VANCOUVER, BRITISH COLUMBIA–(Marketwired – Sept. 21, 2015) – Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) (“Pretivm” or the “Company”) is pleased to report initial results from the grass-roots exploration drill program currently underway in the Flow Dome Zone east of the Brucejack Project. High-grade intersections along with long intervals of low-grade mineralization suggest a new stockwork zone or an extension of the Valley of the Kings deposit. The Flow Dome Zone and Kitchenview Zone northeast of the Brucejack Project were identified through extensive regional exploration as potential porphyry/epithermal-style mineralized zones similar to the Valley of the Kings. (See Table 1 below for assays.)
Selected drill highlights include:
- Hole SU-657 intersected 21.87 grams of gold per tonne over 9 meters, including 203 grams of gold per tonne over 0.50 meters, 41.20 grams of gold per tonne over 0.50 meters, and 33.50 over 0.59 meters;
- Hole SU-654 intersected 16.9 grams of gold per tonne over 1.50 meters;
- Hole SU-654 also intersected 0.55 grams of gold per tonne over 33 meters;
- Hole SU-658 intersected 6.2 grams of gold per tonne over 2.35 meters, including 10.75 grams of gold per tonne over 1.18 meters; and,
- Hole SU-658 also intersected 0.26 grams of gold per tonne over 90 meters.
The mineralization encountered in hole SU-657 is approximately 650 meters east of the Valley of the Kings, and the mineralization encountered in holes SU-654 and SU-658 are approximately 1,000 meters to the east of the Valley of the Kings. Additional drilling is planned to further delineate this zone to determine if it is a continuation of the Valley of the Kings or a new stockwork zone.
For a plan view of the reported drill results please see the following link: http://media3.marketwire.com/docs/Plan_View_Sept-21-2015.pdf.
The grass-roots exploration drill program will include 10,000 to 15,000 meters of surface drilling, and assay results will continue to be reported as they are received.
|Table 1: Selected Grass-roots Exploration Drill Results, September 2015 (SU-654 to VU-658)(1,2)|
|SU-654||-55 / 0||877.50||879.00||1.50||16.90||44.20|
|1,102.50||1,123.50||21.00||0.34||31.61||0.24% Zn and anomalous lead|
|SU-655||-50 / 180||556.83||557.53||0.70||0.01||55.90||0.32% Cu|
|SU-656||-70 /180||581.50||583.00||1.50||2.00||6.70||2.02% Zn and 0.13% Cu|
|979.00||982.00||3.00||3.02||17.70||0.96% Zn and 0.60% Pb|
|SU-657||-60 / 315||890.24||891.24||1.00||7.40||30.20|
|SU-658||-60 / 180||778.65||781.00||2.35||6.20||475.95|
(1) True thickness to be determined.
(2) 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 one in 20 samples had a sample cut from assay rejects assayed as a field duplicate at ALS Chemex in North Vancouver, B.C. Whole core (core not split) is being assayed as part of the underground infill drill program.
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.
Pretivm is constructing a high-grade underground mine at its Brucejack Project in northern British Columbia with commercial production targeted for 2017.
|Pretium Resources Inc.|
|Suite 2300, Four Bentall Centre, 1055 Dunsmuir Street|
|PO Box 49334 Vancouver, BC V7X 1L4|
|(SEDAR filings: Pretium Resources Inc.)|
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 adequacy of Pretivm’s financial resources, the estimation of mineral reserves and resources including the 2013 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 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”, “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 31, 2015 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.
(604) 558-1784 or (877) 558-1784
Pretium Resources Inc.
Manager, Investor Relations & Corporate Communications
(604) 558-1784 or (877) 558-1784