 8.92 | ||
| 111.00 | 111.50 | 0.50 | 20.70 | 6.40 | ||||
| VU-288 | -40/325 | 3.00 | 13.50 | 10.50 | 1.06 | 8.81 | ||
| VU-289 | 45/325 | 43.00 | 46.50 | 3.50 | 3.00 | 19.19 | ||
| 76.00 | 82.00 | 6.00 | 1.36 | 5.33 | ||||
| Exploration Drilling from Drill Bay Section 426570E Testing Cleopatra | ||||||||
| VU-251 | 43/136 | 55.83 | 58.48 | 2.65 | 92.83 | 112.04 | 1 Au sample cut | |
| or | 55.83 | 58.48 | 2.65 | 150.57 | 112.04 | Uncut | ||
| incl | 55.83 | 56.33 | 0.50 | 736.00 | 487.00 | Uncut | ||
| incl | 57.98 | 58.48 | 0.50 | 41.20 | 11.60 | |||
| VU-253 | -51/126 | 70.00 | 71.50 | 1.50 | 44.10 | 39.60 | ||
| VU-255 | 36/70 | 83.66 | 84.16 | 0.50 | 10.20 | 6.00 | ||
| Exploration Drilling from Drill Bay Section 426562.5E (117Azimuth) Testing Cleopatra | ||||||||
| VU-250 | 24/117 | 39.00 | 43.00 | 4.00 | 3.13 | 209.26 | ||
| 59.30 | 59.80 | 0.50 | 254.00 | 384.00 | ||||
| VU-252 | 36/117 | 32.20 | 35.50 | 3.30 | 4.34 | 29.98 | ||
| incl | 34.50 | 35.00 | 0.50 | 19.75 | 24.30 | |||
| 75.00 | 80.80 | 5.80 | 2.10 | 7.06 | ||||
| VU-254 | 45/117 | 19.00 | 25.14 | 6.14 | 1.38 | 22.82 | ||
| VU-256 | 12.5/117 | 41.50 | 49.50 | 8.00 | 0.86 | 17.92 | ||
| VU-258 | -13/117 | 15.00 | 24.00 | 9.00 | 1.91 | 9.28 | ||
| 40.00 | 49.00 | 9.00 | 2.40 | 5.62 | ||||
| VU-260 | -26/117 | 14.17 | 19.30 | 5.13 | 5.04 | 15.11 | ||
| incl | 14.17 | 14.67 | 0.50 | 41.70 | 59.60 | |||
| 56.80 | 58.50 | 1.70 | 7.09 | 11.06 | ||||
| VU-261 | -38/117 | 23.00 | 25.65 | 2.65 | 2.72 | 8.52 | ||
| 71.00 | 75.00 | 4.00 | 1.55 | 2.43 | ||||
| (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. Processing of the 10,000-tonne Valley of the Kings bulk sample is expected to be completed this quarter. Permitting of a high-grade underground gold mine at Brucejack is underway, with commercial production 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.
Contact
Pretium Resources Inc.
Robert Quartermain
President and Chief Executive Officer
(604) 558-1784
Pretium Resources Inc.
Michelle Romero
Vice President, Corporate Relations
(604) 558-1784
invest@pretivm.com
www.pretivm.com