Pretium Resources Inc.: Valley of the Kings Drilling Encounters Seven Intersections Grading Over 2,000 Grams Per Tonne Gold
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/18/12 -- Pretium Resources Inc. (TSX: PVG)(NYSE: PVG) ("Pretivm") is pleased to report that drilling in Brucejack's Valley of the Kings continues to intersect high-grade gold, with numerous assays grading over 2,000 grams per tonne gold. (See Table 1 below for assays.)
Selected highlights from the Valley of the Kings include:
-- Hole SU-502 intersected 8,151 grams of gold per tonne uncut over 0.50
meters (237.7 ounces of gold per ton over 1.64 feet);
-- Hole SU-510 intersected 4,673 grams of gold per tonne uncut over 0.59
meters (136.3 ounces of gold per ton over 1.94 feet);
-- Hole SU-526 (previously reported) intersected 4,195 grams of gold per
tonne uncut over 1.16 meters (122.3 ounces of gold per ton over 3.81
feet);
-- Hole SU-512 intersected 2,790 grams of gold per tonne uncut over 0.50
meters (81.37 ounces of gold per ton over 1.64 feet);
-- Hole SU-523 intersected:
-- 2,370 grams of gold per tonne uncut over 0.50 meters (69.12 ounces
of gold per ton over 1.64 feet) and
-- 1,060 grams of gold per tonne uncut over 0.80 meters (30.92 ounces
of gold per ton over 2.62 feet);
-- Hole SU-524 intersected:
-- 2,170 grams of gold per tonne uncut over 0.55 meters (63.29 ounces
of gold per ton over 1.80 feet) and
-- 2,020 grams of gold per tonne uncut over 0.50 meters (58.92 ounces
of gold per ton over 1.64 feet).
Hole SU-502 was collared on section 426612E, and the bonanza-grade gold interval noted above is located approximately 35 meters from the interval from hole SU-452 which intersected 41,582 grams of gold per tonne uncut over 0.50 meters. Hole SU-524 was collared on section 426312E, and the intervals noted above were intersected roughly three meters apart at a downhole depth of 124 meters. They are located approximately 46 meters from the interval from hole SU-150 which intersected 6,670 grams per tonne gold uncut over 0.50 meters.
The Valley of the Kings now extends over 800 meters in strike length and is open to the east, west, and at depth. A plan of the Valley of the Kings highlighting the location of the holes noted above is located at http://media3.marketwire.com/docs/819764.pdf.
Nine drills continue turning at Brucejack, with the 2012 Brucejack Exploration Program expected to be completed early in the fourth quarter. A Technical Session discussing the geological model of the Valley of the Kings and the results of the recently-announced Interim Mineral Resource Estimate for the Brucejack Project will be held on Wednesday, September 19th at noon (EST) with a webcast at: http://services.choruscall.ca/links/pretium120919.html.
Table 1: Selected Brucejack Project Drill Results, September 2012 (SU-501 to SU-530)(1,4)
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Inter-
From To val
Hole Collar Dip/ (met- (met- (met- Gold Silver Cap-
No. Coords. Azimuth ers) ers) ers) (g/t) (g/t) ping(2)
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6257853N
SU-501 426637E -70/358 54.00 55.50 1.50 54.80 37.60
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278.62 279.21 0.59 258.00 418.00
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6258125N
SU-502 426612E -53/178 71.50 73.00 1.50 23.90 139.00
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109.00 112.00 3.00 6.55 241.00
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2 Au
samples
233.50 256.00 22.50 22.65 109.05 cut
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or 233.50 256.00 22.50 208.33 109.05 Uncut
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incl 252.02 252.52 0.50 965.00 477.00 Uncut
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incl 254.08 254.58 0.50 8,151 4,040 Uncut
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incl 254.58 256.00 1.42 44.00 33.40
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6258228N
SU-505 426425E -50/178 46.48 46.98 0.50 37.50 13.60
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348.18 348.68 0.50 172.50 151.00
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6257813N
SU-507 426613E -50/358 266.00 284.50 18.50 23.41 15.64
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incl 266.00 267.50 1.50 100.00 34.90
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incl 272.36 272.86 0.50 280.00 189.00
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incl 283.00 284.50 1.50 81.90 55.70
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6257960N
SU-508 426223E -63/355 24.00 25.00 1.00 5.29 2.90
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76.00 77.50 1.50 5.75 24.70
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6258125N
SU-509 426612E -56/178 306.55 316.69 10.14 31.48 25.53
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incl 306.55 307.05 0.50 293.00 287.00
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incl 316.19 316.69 0.50 340.00 179.00
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1 Au
6257970N sample
SU-510 426650E -50/178 201.16 203.00 1.84 127.09 716.11 cut
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or 201.16 203.00 1.84 1,504 716.11 Uncut
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incl 201.16 201.75 0.59 4,673 2,210 Uncut
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6257997N
SU-511 426175E -50/356 388.50 389.00 0.50 135.00 202.00
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6257775N
SU-512 426612E -50/358 77.50 80.50 3.00 8.63 42.50
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293.22 307.00 13.78 24.91 45.34
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incl 293.22 293.72 0.50 301.00 138.00
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incl 305.50 307.00 1.50 121.00 136.00
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1 Au
sample
365.33 366.50 1.17 165.98 151.39 cut
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or 365.33 366.50 1.17 1,196 151.39 Uncut
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incl 365.33 365.83 0.50 2,790 330.00 Uncut
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6257787N
SU-513 426475E -50/358 27.00 28.50 1.50 11.95 10.10
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129.85 131.71 1.86 81.40 53.51
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incl 129.85 130.40 0.55 33.60 10.10
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incl 131.21 131.71 0.50 265.00 186.00
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6258075N
SU-514 426612E -45/178 101.50 103.00 1.50 10.65 20.00
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203.50 206.00 2.50 358.32 271.99
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203.50 204.77 1.27 378.00 302.00
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204.77 206.00 1.23 338.00 241.00
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6257775N
SU-517 426500E -50/358 136 137.50 1.50 32.10 14.80
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6258112N
SU-518 426600E -45/178 34.50 36.00 1.50 10.45 80.90
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6258135N
SU-519 426550E -48/178 184.00 185.50 1.50 107.00 72.60
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1 Au
sample
250.36 252.18 1.82 163.11 310.45 cut
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or 250.36 252.18 1.82 451.57 310.45 Uncut
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incl 250.36 250.86 0.50 212.00 258.00
----------------------------------------------------------------------------
incl 251.68 252.18 0.50 1,430 844.00 Uncut
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459.50 461.00 1.50 61.60 87.90
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6257905N
SU-520 426312E -60/358 107.32 107.85 0.53 373.00 181.00
----------------------------------------------------------------------------
180.00 181.50 1.50 9.37 5.90
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6258257N
SU-521 426575E -49/178 256.50 258.00 1.50 9.94 6.90
----------------------------------------------------------------------------
6257947N
SU-522 426173E -50/357 66.86 67.38 0.52 49.30 99.70
----------------------------------------------------------------------------
454.50 456.00 1.50 23.30 12.00
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6258167N
SU-523 426500E -45/178 44.41 47.03 2.62 16.23 8.17
----------------------------------------------------------------------------
incl 44.41 44.91 0.50 37.50 26.30
----------------------------------------------------------------------------
incl 46.53 47.03 0.50 44.10 6.80
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1 Au
sample
209.00 214.50 5.50 42.19 110.53 cut
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or 209.00 214.50 5.50 223.09 110.53 Uncut
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incl 209.00 210.50 1.50 24.80 15.80
----------------------------------------------------------------------------
incl 212.65 213.15 0.50 2,370 1,140 Uncut
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313.00 313.80 0.80 1,060 480.00 Uncut
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371.55 372.05 0.50 73.10 33.30
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2 Au
6257891N samples
SU-524 4263125E -60/358 124.39 127.99 3.60 111.90 207.95 cut
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or 124.39 127.99 3.60 613.15 207.95 Uncut
----------------------------------------------------------------------------
incl 124.39 124.89 0.50 2,020 949.00 Uncut
----------------------------------------------------------------------------
incl 127.44 127.99 0.55 2,170 491.00 Uncut
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171.82 172.32 0.50 71.00 62.00
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6257829N
SU-525 426475E -50/358 47.71 50.24 2.53 99.03 102.29
----------------------------------------------------------------------------
incl 47.71 48.21 0.50 69.10 209.00
----------------------------------------------------------------------------
incl 48.89 49.58 0.69 306.00 207.00
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1 Au
SU- 6258096N sample
526(3) 427000E -57/178 320.5 339.5 19.0 18.3 11.7 cut
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or 320.5 339.5 19.0 24.9 11.7 Uncut
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incl 320.5 321.0 0.5 150.0 90.0
----------------------------------------------------------------------------
incl 332.86 333.36 0.5 752.0 290.0 Uncut
----------------------------------------------------------------------------
400.71 401.87 1.16 4,195 2405
----------------------------------------------------------------------------
6257845N
SU-527 426362E -50/358 71.67 75.00 3.33 39.73 45.06
----------------------------------------------------------------------------
incl 72.24 73.07 0.83 57.20 76.70
----------------------------------------------------------------------------
incl 73.07 73.57 0.50 143.00 70.50
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6258197N
SU-529 426600E -45/178 51.70 54.61 2.91 44.60 17.23
----------------------------------------------------------------------------
incl 51.70 52.21 0.51 95.10 31.80
----------------------------------------------------------------------------
incl 54.11 54.61 0.50 159.50 58.70
----------------------------------------------------------------------------
83.00 83.50 0.50 30.80 2.90
----------------------------------------------------------------------------
1 Au
sample
365.92 367.81 1.89 112.00 161.60 cut
----------------------------------------------------------------------------
or 365.92 367.81 1.89 331.58 161.60 Uncut
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incl 365.92 366.42 0.50 1,210 582.00 Uncut
----------------------------------------------------------------------------
incl 367.31 367.81 0.50 40.10 15.50
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6257759N
SU-530 426625E -55/358 20.36 20.86 0.50 19.70 17.60
----------------------------------------------------------------------------
333.00 334.50 1.50 10.95 4.00
----------------------------------------------------------------------------
491.00 492.50 1.50 27.80 136.00
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(1) True thickness to be determined.
(2) Unless otherwise indicated as uncut, all gold assays over 500 g/t were
cut to 500 g/t.
(3) Previously reported.
(4) 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.
Assay results for completed drilling will be reported as they are received over the course of the 2012 drilling season. The assays for all holes after SU-466 will be incorporated in the final 2012 Mineral Resource estimate for the Brucejack Project expected later in the fourth quarter of 2012 or in the first quarter of 2013.
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 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.
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)558-1784
Pretium Resources Inc.
570 Granville Street, Suite 1600
Vancouver, BC V6C 3P1
(604)558-1784
invest@pretivm.com / www.pretivm.com
(SEDAR filings: Pretium Resources Inc.)