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Mine plan wins support; only one dissenter at meeting on Highlands Project
http://mtstandard.com/news/local/mine-plan-wins-support-only-one-dissenter-at-meeting-on/article_d2e0aa96-3adc-11e3-9635-0019bb2963f4.html
All but one of about 20 residents who spoke at a Monday night meeting for a proposed underground gold mine south of Butte support the proposal.
Most voiced excitement for the more than 50 jobs the Butte Highlands Project would bring to the area.
The main point of contention is the location of the haul road for the proposed mine, which is 15 miles south of Butte. The Department of Environmental Quality, which hosted the gathering, will not have final say in the placement of the road. That decision belongs to the Forest Service, and no decision has been announced at this time.
The comments made by the public on the mine permit will be used to sculpt the final report composed by DEQ and will contain the concerns about using north from the site on Highland Road to Roosevelt Drive as the main haul route. The residents in the area would suffer, people at the meeting said.
Jeffrey Herrick, a coordinator with DEQ, said the sentiments of those who spoke are consistent with the comments from previous meetings as well as written comments.
“It reinforces some concerns,” Herrick said after the gathering. “That makes for a better report.”
The original permit submitted by the Butte Highlands Project, which is jointly owned by Timberline Resources Corp. and Montana State Gold Co. LLC, was deemed complete and compliant, Herrick said. The draft report, available at http://deq.mt.gov/eis.mcpx, explores potential
consequences and alternatives.
An overwhelming majority of speakers said they welcome the economic development mining would produce. Others spoke of their concern about the quality of water discharged from the mine.
Dennis Henderson, county commissioner representing District 5, said the council and chief executive have already written their support of an alternative route west on Highland Road. Henderson said his main concern is safety and the Roosevelt route presents many dangers.
Not only do 80-plus families who live along Roosevelt Road use it, but also recreationists, said Lori Gates, a Roosevelt Drive resident.
“It is a big hazard and a big accident waiting to happen,” Gates added.
Erik Fredlund was the lone voice against the mine. His concerns include the watershed, wildlife fleeing the area and the many people who use the neighboring roads.
“This is a bad idea,” said Fredlund, also a Roosevelt Drive area resident.
Comments will be collected until Nov. 9.
Written statements on the proposed mine may be submitted to Jeffrey Herrick, DEQ Director’s Office, Box 200901, Helena 59620-0901 or electronically to buttehighlandscomments@mt.gov.
The Forest Service decision on the mine haul route will announced at a later date.
— Reporter Angela Brandt may be reached via email at angela.brandt@mtstandard.com or (406) 496-5519.
Market is getting this wrong.
From this first section:
Strathcona expected 2.08 grams per tonne gold
Snowden expected 4.6 grams per tonne gold and 6.8 grams per tonne silver
We got over 4 grams per tonne gold and more silver than expected
While it is not ideal to announce this lower grade sample first, it was important to finally get some transparency as to what was going on with Strathcona. Now that they have been exposed as having a flawed model to analyze this deposit, we can move on to processing higher grade material and complete the 10,000 tonnes.
The first section tested was expected to be lower grade and is consitent with what they expected for this portion.
"The tonnage processed and the grade of the gold and silver produced from the material excavated from the 426585E development going through these stopes was estimated to be 1,451 tonnes grading 4.6 grams per tonne gold and 6.8 grams per tonne silver, based on the preliminary mill results estimated for the 426585E Stopes."
Basically Strathcona method exposed as inadequate and their resignation and views were premature and faulty. While first round of milling of 2,167 tonnes produced just 281 ounces, that is far more than Strathcona estimate of 145.
Pretium Resources Inc.: First Bulk Sample Cross-Cut Processing Results
http://finance.yahoo.com/news/pretium-resources-inc-first-bulk-110000518.html
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct 22, 2013) - Pretium Resources Inc. (PVG.TO)(PVG) ("Pretivm") is pleased to report the initial processing results for the material excavated from the Valley of the Kings Bulk Sample Program (the "Program") and provide further details on the status of the Program.
Results from Processing 426585E Cross-Cut
The preliminary mill results from the processing of the 2,167 tonnes of bulk sample material contained in the 426585E cross-cut are presented in Table 1 below:
Table 1: Cross-cut 426585E Preliminary Mill Results
Tonnes
Milled
(Dry)
Gold Ounces
Gravity
Concentrate
Gold Ounces
Flotation
Concentrate
Gold
Ounces
Tailings
Total
Contained
Gold Ounces
Total
Contained
Silver Ounces
2,167
94
174
13
281
532
Notes: Preliminary mill results are provided by Strategic Minerals LLC, operator of the mill, and are subject to final establishment of weights and assays and settlement.
Processing Continuing on Track
The processing of the excavated 10,000-tonne bulk sample is proceeding as planned at a rate of approximately 1,000 tonnes per week to produce gold/silver gravity and flotation concentrates. Processing of the 426555E cross-cut is underway and is expected to be completed this week, followed by the 426645E cross-cut. A total of 4,000 ounces of gold were projected to be produced in total from the material excavated for the Program.
The amount of gold produced from the entire 10,000-tonne bulk sample will be used to reconcile the Valley of the Kings November 2012 Mineral Resource estimate (the "November 2012 Mineral Resource Estimate"), prepared by Snowden Mining Industry Consultants ("Snowden"). Snowden, one of the world's leading providers of technical consulting services, independent advice and technology solutions to the mining sector, was engaged by Pretivm to produce the November 2012 Mineral Resource Estimate and review and sign-off on the milling and processing component of the Program.
Sample Tower Results for 426585E Cross-Cut
Prior to resigning from the Program, Strathcona Mineral Services Ltd ("Strathcona") provided to Pretivm preliminary assay results from the sample tower that included those for the 426585E cross-cut, which averaged 2.08 grams per tonne gold. The assay results from the sample tower represent approximately 0.01% of the material excavated from the 426585E cross-cut. Based on a dry weight for the 426585E cross-cut of 2,167 tonnes, a total of 145 ounces of gold were estimated by Pretivm to be contained within the 426585E cross-cut using the preliminary assay results from the sample tower. Consultants from Strathcona, also one of the world's leading providers of consulting services to the mining industry in Canada and internationally, were engaged in late 2012 as independent Qualified Persons to oversee the 10,000-tonne bulk sample and produce a report at the conclusion of the Program once all data, including the assay results from the sample tower and the 16,789 meters of completed underground drilling, had been compiled.
Preliminary figures from the processing of the 426585E cross-cut show the contained metal included 281 ounces of gold. It is the opinion of both Pretivm and Snowden that there is a significant difference in the contained gold estimated by the selective sampling of the 426585E cross-cut by the sample tower and the actual contained gold determined by milling the total 2,167 tonnes of material excavated from the 426585E cross-cut (there is 94% more gold produced from the mill than was estimated from the sample tower results for the same material). A related discussion on the sample tower component of the Program, Strathcona's stated reasons for withdrawing from the Program, and Snowden's response is set out below.
Cross-cut 426585E in Relationship to the November 2012 Valley of the Kings Mineral Resource Estimate
Snowden has advised Pretivm that the November 2012 Mineral Resource estimate is a bulk mining estimate, and that the grade of no single block should be used as a standalone estimate. As a result, the actual contained gold within the entire 10,000-tonne bulk sample determined by processing needs to be reconciled against the contained gold predicted for the 10,000-tonne bulk sample using the estimated gold grade for the bulk sample area from the November 2012 Mineral Resource Estimate, which is estimated to be approximately 4,000 ounces.
Cross-cut 426585E in Relationship to the Mineable Stopes Defined by the Feasibility Study
A net smelter returns royalty ("NSR") cut-off grade of $180/tonne of ore was used to define the mineral reserves for the Brucejack Project Feasibility Study (see Pretivm's news release dated June 11, 2013) at base case prices of $1,350 gold, $20 silver and US$:C$ at par. The $180 NSR provided a minimum $23.54 operating margin for Feasibility Study operating costs of C$156.46/tonne milled.
For a level plan view of the bulk sample area with Feasibility Study stope shapes see the following link: http://media3.marketwire.com/docs/pvg1022-F1.pdf.
The 426585E cross-cut excavation cuts through portions of three Feasibility Study stopes (the "426585E Stopes"). The tonnage processed and the grade of the gold and silver produced from the material excavated from the 426585E development going through these stopes was estimated to be 1,451 tonnes grading 4.6 grams per tonne gold and 6.8 grams per tonne silver, based on the preliminary mill results estimated for the 426585E Stopes. The value of the gold and silver produced from the 426585E Stopes was estimated to be $204.03/tonne at Feasibility Study base case metal prices providing an operating margin of $47.57/tonne over Feasibility Study operating costs.
Strathcona's Withdrawal from the Program
As stated above, consultants from Strathcona were engaged in late 2012 as independent Qualified Persons to oversee the 10,000-tonne bulk sample and produce a report at the conclusion of the Program once all data, including the assay results from sample tower and the 16,789 meters of completed underground drilling, had been compiled. The report was expected to reconcile the assay results from the sample tower against a local resource estimate prepared by Snowden based on the Program drilling, which would provide an empirical grade prediction variance for a stope-sized tonnage that could be related to and used for resource classification. Strathcona's report on the Program was expected in early 2014.
Strathcona withdrew from the Program on October 8, 2013 before any results from the processing of the bulk sample were available. In withdrawing from the Program, Strathcona advised Pretivm that "…there are no valid gold mineral resources for the VOK Zone, and without mineral resources there can be no mineral reserves, and without mineral reserves there can be no basis for a Feasibility Study." They also advised that "…statements included in all recent press releases [by Pretivm] about probable mineral reserves and future gold production [from the Valley of the Kings zone] over a 22-year mine life are erroneous and misleading." Snowden maintains its stance that the November 2012 Mineral Resource Estimate remains valid, and has taken steps to involve a third party peer review in its up-coming mineral resource update.
In addition, Strathcona advised that, "The infrequent high-grade intercepts reported in the press releases have been shown in the underground exposures of the bulk sample program to usually be of very narrow width (0.5 meters) and associated with narrow geological structures that occasionally have mineable continuity as in the case of the Cleopatra Vein." The results from Valley of the Kings Program drilling have been, from the outset, consistent with results from prior exploration drilling in the Valley of the Kings. Drilling has frequently intersected extreme grade mineralization over narrow widths, with 47 intersections grading greater than 1,000 grams of gold per tonne from underground drilling (on average there is one in every 550 meters of 2013 drilling) and 125 intersections in total to date grading greater than 1,000 grams of gold per tonne for the Valley of the Kings. The Program was initiated, amongst other reasons, to determine the bulk mineability of the Valley of the Kings mineralization. These reasons and the form of mineralization were discussed with Strathcona prior to their engagement.
When it withdrew, Strathcona advised Pretium that it had previously asserted similar views critiquing the Snowden resource model for the Valley of the Kings, accompanied with "recommendations" for public disclosure of the preliminary bulk sample data supporting their conclusions. At one point, these assertions, conclusions and "recommendations" were made on the basis of approximately 20% of the underground drilling results, no assay results from the sample tower and no results from production.
Snowden has consistently and repeatedly advised in response to all comments from Strathcona that the true test of the resource estimate will only come from the reconciliation results between the ultimate grade of the bulk sample (as defined by produced metal and metal accounting) and the grade of the resource estimate for the same volume. Strathcona resigned before Snowden had an opportunity to formally respond to their assertions.
Both Pretivm's management and Snowden share a number of significant concerns with respect to Strathcona's conclusions. They contend that the Strathcona conclusions are based on: (a) the interpretation of preliminary data, (b) the interpretation of too few data, and (c) the incorrect interpretation and application of preliminary local data for comparison to the resource estimate model. Pretivm management and Snowden also share significant concerns that the sampling tower approach for the Valley of the Kings deposit may be flawed.
Snowden's Response
Given the heterogeneous nature of the Valley of the Kings mineralization, Snowden has consistently advised Pretivm that the entire 10,000-tonne bulk sample needs to be processed prior to completing a reconciliation that can be considered robust. Dr. Simon Dominy of Snowden is reviewing the sample theory underlying Strathcona's sampling protocols for the sample tower and will be providing a formal expert opinion to Pretivm. Dr. Dominy has noted that he concurs with the current approach of submitting the entire bulk sample (as batches) for full processing through the Montana plant, and has advised that such an approach is always the best route to fully evaluate bulk samples and/or trial mining parcels.
Dr. Dominy has provided a preliminary report to Pretivm that covers several areas of consideration for the evaluation of the design of the sampling Program. This includes the appropriate application of mineralisation characterization study, and the difficulties in achieving representative samples in a high-nugget coarse gold environment.
Dr. Dominy is a dual qualified mining geologist-engineer with 25 years of experience, across mine operations, academic research and consulting. He has an extensive global track-record of auditing, designing and managing gold sampling and assaying programmes. He is a leader in the sampling of coarse gold deposits, and consulted, lectured and published widely on the topic. Recent sampling assignments have included: audits and reviews; integrated studies of ore characterisation, gold deportment and metallurgical testing; sample size determination; sample protocol design and optimisation; the application of the Theory of Sampling; metallurgical plant sampling; metallurgical sampling; and grade control systems. He also has extensive practical experience in surface and underground bulk sampling/trial mining programme design, planning, management and interpretation.
Pretivm's Position
Pretivm maintains that it conceived of the Valley of the Kings bulk sample excavation and associated work as an opportunity to compile and analyze all the possible data which could be generated by a multi-tiered exploration program constrained by the proscribed legislated limit of a 10,000-tonne excavation. Integral to the Program design is the element of corroboration and assimilation for all input data to ensure that any analysis of the deposit will result in robust conclusions about the nature and the extent of the gold mineralization in the Valley of the Kings. It was on this basis that it engaged Strathcona and Snowden, two well-regarded firms, to fulfill their roles as independent experts and act in collaboration on the Program.
"We are disappointed by Strathcona's decision to withdraw prematurely from the bulk sample program," said Robert Quartermain, Pretivm's Chief Executive Officer. "We are satisfied with the results of the initial bulk sample processing, and are confident that the results from the mill will provide the conclusive outcome that our investors expect. The underground drilling and associated development to date has demonstrated that the Valley of the Kings deposit contains significant high-grade gold mineralization."
Independent Qualified Persons from Snowden are responsible for the review and sign-off of the milling and processing component of the Program, and will issue a final report on its completion.
As previously disclosed, the total amount of gold and silver produced by the mill will be reported on the completion of processing. An updated Mineral Resource estimate for the Valley of the Kings incorporating all 2013 underground and surface drilling and milling results will be prepared following the receipt of all assay data. The updated resource estimate will incorporate learnings from the bulk sample evaluation as well as from additional drilling completed during the underground program so that the confidence and the robustness of the mineral resource estimate can be maximised.
Ivor Jones (FAusIMM(CP)) of Snowden is an independent Qualified Person, as defined by National Instrument 43-101 and is responsible for the resource evaluation at the Project. Ian I. Chang, M.A.Sc., P.Eng., Vice President, Project Development, Pretium Resources Inc. is the Qualified Person responsible for the Bulk Sample Program processing and Feasibility Study. Kenneth C. McNaughton, M.A.Sc., P.Eng., Chief Exploration Officer, Pretium Resources Inc. is the Qualified Person responsible for the Brucejack Project exploration program. The information in this release which relates to the Brucejack Project has been reviewed and approved for release by Messrs Chang, McNaughton and Jones, and they have consented to the inclusion of the information in this press release in the form and context in which it appears.
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, the preliminary mill results from processing the 426585E cross-cut, the estimated gold to be produced from the bulk sample program, the estimated contained gold in the 426585E cross-cut from the sample tower, the estimated tonnage and gold and silver grades of the 426585E Stopes, 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 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" 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 18, 2013 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.
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
News, VERY GOOD news at first glance - http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aPVG-2114185&symbol=PVG®ion=C
Orbite Aluminae Inc. (ORT.TO)(EORBF) ("Orbite" or the "Corporation") announces that further to today's heavy trading volume and at the request of the Investment Industry Regulatory Organization of Canada (IIROC), the Corporation confirms that it is currently in discussions with the government of Quebec regarding financing alternatives. These discussions are at an early stage, remain subject to several conditions which have yet to be satisfied and may or may not come to fruition. Trading of the Corporation's stock is expected to resume shortly.
PVG +10% $5.17 on that response and/or new drill results released this morning - http://finance.yahoo.com/news/pretium-resources-inc-underground-bulk-090000131.html
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.
Yesterday's 30% drop was completely unjustified. I fully expect it to be rapidly recouped. An absolute gift for anyone looking to get into what I believe is the highest grade and most attractive project in the entire world.
Market reaction to this is absurd. What a gift for those looking to pick up shares.
Yahoo message board seems to be reporting that the John Dooy newsletter issued a sell last night. Explains the high volume selloff with blind selling. Doesn't change the fundamentals of the company.
Wow - Novo just gained a lot more credibility with this NSRPF +8.12% $0.9839
NOVO RESOURCES WELCOMES NEWMONT MINING CORP. AS A NEW SHAREHOLDER
AND ANNOUNCES $4,800,000 RAISED FROM WARRANT EXERCISE
VANCOUVER, September 12, 2013 - Novo Resources Corp. (“Novo” or the “Company;” CNSX: NVO; OTCQX: NSRPF) welcomes Newmont Canada FN Holdings ULC ("Newmont"), a subsidiary of Newmont Mining Corporation, as a new, major shareholder. On September 4, 2013, Newmont announced that it had acquired beneficial ownership of 17.76 million (approximately 35.7% after giving effect to the exercise of certain warrants in connection with the transaction) of the outstanding common shares of Novo pursuant to private agreements with two of the Company’s shareholders. Newmont has reported that it is acquiring the common shares of Novo for investment purposes and may, subject to market conditions, take other actions in respect of Novo, including making additional investments in, or effecting dispositions of, securities of Novo.
Novo also announces that 8,000,000 warrants issued through a private placement on November 30, 2011 (see news release of November 30, 2011) have been exercised for total cash consideration of $4.8 million. The remaining 6,681,200 outstanding warrants will expire at 4pm PST on November 30, 2013. Novo’s cash balance currently stands at approximately $8.26 million.
“We are delighted to welcome Newmont as a new, major shareholder of Novo and to see a substantial number of our outstanding warrants exercised bringing $4.8 million into our treasury,” commented Dr. Quinton Hennigh, President, CEO and Director of Novo Resources. “We view Newmont’s investment in our company as a vote of support for our Pilbara project in Western Australia, and the infusion of cash will allow us to comfortably advance this exciting project.”
About Novo Resources Corp.
Novo’s focus is to evaluate, acquire and explore gold properties. The Company presently has joint ventures earning a 70% interest two exploration properties, Beatons Creek and Marble Bar, situated in Western Australia. For more information, please contact Leo Karabelas at (416) 543-3120 or e-mail leo@novoresources.com .
WOW!
NOVO RESOURCES WELCOMES NEWMONT MINING CORP. AS A NEW SHAREHOLDER
AND ANNOUNCES $4,800,000 RAISED FROM WARRANT EXERCISE
VANCOUVER, September 12, 2013 - Novo Resources Corp. (“Novo” or the “Company;” CNSX: NVO; OTCQX: NSRPF) welcomes Newmont Canada FN Holdings ULC ("Newmont"), a subsidiary of Newmont Mining Corporation, as a new, major shareholder. On September 4, 2013, Newmont announced that it had acquired beneficial ownership of 17.76 million (approximately 35.7% after giving effect to the exercise of certain warrants in connection with the transaction) of the outstanding common shares of Novo pursuant to private agreements with two of the Company’s shareholders. Newmont has reported that it is acquiring the common shares of Novo for investment purposes and may, subject to market conditions, take other actions in respect of Novo, including making additional investments in, or effecting dispositions of, securities of Novo.
Novo also announces that 8,000,000 warrants issued through a private placement on November 30, 2011 (see news release of November 30, 2011) have been exercised for total cash consideration of $4.8 million. The remaining 6,681,200 outstanding warrants will expire at 4pm PST on November 30, 2013. Novo’s cash balance currently stands at approximately $8.26 million.
“We are delighted to welcome Newmont as a new, major shareholder of Novo and to see a substantial number of our outstanding warrants exercised bringing $4.8 million into our treasury,” commented Dr. Quinton Hennigh, President, CEO and Director of Novo Resources. “We view Newmont’s investment in our company as a vote of support for our Pilbara project in Western Australia, and the infusion of cash will allow us to comfortably advance this exciting project.”
About Novo Resources Corp.
Novo’s focus is to evaluate, acquire and explore gold properties. The Company presently has joint ventures earning a 70% interest two exploration properties, Beatons Creek and Marble Bar, situated in Western Australia. For more information, please contact Leo Karabelas at (416) 543-3120 or e-mail leo@novoresources.com .
Highest share price since Feb.!
Pretivm drill results rated best this week at Gradewise
http://www.gradewise.net/news-releases/best-this-week
And the top 2 spots for the month!
http://www.gradewise.net/news-releases/best-this-month
I doubt pennies for ORT, but you never know. Thankfully Orbite has remained only on my watch list as I waited for them to get their financing and get their plant running effectively. I would think it likely that those things will still happen, but they obviously still have some hurdles to get over.
Pretium's Brucejack receives financing for assessment
2013-08-14 15:36 ET - News Release
Ms. Sofie McCoy-Astell of the Canadian Environmental Assessment Agency reports
BRUCEJACK GOLD MINE PROJECT - FEDERAL FUNDING ALLOCATED TO PARTICIPATE IN THE ENVIRONMENTAL ASSESSMENT
The Canadian Environmental Assessment Agency has allocated a total of $60,499.98 to two applicants to support their participation in the federal environmental assessment of Pretium Resources Inc.'s proposed Brucejack gold mine project located in British Columbia.
This financing was made available to the public and aboriginal groups through the participant funding program administered by the agency. It will enable participation in coming steps of the environmental assessment, which include reviewing and providing comments on the environmental impact statement and on the draft environmental assessment report.
DETAILS OF ALLOCATION
Applicant Allocation
Nisga'a Nation, as represented by the Nisga'a Lisims government $49,999.98
Metis Nation British Columbia $10,500.00
Total $60,499.98
For more information on the participant funding program, the federal environmental assessment process and the project, please visit the agency's website (registry reference No. 80034).
As part of the strengthened and modernized Canadian Environmental Assessment Act 2012 put in place to support the government's responsible resource development initiative, the agency is conducting a federal environmental assessment of this project.
This project is being assessed using a science-based approach. If it is permitted to proceed to the next phase, it will continue to be subject to Canada's strong environmental laws, rigorous enforcement and follow-up, and increased fines.
The proposed project
Pretium Resources is proposing the construction, operation and decommissioning of a gold-silver underground mine located approximately 65 kilometres north-northwest of Stewart, B.C. The proposed project would produce approximately 16 million tonnes of mineralized material at a rate of up to 2,700 tonnes per day over a minimum 16-year mine life.
The Canadian Environmental Assessment Agency administers the federal environmental assessment process, which identifies the environmental effects of proposed projects and the measures to address those effects, in support of sustainable development.
Orbite Updates Status of Offering
http://finance.yahoo.com/news/orbite-updates-status-offering-210100242.html
Orbite shares tank on operational problems, cash needs
http://www.mineweb.com/mineweb/content/en/mineweb-junior-mining?oid=201115&sn=Detail
Exeter XRA +42.43% $1.04!
What is going on?
Nice move so far today on top of yesterday!
Int'l Speculator upgrades Pretium Resources to buy
2013-06-28 18:59 ET - In the News
The International Speculator, in its June 6, 2013, issue, upgrades Robert Quartermain's Pretium Resources Inc. (recently $8.67) to a buy, officially, "Buy first tranche." The newsletter said buy on Feb. 7, 2011, at $6.42. It then said sell some -- perhaps half -- on March 4, 2011, at $12.33. Assuming a $1,000 investment, the half sell yielded a one-month profit of $439 and left shares, which cost $500, worth $949. It then said buy three more times between Sept. 5, 2011, and Dec. 6, 2012, at prices ranging from $9.96 to $16.69. Assuming three more $1,000 purchases, and taking into consideration the $500 investment remaining from the Feb. 7, 2011, sell, the $3,500 position is worth $2,679. (On May 6, 2013, the newsletter downgraded its advisory on Pretium to hold from buy.) This month, the writer noted the "pro-business" Liberals won the election in British Columbia. Pretium's main promotion is its Valley of the Kings project, part of the Brucejack gold property in Northern B.C. Fellow newsletter writer Jay Taylor said buy Pretium three times between Jan. 17, 2011, and Sept. 17, 2012, at prices ranging from $6.45, to $15.55, in his Gold, Energy & Tech Stocks.
Orbite Announces Filing of Final Short Form Prospectus
http://finance.yahoo.com/news/orbite-announces-filing-final-short-183600146.html
MONTREAL, QUEBEC--(Marketwired - July 16, 2013) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Orbite Aluminae Inc. (ORT.TO)(EORBF) ("Orbite" or the "Corporation") announced today that it has filed a final short form prospectus (the "Prospectus") with the securities regulatory authorities in each of the provinces of Canada, in connection with the "best efforts" marketed offering of class A shares and warrants of Orbite (the "Offering").
As a result of today's Prospectus filing, the Offering is now expected to close on or about July 22, 2013, subject to regulatory approvals.
The Corporation anticipates raising minimum gross proceeds of C$35 Million and maximum gross proceeds of C$50 Million, at a price of C$0.70 per unit, each unit consisting of one class A share and one-half class A share purchase warrant, each whole warrant being exercisable at an exercise price of C$1.00 for a period of 36 months following issuance (the "Units"). In addition, the Corporation has granted the Agents the option to purchase up to that number of additional Units as is equal to 15% of the number of Units issued under the Offering during the 30-day period immediately following the Closing Date. The Units will be offered in Canada by short form prospectus, and in other jurisdictions on a private placement basis, exempt from any prospectus, registration or other similar requirements.
The net proceeds from the Offering will be used primarily to complete the Corporation's high-purity alumina plant located in Cap-Chat, Quebec, and for general corporate and working capital purposes.
A copy of the Corporation's final short form prospectus is available on the SEDAR website at www.sedar.com.
This release does not constitute an offer for sale of securities nor a solicitation for offers to buy any securities. The securities referred to in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities law and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. persons", as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Orbite
Orbite Aluminae Inc. is a Canadian Corporation with innovative and proprietary processes that is expected to produce alumina and other high-value by-products, such as rare earth and rare metal oxides, at one of the lowest costs in the industry, without generating any wastes, using feedstocks that include aluminous clay, kaolin, nepheline, bauxite, red mud and fly ash. Orbite is currently operating and optimizing its first commercial high-purity alumina (HPA) production plant in Cap-Chat, Québec. Orbite has completed the basic engineering for a proposed smelter-grade alumina (SGA) production plant, which would use clay mined from its Grande-Vallée deposit. Orbite signed an exclusive worldwide collaborative agreement with Veolia Environmental Services for the remediation of red mud using the Orbite processes with the intent to construct a Veolia-operated plant. The Corporation has an intellectual property portfolio that contains 14 IP families and owns the intellectual property rights to nine patents and 40 pending patent applications in 10 different countries.
Forward-looking statements
Certain information contained in this document may include "forward-looking information". Without limiting the foregoing, the information and any forward-looking information may include statements regarding projects, costs, objectives and future returns of the Corporation or hypotheses underlying these items. In this document, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking statements and information are based on information available at the time and/or the Corporation management's good-faith beliefs with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Corporation's control. These risks uncertainties and assumptions include, but are not limited to, those described in the section of the Management's Discussion and Analysis (MD&A) entitled "Risk and Uncertainties" as filed on May 15, 2013 on SEDAR, and could cause actual events or results to differ materially from those projected in any forward-looking statements. The Corporation does not intend, nor does it undertake, any obligation to update or revise any forward-looking information or statements contained in this document to reflect subsequent information, events or circumstances or otherwise, except as required by applicable laws.
.
.
Contact:.
.
ORBITE
Marc Johnson, Vice President, Corporate Development
514-744-6264, ext. 605
info@orbitealuminae.com
TMX EQUICOM
Mark Lakmaaker, External Investor Relations Consultant
416-815-0700, ext. 248
mlakmaaker@tmxequicom.com
For Media Inquiries:
TMX EQUICOM
Shaun Smith, External Media Relations Consultant
416-815-0700, ext. 252
ssmith@tmxequicom.com
Everyday I wake up and think - Is today the day that Pretivm gets a take over offer? Could be soon. This is an amazing asset that is extremely cheap at the moment.
Bob Quartermain: “Gold Is A Rightful Part Of An Investment Strategy—But One Has To Be Patient”
http://bullmarketthinking.com/bob-quartermain-gold-is-a-rightful-part-of-an-investment-strategy-but-one-has-to-be-patient/
I had the great opportunity last week to connect with legendary ‘mine-finder’, Bob Quartermain, President and CEO of Pretium Resources.
It was a fascinating conversation, as Bob spoke on mineral discovery strategy, turning discoveries into wealth during his 36-year career, as well as his observations and thoughts on the gold market.
When asked how he’s been able to repeatedly find some of the world’s largest and highest grade gold and silver deposits throughout his career, Bob said it’s all about, “Applying good, sound geology, having a thesis, and be willing to invest in [that] thesis. But if it’s wrong—then being able to walk away. It’s a philosophy [and discipline] I learned early on working with Teck Corporation…[that] mining is a business, and you have to have the right style of mineralization in order to be able to economically mine.”
A geologist by training, Bob indicated that great mineral deposits are found by first, “Look[ing] at the underlying geology…If you have a large altered system1, lots of fluids [will have] moved through it, and minerals are deposited at the surface from magma chambers2, or perhaps [by] erosion from other areas…[So] you want to look for those large alteration zones…and then within those areas it’s about [form]ing a thesis or an opinion, being focused on that conviction, and continuing to drill and test.”
Fitting right into that geological ‘narrative’ Bob explained, is Pretium Resource’s Brucejack mineralization, in that, “[It] has come up from hydrothermal solutions at depth…and over the course of two years, has generated almost 80 [drill] hits greater than a kilo [per ton of gold]…One of the highest grades we had was about 41 kilograms of gold, plus 27 kilograms of silver, across about a half a meter. So that’s somewhere in the order of 1,200 ounces of gold [per ton] over a couple of feet. I’ve never seen those types of grades in my career(see photo below).”
(click to enlarge)
It was in the careful search and study of these types of exceptional drill hits that allowed Bob to take his former company, Silver Standard Resources, from a $2 million market cap, to nearly $2 billion before retiring from the company in 2010.
In reflecting on that wealth creation, Bob noted that, “What I’ve liked though my career has been discovery, because the way to create shareholder value is by using the drill bit, and discovering something in the ground—and there can be a lot of value driven from that discovery.”
When asked to comment on today’s tough resource market, given his 36 successful years in the business, Bob explained the key to overcoming difficult markets is in, “Having the right assets,” but more importantly, “the perseverance, the conviction, and the ability…to go through these high and low metal cycles.”
In moving on to the subject of physical gold; Bob is known for traveling around the world regularly, updating shareholders of Pretium on operational progress of the company. During his free time on those trips—he visits gold shops.
“I recently came back from a trip to the Middle East,” Bob explained, “When the gold price (on paper), was falling to recent lows of $1350. And when I [went] to the gold souks in the evening either in Doha or in Dubai, it was just full of people in there, trying to buy gold jewelry and bars. So there was this real disconnect, between the physical attraction for gold, and what was going on in the paper markets.”
Further reflecting on the fundamentals of gold, Bob added that, “I’ve been a precious metals bull all my life…[and a] component of my portfolio is in physical gold…it always has a bid, it’s transportable, you can carry it, and you can turn it into cash fairly quickly. You can sell a gold equity and you may need a few days of settlement on that, [but] if you take a gold bar into a bank, you get immediate cash for it.”
As a final parting word for investors considering gold or mining company investments, Bob said, “I think gold continues to have a rightful place as part of an investment strategy…[but] one has to be patient…and take a very long-term view”
——
This was a powerful interview with one of the world’s top builders of wealth in the mining space, and is required listening for students and investors of the precious metals markets.
To listen to the interview, click the following link and/or save to to your desktop:
>>Interview with Bob Quartermain (MP3)
To learn more about Bob and Pretium Resources, visit: Pretium.com
Enjoy the interview? Please consider sharing it with friends, family, and your favorite chat forum!
Thanks,
Tekoa Da Silva,
Bull Market Thinking
1. ["Altered System, Alteration" - Any area of rock which has been physically or chemically changed, "altered" if you will, following its initial creation.]?
2. ["Magma Chamber" - A large underground pool of liquid rock (called "magma"), which when given enough time, will build in pressure, shatter/fracture surrounding rock, and move up towards the surface. Illustration.]?
Pretium makes strong case for Brucejack in feasibility study
http://www.mineweb.com/mineweb/content/en/mineweb-exploration?oid=193908&sn=Detail
HALIFAX, NS (MINEWEB) -
Pretium Resources released details of a feasibility study of its high grade Brucejack gold project on Tuesday.
As Pretium sees it, a 2,700 tonne per day mine would produce 7.1 million ounces gold over a 22 year mine life. Grades would be especially high early on, benefiting quicker payback on what Pretium estimates would be a $664 million mining project to build.
Running the project through an economic scenario at $1,350 gold and $20 per ounce silver Pretium said Brucejack yielded a $2.7 billion net present value (discounted at five percent and before tax). Pretium also included economics at $800 gold, which you don't often see these days. Here the results are notable still, with Pretium estimating net present value at $602 million.
The strength in Brucejack lies especially in grade. Over life of mine gold grade would be 12 g/t gold but 14 g/t gold in the first ten yeas. Grades would top 17 g/t gold in year five of mining, according to a table published by Pretium.
Pretium forecast all-in cash costs $508 per ounce gold.
As it stands, Pretium is in the midst of preparing to submit permitting documents to Canadian regulatories. Meantime it is excavating a 10,000 tonne bulk sample that will serve as an important test of Pretium's high grade Valley of the Kings deposit, the core of the proposed Brucejack gold project.
RECENT RAMP PIC
Ramp accessing Valley of the Kings deposit.
VALLEY OF THE KINGS STOCKWORK MINERALIZATION
Valley of the Kings stockwork mineralization, known to host high grade gold at Brucejack. (Image source: Pretium)
Pretium is drilling some 190 drillholes from underground stations having driven a ramp into the heart of the Valley of the Kings deposit earlier this year.
Assuming permitting and project funding go smoothly, Pretium has said it hopes to start building Brucejack in late 2014, with first production in 2016.
Pretivm PVG +7.77% $9.02 on more great drill results. The feasibility study for a 2,700 tonnes per day underground mine at Brucejack is nearing completion and is expected by the end of the month.
This is the safest bet on a project actually becoming a mine in the entire world.
http://finance.yahoo.com/news/pretium-resources-inc-valley-kings-090000013.html
Pretium drills 17.5 m of 33.2 g/t Au at Kings
2013-06-06 06:18 ET - News Release
Mr. Robert Quartermain reports
PRETIUM RESOURCES INC.: VALLEY OF THE KINGS BULK SAMPLE DRILLING CONTINUES TO CONFIRM PROJECTION OF MINERALIZED DOMAINS
Pretium Resources Inc.'s initial underground drilling as part of the Valley of the Kings bulk sample program has intersected visible gold, and continues to confirm the projection of high-grade gold mineralized domains. (See the table for assays from the seven holes drilled on Section 426600.)
Selected highlights from hole VU-02 include:
33.20 grams of gold per tonne uncut over 17.50 metres, including 988.0 grams of gold per tonne uncut over 0.50 metre and 117.5 grams of gold per tonne over 0.50 metre.
Hole VU-02 was drilled on Section 426600 as part of the first fan of drilling, at 10.3 degrees below the previously reported horizontal hole VU-01 (see news release dated May 28, 2013). This fan was drilled before commencing the Section 426600 crosscut now being excavated across the mineralized domains. The drill will be repositioned shortly to continue fan drilling.
Approximately 15,000 metres of underground drilling in 190 holes will be completed as part of the Valley of the Kings bulk sample program. The drilling will define the portions of the two domains of mineralization being tested by the program along 120 metres of strike length, and vertically for 60 metres above and 60 metres below the 1,345-metre level of the Valley of the Kings. The drilling will be completed on sections 7.5 metres apart along the 120 metres of strike length. Each section will be drilled from the north or south, with drill holes at 15-metre centers vertically at the margins of the mineralized domains. The drill program will run concurrently with the excavation of the 10,000-tonne bulk sample scheduled to begin in mid-June and be completed in August.
Strathcona Mineral Services Ltd. of Toronto has been engaged as the independent qualified person to oversee and report on the Valley of the Kings bulk sample program.
Assay results from underground drilling will be reported as they are received. Strathcona's report on the bulk sample program is expected later in the year after compilation of all data.
The feasibility study for a 2,700-tonne-per-day underground mine at Brucejack is nearing completion and is expected by the end of the month.
VALLEY OF THE KINGS BULK SAMPLE DRILL RESULTS,
JUNE, 2013 (VU-01 TO VU-07)(1,2,3)
Hole From To Interval Gold Silver Cap-
No. (metres) (metres) (metres) (g/t) (g/t) ping
VU-02 1 Au
sample
27.00 44.50 17.50 17.25 25.07 cut
or 27.00 44.50 17.50 33.20 25.07 Uncut
incl 27.55 28.05 0.50 988.00 493.00 Uncut
incl 41.15 41.65 0.50 117.50 66.10
VU-03 30.00 40.00 10.00 3.85 8.75
incl 30.00 30.50 0.50 42.30 65.50
VU-04 29.50 38.50 9.00 1.44 6.27
VU-05 29.00 42.00 13.00 1.65 6.76
VU-06 37.00 44.00 7.00 3.24 5.02
incl 40.00 41.57 1.57 10.64 9.32
VU-07 30.00 45.50 15.50 10.07 18.22
incl 35.89 36.39 0.50 271.00 257.00
51.00 59.00 8.00 10.85 14.44
incl 53.95 54.45 0.50 140.00 57.60
(1) True thickness to be determined
(2) Unless otherwise indicated as uncut, all gold assays
over 421 g/t were cut to 421 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 multidigestion with ICP
finish and fire assay with AA finish for gold. Samples
over 100 parts per million 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.
Kenneth C. McNaughton, MASc, PEng, chief exploration officer, Pretium Resources, is the qualified person responsible for the Brucejack project exploration program.
Pretium Resources Inc.: Initial Valley of the Kings Underground Drill Hole Confirms Projection of Mineralized Domains
http://finance.yahoo.com/news/pretium-resources-inc-initial-valley-090000730.html
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 28, 2013) - Pretium Resources Inc. (PVG.TO)(PVG) ("Pretivm") is pleased to report that the first underground hole drilled as part of the Valley of the Kings bulk sample program intersected visible gold and confirms the projection of high-grade gold mineralized domains. (See Table 1 below for assays.)
Selected highlights from hole VU-01 include:
•21.57 grams of gold per tonne over 12.00 meters, including 388 grams of gold per tonne over 0.50 meters and 99.7 grams of gold per tonne over 0.50 meters;
•8.38 grams of gold per tonne over 2.00 meters, including 31.10 grams of gold per tonne over 0.40 meters.
Pilot hole VU-01 was drilled horizontally through the center of the Valley of the Kings section 426600 cross-cut at the 1,345-meter level, and intersected the interpreted mineralized domains.
Valley of the Kings Bulk Sample Program
The Valley of the Kings Bulk Sample Program (the "Program") consists of two elements: the excavation of a 10,000-tonne bulk sample and a 15,000-meter underground drill program. The Program has been designed to test the full widths of two of the domains of mineralization used to estimate the November 2012 Valley of the Kings Mineral Resource. By testing the two domains of mineralization, the Program will confirm that the resource model is accurately projecting the range of the grade distribution in the 10-meter blocks that make up the Mineral Resource estimate within the bulk sample area. As a result, the Program will target the full range of the projected resource block grades which span from zero grams of gold per tonne to in excess of 60 grams of gold per tonne.
High-grade gold resources (5.0 grams of gold equivalent per tonne cut-off) for the Valley of the Kings now total 8.5 million ounces of gold in the Indicated Mineral Resource category (16.1 million tonnes grading 16.4 grams of gold per tonne) and 2.9 million ounces of gold in the Inferred Mineral Resource category (5.4 million tonnes grading 17.0 grams of gold per tonne).
Strathcona Mineral Services Ltd. of Toronto has been engaged as the independent Qualified Person to oversee and report on the Program.
Excavation of Bulk Sample
The 1,345-meter level, centered at the 426600 cross-section of the Valley of the Kings, was selected as the bulk sample location based on Strathcona's requirements that the bulk sample be excavated from an area representative of the (a) drillhole density that informs the Indicated Mineral Resource, (b) average grade of the Indicated Mineral Resource and the global resource for Valley of the Kings, (c) proportion of low-grade, high-grade and extreme grade populations in the overall Indicated Mineral Resource and (d) style of stockwork gold mineralization characteristic of the Valley of the Kings.
The 10,000-tonne bulk sample will be excavated from four cross-cuts (excavations perpendicular to the two domains of mineralization, spaced at 30-meter centers) and one lateral drift (an excavation extending along the strike length of one of the domains of mineralization). The excavation of the 10,000-tonne bulk sample is scheduled to begin in mid-June and be completed in August. The underground development necessary to support the excavation of the bulk sample is currently underway.
Sample Tower and Mineral Processing
The 10,000-tonne bulk sample will be excavated in approximately 100-tonne rounds. Each round will be crushed and run through a sample tower currently assembled on site. The sample tower has been designed and constructed to extract two 30-kilogram representative samples from each 100-tonne round processed by the sample tower. The representative samples extracted by the sample tower will be assayed, and the assay results will be reported by Strathcona in their report on the Program.
The remainder of the 10,000-tonne bulk sample will be shipped to a mill for processing. The mill will use a similar circuit, gravity and flotation, to extract gold and silver from the bulk sample as contemplated in the feasibility study for the Brucejack Project currently underway. The bulk sample remainder is expected to be milled in the third and fourth quarters of this year.
Bulk Sample Drilling
Approximately 15,000 meters of underground drilling in 190 holes will be completed as part of the Program. The drilling will define the portions of the two domains of mineralization being tested by the Program along 120 meters of strike length, and vertically for 60 meters above and 60 meters below the 1,345-meter level of the Valley of the Kings. The drilling will be completed on sections 7.5 meters apart along the 120 meters of strike length. Each section will be drilled from the north or south, with drill holes at 15-meter centers vertically at the margins of the mineralized domains. The supporting infrastructure will include an initial cross-cut through the Valley of the Kings along section 426600, and the north exploration drill drift. The drill program will run concurrently with the mining of the bulk sample.
For views of the bulk sample underground drilling program at the Valley of the Kings please visit the following link - http://media3.marketwire.com/docs/pvg528_F1-2.pdf.
Program Reporting
Assay results from underground drilling will be reported as they are received. Strathcona's report on the Program is expected later in the year after compilation of all data. The amount of gold and silver produced by the mill will be reported following the completion of the milling of the bulk sample.
Table 1: Valley of the Kings Bulk Sample Drill Results, May 2013 (VU-01)(1,2,3)
Hole
No.
Collar
Coords.
Dip/
Azimuth
From
(meters)
To
(meters)
Interval
(meters)
Gold
(g/t)
Silver
(g/t)
VU-01
6258007N
426599E
-0.3/180
32.00
44.00
12.00
21.57
17.50
incl
42.75
43.25
0.50
388.00
279.00
incl
43.50
44.00
0.50
99.70
50.00
64.00
66.00
2.00
8.38
58.92
incl
65.60
66.00
0.40
31.10
22.10
(1) True thickness to be determined.
(2) Unless otherwise indicated as uncut, all gold assays over 421 g/t were cut to 421 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 along strike and at depth. A feasibility study for a high-grade underground mine in Brucejack's Valley of the Kings is underway and expected this quarter.
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.
.
.
Contact:.
.
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
Good news for mining in British Columbia as NDP loses election.
PVG now up 13.16%!
Miners in general are extending higher despite gold and silver coming off their morning highs. Encouraging sign if it keeps up!
PVG +10.14% $7.28
Pretium Resources Inc.: Underground Ramp Reaches Valley of the Kings
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 8, 2013) - Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm") is pleased to announce that the underground access ramp has reached the Valley of the Kings at the targeted 1,345-meter level of the 426600 cross-section. With the access ramp from the West Zone portal now completed, the development and installation of supporting infrastructure for the planned Bulk Sample Program and associated underground drilling at the Valley of the Kings will begin.
Underground Drilling
Approximately 15,000 meters of underground drilling will be completed as part of the Bulk Sample Program. After the initial cross-cut along section 426600, the north drill drift will be developed, and drilling will be conducted at 7.5-meter and 15-meter centres along 120 meters of strike length, and at 15-meter centres vertically for 60 meters above and 60 meters below the 1,345-meter level of the Valley of the Kings. Drilling is planned to commence later this month, prior to excavating the bulk sample, and will run concurrently with the excavation of the bulk sample. Results from drilling will be reported as they are received.
Bulk Sample Program
The sample tower and related equipment for the Bulk Sample Program in the Valley of the Kings has been transported over the recently-completed all-weather access road into Brucejack camp and is now on site. Strathcona Mineral Services Ltd. of Toronto has been engaged as the independent Qualified Person to oversee and report on the 10,000-tonne bulk sample.
The 1,345-meter level at the 426600 cross-section of the Valley of the Kings was selected as the bulk sample location based on Strathcona's requirements that the bulk sample be excavated from an area representative of the (a) drillhole density that informs the Indicated Mineral Resource, (b) average grade of the Indicated Mineral Resource and the global resource for Valley of the Kings, (c) proportion of low-grade, high-grade and extreme grade populations in the overall Indicated Mineral Resource and (d) style of stockwork gold mineralization characteristic of the Valley of the Kings. Excavation of the bulk sample is scheduled to begin in early June, with the final report expected later in the year after compilation of all bulk sample data.
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 along strike and at depth. A feasibility study for a high-grade underground mine in Brucejack's Valley of the Kings is underway and expected this quarter.
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.
Contact Information:
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
+10%!
Pretium Resources Inc.: Underground Ramp Reaches Valley of the Kings
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 8, 2013) - Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm") is pleased to announce that the underground access ramp has reached the Valley of the Kings at the targeted 1,345-meter level of the 426600 cross-section. With the access ramp from the West Zone portal now completed, the development and installation of supporting infrastructure for the planned Bulk Sample Program and associated underground drilling at the Valley of the Kings will begin.
Underground Drilling
Approximately 15,000 meters of underground drilling will be completed as part of the Bulk Sample Program. After the initial cross-cut along section 426600, the north drill drift will be developed, and drilling will be conducted at 7.5-meter and 15-meter centres along 120 meters of strike length, and at 15-meter centres vertically for 60 meters above and 60 meters below the 1,345-meter level of the Valley of the Kings. Drilling is planned to commence later this month, prior to excavating the bulk sample, and will run concurrently with the excavation of the bulk sample. Results from drilling will be reported as they are received.
Bulk Sample Program
The sample tower and related equipment for the Bulk Sample Program in the Valley of the Kings has been transported over the recently-completed all-weather access road into Brucejack camp and is now on site. Strathcona Mineral Services Ltd. of Toronto has been engaged as the independent Qualified Person to oversee and report on the 10,000-tonne bulk sample.
The 1,345-meter level at the 426600 cross-section of the Valley of the Kings was selected as the bulk sample location based on Strathcona's requirements that the bulk sample be excavated from an area representative of the (a) drillhole density that informs the Indicated Mineral Resource, (b) average grade of the Indicated Mineral Resource and the global resource for Valley of the Kings, (c) proportion of low-grade, high-grade and extreme grade populations in the overall Indicated Mineral Resource and (d) style of stockwork gold mineralization characteristic of the Valley of the Kings. Excavation of the bulk sample is scheduled to begin in early June, with the final report expected later in the year after compilation of all bulk sample data.
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 along strike and at depth. A feasibility study for a high-grade underground mine in Brucejack's Valley of the Kings is underway and expected this quarter.
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.
Contact Information:
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
Another update form Bob: http://www.321gold.com/editorials/moriarty/moriarty050213.html
Apparently they put out a 43-101 yesterday. They need to get on a real exchange and put out some official press releases.
Junior mining stocks see record insider buying
http://www.theglobeandmail.com/globe-investor/inside-the-market/junior-mining-stocks-see-record-insider-buying/article11638717/
Details: http://www.theglobeandmail.com/globe-investor/inside-the-market/article11638897.ece/BINARY/INK.pdf
Gold and silver higher, but miners down 1%
Rio Alto down 3% on 3x normal volume on no news... odd day so far
Yes looks good - thanks!
Hello #7. I have missed you.
AXU -4.72% $2.02
As far as silver producers go, Alexco is looking pretty attractive to me here...anyone see any red flags with them?