Pretium Resources Inc.: High-Grade Gold Intercepts Continue to Confirm Valley of the Kings Continuity
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/03/12 -- Pretium Resources Inc. (TSX: PVG)(NYSE: PVG) ("Pretivm") is pleased to report that drilling in Brucejack's Valley of the Kings continues to confirm the projection and continuity of high-grade gold, with numerous intervals grading over 1 kilogram per tonne gold. (See Table 1 below for assays.)
Selected highlights from the Valley of the Kings include:
-- Hole SU-542 intersected:
-- 2,258 grams of gold per tonne uncut over 2.30 meters (65.9 ounces of
gold per ton over 7.55 feet) and
-- 8,912 grams of gold per tonne uncut over 0.50 meters (259.9 ounces
of gold per ton over 1.64 feet);
-- Hole SU-548 intersected:
-- 3,450 grams of gold per tonne uncut over 0.50 meters (100.6 ounces
of gold per ton over 1.64 feet) and
-- 1,105 grams of gold per tonne uncut over 0.50 meters (32.2 ounces of
gold per ton over 1.64 feet);
-- Hole SU-535 intersected:
-- 2,410 grams of gold per tonne uncut over 0.50 meters (70.3 ounces of
gold per ton over 1.64 feet) and
-- 1,695 grams of gold per tonne uncut over 0.60 meters (49.4 ounces of
gold per ton over 1.97 feet).
The two bonanza-grade gold intercepts noted above from hole SU-542, which was collared on section 426300E, are located 120 meters deeper and 12.5 meters east of the bonanza-grade gold interval from SU-493 grading 1,751 grams per tonne gold uncut over 1.2 meters, and approximately two meters east of the interval from hole SU-340 grading 150 grams per tonne gold over 1.0 meter. Additionally, hole SU-542 encountered two exceptionally high-grade intervals near surface: an interval grading 1,780 grams per tonne gold uncut over 0.5 meters at a downhole depth of 16.0 meters, and an interval grading 2,420 grams per tonne gold uncut over 0.5 meters at a downhole depth of 20.8 meters.
Hole SU-535, which was collared on section 426325E, intercepted a total of 10 separate gold intervals grading over 12 grams per tonne gold, with six grading over 100 grams per tonne gold, from a downhole depth of approximately 12.5 meters to a downhole depth of 501.6 meters. The two bonanza intercepts noted above are located 35 meters southeast of the near-surface intercepts from SU-542.
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/pvg310-F1.pdf.
The 2012 Brucejack Exploration Program is nearing conclusion, and the final assays will be reported when they are received. 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.
Table 1: Selected Brucejack Project Drill Results, October 2012 (SU-531 to
SU-555)(1,3)
----------------------------------------------------------------------------
Inter-
Hole Collar Dip/ From To val Gold Silver Capping
No. Coords. Azimuth (meters) (meters)(meters) (g/t) (g/t) (2)
----------------------------------------------------------------------------
VALLEY OF THE KINGS
----------------------------------------------------------------------------
SU- 6258171N
531 426575E -48/177 124.78 125.28 0.50 45.70 22.90
----------------------------------------------------------------------------
275.17 280.97 5.80 35.45 41.25
----------------------------------------------------------------------------
incl 275.17 275.67 0.50 368.00 205.00
----------------------------------------------------------------------------
incl 280.47 280.97 0.50 16.10 13.00
----------------------------------------------------------------------------
SU- 6258306N
533 426575E -50/178 415.00 416.50 1.50 8.75 4.40
----------------------------------------------------------------------------
488.66 489.16 0.50 25.10 20.60
----------------------------------------------------------------------------
SU- 6257895N
534 426225E -50/355 125.50 127.00 1.50 7.03 7.30
----------------------------------------------------------------------------
SU- 1 Au
535 6257801N sample
426325E -55/358 12.45 17.50 5.05 42.03 31.19 cut
----------------------------------------------------------------------------
or 12.45 17.50 5.05 243.02 31.19 Uncut
----------------------------------------------------------------------------
incl 12.45 12.95 0.50 2,410 265.00 Uncut
----------------------------------------------------------------------------
16.00 17.50 1.50 12.90 13.20
----------------------------------------------------------------------------
37.21 37.81 0.60 1,695 119.00 Uncut
----------------------------------------------------------------------------
300.50 302.00 1.50 122.50 46.70
----------------------------------------------------------------------------
347.08 347.58 0.50 690.00 351.00 Uncut
----------------------------------------------------------------------------
427.00 434.50 7.50 12.30 10.79
----------------------------------------------------------------------------
incl 427.00 428.50 1.50 47.40 21.60
----------------------------------------------------------------------------
501.11 501.61 0.50 417.00 262.00 Uncut
----------------------------------------------------------------------------
SU- 6258292N
536 426550E -48/178 360.43 360.93 0.50 67.90 28.00
----------------------------------------------------------------------------
380.00 381.50 1.50 13.90 59.40
----------------------------------------------------------------------------
439.07 442.50 3.43 17.95 12.84
----------------------------------------------------------------------------
439.07 439.57 0.50 108.00 50.70
----------------------------------------------------------------------------
SU- 6258212N
537 426622E -48/178 187.26 208.95 21.69 30.07 25.81
----------------------------------------------------------------------------
incl 187.26 187.76 0.50 377.00 222.00
----------------------------------------------------------------------------
incl 191.47 191.97 0.50 33.30 32.80
----------------------------------------------------------------------------
incl 193.55 194.16 0.61 55.80 33.60
----------------------------------------------------------------------------
incl 198.71 199.21 0.50 198.00 91.10
----------------------------------------------------------------------------
incl 199.21 199.71 0.50 193.50 91.20
----------------------------------------------------------------------------
208.45 208.95 0.50 338.00 127.00
----------------------------------------------------------------------------
361.60 362.36 0.76 35.50 23.70
----------------------------------------------------------------------------
SU- 6258096N
538 427000E -54/178 145.00 146.50 1.50 9.88 0.60
----------------------------------------------------------------------------
SU- 6258192N
539 426487E -45/178 225.50 227.00 1.50 14.30 17.10
----------------------------------------------------------------------------
341.21 341.71 0.50 953.00 146.00 Uncut
----------------------------------------------------------------------------
377.91 381.00 3.09 19.85 16.78
----------------------------------------------------------------------------
incl 377.91 378.41 0.50 99.90 45.90
----------------------------------------------------------------------------
508.74 509.24 0.50 251.00 198.00
----------------------------------------------------------------------------
SU- 6258228N
540 426778E -50/178 94.50 96.00 1.50 8.63 50.20
----------------------------------------------------------------------------
390.36 392.86 2.50 9.44 324.96
----------------------------------------------------------------------------
incl 390.36 390.86 0.50 21.60 1,040.00
----------------------------------------------------------------------------
397.00 398.50 1.50 13.00 10.80
----------------------------------------------------------------------------
SU- 6257660N
541 426625E -55/358 19.00 25.29 6.29 8.70 9.89
----------------------------------------------------------------------------
incl 19.00 20.50 1.50 27.30 27.00
----------------------------------------------------------------------------
incl 24.79 25.29 0.50 21.10 8.40
----------------------------------------------------------------------------
214.00 215.50 1.50 42.60 19.00
----------------------------------------------------------------------------
526.00 527.50 1.50 29.60 12.20
----------------------------------------------------------------------------
SU- 2 Au
542 6257831N samples
426300E -60/358 16.00 21.32 5.32 72.08 307.28 cut
----------------------------------------------------------------------------
or 16.00 21.32 5.32 395.39 307.28 Uncut
----------------------------------------------------------------------------
incl 16.00 16.50 0.50 1,780 1,365 Uncut
----------------------------------------------------------------------------
incl 20.82 21.32 0.50 2,420 1,890 Uncut
----------------------------------------------------------------------------
121.84 122.34 0.50 31.00 172.00
----------------------------------------------------------------------------
141.14 141.64 0.50 20.20 773.00
----------------------------------------------------------------------------
1 Au
sample
269.86 272.16 2.30 179.01 391.48 cut
----------------------------------------------------------------------------
or 269.86 272.16 2.30 2,258 391.48 Uncut
----------------------------------------------------------------------------
incl 271.09 271.66 0.57 1,285 602.00 Uncut
----------------------------------------------------------------------------
incl 271.66 272.16 0.50 8,912 1,070 Uncut
----------------------------------------------------------------------------
SU- 2 Au
543 6258116N samples
427103E -45/177 351.73 352.23 0.50 30.30 13.60 cut
----------------------------------------------------------------------------
SU- 6258262N
544 426777E -50/177 20.76 25.00 4.24 41.38 39.04
----------------------------------------------------------------------------
incl 22.97 23.47 0.50 263.00 137.00
----------------------------------------------------------------------------
174.37 174.87 0.50 244.00 262.00
----------------------------------------------------------------------------
SU- 6257912N
545 426287E -60/358 416.66 423.00 6.34 3.64 176.66
----------------------------------------------------------------------------
SU- 6258191N
546 426550E -48/178 41.26 42.26 1.00 28.05 25.80
----------------------------------------------------------------------------
319.50 321.00 1.50 8.66 5.60
----------------------------------------------------------------------------
366.78 367.31 0.53 78.00 50.90
----------------------------------------------------------------------------
SU- 6258306N
547 426575E -58/178 427.50 429.00 1.50 45.00 7.10
----------------------------------------------------------------------------
SU- 6257848N
548 426287E -60/357 226.50 232.50 6.00 6.11 5.18
----------------------------------------------------------------------------
2 Au
samples
290.50 309.50 19.00 31.24 65.88 cut
----------------------------------------------------------------------------
or 290.50 309.50 19.00 131.11 65.88 Uncut
----------------------------------------------------------------------------
incl 290.50 291.23 0.73 264.00 157.00
----------------------------------------------------------------------------
incl 291.23 291.73 0.50 3,450 1,550 Uncut
----------------------------------------------------------------------------
incl 305.62 306.12 0.50 1,105 635.00 Uncut
----------------------------------------------------------------------------
SU- 6258235N
549 426475E -53/178 15.00 16.25 1.25 9.98 10.50
----------------------------------------------------------------------------
83.50 85.45 1.95 12.75 12.10
----------------------------------------------------------------------------
379.50 384.00 4.50 11.94 12.33
----------------------------------------------------------------------------
incl 382.50 384.00 1.50 26.50 15.10
----------------------------------------------------------------------------
SU- 6258177N
552 426525E -47/178 209.40 220.98 11.58 13.79 10.04
----------------------------------------------------------------------------
209.40 209.90 0.50 153.50 89.80
----------------------------------------------------------------------------
220.38 220.98 0.60 133.00 71.20
----------------------------------------------------------------------------
SU- 6258119N
553 426950E -45/178 332.02 334.86 2.84 11.63 628.10
----------------------------------------------------------------------------
332.96 333.75 0.79 24.20 1,665
----------------------------------------------------------------------------
384.20 385.55 1.35 7.20 619.00
----------------------------------------------------------------------------
SU- 6258256N
554 426750E -51/178 36.00 37.50 1.50 5.18 177.00
----------------------------------------------------------------------------
45.45 47.00 1.55 52.90 535.00
----------------------------------------------------------------------------
SU- 6258270N
555 426825E -45/178 69.00 73.00 4.00 17.71 137.84
----------------------------------------------------------------------------
incl 69.00 70.50 1.50 17.45 267.00
----------------------------------------------------------------------------
incl 72.50 73.00 0.50 70.30 74.50
----------------------------------------------------------------------------
197.45 199.00 1.55 14.45 48.10
----------------------------------------------------------------------------
WEST ZONE
----------------------------------------------------------------------------
SU- 6258960N
532 426750E -55/178 430.25 430.75 0.50 1.07 1,270
----------------------------------------------------------------------------
(1) True thickness to be determined.
(2) Unless otherwise indicated as uncut, all gold assays over 380 g/t were
cut to 380 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 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.
(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) 558-1784
invest@pretivm.com
www.pretivm.com