Pretium Resources Inc TSX:PVG announced step-out drill results from the Valley of the Kings Deposit of its Brucejack Project in northern BC. Highlights include
4,195 grams per tonne gold uncut and 2,405 g/t silver over 1.16 metres
18.3 g/t gold cut (or 24.9 g/t gold uncut) and 11.7 g/t silver over 19 metres
(including 150 g/t gold and 90 g/t silver over 0.5 metres)
(including 752 g/t gold and 290 g/t silver over 0.5 metres)
True thicknesses have yet to be determined. Unless indicated as uncut, all gold assays over 500 g/t were cut to 500 g/t. Assays are pending for the remaining 92 metres of this hole.
The underground program drills the Valley of the Kings Deposit from an elevation of 1,270 metres to demonstrate continuity of high-grade gold mineralization. The first phase will slash out the existing West Zone underground workings to five-by-five metres down to the 1,330-metre level. The next phase will advance the decline from the 1,314-metre level of the West Zone to the 1,270-metre level in the Valley of the Kings, a distance of approximately 450 metres. A 10,000-tonne underground bulk sample is expected to be excavated from the 1,270-metre level of the Valley of the Kings in the first half of 2013.
Pretium also released an updated resource estimate today. Using a gold-equivalent cutoff of 5 g/t, the Valley of the Kings Deposit shows an indicated resource of 9.9 million tonnes grading 16.2 g/t gold for 5.1 million gold ounces and 14.1 g/t silver for 4.5 million silver ounces, and an inferred resource of 4.6 million tonnes grading 35 g/t gold for 5.1 million gold ounces and 13.3 g/t silver for 2 million silver ounces.
Using the same cutoff, the West Zone shows a measured resource of 2.4 million tonnes grading 5.85 g/t gold for 500,000 gold ounces and 347 g/t silver for 26.8 million silver ounces, an indicated resource of 2.5 million tonnes grading 5.86 g/t gold for 500,000 gold ounces and 190 g/t silver for 15.1 million silver ounces, and an inferred resource of 4 million tonnes grading 6.44 g/t gold for 800,000 gold ounces and 82 g/t silver for 10.6 million silver ounces.
Total measured and indicated resources come to 6 million gold ounces and 46.3 million silver ounces, while the inferred total shows 5.9 million gold ounces and 12.5 million silver ounces.
The company plans to release its feasibility study in 2Q 2013.
or Michelle Romero
Corporate Relations Director
by Greg Klein