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Pretium works to conquer the Valley of the Kings
http://www.northernminer.com/news/pretium-works-to-conquer-the-valley-of-the-kings/1001871438/
VANCOUVER — In a drive to complete a feasibility study on its wholly-owned Brucejack gold-silver project 65 kilometers north of Stewart, B.C., Vancouver-based Pretium Resources (PVG-T, PVG-N) released an updated resource estimate on its Valley of the Kings zone on Nov. 20.
Noted for its bonanza gold intercepts, the Valley of the Kings was the site of a 99,600-metre, 270-hole drill program during 2012. Due to recent geological interpretation Pretium was also able to incorporate 6,300 metres of drilling at its Galena Hill zone — which is now viewed as an extension of the Valley of the Kings — into a single resource estimate. Data at the Valley of Kings now covers 490 drillholes over 174,182 meters.
As a result of its 2012 program Pretium increased indicated resources at the Valley of the Kings by 66% to 16.1 million tonnes grading 16.4 grams gold per tonne for 8.5 million contained oz.
Drilling collared at the eastern and western boundaries of the deposit marginally bumped inferred resources to 5.4 million tonnes averaging 17 grams gold for 2.9 million oz., though the company was more focused on boosting indicated tonnage in anticipation of its upcoming feasibility study.
Silver resources now sit at 7.3 million indicated oz. at an average grade of 14.2 grams. All modelling assumes a cut-off grade of 5 grams gold equivalent per tonne.
Pretium reports that indicated resources at the Valley of the Kings are now defined over roughly 600 metres of total strike length, and extend to depths in excess of 1,000 metres. A portion of the deposits strike length was not incorporated into the updated resource estimate, and mineralization remains open to the east and west — along strike and at depth.
Pretium's Brucejack property now hosts five defined gold-silver zones, including: the West Zone, Valley of the Kings, Bridge Zone, Gossan Hill, and Shore zone. The current resource lies predominantly in the Valley of the Kings and West zone, with 2012 drilling aimed at delineating the Valley of the Kings and Galena Hill extension.
Pretium initiated an underground exploration program in the third quarter designed to access the Valley of the Kings and establish continuity in the deposits higher-grade mineralization.
Currently in its first phase, the program will involve slashing out existing West zone underground workings to drive a 450-metre southern decline to the Valley of the Kings. The company intends to bulk sample roughly 10,000 tonnes of material from the deposit in the first half of 2013.
A feasibility study is scheduled to be released within roughly eight months. Pretium is modelling an underground mine with a throughput capacity of 2,700 tonnes per day, assuming long-hole stoping and cemented-paste backfill. Stoping will incorporate a combination of longitudinal and transverse mining depending on zone width and orientation.
Pretium reported a working capital position totalling roughly $60 million to end the third quarter after the company issued 1.15 million flow-through shares during a private placement at a price of $18 per share for gross proceeds of $20.7 million.
The resource announcement resulted in a modest market jump, as Pretium's shares closed Nov. 20 up 1.4% or 18¢ at $12.95. The company hit a daily high of $13.25 per share during mid-day trading. Pretium has 94 million shares outstanding and maintains a $1.23 billion press-time market capitalization.
Pretivm Resources Inc.: Indicated Gold Resources Increase by 66% at the Valley of the Kings
http://finance.yahoo.com/news/pretivm-resources-inc-indicated-gold-100000468.html
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov 20, 2012) - Pretium Resources Inc. (PVG.TO)(PVG) ("Pretivm") is pleased to report the 2012 Valley of the Kings Mineral Resource estimate for its wholly-owned Brucejack Project, completed by Snowden Mining Industry Consultants ("Snowden") independent Qualified Persons. Indicated Mineral Resources in the Valley of the Kings increased by 66% to 8.5 million ounces of gold at a cut-off grade of 5 grams of gold equivalent per tonne since the interim September 7, 2012 Mineral Resource estimate.
Valley of the Kings High-Grade Gold Mineral Resources
High-grade gold resources in the Valley of the Kings (5.0 g/t gold-equivalent cut-off) 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).
The Mineral Resource estimate incorporates data from all drilling to date, including 2012 drilling comprising 99,632 meters in 270 drill holes targeted at the Valley of the Kings. Recent geological interpretation shows Galena Hill to be an extension of the Valley of the Kings. Accordingly, Galena Hill drilling and Mineral Resources have been incorporated into the Valley of the Kings. Galena Hill comprises 6,284 meters in 14 holes of the total 2012 drilling noted above (plus historical drilling), and contributes 574,000 ounces of gold to the 2012 Valley of the Kings Indicated Mineral Resource. An isometric view of the Valley of the Kings block model is available at http://media3.marketwire.com/docs/pvg20-VOK.pdf.
The Indicated Mineral Resource is defined over approximately 600 meters of the total strike length of the Valley of the Kings, which now extends to over 1,000 meters. In addition to the potential of the defined strike length not incorporated into the Indicated Mineral Resource, the Valley of the Kings remains open to the east and west along strike and at depth. A plan view of the Valley of the Kings highlighting the Indicated Mineral Resource is available at http://media3.marketwire.com/docs/pvg20-plan.pdf.
Table 1: Valley of the Kings Mineral Resource estimate - November 2012(1)(4)
(Based on a cut-off grade of 5.0 grams of gold-equivalent/tonne(5))
Contained(3)
Category
Tonnes
(millions)
Gold
(g/t)
Silver
(g/t)
Gold
(million oz)
Silver
(million oz)
Indicated
16.1
16.4
14.2
8.5
7.3
Inferred(2)
5.4
17.0
15.7
2.9
2.7
(1) Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, marketing, or other relevant issues. The Mineral Resources in this news release were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council.
(2) The quantity and grade of reported Inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these Inferred Resources as an Indicated or Measured Mineral Resource and it is uncertain if further exploration will result in upgrading them to an Indicated or Measured Mineral Resource category.
(3) Contained metal figures and totals may differ due to rounding of figures.
(4) The Mineral Resource estimate stated in Table 1 is defined using 10 m by 10 m by 10 m blocks in the in Valley of the Kings.
(5) The gold equivalent value is defined as AuEq = Au + Ag/53.
Mineral Resource Modeling and Estimation
The November 2012 Mineral Resource estimates for Valley of the Kings were completed by Snowden on behalf of Pretivm. The Mineral Resources are classified as Indicated and Inferred Resources in accordance with the CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council.
Classification is applied based on geological confidence, data quality and grade variability. Areas classified as Indicated Resources are informed by 20 meter by 20 meter to 20 meter by 40 meter drilling. With respect to some of the areas in the high grade zones at the Valley of the Kings that have drill spacing nearing that of the Measured Resource previously reported at West Zone, Snowden has elected to retain the Indicated Resource classification until underground sampling has demonstrated a high level of confidence in these estimates. This is because of the high-grade nature of the mineralization. The remainder of the Mineral Resource is classified as an Inferred Resource where there is some drilling information and the blocks lie within the mineralised interpretation. Areas where there is no informing data and/or the lower grade material that is outside of the mineralised interpretation are not classified as a part of the Mineral Resource.
The Mineral Resources are reported above a cut-off grade of 5.0 grams of gold-equivalent/tonne (5.0 g/t AuEq). The gold-equivalent calculation used is: Au + (Ag/53).
The Brucejack Property comprises several gold-silver mineralised areas. These areas include West Zone, Valley of the Kings, Galena Hill, Bridge Zone, Gossan Hill and Shore Zone. The majority of the Mineral Resource lies within Valley of the Kings and West Zone. West Zone, Gossan Hill, Shore Zone and Bridge Zone were not updated for this Mineral Resource as there has been little additional drilling in these areas. The focus of the 2012 drilling has been on the high grade Valley of the Kings and Galena Hill areas. Recent geological interpretation shows that the area previously covered by Galena Hill is actually an extension of Valley of the Kings, and this area has now been incorporated into Valley of the Kings.
The Valley of the Kings mineralisation is approximately 500 meters south of West Zone. The Valley of the Kings mineralized zone trends approximately west-northwest to east-southeast. Its orientation mirrors that of Electrum Ridge, a pronounced topographic feature near the southern margin of the zone, and drilling to date has extended its strike to over 1,000 meters. The zone is up to 170 meters wide and remains open to the west, beyond the Brucejack fault, at depth and to the east. Surface mapping and Pretivm''s extensive drilling defined a number of lithologic contacts which outline a broad syncline in which fragmental volcanic and clastic sedimentary rocks, along with minor flows of Upper Triassic to Lower Jurassic age appear to plunge moderately to the east.
Pretivm used their interpretation of the lithological units at the Valley of the Kings, together with a nominal 1 to 3 g/t Au grade cut-off to update the mineralised domains for estimation at the Valley of the Kings.
The input data for the Valley of the Kings estimate comprises 490 drillholes for 174,182 meters including 9 historical surface drillholes (579 meters) and 114 surface drillholes completed since the previous September 2012 Mineral Resource (46,944 meters). These figures exclude intervals with no gold values and drillholes outside of the Valley of the King area.
The Valley of the Kings exhibits extremely skewed grade populations where the high grades and the majority of the metal are located in less than 5% of the data, with individual raw gold grades of up to around 41,500 g/t Au. Discussions with Pretivm and analysis of the data indicated the mineralisation can be split into a pervasive background mineralisation and a separate high-grade but discreet mineralisation style. As a result of this population distribution, standard estimation techniques have been found to significantly over smooth the grades.
In order to address the highly skewed nature of the data, Snowden separated the lower grade ''background'' population from the higher grade population within these domains and estimated them independently. All data was composited to the nominal sample length of 1.5 meters prior to analysis and estimation. A threshold of 5 g/t Au was selected to separate the two populations at the Valley of the Kings. The silver data was treated using the same method with a threshold of 50 g/t Ag for Valley of the Kings.
The lower grade population was estimated using ordinary kriging into 10 meter by 10 meter by 10 meter parent blocks. This estimate validates well against the input data.
The higher grade populations were estimated using multiple indicator kriging to control the skewness of the data. Indicator variograms were modelled up to the 95th percentile of the data with a mathematical model used to define the top end of the grade distribution. The threshold for the 95th percentile of the higher grade population is 421 g/t Au for the Valley of the Kings. The result of this estimation method is that, while no top cut is used to limit the higher grades, the higher grades are limited in their influence using a mathematical model based on the higher grade data rather than the individual extreme grades in the dataset. The higher grade populations were estimated into small scale discretized blocks and then reblocked into parent blocks twice the size of those used for the lower grades to further limit the influence of the highest grades in the highest grade areas.
Subsequently, the proportion of the higher-grade mineralisation was estimated into each block and used to combine the two estimates (the low grade portion and the high grade portion) in the determination of the overall block grade. For example, if a block had a probability of 5% high grade then the final block grade would combine 95% of the low grade estimate with 5% of the high grade estimate. The influence of the high-grade population above the 95th percentile is therefore greatly restricted.
The background (non-mineralised) material was estimated using ordinary kriging with a top cut.
The database used to estimate density is based on pulp specific gravity measurements. As part of the 2012 drilling program, Pretivm''s QP selected a portion of the samples (207 samples) to undergo core density measurements as well as pulp specific gravity measurements in order to determine whether there is any impact on the density as a result of porosity. The results of the comparison indicate that the core density is on average 6% lower than the pulp specific gravity within the siliceous zone and 9% lower on average in all other rock types. As a result the pulp specific gravity measurements, which are used to estimate density in the model, were factored by 6% (siliceous zone) or 9% (other rock types) prior to estimation. Tonnages were estimated on a dry basis with density values estimated into the models using simple kriging where sufficient data was available. Outside of these areas, the average density of 2.54 t/m3 was applied. There is little variation in density between the different rock types.
The updated Mineral Resource estimate for the Valley of the Kings is significantly higher in confidence than the previous September 2012 estimate as a result of almost twice the amount of drillhole composites within the mineralised corridors. This additional data has resulted in higher confidence in the geological interpretation used in the estimation. The additional drilling confirms the location of the high-grade corridors and has allowed a better estimate of the boundaries of these corridors in areas where there was insufficient data to confirm the location of boundaries previously. The additional confidence has allowed an increase in the amount of material classified as Indicated, with much of the higher grade material previously classified as Inferred, now incorporated into the Indicated Resource. In addition the additional drilling to the east and west of the previously defined mineralised corridors, has allowed an expansion of the Inferred Resource into these areas.
Bulk Sample; Feasibility Study
Pretivm has commenced an underground exploration program designed, amongst other things, to access the Valley of the Kings underground and demonstrate continuity of the high-grade gold mineralization. The first phase, now well underway, is to slash out the existing West Zone underground workings to five-by-five meters then excavate a decline from the West Zone to the Valley of the Kings, a distance of approximately 450 meters. We are currently planning the sampling and mining plans for a 10,000 tonne underground bulk sample, which we expect to excavate from the Valley of the Kings in the second quarter of 2013.
Also underway is a feasibility study for an underground mine with an operating rate of 2,700 tonnes per day using a mining method of long-hole stoping and cemented paste backfill. Stopes will be mined using a combination of longitudinal and transverse mining, depending on zone width and orientation. Cemented paste tailings will be prepared in a paste plant located on surface near the mill and then pumped underground for distribution to the stopes.
With the 66% increase in the Indicated Mineral Resource at the Valley of the Kings, Pretivm plans to incorporate the updated Mineral Resource in the feasibility study. The feasibility study is currently expected to be completed in the second quarter of 2013, and we will advise in due course on the impact to the schedule.
Independent Qualified Persons
The above table summarizes the high-grade Mineral Resource estimate totals for the Valley of the Kings zone of the Brucejack Project. The Mineral Resource estimate contained in this news release was prepared by Ivor Jones (FAusIMM(CP)) and Lynn Olssen (MAusIMM(CP)) of Snowden, both of whom are independent Qualified Persons, as defined by National Instrument 43-101. Mr. Jones and Ms. Olssen have reviewed and approved the contents of this news release.
Snowden delivers a comprehensive range of technical consulting services, independent advice and technology solutions to the mining sector. Snowden''s areas of expertise cover both open pit and underground mining operations, for the majority of mineral commodities, with projects ranging from exploration and resource evaluation to mine planning, metallurgy, and mine optimisation. Snowden was established 25 years ago in Perth, Australia, and has eight offices located in the world''s major mining regions.
About Pretivm
Pretivm is creating value through gold at its high-grade gold Brucejack Project, located in northern British Columbia. Brucejack hosts a major undeveloped high-grade gold resource and mineralization remains open in all directions. A feasibility study for a high-grade underground mine in Brucejack''s Valley of the Kings is underway and expected in the second quarter of 2013.
Forward-Looking Statements
This News Release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and United States securities legislation. Forward-looking information may include, but is not limited to, risks related to our planned exploration and development activities, the adequacy of Pretivm''s financial resources, the estimation of mineral resources, realization of mineral resource estimates, timing of development of Pretivm''s Brucejack Project, costs and timing of future exploration, results of future exploration and drilling, production and processing estimates, capital and operating cost estimates, timelines and similar statements relating to the economic viability of the Brucejack Project, timing and receipt of approvals, consents and permits under applicable legislation, Pretivm''s executive compensation approach and practice, and adequacy of financial resources. Wherever possible, words such as "plans", "expects", "projects", "assumes", "budget", "strategy", "scheduled", "estimates", "forecasts", "anticipates", "believes", "intends" and similar expressions or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative forms of any of these terms and similar expressions, have been used to identify forward-looking statements and information. Statements concerning mineral resource estimates may also be deemed to constitute forward-looking information to the extent that they involve estimates of the mineralization that will be encountered if the property is developed. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be forward-looking information. Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by the forward-looking information, including, without limitation, those risks identified in Pretivm''s prospectus supplement to the short form base shelf prospectus dated March 19, 2012 filed on SEDAR at www.sedar.com and in the United States through EDGAR at the SEC''s website at www.sec.gov. Forward-looking information is based on the expectations and opinions of Pretivm''s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise. We do not assume any obligation to update forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable law. For the reasons set forth above, prospective investors should not place undue reliance on forward-looking information.
(SEDAR filings: Pretium Resources Inc.)
.
.
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
Seems to me like right now is a great time to buy NUGT. I love the individual companies and Pretivm PVG remains my cornerstone for now, but after pouring over hundreds of projects, people, etc. - I find it hard to argue against the diversification and leverage of NUGT. Tell me where I'm wrong?
By the way, anyone going to the San Fran show this weekend?
Huldra Silver Is Pleased to Provide an Update on Mill Commissioning and Mine Status
http://finance.yahoo.com/news/huldra-silver-pleased-mill-commissioning-110000961.html
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov 12, 2012) - Huldra Silver Inc. (TSX VENTURE:HDA) ("Huldra" or the "Company") is pleased to provide an update on the commissioning of its 200 tonne per day silver, lead and zinc crushing, grinding and flotation mill in Merritt, BC. The Company also wishes to update the current progress at the Treasure Mountain Mine, located 70 kilometers south of Merritt, BC.
Under the supervision of a metallurgical engineering consultant, the Company has been making minor modifications to the processing plant. This work involved changes to the mill from fine ore bin right through to the filtration area. The mill was shut down temporarily to make these modifications, which have been completed in a timely manner.
With the current adjustments to the processing complete, the decision has been made to begin processing recently mined mill feed instead of the historical partially oxidized stockpile from the Treasure Mountain Mine. Huldra has hired additional managers, consultants and employees during the past two weeks to begin operating the mill on a 24 hour a day, seven days a week schedule immediately upon approval of the Ministry of Energy and Mines. Further maintenance and upgrades are expected to occur during regular operations.
The Company considers the mill commissioning to be substantially complete. As highlighted during recent facility inspections, as required under the Mines Act of British Columbia for a fully operational mill, the Company accelerated and completed the planned replacement of temporary ladders, lights and fans with permanent fixtures.
The Treasure Mountain Mine has been operating throughout this period with stockpiles of mill feed increasing on a daily basis from the underground mining operations. The frequency of transportation of mill feed from the mine site to the mill site has been increased in order to meet anticipated increased mill throughput. Further underground exploration plans are being developed and will be released as soon as they are complete.
Huldra currently employs approximately 75 full time staff in the Merritt, BC area, along with additional contractors and consultants. The Company expects that the level of employment will continue to increase as further development occurs at both the Merritt mill facility and the Treasure Mountain Mine.
About Huldra
Huldra is currently mining at its Treasure Mountain Project, located three hours east of Vancouver, BC, utilizing an offsite mill being commissioned for processing mill feed at the Company''s property outside of Merritt, BC. The Company is also actively assessing other opportunities for acquisition and development.
On behalf of the Board of Directors of
HULDRA SILVER INC.
Ryan Sharp, MBA, President, CEO & Director
Disclaimer for Forward-Looking Information
This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events related to the Company''s commissioning of its mill, the timing of progress to a seven day operating schedule at the mill and the expected timing for the commencement of processing of mill feed. Such forward-looking information can include statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. These risks and uncertainties include that factors may arise which delay the Company''s expected timing with respect to operation of the mill; circumstances may occur that may interfere with the Company''s ability to begin processing mill feed in a timely manner; risks related to a decrease in mineral prices or to the mineral resource industry generally; and other factors beyond the Company''s control. These risks and uncertainties could cause actual results and the Company''s plans and objectives to differ materially from those expressed in the forward-looking information. The Company can offer no assurance that its plans will be completed in the time expected or at all. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management''s estimates or opinions change.
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Contact:.
.
Huldra Silver Inc.
Ryan Sharp, MBA
President, CEO & Director
(604) 647-0142
ryan@huldrasilver.com or IR@huldrasilver.com
www.huldrasilver.com
Pretium Resources Inc.: Operating Rate of 2,700 Tonnes Per Day Established for Brucejack Project Feasibility Study
http://finance.yahoo.com/news/pretium-resources-inc-operating-rate-090000291.html
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct 25, 2012) - Pretium Resources Inc. (PVG.TO)(PVG) ("Pretivm") is pleased to report that the feasibility study for an underground mine at its high-grade gold Brucejack Project in northern British Columbia is being advanced with an operating rate of 2,700 tonnes per day.
The mining method chosen for the feasibility study is long-hole stoping with cemented paste backfill. Stopes will be mined using a combination of longitudinal and transverse mining, depending on zone width and orientation. Cemented paste tailings will be prepared in a paste plant located on surface near the mill and then pumped underground for distribution to the stopes.
The feasibility study for the Brucejack Project is expected to be completed in the second quarter of 2013.
Ian I Chang, M.A.Sc., P.Eng., Vice President, Project Development, Pretium Resources Inc. is the Qualified Person (QP) responsible for Brucejack Project development.
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 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.
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Contact:.
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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
Gold down $20, but HUI is positive! Great to see the miners outperform. They should really take off once this gold correction is over.
Pretium Resources Inc.: Valley of the Kings 2012 Exploration Concludes With More High-Grade Gold
http://finance.yahoo.com/news/pretium-resources-inc-valley-kings-090000149.html
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct 18, 2012) - Pretium Resources Inc. (PVG.TO)(PVG) ("Pretivm") is pleased to report the final assays from its high-grade Brucejack Project in northern British Columbia. Results continue to confirm the projection and continuity of high-grade gold, including more 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-557 intersected 7,947 grams of gold per tonne uncut over 0.60 meters (231.8 ounces of gold per ton over 1.97 feet);
•Hole SU-578 intersected 1,175 grams of gold per tonne uncut over 0.50 meters (34.3 ounces of gold per ton over 1.64 feet) and
•Hole SU-584 intersected 1,155 grams of gold per tonne uncut over 0.65 meters (33.7 ounces of gold per ton over 2.13 feet).
The bonanza-grade gold intercept noted above from hole SU-557, which was collared on section 426525E, was intersected 54 meters deeper and 54 meters north of the interval from the Valley of the Kings discovery hole SU-12 which graded 16,948 grams per tonne gold uncut over 1.5 meters, in the central area of the zone.
The interval noted above from hole SU-578, which was collared on section 426800E, was intersected 85 meters south and 40 meters east of the interval from hole SU-54 which intersected 2,490 grams of gold per tonne uncut over 1.59 meters, near the eastern margin of the Valley of the Kings. The interval from SU-584, which was collared on section 426262E, was intersected 12 meters above and 25 meters west of the interval from hole SU-493 which intersected 1,751 grams per tonne gold uncut over 1.2 meters, at the far western margin of the Valley of the Kings.
A plan of the Valley of the Kings highlighting the location of the holes noted above is located at http://media3.marketwire.com/docs/PVG1018m.pdf.
The assays for all holes after SU-466 will be incorporated in the 2012 Mineral Resource estimate for the Brucejack Project, which is expected later in the fourth quarter of 2012 or in the first quarter of 2013.
The recently completed 2012 Brucejack Exploration Program successfully confirmed the continuity of high-grade gold mineralization in the Valley of the Kings, and extended the zone to over 800 meters along strike. The Valley of the Kings remains open to the east, west, and at depth.
Table 1: Selected Brucejack Project Drill Results, October 2012 (SU-556 to SU-585)(1,3,4)
Hole
No.
Collar Coords.
Dip/
Azimuth
From
(meters)
To
(meters)
Interval
(meters)
Gold
(g/t)
Silver
(g/t)
Capping
(2)
VALLEY OF THE KINGS
SU-556
6258067N
427052E
-56/178
203.00
206.00
Low-grade Au, Ag quartz stockwork
305.50
323.00
Low-grade Au, Ag quartz stockwork
SU-557
6258317N
426527E
-47/178
333.58
334.08
0.50
20.40
29.90
358.67
359.27
0.60
7,947
3,770
Uncut
401.87
402.37
0.50
18.55
54.20
432.24
432.74
0.50
94.20
45.20
496.85
499.00
2.15
43.88
37.33
incl
497.35
499.00
1.65
52.50
44.10
523.00
524.50
1.50
16.55
15.10
SU-558
6258239N
426527E
-47/178
319.20
323.50
4.30
20.82
13.97
incl
319.20
319.62
0.42
135.50
81.10
incl
321.81
323.50
1.69
18.60
10.80
SU-559
6257973N
426225E
-45/358
14.84
16.40
1.56
4.42
125.51
SU-560
6258291N
426480E
-53/178
100.61
101.11
0.50
50.10
28.20
330.50
332.00
1.50
42.00
51.30
434.12
437.85
3.73
66.80
73.18
1 Au sample cut
or
434.12
437.85
3.73
111.20
73.18
Uncut
incl
434.12
434.72
0.60
656.00
427.00
incl
437.35
437.85
0.50
38.50
19.00
460.86
461.36
0.50
98.20
42.90
518.27
518.77
0.50
300.00
143.00
SU-562
6258207N
426703E
-51/178
2.00
4.61
2.61
10.95
14.42
incl
4.11
4.61
0.50
25.40
12.70
367.00
372.46
5.46
15.27
11.77
incl
371.90
372.46
0.56
124.50
83.60
416.50
417.00
0.50
421.00
207.00
SU-563
6258121N
426951E
-56/178
377.00
378.50
1.50
107.00
45.90
439.5
464
Low-grade Au, Ag quartz stockwork
SU-564
6258299N
426227E
-50/175
86.00
87.50
1.50
54.60
24.30
287.86
288.36
0.50
317.00
181.00
SU-565
6258121N
426302E
-64/177
98.21
98.71
0.50
287.00
48.00
168.50
171.50
3.00
9.42
18.35
SU-567
6258106N
427184E
-57/177
254.00
257.00
Low-grade Au, Ag quartz stockwork
SU-568
6258156N
427000E
-52/177
28.05
28.55
0.50
8.38
540.00
109.60
110.10
0.50
5.93
691.00
328.50
330.00
1.50
116.50
40.90
443.00
460.50
17.50
20.59
19.26
1 Au sample cut
or
443.00
460.50
17.50
30.62
19.26
Uncut
incl
443.00
443.50
0.50
138.50
70.50
incl
443.50
444.00
0.50
731.00
314.00
Uncut
incl
459.00
460.50
1.50
63.40
41.70
SU-570
6258155N
426853E
-47/177
77.50
79.00
1.50
130.01
63.40
1 Au sample cut
or
77.50
79.00
1.50
152.67
63.40
Uncut
incl
78.50
79.00
0.50
448.00
187.00
Uncut
95.50
99.56
4.06
9.11
139.11
incl
97.85
98.82
0.97
20.20
94.80
441.05
441.78
0.73
73.40
73.40
SU-571
6257844N
426265E
-60/358
122.53
123.03
0.50
31.50
39.80
183.73
192.69
8.96
12.92
7.64
183.73
184.39
0.66
123.5
48.1
192.19
192.69
0.5
16.40
10.90
273.50
275.00
1.50
19.95
52.90
372.77
373.42
0.65
16.20
16.7
SU-572
6258206N
426849E
-53/177
6.57
8.13
1.56
21.60
335.00
484.5
486
1.5
46.5
8.8
499.5
501
1.5
244
229
SU-573
6258177N
426801E
-50/358
247.5
250.5
3
19.925
10.50
321.2
321.7
0.5
26.60
19.30
SU-574
6258099N
426826E
-50/358
88.04
88.54
0.50
25.00
24.40
148.50
157.50
9.00
9.398
36.00
148.50
150.00
1.50
25.30
65.00
154.50
156.00
1.50
21.10
85.90
191.38
193.00
1.62
27.9
77.80
SU-575
6258317N
426527E
-51/178
418.27
418.77
0.50
12.80
11.40
501.27
514.21
12.94
17.23
10.17
incl
501.27
501.87
0.60
292.00
113.00
incl
508.55
509.3
0.75
44.3
33.3
incl
513.71
514.21
0.5
19.00
11.70
SU-577
6258067N
426451E
-50/178
26.66
27.16
0.50
41.50
141.00
75.09
80.99
5.90
9.95
12.63
incl
75.09
75.59
0.50
30.20
29.3
incl
80.49
80.99
0.50
79.00
49.5
127.38
127.88
0.50
42.40
32.60
SU-578
6258076N
426803E
-50/358
14.32
14.82
0.50
1,175
87.20
Uncut
189.60
192.10
2.50
7.49
16.70
253.60
254.10
0.50
105.50
73.80
SU-579
6258151N
426852E
-46/357
13.00
14.50
1.50
20.70
177.00
SU-580
6258151N
426853E
-46/357
69.50
71.00
1.50
8.96
145.00
101.00
111.50
10.50
4.69
64.66
208.06
209.50
1.44
15.70
37.60
320.88
321.38
0.50
18.40
45.30
SU-582
6258108N
427185E
-45/358
236.50
238.00
1.50
6.10
440.00
245.50
247.00
1.50
7.86
256.00
419.00
420.50
1.50
12.65
19.50
443.79
444.29
0.50
20.30
888.00
SU-584
6257883N
426264E
-50/358
32.15
36.05
3.90
26.89
38.02
incl
32.15
32.65
0.50
181.50
232.00
incl
35.55
36.05
0.50
20.10
46.20
49.50
50.25
0.75
44.80
25.70
135.77
140.45
4.68
79.19
89.78
1 Au sample cut
or
135.77
140.45
4.68
186.83
89.78
Uncut
incl
135.77
136.42
0.65
1,155
542.00
Uncut
incl
136.42
138.00
1.58
48.70
24.60
incl
139.93
140.45
0.52
87.90
48.00
160.18
160.68
0.50
40.50
4.90
SU-585
6258157N
426903E
-52/177
121.50
123.11
1.61
8.54
396.00
352.05
352.55
0.50
10.85
10.20
452.35
452.85
0.50
5.72
170.00
(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) Where low-grade quartz stockwork is noted, grades range between 0.4 to 2.0 grams per tonne gold and 20 to 200 grams per tonne silver.
(4) All samples were submitted for preparation and analysis by ALS Chemex at its facilities in Terrace, B.C. All samples were analyzed using multi-digestion with ICP finish and fire assay with AA finish for gold. Samples over 100 ppm silver were reanalyzed using four acid digestion with an ore grade AA finish. Samples over 1,500 ppm silver were fire assayed with a gravimetric finish. Samples with over 10 ppm gold were fire assayed with a gravimetric finish. One in 20 samples was blank, one in 20 was a standard sample, and differing one in 20 samples was a field duplicate one-quarter split core assayed at ALS Chemex in Vancouver, B.C.
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.
.
.
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
Taylor says buy Pretium on weakness
2012-10-04 15:38 ET - In the News
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.
Pretium Resources Inc.: High-Grade Gold Intercepts Continue to Confirm Valley of the Kings Continuity
http://finance.yahoo.com/news/pretium-resources-inc-high-grade-090000303.html
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct 3, 2012) - Pretium Resources Inc. (PVG.TO)(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)
Hole
No.
Collar
Coords.
Dip/
Azimuth
From
(meters)
To
(meters)
Interval
(meters)
Gold
(g/t)
Silver
(g/t)
Capping
(2)
VALLEY OF THE KINGS
SU-531
6258171N
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-533
6258306N
426575E
-50/178
415.00
416.50
1.50
8.75
4.40
488.66
489.16
0.50
25.10
20.60
SU-534
6257895N
426225E
-50/355
125.50
127.00
1.50
7.03
7.30
SU-535
6257801N
426325E
-55/358
12.45
17.50
5.05
42.03
31.19
1 Au
sample 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-536
6258292N
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-537
6258212N
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-538
6258096N
427000E
-54/178
145.00
146.50
1.50
9.88
0.60
SU-539
6258192N
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-540
6258228N
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-541
6257660N
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-542
6257831N
426300E
-60/358
16.00
21.32
5.32
72.08
307.28
2 Au
samples 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
269.86
272.16
2.30
179.01
391.48
1 Au
sample 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-543
6258116N
427103E
-45/177
351.73
352.23
0.50
30.30
13.60
2 Au
samples cut
SU-544
6258262N
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-545
6257912N
426287E
-60/358
416.66
423.00
6.34
3.64
176.66
SU-546
6258191N
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-547
6258306N
426575E
-58/178
427.50
429.00
1.50
45.00
7.10
SU-548
6257848N
426287E
-60/357
226.50
232.50
6.00
6.11
5.18
290.50
309.50
19.00
31.24
65.88
2 Au
samples 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-549
6258235N
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-552
6258177N
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-553
6258119N
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-554
6258256N
426750E
-51/178
36.00
37.50
1.50
5.18
177.00
45.45
47.00
1.55
52.90
535.00
SU-555
6258270N
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-532
6258960N
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.
.
.
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
BNN video - September 19, 2012 : Pretium
Resources [09-19-12 11:40 AM] Robert Quartermain
Commodities : September 19, 2012 : Pretium Resources [09-19-12 11:40 AM]Robert Quartermain, president & CEO of Pretium Resources, joins Andy Bell on Commodities to talk about the recent extension of its Valley of the Kings asset and the increase in that resource estimate.
http://watch.bnn.ca/#clip764646
Brucejack Technical Session Conference Call & Webcast
1-800-319-4610 (Canada & US toll-free)
1-604-638-5340 (Outside Canada & US)
View webcast - http://services.choruscall.ca/links/pretium120919.html
View PDF - http://pretivm.com/Theme/Pretium/files/doc_presentations/Pretivm%20September%2019%202012%20Technical%20Session%20web%20site.pdf
Pretivm Files 43-101 Technical Report for Brucejack's Interim High-Grade Mineral Resource Estimate
http://finance.yahoo.com/news/pretivm-files-43-101-technical-165051876.html
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sep 18, 2012) - Pretium Resources Inc. (PVG.TO)(PVG) ("Pretivm") is pleased to report that it has filed on SEDAR "Brucejack Project Mineral Resources Update Technical Report" subsequent to its news release dated September 7, 2012 announcing the interim high-grade Mineral Resource estimate for its Brucejack Project.
The Technical Report, dated September 18, 2012, will also be available on Pretivm''s web site at www.pretivm.com under the Brucejack Project section.
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 Statement
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
Pretium Resources Inc.: Valley of the Kings Drilling Encounters Seven Intersections Grading Over 2,000 Grams Per Tonne Gold
http://finance.yahoo.com/news/pretium-resources-inc-valley-kings-090000019.html
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sep 18, 2012) - Pretium Resources Inc. (PVG.TO)(PVG) ("Pretivm") is pleased to report that drilling in Brucejack''s Valley of the Kings continues to intersect high-grade gold, with numerous assays grading over 2,000 grams per tonne gold. (See Table 1 below for assays.)
Selected highlights from the Valley of the Kings include:
•Hole SU-502 intersected 8,151 grams of gold per tonne uncut over 0.50 meters (237.7 ounces of gold per ton over 1.64 feet);
•Hole SU-510 intersected 4,673 grams of gold per tonne uncut over 0.59 meters (136.3 ounces of gold per ton over 1.94 feet);
•Hole SU-526 (previously reported) intersected 4,195 grams of gold per tonne uncut over 1.16 meters (122.3 ounces of gold per ton over 3.81 feet);
•Hole SU-512 intersected 2,790 grams of gold per tonne uncut over 0.50 meters (81.37 ounces of gold per ton over 1.64 feet);
•Hole SU-523 intersected: •2,370 grams of gold per tonne uncut over 0.50 meters (69.12 ounces of gold per ton over 1.64 feet) and
•1,060 grams of gold per tonne uncut over 0.80 meters (30.92 ounces of gold per ton over 2.62 feet);
•Hole SU-524 intersected: •2,170 grams of gold per tonne uncut over 0.55 meters (63.29 ounces of gold per ton over 1.80 feet) and
•2,020 grams of gold per tonne uncut over 0.50 meters (58.92 ounces of gold per ton over 1.64 feet).
Hole SU-502 was collared on section 426612E, and the bonanza-grade gold interval noted above is located approximately 35 meters from the interval from hole SU-452 which intersected 41,582 grams of gold per tonne uncut over 0.50 meters. Hole SU-524 was collared on section 426312E, and the intervals noted above were intersected roughly three meters apart at a downhole depth of 124 meters. They are located approximately 46 meters from the interval from hole SU-150 which intersected 6,670 grams per tonne gold uncut over 0.50 meters.
The Valley of the Kings now extends over 800 meters in strike length and is open to the east, west, and at depth. A plan of the Valley of the Kings highlighting the location of the holes noted above is located at http://media3.marketwire.com/docs/819764.pdf.
Nine drills continue turning at Brucejack, with the 2012 Brucejack Exploration Program expected to be completed early in the fourth quarter. A Technical Session discussing the geological model of the Valley of the Kings and the results of the recently-announced Interim Mineral Resource Estimate for the Brucejack Project will be held on Wednesday, September 19th at noon (EST) with a webcast at: http://services.choruscall.ca/links/pretium120919.html.
Table 1: Selected Brucejack Project Drill Results, September 2012 (SU-501 to SU-530)(1,4)
Hole
No.
Collar
Coords.
Dip/
Azimuth
From
(met-
ers)
To
(met-
ers)
Inter-
val
(met-
ers)
Gold
(g/t)
Silver
(g/t)
Cap-
ping(2)
SU-501
6257853N
426637E
-70/358
54.00
55.50
1.50
54.80
37.60
278.62
279.21
0.59
258.00
418.00
SU-502
6258125N
426612E
-53/178
71.50
73.00
1.50
23.90
139.00
109.00
112.00
3.00
6.55
241.00
233.50
256.00
22.50
22.65
109.05
2 Au samples cut
or
233.50
256.00
22.50
208.33
109.05
Uncut
incl
252.02
252.52
0.50
965.00
477.00
Uncut
incl
254.08
254.58
0.50
8,151
4,040
Uncut
incl
254.58
256.00
1.42
44.00
33.40
SU-505
6258228N
426425E
-50/178
46.48
46.98
0.50
37.50
13.60
348.18
348.68
0.50
172.50
151.00
SU-507
6257813N
426613E
-50/358
266.00
284.50
18.50
23.41
15.64
incl
266.00
267.50
1.50
100.00
34.90
incl
272.36
272.86
0.50
280.00
189.00
incl
283.00
284.50
1.50
81.90
55.70
SU-508
6257960N
426223E
-63/355
24.00
25.00
1.00
5.29
2.90
76.00
77.50
1.50
5.75
24.70
SU-509
6258125N
426612E
-56/178
306.55
316.69
10.14
31.48
25.53
incl
306.55
307.05
0.50
293.00
287.00
incl
316.19
316.69
0.50
340.00
179.00
SU-510
6257970N
426650E
-50/178
201.16
203.00
1.84
127.09
716.11
1 Au sample cut
or
201.16
203.00
1.84
1,504
716.11
Uncut
incl
201.16
201.75
0.59
4,673
2,210
Uncut
SU-511
6257997N
426175E
-50/356
388.50
389.00
0.50
135.00
202.00
SU-512
6257775N
426612E
-50/358
77.50
80.50
3.00
8.63
42.50
293.22
307.00
13.78
24.91
45.34
incl
293.22
293.72
0.50
301.00
138.00
incl
305.50
307.00
1.50
121.00
136.00
365.33
366.50
1.17
165.98
151.39
1 Au sample cut
or
365.33
366.50
1.17
1,196
151.39
Uncut
incl
365.33
365.83
0.50
2,790
330.00
Uncut
SU-513
6257787N
426475E
-50/358
27.00
28.50
1.50
11.95
10.10
129.85
131.71
1.86
81.40
53.51
incl
129.85
130.40
0.55
33.60
10.10
incl
131.21
131.71
0.50
265.00
186.00
SU-514
6258075N
426612E
-45/178
101.50
103.00
1.50
10.65
20.00
203.50
206.00
2.50
358.32
271.99
203.50
204.77
1.27
378.00
302.00
204.77
206.00
1.23
338.00
241.00
SU-517
6257775N
426500E
-50/358
136
137.50
1.50
32.10
14.80
SU-518
6258112N
426600E
-45/178
34.50
36.00
1.50
10.45
80.90
SU-519
6258135N
426550E
-48/178
184.00
185.50
1.50
107.00
72.60
250.36
252.18
1.82
163.11
310.45
1 Au sample cut
or
250.36
252.18
1.82
451.57
310.45
Uncut
incl
250.36
250.86
0.50
212.00
258.00
incl
251.68
252.18
0.50
1,430
844.00
Uncut
459.50
461.00
1.50
61.60
87.90
SU-520
6257905N
426312E
-60/358
107.32
107.85
0.53
373.00
181.00
180.00
181.50
1.50
9.37
5.90
SU-521
6258257N
426575E
-49/178
256.50
258.00
1.50
9.94
6.90
SU-522
6257947N
426173E
-50/357
66.86
67.38
0.52
49.30
99.70
454.50
456.00
1.50
23.30
12.00
SU-523
6258167N
426500E
-45/178
44.41
47.03
2.62
16.23
8.17
incl
44.41
44.91
0.50
37.50
26.30
incl
46.53
47.03
0.50
44.10
6.80
209.00
214.50
5.50
42.19
110.53
1 Au sample cut
or
209.00
214.50
5.50
223.09
110.53
Uncut
incl
209.00
210.50
1.50
24.80
15.80
incl
212.65
213.15
0.50
2,370
1,140
Uncut
313.00
313.80
0.80
1,060
480.00
Uncut
371.55
372.05
0.50
73.10
33.30
SU-524
6257891N
4263125E
-60/358
124.39
127.99
3.60
111.90
207.95
2 Au samples cut
or
124.39
127.99
3.60
613.15
207.95
Uncut
incl
124.39
124.89
0.50
2,020
949.00
Uncut
incl
127.44
127.99
0.55
2,170
491.00
Uncut
171.82
172.32
0.50
71.00
62.00
SU-525
6257829N
426475E
-50/358
47.71
50.24
2.53
99.03
102.29
incl
47.71
48.21
0.50
69.10
209.00
incl
48.89
49.58
0.69
306.00
207.00
SU-526(3)
6258096N
427000E
-57/178
320.5
339.5
19.0
18.3
11.7
1 Au sample cut
or
320.5
339.5
19.0
24.9
11.7
Uncut
incl
320.5
321.0
0.5
150.0
90.0
incl
332.86
333.36
0.5
752.0
290.0
Uncut
400.71
401.87
1.16
4,195
2405
SU-527
6257845N
426362E
-50/358
71.67
75.00
3.33
39.73
45.06
incl
72.24
73.07
0.83
57.20
76.70
incl
73.07
73.57
0.50
143.00
70.50
SU-529
6258197N
426600E
-45/178
51.70
54.61
2.91
44.60
17.23
incl
51.70
52.21
0.51
95.10
31.80
incl
54.11
54.61
0.50
159.50
58.70
83.00
83.50
0.50
30.80
2.90
365.92
367.81
1.89
112.00
161.60
1 Au sample cut
or
365.92
367.81
1.89
331.58
161.60
Uncut
incl
365.92
366.42
0.50
1,210
582.00
Uncut
incl
367.31
367.81
0.50
40.10
15.50
SU-530
6257759N
426625E
-55/358
20.36
20.86
0.50
19.70
17.60
333.00
334.50
1.50
10.95
4.00
491.00
492.50
1.50
27.80
136.00
(1)
True thickness to be determined.
(2)
Unless otherwise indicated as uncut, all gold assays over 500 g/t were cut to 500 g/t.
(3)
Previously reported.
(4)
All samples were submitted for preparation and analysis by ALS Chemex at its facilities in Terrace, B.C. All samples were analyzed using multi-digestion with ICP finish and fire assay with AA finish for gold. Samples over 100 ppm silver were reanalyzed using four acid digestion with an ore grade AA finish. Samples over 1,500 ppm silver were fire assayed with a gravimetric finish. Samples with over 10 ppm gold were fire assayed with a gravimetric finish. One in 20 samples was blank, one in 20 was a standard sample, and differing one in 20 samples was a field duplicate one-quarter split core assayed at ALS Chemex in Vancouver, B.C.
Assay results for completed drilling will be reported as they are received over the course of the 2012 drilling season. The assays for all holes after SU-466 will be incorporated in the final 2012 Mineral Resource estimate for the Brucejack Project expected later in the fourth quarter of 2012 or in the first quarter of 2013.
Kenneth C. McNaughton, M.A.Sc., P.Eng., Chief Exploration Officer, Pretium Resources Inc. is the Qualified Person (QP) responsible for the Brucejack Project exploration program.
About Pretivm
Pretivm is creating value through gold at its high-grade gold Brucejack Project, located in northern British Columbia. Brucejack hosts a major undeveloped high-grade gold resource and mineralization remains open in all directions. A feasibility study for a high-grade underground mine in Brucejack''s Valley of the Kings is underway and expected in the second quarter of 2013.
Forward Looking Statements
This News Release contains "forward-looking information" and "forward looking statements" within the meaning of applicable Canadian and United States securities legislation. Forward-looking information may include, but is not limited to, risks related to our planned exploration and development activities, the adequacy of Pretivm''s financial resources, the estimation of mineral resources, realization of mineral resource estimates, timing of development of Pretivm''s Brucejack Project, costs and timing of future exploration, results of future exploration and drilling, production and processing estimates, capital and operating cost estimates, timelines and similar statements relating to the economic viability of the Brucejack Project, timing and receipt of approvals, consents and permits under applicable legislation, Pretivm''s executive compensation approach and practice, and adequacy of financial resources. Wherever possible, words such as "plans", "expects", "projects", "assumes", "budget", "strategy", "scheduled", "estimates", "forecasts", "anticipates", "believes", "intends" and similar expressions or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative forms of any of these terms and similar expressions, have been used to identify forward-looking statements and information. Statements concerning mineral resource estimates may also be deemed to constitute forward-looking information to the extent that they involve estimates of the mineralization that will be encountered if the property is developed. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be forward-looking information. Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by the forward-looking information, including, without limitation, those risks identified in Pretivm''s prospectus supplement to the short form base shelf prospectus dated March 19, 2012 filed on SEDAR at www.sedar.com and in the United States through EDGAR at the SEC''s website at www.sec.gov. Forward-looking information is based on the expectations and opinions of Pretivm''s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise. We do not assume any obligation to update forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable law. For the reasons set forth above, prospective investors should not place undue reliance on forward-looking information.
.
.
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
Pretium Resources Inc.
570 Granville Street, Suite 1600
Vancouver, BC V6C 3P1
(604)558-1784
invest@pretivm.com / www.pretivm.com
(SEDAR filings: Pretium Resources Inc.)
Pretium Resources Inc.: Brucejack Project Technical Session Conference Call and Webcast on September 19th
http://finance.yahoo.com/news/pretium-resources-inc-brucejack-project-090000138.html
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sep 17, 2012) - Pretium Resources Inc. (PVG.TO)(PVG) ("Pretivm") will host a Technical Session on Wednesday, September 19th in Toronto to discuss the advancing Brucejack high-grade gold project. Pretivm''s senior management and an independent Qualified Person representing Snowden Mining Industry Consultants will present the geological model of the Valley of the Kings and the results of the recently-announced Interim Mineral Resource estimate.
A live conference call and webcast will be held on Wednesday, September 19th at 12:00pm (ET). Participants may join the call by accessing the following numbers:
Canada & USA Toll Free: 1-800-319-4610
Outside of Canada & USA: +1-604-638-5340
Toronto Local: 416-915-3239
United Kingdom Toll Free: 0808 101 2791
The webcast will be available at http://services.choruscall.ca/links/pretium120919.html.
A recorded playback of the call will be available until October 19, 2012 by dialing 1-800-319-6413 or 1-604-638-9010 for calls outside Canada and the US. Conference ID number 2633#. The webcast will be archived on Pretivm''s website www.pretivm.com.
About Pretivm
Pretivm is creating value through gold at its high-grade gold Brucejack Project, located in northern British Columbia. Brucejack hosts a major undeveloped high-grade gold resource and mineralization remains open in all directions. A feasibility study for a high-grade underground mine in Brucejack''s Valley of the Kings is underway and expected in the second quarter of 2013.
Forward Looking Statements
This News Release contains "forward-looking information" and "forward looking statements" within the meaning of applicable Canadian and United States securities legislation. Forward-looking information may include, but is not limited to, risks related to our planned exploration and development activities, the adequacy of Pretivm''s financial resources, the estimation of mineral resources, realization of mineral resource estimates, timing of development of Pretivm''s Brucejack Project, costs and timing of future exploration, results of future exploration and drilling, production and processing estimates, capital and operating cost estimates, timelines and similar statements relating to the economic viability of the Brucejack Project, timing and receipt of approvals, consents and permits under applicable legislation, Pretivm''s executive compensation approach and practice, and adequacy of financial resources. Wherever possible, words such as "plans", "expects", "projects", "assumes", "budget", "strategy", "scheduled", "estimates", "forecasts", "anticipates", "believes", "intends" and similar expressions or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative forms of any of these terms and similar expressions, have been used to identify forward-looking statements and information. Statements concerning mineral resource estimates may also be deemed to constitute forward-looking information to the extent that they involve estimates of the mineralization that will be encountered if the property is developed. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be forward-looking information. Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by the forward-looking information, including, without limitation, those risks identified in Pretivm''s prospectus supplement to the short form base shelf prospectus dated March 19, 2012 filed on SEDAR at www.sedar.com and in the United States through EDGAR at the SEC''s website at www.sec.gov. Forward-looking information is based on the expectations and opinions of Pretivm''s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise. We do not assume any obligation to update forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable law. For the reasons set forth above, prospective investors should not place undue reliance on forward-looking information.
.
.
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
Quartermain adresses the new resource estimate:
Denver Gold Forum 2012 > Webcast > Pretium Resources Inc.
http://www.denvergoldforum.org/dgf12/company-webcast/PVG:CN
Another presentation from last week:
http://www.gowebcasting.com/events/precious-metals-summit-conferences-llc/2012/09/07/pretivm-resources-inc/play/stream/5447
Northern Gold Mining Inc. NGM.V $0.36 NTGMF
56M market cap
New life last 6 weeks with new CEO, Greg Gibson, who negotiated the sale of Trelawney to IAMGOLD Corporation for $585-million.
He tells you why he chose NGM here: http://www.gowebcasting.com/events/precious-metals-summit-conferences-llc/2012/09/06/northern-gold-mining-inc/play/stream/5389
So basically, Pretium Resources Inc. has released an updated, interim high-grade mineral resource estimate for its wholly owned Brucejack project at 5.1 moz Au indicated, which seems to be below market expectations, or more likely is getting misunderstood by short term players who lack the vision of the big picture.
Pretium's Brucejack at 5.1 moz Au indicated
2012-09-07 07:58 ET - News Release
http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aPVG-1994553&symbol=PVG®ion=C
Mr. Robert Quartermain reports
PRETIUM RESOURCES INC.: UPDATED, INTERIM HIGH-GRADE MINERAL RESOURCE ESTIMATE COMPLETED FOR BRUCEJACK PROJECT
Pretium Resources Inc. has released an updated, interim high-grade mineral resource estimate for its wholly owned Brucejack project, completed by Snowden Mining Industry Consultants' independent qualified persons. The Mineral Resource estimate, which reflects refined resource modelling as a result of infill drilling, will be used as the basis for feasibility study mine planning now underway.
The September 2012 estimate has been based on a consolidated interpretation prepared by geologists from Pretivm and Snowden to cover the drilled part of the Brucejack property. Of significance to the new interpretation is that the mineralized domains have been better defined and more tightly constrained than the previous estimate. On top of this, the new interpretations and model have been prepared including results of drilling information which comprises, since the April 2012 Mineral Resource estimate, an additional 175 drillholes (55,849 meters), into the Valley of the Kings. This has resulted in increased confidence in the definition of the mineralized zones, and subsequent increased confidence in the estimated Mineral Resource.
Valley of the Kings High-Grade Gold Mineral Resources
High-grade gold resources in the Valley of the Kings (5.0 g/t gold-equivalent cut-off) total:
-- 5.1 million ounces of gold in the Indicated Resource category (9.9 million tonnes grading 16.2 grams of gold per tonne); and -- 5.1 million ounces of gold in the Inferred Resource category (4.6 million tonnes grading 35.0 grams of gold per tonne).
The Mineral Resource estimate incorporates drilling up to hole SU-466, with ongoing drilling at the Brucejack Project currently up to hole SU-547. The Valley of the Kings now extends over 800 meters in strike length, and the Mineral Resource is defined over approximately 450 meters of the 800 meters of strike length. A majority of the Mineral Resource in the upper portion of the Valley of the Kings, between the 1200 meter and 1500 meter levels, is in the Indicated Resource category. An isometric view of Snowden's updated Valley of the Kings block model along with current drilling not included in this block model is available at http://media3.marketwire.com/docs/8173881.pdf.
Table 1: Valley of the Kings Mineral Resource estimate
- September 2012 (1)(4)
(Based on a cut-off grade of 5.0 grams of gold-equivalent/tonne(5))
Contained(3)
----------------------------
Tonnes Gold Silver Gold Silver
Category (millions) (g/t) (g/t) (million oz) (million oz)
Indicated 9.9 16.2 14.1 5.1 4.5
Inferred(2) 4.6 35.0 13.3 5.1 2.0
High-grade Mineral Resources for the West Zone are summarized in Table 2:
Table 2: West Zone Mineral Resource estimate
- April 2012(1)(4)
(Based on a cut-off grade of 5.0 grams of gold-equivalent/tonne(5))
Contained(3)
----------------------------
Tonnes Gold Silver Gold Silver
Category (millions) (g/t) (g/t) (million oz) (million oz)
Measured 2.4 5.85 347 0.5 26.8
Indicated 2.5 5.86 190 0.5 15.1
M+I 4.9 5.85 267 0.9 41.9
Inferred(2) 4.0 6.44 82 0.8 10.6
Combined high-grade Mineral Resources for the Valley of the Kings (September 2012 estimate) and West Zone (April 2012 estimate) are summarized in Table 3:
Table 3: Mineral Resource estimate: Valley of the Kings
and West Zone(1)(4)
(Based on a cut-off grade of 5.0 grams of gold-equivalent/tonne(5))
Contained(3)
----------------------------
Tonnes Gold Silver Gold Silver
(millions) (g/t) (g/t) (million oz) (million oz)
Measured Resources
West Zone 2.4 5.85 347 0.5 26.8
Indicated Resources
Valley of the Kings 9.9 16.2 14.1 5.1 4.5
West Zone 2.5 5.86 190 0.5 15.1
Total - Measured and Indicated Resources
Total 14.7 12.7 98 6.0 46.3
Inferred(2) Resources
Valley of the Kings 4.6 35.0 13.3 5.1 2.0
West Zone 4.0 6.44 82 0.8 10.6
Total -Inferred(2) Resources
Total 8.6 21.6 45.5 5.9 12.5
Mineral Resource Modeling and Estimation
The September 2012 Mineral Resource estimates for Brucejack were completed by Snowden on behalf of Pretivm. The Mineral Resources are classified as Measured, Indicated and Inferred Resources in accordance with the CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council.
Classification is applied based on geological confidence, data quality and grade variability. Areas classified as Measured Resources are within the well informed portion of West Zone where the resource is informed by 5 meter by 5 meter or 5 meter by 10 meter spaced drilling. Areas classified as Indicated Resources are informed by 20 meter by 20 meter to 20 meter by 40 meter drilling. With respect to some of the areas in the high grade zones at the Valley of the Kings that have drill spacing nearing that of the Measured Resource of West Zone, Snowden has elected to retain the Indicated Resource classification until underground sampling has demonstrated a high level of confidence in these estimates. This is because of the high grade nature of the mineralization. The remainder of the Mineral Resource is classified as an Inferred Resource where there is some drilling information and the blocks lie within the mineralised interpretation. Areas where there is no informing data and/or the lower grade material that is outside of the mineralised interpretation are not classified as a part of the Mineral Resource.
The Mineral Resources are reported above a cut-off grade of 5.0 grams of gold-equivalent/tonne (5.0 g/t AuEq). The gold-equivalent calculation used is: Au + (Ag/53).
The Brucejack Property comprises several gold-silver mineralised areas. These areas include West Zone, Valley of the Kings, Galena Hill, Bridge Zone, Gossan Hill and Shore Zone. The majority of the Mineral Resource lies within Valley of the Kings and West Zone. West Zone was not updated for this Mineral Resource as there has been very little additional drilling in this area. The West Zone estimate created as part of the previous, April 2012 Mineral Resource, and for which there has been no new information collected has been combined with the updated estimate for Valley of the Kings to produce a combined estimate.
The Valley of the Kings mineralisation is approximately 500 meters south of West Zone. The Valley of the Kings mineralized zone trends approximately west-northwest to east-southeast. Its orientation mirrors that of Electrum Ridge, a pronounced topographic feature near the southern margin of the zone, and drilling to date has extended its strike to over 800 meters. The zone is up to 150 meters wide and remains open to the west, beyond the Brucejack fault, at depth and to the east. Surface mapping and Pretivm's extensive drilling defined a number of lithologic contacts which outline a broad syncline in which fragmental volcanic and clastic sedimentary rocks, along with minor flows of Upper Triassic to Lower Jurassic age appear to plunge moderately to the east.
Snowden used Pretivm's interpretation of the lithological units at the Valley of the Kings, together with a nominal 1 to 3 g/t Au grade cut-off to define a series of mineralised domains for estimation at the Valley of the Kings. At West Zone a nominal 0.3 g/t Au grade cut-off was used to define the mineralised domains.
The input data for the Valley of the Kings estimate comprises 331 drillholes for 114,949 meters including 9 historical surface drillholes (579 meters) and 175 surface drillholes completed in the 2012 Brucejack Exploration Program (55,849 meters). The input data for the West Zone estimate comprises 756 drillholes for 62,208 meters including 439 underground drillholes (24,688 meters), 269 historical surface drillholes (21,321 meters) and 48 surface drillholes completed since 2009 (17,199 meters). These figures exclude intervals with no gold values and drillholes outside of the main deposit areas.
Both West Zone and the Valley of the Kings exhibit extremely skewed grade populations where the high grades and the majority of the metal are located in less than 5% of the data, with individual raw gold grades of up to around 41,500 g/t Au. Discussions with Pretivm and analysis of the data indicated the mineralisation can be split into a pervasive background mineralisation and a separate high-grade but discreet mineralisation style. As a result of this population distribution, standard estimation techniques have been found to significantly over smooth the grades.
In order to address the highly skewed nature of the data, Snowden separated the lower grade 'background' population from the higher grade population within these domains and estimated them independently. All data was composited to the nominal sample length of 1.5 meters prior to analysis and estimation. A threshold of 5 g/t Au was selected to separate the two populations at the Valley of the Kings and West Zone. The silver data was treated using the same method with a threshold of 50 g/t Ag for Valley of the Kings and 300 g/t Ag for West Zone.
The lower grade population was estimated using ordinary kriging into 10 meter by 10 meter by 10 meter parent blocks, except for the well informed portion of West Zone which used a 5 m by 5 m by 5 m parent block. These estimates validate well against the input data.
The higher grade populations were estimated using multiple indicator kriging to control the skewness of the data. Indicator variograms were modelled up to the 95th percentile of the data with a mathematical model used to define the top end of the grade distribution. The threshold for the 95th percentile of the higher grade population is 380 g/t Au for the Valley of the Kings and 93 g/t Au for West Zone. The result of this estimation method is that, while no top cut is used to limit the higher grades, the higher grades are limited in their influence using a mathematical model based on the higher grade data rather than the individual extreme grades in the dataset. The higher grade populations were estimated into small scale discretized blocks and then reblocked into parent blocks twice the size of those used for the lower grades to further limit the influence of the highest grades in the highest grade areas. With the additional data in the Valley of the Kings, the quality of the high grade variography has improved and now indicates an anisotropy in the grade continuity with a shorter range of continuity in the cross strike direction. This anisotropy matches the expectation based on the geological model and has been applied to the search parameters for the high grade estimation resulting in a tighter constraint on the higher-grade material in the estimate.
Subsequently, the proportion of the higher-grade mineralisation was estimated into each block and used to combine the two estimates (the low grade portion and the high grade portion) in the determination of the overall block grade. For example, if a block had a probability of 5% high grade then the final block grade would combine 95% of the low grade estimate with 5% of the high grade estimate. The influence of the high-grade population above the 95th percentile is therefore greatly restricted.
The lower-grade halo domains and the background (non-mineralised) material were estimated using ordinary kriging with a top cut.
Tonnages were estimated on a dry basis with density values estimated into the models using simple kriging where sufficient data was available. Outside of these areas, the average density of 2.78 t/m3 was applied. There is little variation in density between the different rock types.
West Zone was depleted for previous underground mining prior to reporting. No mining has occurred at the other areas to date.
The updated Mineral Resource estimate for the Valley of the Kings is significantly higher in confidence than the previous April 2012 estimate as a result of the additional drilling and the higher confidence in the geological interpretation used in the estimation. The additional drilling confirms the location of the high-grade corridors and has allowed a better estimate of the boundaries of these corridors. The updated estimate has tightened the high-grade corridors resulting in a decrease in tonnes; however the additional confidence has allowed the majority of the mineralisation above 1200 mRL to be classified as Indicated.
Other Mineral Resource Estimates
High-grade Mineral Resource estimates for Galena Hill, Bridge Zone, Gossan Hill and Shore Zone will be posted on our web site along with an updated bulk tonnage Mineral Resource estimate for the entire Brucejack Project.
Drilling Program; Resource Update
Phase two of the 2012 Brucejack Exploration Program, which has been focused on definition drilling of the shallow high-grade resources at the Valley of the Kings and testing extensions of the Valley of the Kings and other high-grade targets, is expected to be completed early in the fourth quarter. A Mineral Resource estimate incorporating all assays for the 2012 drilling season, including approximately 50,000 meters of drilling expected to be completed after hole SU-466, will be prepared by Snowden and announced on completion.
A map showing the outline of drill intercepts in the Mineral Resource estimate and the subsequent drilling not yet included in a Mineral Resource is available at http://media3.marketwire.com/docs/8173882.pdf.
The above tables summarize the high-grade Mineral Resource estimate totals for the Brucejack Project. The Mineral Resource estimate contained in this news release was prepared by Ivor Jones (FAusIMM(CP)) and Lynn Olssen (MAusIMM(CP)) of Snowden, both of whom are independent Qualified Persons, as defined by National Instrument 43-101. Mr. Jones and Ms. Olssen have reviewed and approved the contents of this news release.
Snowden delivers a comprehensive range of technical consulting services, independent advice and technology solutions to the mining sector. Snowden's areas of expertise cover both open pit and underground mining operations, for the majority of mineral commodities, with projects ranging from exploration and resource evaluation to mine planning, metallurgy, and mine optimisation. Snowden was established 25 years ago in Perth, Australia, and has eight offices located in the world's major mining regions.
Technical Session/ Conference Call
The September 2012 Brucejack Interim High-Grade Mineral Resource estimate will be presented at a technical session/conference call on Wednesday, September 19, 2012 in Toronto featuring Pretivm's Senior Management and an independent Qualified Person representing Snowden. Dial-in details will be provided.
We seek Safe Harbor.
Pretium drills 1.16 m of 4,195 g/t Au at Brucejack
2012-09-07 07:43 ET - News Release
http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aPVG-1994549&symbol=PVG®ion=C
Mr. Robert Quartermain reports
PRETIUM RESOURCES INC.: 4,195 GRAMS PER TONNE GOLD OVER 1.16 METERS EXTENDS VALLEY OF THE KINGS TO THE EAST
Pretium Resources Inc.'s step-out drilling has extended the zone of high-grade gold mineralization in the Valley of the Kings to the east by over 100 metres.
The bonanza-grade intercept from a downhole depth of 400.71 metres in hole SU-526 includes:
1.16 metres with uncut grades of 4,195 grams of gold per tonne (3.8 feet averaging 122.4 ounces gold per ton).
Additional high-grade intercepts from a downhole depth of 320.5 metres in hole SU-526 include:
0.5 metre with uncut grades of 150 grams of gold per tonne (1.6 feet averaging 4.4 ounces gold per ton);
0.5 metre with uncut grades of 752 grams of gold per tonne (1.6 feet averaging 21.9 ounces gold per ton).
Assays for a 440-metre section of hole SU-526 have been received. Assays for the remaining 92 metres of hole SU-526 will be reported as they are received.
Hole SU-526 was collared on Section 427000E along strike of the Valley of the Kings. The bonanza-grade gold interval from hole SU-526 was collared approximately 400 metres southeast of the bonanza-grade gold interval from hole SU-452, which intersected 41,582 grams per tonne gold uncut over 0.5 metre.
The Valley of the Kings now extends over 800 metres in strike length and is open to the east, west and at depth. An updated plan showing the current extent of the Valley of the Kings from hole SU-498 in the west to hole SU-526 in the east will be posted on the company's website.
Nine drills continue turning at Brucejack, with the 2012 Brucejack exploration program expected to be completed early in the fourth quarter.
SELECTED INTERCEPTS FROM DRILL HOLE SU-526
Hole From To Interval Gold Silver
No. (metres) (metres) (metres) (g/t) (g/t)
SU-526 320.5 339.5 19.0 18.3 11.7
320.5 339.5 19.0 24.9 11.7
320.5 321.0 0.5 150.0 90.0
332.86 333.36 0.5 752.0 290.0
400.71 401.87 1.16 4,195 2,405
Assay results for completed drilling will be reported as they are received over the course of the 2012 drilling season.
Feasibility study and underground program update
Feasibility study
The February, 2012, preliminary economic assessment examining the economics of the high-grade gold and silver resources at the Brucejack project (see news release dated Feb. 22, 2012) contemplated the production of gravity and flotation concentrates, which were then refined to produce gold-silver dore. In advancing the feasibility study, a trade-off study has been completed examining the benefits of selling the flotation concentrate to third parties rather than refining the concentrate to produce dore on-site. Based on the results of the trade-off study, the decision has been made to advance the feasibility study on the basis that the flotation concentrate will be sold to third parties rather than refined to produce dore on-site. With the completion of the September, 2012, Brucejack interim high-grade mineral resource estimate, the feasibility study is now expected to be completed in the second quarter of 2013.
Underground program
The underground program is designed, among other things, to access the Valley of the Kings deposit on the 1,270-metre elevation and demonstrate continuity of the high-grade gold mineralization. The first phase of the underground program, now well under way, will be to slash out the existing West zone underground workings to five by five metres down to the 1,330-metre level, a distance of approximately 500 metres. The next phase will be to 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.
Kenneth C. McNaughton, MASc, PEng, chief exploration officer, Pretium Resources, is the qualified person (QP) responsible for the Brucejack project exploration program. Ian I. Chang, MASc, PEng, vice-president, project development, Pretium Resources, is the qualified person (QP) responsible for Brucejack project development.
We seek Safe Harbor.
Pretium Resources Inc.: 4,195 Grams Per Tonne Gold Over 1.16 Meters Extends Valley of the Kings to the East
http://tmx.quotemedia.com/article.php?newsid=54107691&qm_symbol=PVG
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 7, 2012) - Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm") is pleased to report that step-out drilling has extended the zone of high-grade gold mineralization in the Valley of the Kings to the east by over 100 meters.
The bonanza-grade intercept from a downhole depth of 400.71 meters in hole SU-526 includes:
•1.16 meters with uncut grades of 4,195 grams of gold per tonne (3.8 feet averaging 122.4 ounces gold per ton).
Additional high-grade intercepts from a downhole depth of 320.5 meters in hole SU-526 include:
•0.5 meters with uncut grades of 150 grams of gold per tonne (1.6 feet averaging 4.4 ounces gold per ton); and
•0.5 meters with uncut grades of 752 grams of gold per tonne (1.6 feet averaging 21.9 ounces gold per ton).
Assays for a 440 meter section of hole SU-526 have been received. Assays for the remaining 92 meters of hole SU-526 will be reported as they are received.
Hole SU-526 was collared on section 427000E along strike of the Valley of the Kings. The bonanza-grade gold interval from Hole SU-526 was collared approximately 400 meters southeast of the bonanza-grade gold interval from hole SU-452, which intersected 41,582 grams per tonne gold uncut over 0.5 meters.
The Valley of the Kings now extends over 800 meters in strike length and is open to the east, west, and at depth. An updated plan showing the current extent of the Valley of the Kings from hole SU-498 in the west to hole SU-526 in the east will be posted on our web site, www.pretivm.com. You can also view the plan at the following link: http://media3.marketwire.com/docs/pvg907p.pdf.
Nine drills continue turning at Brucejack, with the 2012 Brucejack Exploration Program expected to be completed early in the fourth quarter.
Table 1: Selected Intercepts from Drill Hole SU-526, September 2012(1,3,4)
Hole
No.
Collar
Coords.
Dip/
Azimuth
From
(meters)
To
(meters)
Interval
(meters)
Gold
(g/t)
Silver
(g/t)
Capping
(2)
SU-526
6258096N
427000E
-57/178
320.5
339.5
19.0
18.3
11.7
1 Au sample cut
or
320.5
339.5
19.0
24.9
11.7
uncut
incl
320.5
321.0
0.5
150.0
90.0
incl
332.86
333.36
0.5
752.0
290.0
400.71
401.87
1.16
4,195
2405
uncut
(1)True thickness to be determined.
(2)Unless otherwise indicated as uncut, all gold assays over 500 g/t were cut to 500 g/t.
(3)Assays pending for the remaining 92 meters of SU-526.
(4)All samples were submitted for preparation and analysis by ALS Chemex at its facilities in Terrace, B.C. All samples were analyzed using multi-digestion with ICP finish and fire assay with AA finish for gold. Samples over 100 ppm silver were reanalyzed using four acid digestion with an ore grade AA finish. Samples over 1,500 ppm silver were fire assayed with a gravimetric finish. Samples with over 10 ppm gold were fire assayed with a gravimetric finish. One in 20 samples was blank, one in 20 was a standard sample, and differing one in 20 samples was a field duplicate one-quarter split core assayed at ALS Chemex in Vancouver, B.C.
Assay results for completed drilling will be reported as they are received over the course of the 2012 drilling season.
Feasibility Study and Underground Program Update
Feasibility Study
The February 2012 preliminary economic assessment examining the economics of the high-grade gold and silver resources at the Brucejack Project (see news release dated February 22, 2012) contemplated the production of gravity and flotation concentrates, which were then refined to produce gold-silver doré. In advancing the feasibility study, a trade-off study has been completed examining the benefits of selling the flotation concentrate to third parties rather than refining the concentrate to produce doré on site. Based on the results of the trade-off study, the decision has been made to advance the feasibility study on the basis that the flotation concentrate will be sold to third parties rather than refined to produce doré on site. With the completion of the September 2012 Brucejack interim high-grade Mineral Resource estimate, the feasibility study is now expected to be completed in the second quarter of 2013.
Underground Program
The underground program is designed, amongst other things, to access the Valley of the Kings deposit on the 1270 meter elevation and demonstrate continuity of the high-grade gold mineralization. The first phase of the underground program, now well underway, will be to slash out the existing West Zone underground workings to five-by-five meters down to the 1330 meter level, a distance of approximately 500 meters. The next phase will be to advance the decline from the 1314 meter level of the West Zone to the 1270 meter level in the Valley of the Kings, a distance of approximately 450 meters. A 10,000 tonne underground bulk sample is expected to be excavated from the 1270 meter level of the Valley of the Kings in the first half of 2013.
Kenneth C. McNaughton, M.A.Sc., P.Eng., Chief Exploration Officer, Pretium Resources Inc. is the Qualified Person (QP) responsible for the Brucejack Project exploration program. Ian I Chang, M.A.Sc., P.Eng., Vice President, Project Development, Pretium Resources Inc. is the Qualified Person (QP) responsible for Brucejack Project development.
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.
Pretium Resources Inc.: Updated, Interim High-Grade Mineral Resource Estimate Completed for Brucejack Project
http://tmx.quotemedia.com/article.php?newsid=54107180&qm_symbol=PVG
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 7, 2012) - Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm") is pleased to report an updated, interim high-grade Mineral Resource estimate for its wholly-owned Brucejack Project, completed by Snowden Mining Industry Consultants ("Snowden") independent Qualified Persons. The Mineral Resource estimate, which reflects refined resource modelling as a result of infill drilling, will be used as the basis for feasibility study mine planning now underway.
The September 2012 estimate has been based on a consolidated interpretation prepared by geologists from Pretivm and Snowden to cover the drilled part of the Brucejack property. Of significance to the new interpretation is that the mineralized domains have been better defined and more tightly constrained than the previous estimate. On top of this, the new interpretations and model have been prepared including results of drilling information which comprises, since the April 2012 Mineral Resource estimate, an additional 175 drillholes (55,849 meters), into the Valley of the Kings. This has resulted in increased confidence in the definition of the mineralized zones, and subsequent increased confidence in the estimated Mineral Resource.
Valley of the Kings High-Grade Gold Mineral Resources
High-grade gold resources in the Valley of the Kings (5.0 g/t gold-equivalent cut-off) total:
•5.1 million ounces of gold in the Indicated Resource category (9.9 million tonnes grading 16.2 grams of gold per tonne); and
•5.1 million ounces of gold in the Inferred Resource category (4.6 million tonnes grading 35.0 grams of gold per tonne).
The Mineral Resource estimate incorporates drilling up to hole SU-466, with ongoing drilling at the Brucejack Project currently up to hole SU-547. The Valley of the Kings now extends over 800 meters in strike length, and the Mineral Resource is defined over approximately 450 meters of the 800 meters of strike length. A majority of the Mineral Resource in the upper portion of the Valley of the Kings, between the 1200 meter and 1500 meter levels, is in the Indicated Resource category. An isometric view of Snowden's updated Valley of the Kings block model along with current drilling not included in this block model is available at http://media3.marketwire.com/docs/8173881.pdf.
Table 1: Valley of the Kings Mineral Resource estimate
- September 2012 (1)(4)
(Based on a cut-off grade of 5.0 grams of gold-equivalent/tonne(5))
Contained(3)
Tonnes
Gold
Silver
Gold
Silver
Category
(millions)
(g/t)
(g/t)
(million oz)
(million oz)
Indicated
9.9
16.2
14.1
5.1
4.5
Inferred(2)
4.6
35.0
13.3
5.1
2.0
(1), (2), (3), (4) and (5) See footnotes to Table 3
High-grade Mineral Resources for the West Zone are summarized in Table 2:
Table 2: West Zone Mineral Resource estimate
- April 2012(1)(4)
(Based on a cut-off grade of 5.0 grams of gold-equivalent/tonne(5))
Contained(3)
Tonnes
Gold
Silver
Gold
Silver
Category
(millions)
(g/t)
(g/t)
(million oz)
(million oz)
Measured
2.4
5.85
347
0.5
26.8
Indicated
2.5
5.86
190
0.5
15.1
M+I
4.9
5.85
267
0.9
41.9
Inferred(2)
4.0
6.44
82
0.8
10.6
(1), (2), (3), (4) and (5) See footnotes to Table 3
Combined high-grade Mineral Resources for the Valley of the Kings (September 2012 estimate) and West Zone (April 2012 estimate) are summarized in Table 3:
Table 3: Mineral Resource estimate: Valley of the Kings
and West Zone(1)(4)
(Based on a cut-off grade of 5.0 grams of gold-equivalent/tonne(5))
Contained(3)
Tonnes
Gold
Silver
Gold
Silver
(millions)
(g/t)
(g/t)
(million oz)
(million oz)
Measured Resources
West Zone
2.4
5.85
347
0.5
26.8
Indicated Resources
Valley of the Kings
9.9
16.2
14.1
5.1
4.5
West Zone
2.5
5.86
190
0.5
15.1
Total - Measured and Indicated Resources
Total
14.7
12.7
98
6.0
46.3
Inferred(2) Resources
Valley of the Kings
4.6
35.0
13.3
5.1
2.0
West Zone
4.0
6.44
82
0.8
10.6
Total -Inferred(2)Resources
Total
8.6
21.6
45.5
5.9
12.5
(1) Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, marketing, or other relevant issues. The Mineral Resources in this news release were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council.
(2) The quantity and grade of reported Inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these Inferred Resources as an Indicated or Measured Mineral Resource and it is uncertain if further exploration will result in upgrading them to an Indicated or Measured Mineral Resource category.
(3) Contained metal figures and totals may differ due to rounding of figures.
(4) The Mineral Resource estimate stated in Table 1 and 2 is defined using 5 m by 5 by 5 m blocks in the well drilled portion of West Zone (5 m by 10 m drilling or better) and 10 m by 10 m by 10 m blocks in the remainder of West Zone and in Valley of the Kings
(5) The gold equivalent value is defined as AuEq = Au + Ag/53.
Mineral Resource Modeling and Estimation
The September 2012 Mineral Resource estimates for Brucejack were completed by Snowden on behalf of Pretivm. The Mineral Resources are classified as Measured, Indicated and Inferred Resources in accordance with the CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council.
Classification is applied based on geological confidence, data quality and grade variability. Areas classified as Measured Resources are within the well informed portion of West Zone where the resource is informed by 5 meter by 5 meter or 5 meter by 10 meter spaced drilling. Areas classified as Indicated Resources are informed by 20 meter by 20 meter to 20 meter by 40 meter drilling. With respect to some of the areas in the high grade zones at the Valley of the Kings that have drill spacing nearing that of the Measured Resource of West Zone, Snowden has elected to retain the Indicated Resource classification until underground sampling has demonstrated a high level of confidence in these estimates. This is because of the high grade nature of the mineralization. The remainder of the Mineral Resource is classified as an Inferred Resource where there is some drilling information and the blocks lie within the mineralised interpretation. Areas where there is no informing data and/or the lower grade material that is outside of the mineralised interpretation are not classified as a part of the Mineral Resource.
The Mineral Resources are reported above a cut-off grade of 5.0 grams of gold-equivalent/tonne (5.0 g/t AuEq). The gold-equivalent calculation used is: Au + (Ag/53).
The Brucejack Property comprises several gold-silver mineralised areas. These areas include West Zone, Valley of the Kings, Galena Hill, Bridge Zone, Gossan Hill and Shore Zone. The majority of the Mineral Resource lies within Valley of the Kings and West Zone. West Zone was not updated for this Mineral Resource as there has been very little additional drilling in this area. The West Zone estimate created as part of the previous, April 2012 Mineral Resource, and for which there has been no new information collected has been combined with the updated estimate for Valley of the Kings to produce a combined estimate.
The Valley of the Kings mineralisation is approximately 500 meters south of West Zone. The Valley of the Kings mineralized zone trends approximately west-northwest to east-southeast. Its orientation mirrors that of Electrum Ridge, a pronounced topographic feature near the southern margin of the zone, and drilling to date has extended its strike to over 800 meters. The zone is up to 150 meters wide and remains open to the west, beyond the Brucejack fault, at depth and to the east. Surface mapping and Pretivm's extensive drilling defined a number of lithologic contacts which outline a broad syncline in which fragmental volcanic and clastic sedimentary rocks, along with minor flows of Upper Triassic to Lower Jurassic age appear to plunge moderately to the east.
Snowden used Pretivm's interpretation of the lithological units at the Valley of the Kings, together with a nominal 1 to 3 g/t Au grade cut-off to define a series of mineralised domains for estimation at the Valley of the Kings. At West Zone a nominal 0.3 g/t Au grade cut-off was used to define the mineralised domains.
The input data for the Valley of the Kings estimate comprises 331 drillholes for 114,949 meters including 9 historical surface drillholes (579 meters) and 175 surface drillholes completed in the 2012 Brucejack Exploration Program (55,849 meters). The input data for the West Zone estimate comprises 756 drillholes for 62,208 meters including 439 underground drillholes (24,688 meters), 269 historical surface drillholes (21,321 meters) and 48 surface drillholes completed since 2009 (17,199 meters). These figures exclude intervals with no gold values and drillholes outside of the main deposit areas.
Both West Zone and the Valley of the Kings exhibit extremely skewed grade populations where the high grades and the majority of the metal are located in less than 5% of the data, with individual raw gold grades of up to around 41,500 g/t Au. Discussions with Pretivm and analysis of the data indicated the mineralisation can be split into a pervasive background mineralisation and a separate high-grade but discreet mineralisation style. As a result of this population distribution, standard estimation techniques have been found to significantly over smooth the grades.
In order to address the highly skewed nature of the data, Snowden separated the lower grade 'background' population from the higher grade population within these domains and estimated them independently. All data was composited to the nominal sample length of 1.5 meters prior to analysis and estimation. A threshold of 5 g/t Au was selected to separate the two populations at the Valley of the Kings and West Zone. The silver data was treated using the same method with a threshold of 50 g/t Ag for Valley of the Kings and 300 g/t Ag for West Zone.
The lower grade population was estimated using ordinary kriging into 10 meter by 10 meter by 10 meter parent blocks, except for the well informed portion of West Zone which used a 5 m by 5 m by 5 m parent block. These estimates validate well against the input data.
The higher grade populations were estimated using multiple indicator kriging to control the skewness of the data. Indicator variograms were modelled up to the 95th percentile of the data with a mathematical model used to define the top end of the grade distribution. The threshold for the 95th percentile of the higher grade population is 380 g/t Au for the Valley of the Kings and 93 g/t Au for West Zone. The result of this estimation method is that, while no top cut is used to limit the higher grades, the higher grades are limited in their influence using a mathematical model based on the higher grade data rather than the individual extreme grades in the dataset. The higher grade populations were estimated into small scale discretized blocks and then reblocked into parent blocks twice the size of those used for the lower grades to further limit the influence of the highest grades in the highest grade areas. With the additional data in the Valley of the Kings, the quality of the high grade variography has improved and now indicates an anisotropy in the grade continuity with a shorter range of continuity in the cross strike direction. This anisotropy matches the expectation based on the geological model and has been applied to the search parameters for the high grade estimation resulting in a tighter constraint on the higher-grade material in the estimate.
Subsequently, the proportion of the higher-grade mineralisation was estimated into each block and used to combine the two estimates (the low grade portion and the high grade portion) in the determination of the overall block grade. For example, if a block had a probability of 5% high grade then the final block grade would combine 95% of the low grade estimate with 5% of the high grade estimate. The influence of the high-grade population above the 95th percentile is therefore greatly restricted.
The lower-grade halo domains and the background (non-mineralised) material were estimated using ordinary kriging with a top cut.
Tonnages were estimated on a dry basis with density values estimated into the models using simple kriging where sufficient data was available. Outside of these areas, the average density of 2.78 t/m3 was applied. There is little variation in density between the different rock types.
West Zone was depleted for previous underground mining prior to reporting. No mining has occurred at the other areas to date.
The updated Mineral Resource estimate for the Valley of the Kings is significantly higher in confidence than the previous April 2012 estimate as a result of the additional drilling and the higher confidence in the geological interpretation used in the estimation. The additional drilling confirms the location of the high-grade corridors and has allowed a better estimate of the boundaries of these corridors. The updated estimate has tightened the high-grade corridors resulting in a decrease in tonnes; however the additional confidence has allowed the majority of the mineralisation above 1200 mRL to be classified as Indicated.
Other Mineral Resource Estimates
High-grade Mineral Resource estimates for Galena Hill, Bridge Zone, Gossan Hill and Shore Zone will be posted on our web site along with an updated bulk tonnage Mineral Resource estimate for the entire Brucejack Project.
Drilling Program; Resource Update
Phase two of the 2012 Brucejack Exploration Program, which has been focused on definition drilling of the shallow high-grade resources at the Valley of the Kings and testing extensions of the Valley of the Kings and other high-grade targets, is expected to be completed early in the fourth quarter. A Mineral Resource estimate incorporating all assays for the 2012 drilling season, including approximately 50,000 meters of drilling expected to be completed after hole SU-466, will be prepared by Snowden and announced on completion.
A map showing the outline of drill intercepts in the Mineral Resource estimate and the subsequent drilling not yet included in a Mineral Resource is available at http://media3.marketwire.com/docs/8173882.pdf.
The above tables summarize the high-grade Mineral Resource estimate totals for the Brucejack Project. The Mineral Resource estimate contained in this news release was prepared by Ivor Jones (FAusIMM(CP)) and Lynn Olssen (MAusIMM(CP)) of Snowden, both of whom are independent Qualified Persons, as defined by National Instrument 43-101. Mr. Jones and Ms. Olssen have reviewed and approved the contents of this news release.
Snowden delivers a comprehensive range of technical consulting services, independent advice and technology solutions to the mining sector. Snowden's areas of expertise cover both open pit and underground mining operations, for the majority of mineral commodities, with projects ranging from exploration and resource evaluation to mine planning, metallurgy, and mine optimisation. Snowden was established 25 years ago in Perth, Australia, and has eight offices located in the world's major mining regions.
Technical Session/ Conference Call
The September 2012 Brucejack Interim High-Grade Mineral Resource estimate will be presented at a technical session/conference call on Wednesday, September 19, 2012 in Toronto featuring Pretivm's Senior Management and an independent Qualified Person representing Snowden. Dial-in details will be provided.
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.
Seabridge Discovers High Grade Epithermal Gold Deposit at KSM Project
New Discovery Geochemically Similar to Neighboring Brucejack Mineralization
http://finance.yahoo.com/news/seabridge-discovers-high-grade-epithermal-103000453.html
Roulston says why to buy Pretium Resources
2012-08-28 17:39 ET - In the News
This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.
Pretium Resources Inc.: More High-Grade Gold Intersected; Valley of the Kings Extended to the East
http://finance.yahoo.com/news/pretium-resources-inc-more-high-090000252.html
VANCOUVER, BRITISH COLUMBIA--(Marketwire -08/28/12)- Pretium Resources Inc. (PVG.TO)(PVG) ("Pretivm") is pleased to report results from the ongoing drill program at its high-grade gold Brucejack Project in northern British Columbia. Current results include a number of assays grading over 1,000 grams per tonne gold and extend the zone of gold mineralization in the Valley of the Kings by 100 meters to the east. (See Table 1 below for assays.)
Selected highlights from the Valley of the Kings include:
-- Hole SU-493 intersected:
-- 1,751 grams of gold per tonne uncut over 1.19 meters (51.1 ounces
gold per ton over 3.9 feet) and
-- 1,668 grams of gold per tonne uncut over 0.85 meters (48.6 ounces
gold per ton over 2.8 feet);
-- Hole SU-468 intersected 1,425 grams of gold per tonne uncut over 0.50
meters (41.6 ounces gold per ton over 1.6 feet);
-- Hole SU-490 intersected 1,350 grams of gold per tonne uncut over 0.50
meters (39.4 ounces gold per ton over 1.6 feet) and
-- Hole SU-498 (previously reported) intersected 3,874 grams of gold per
tonne uncut over 0.50 meters (1.6 feet averaging 112.9 ounces of gold
per ton).
The high-grade intercept noted above from hole SU-468 was intersected 11.5 meters southeast and 36.0 meters below the previously-reported bonanza-grade intercept from hole SU-452 grading 41,582 grams per tonne gold uncut over 0.50 meters (see news release dated July 25, 2012).
Hole SU-496, a 100-meter eastern step-out hole, intersected 30.1 grams of gold and 1,760 grams of silver per tonne over 0.60 meters. Hole SU-496 was collared on section 426900E and is along trend with hole SU-458.
Assays over 1,000 grams per tonne gold include the previously-reported hole SU-498, a step-out hole 60 meters west of the Brucejack Fault which includes an intercept grading 3,874 grams per tonne gold uncut over 0.50 meters within a longer interval grading 1,034 grams of gold per tonne uncut over 1.88 meters (see news release dated August 14, 2012).
The Valley of the Kings now extends over 700 meters in length and is open to the east, west, and at depth. An updated plan showing the current extent of the Valley of the Kings from hole SU-498 in the west to hole SU-496 in the east will be posted on our web site, www.pretivm.com.
To view the map that accompanies this press release, please visit: http://media3.marketwire.com/docs/pvg-0828-map.pdf.
Nine drills are now turning at Brucejack, with a continued focus on definition drilling and testing extensions of the Valley of the Kings.
Table 1: Selected Brucejack Project Drill Results, August 2012 (SU-461 to
SU-500)(1,4)
----------------------------------------------------------------------------
Inter-
From To val
Hole Collar Dip/ (met- (met- (met- Gold Silver Capping
No. Coords. Azimuth ers) ers) ers) (g/t) (g/t) (2)
----------------------------------------------------------------------------
VALLEY OF THE KINGS
----------------------------------------------------------------------------
SU-461 6257938N -50/358 190.00 191.50 1.50 16.65 10.00
426625E
----------------------------------------------------------------------------
204.27 207.18 2.91 14.01 18.49
----------------------------------------------------------------------------
incl 206.68 207.18 0.50 66.60 35.80
----------------------------------------------------------------------------
379.30 381.00 1.70 20.70 231.00
----------------------------------------------------------------------------
SU-462 6258135N -50/178 173.64 174.14 0.50 27.20 17.20
426475E
----------------------------------------------------------------------------
183.05 183.55 0.50 14.90 16.40
----------------------------------------------------------------------------
378.80 379.30 0.50 205.00 47.90
----------------------------------------------------------------------------
SU-463 6257960N -45/178 9.50 15.50 6.00 18.31 21.32
426450E
----------------------------------------------------------------------------
incl 9.50 11.00 1.50 39.50 40.90
----------------------------------------------------------------------------
incl 13.42 13.92 0.50 72.50 29.10
----------------------------------------------------------------------------
SU-464 6257990N -45/178 162.00 166.50 4.50 9.32 13.43
426375E
----------------------------------------------------------------------------
incl 165.00 166.50 1.50 23.40 17.90
----------------------------------------------------------------------------
SU-465 6257899N -65/358 229.50 232.50 3.00 5.19 291.00
426800E
----------------------------------------------------------------------------
SU-466 6258021N -50/178 220.50 223.49 2.99 8.27 8.84
426300E
----------------------------------------------------------------------------
SU-467 6258005N -50/178 46.08 46.58 0.50 105.50 59.60
426450E
----------------------------------------------------------------------------
SU-468 6257870N -65/358 40.00 41.50 1.50 7.48 389.00
426625E
----------------------------------------------------------------------------
142.50 144.00 1.50 26.90 19.00
----------------------------------------------------------------------------
216.25 228.13 11.88 26.38 53.64 1 Au
sample
cut
----------------------------------------------------------------------------
or 216.25 228.13 11.88 65.31 49.55 uncut
----------------------------------------------------------------------------
incl 216.25 216.75 0.50 99.30 97.00
----------------------------------------------------------------------------
incl 227.63 228.13 0.50 1,425 857.00
----------------------------------------------------------------------------
288.00 289.50 1.50 22.90 15.10
----------------------------------------------------------------------------
SU-469 6258050N -50/178 169.05 169.55 0.50 201.00 80.10
426300E
----------------------------------------------------------------------------
268.51 270.36 1.85 22.90 20.60
----------------------------------------------------------------------------
SU-470 6258090N -68/178 205.24 205.83 0.59 8.82 32.30
426825E
----------------------------------------------------------------------------
356.00 357.50 1.50 11.50 21.70
----------------------------------------------------------------------------
SU-471 6258003N -48/178 183.00 184.50 1.50 16.30 6.30
426550E
----------------------------------------------------------------------------
SU-472 6257938N -45/358 301.00 302.50 1.50 16.80 43.00
426625E
----------------------------------------------------------------------------
SU-473 6258035N -50/178 90.50 100.00 9.50 18.45 23.45
426450E
----------------------------------------------------------------------------
incl 90.50 92.33 1.83 44.80 28.60
----------------------------------------------------------------------------
incl 98.50 100.00 1.50 58.50 55.40
----------------------------------------------------------------------------
198.99 205.00 6.01 10.86 29.83
----------------------------------------------------------------------------
incl 198.99 199.62 0.63 75.60 75.50
----------------------------------------------------------------------------
SU-474 6258085N -50/178 55.50 57.00 1.50 7.87 96.30
426425E
----------------------------------------------------------------------------
358.16 359.35 1.19 7.58 307.00
----------------------------------------------------------------------------
SU-475 6258027N -60/358 178.50 180.00 1.50 23.40 194.00
426337E
----------------------------------------------------------------------------
213.50 214.19 0.69 10.15 440.00
----------------------------------------------------------------------------
237.84 252.00 14.16 23.06 20.28
----------------------------------------------------------------------------
incl 237.84 238.34 0.50 20.50 26.50
----------------------------------------------------------------------------
incl 250.50 252.00 1.50 201.00 124.00
----------------------------------------------------------------------------
SU-476 6258080N -50/178 127.85 128.35 0.50 17.50 5.90
426300E
----------------------------------------------------------------------------
135.07 135.57 0.50 19.75 10.80
----------------------------------------------------------------------------
173.70 183.00 9.30 21.44 15.33
----------------------------------------------------------------------------
incl 173.70 175.50 1.80 95.30 46.10
----------------------------------------------------------------------------
incl 181.50 183.00 1.50 15.10 12.20
----------------------------------------------------------------------------
SU-477 6257965N -45/178 84.00 85.50 1.50 5.63 145.00
426462E
----------------------------------------------------------------------------
SU-479 6257938N -53/358 212.00 213.36 1.36 6.96 11.50
426625E
----------------------------------------------------------------------------
226.50 227.94 1.44 5.93 8.20
----------------------------------------------------------------------------
SU-480 6258088N -50/178 2.44 3.97 1.53 29.50 1,490
426750E
----------------------------------------------------------------------------
17.50 19.00 1.50 14.70 85.80
----------------------------------------------------------------------------
182.50 185.50 3.00 7.92 13.55
----------------------------------------------------------------------------
SU-481 6258114N -50/178 184.75 194.02 9.27 90.23 64.31 1 Au
426425E sample
cut
----------------------------------------------------------------------------
or 184.75 194.02 9.27 127.96 64.31 uncut
----------------------------------------------------------------------------
incl 184.75 185.25 0.50 403.00 328.00
----------------------------------------------------------------------------
incl 185.25 185.75 0.50 34.90 61.40
----------------------------------------------------------------------------
incl 185.75 186.50 0.75 156.50 101.00
----------------------------------------------------------------------------
incl 191.49 192.36 0.87 902.00 245.00
----------------------------------------------------------------------------
incl 193.02 194.02 1.00 57.60 49.20
----------------------------------------------------------------------------
SU-482 6257903N -50/358 125.11 136.00 10.89 26.48 20.77
426625E
----------------------------------------------------------------------------
incl 125.11 125.63 0.52 372.00 216.00
----------------------------------------------------------------------------
incl 134.50 136.00 1.50 40.80 23.80
----------------------------------------------------------------------------
443.50 445.00 1.50 22.80 17.90
----------------------------------------------------------------------------
SU-484 6257980N -45/178 33.35 41.50 8.15 12.14 17.43
426462E
----------------------------------------------------------------------------
incl 33.35 33.85 0.50 51.40 32.10
----------------------------------------------------------------------------
incl 40.00 41.50 1.50 44.90 61.90
----------------------------------------------------------------------------
SU-485 6257999N -50/358 197.32 197.82 0.50 567.00 305.00
426362E
----------------------------------------------------------------------------
254.67 256.00 1.33 22.00 16.10
----------------------------------------------------------------------------
285.26 285.76 0.50 26.30 5.70
----------------------------------------------------------------------------
SU-486 6258175N -50/178 10.36 10.86 0.50 717.00 611.00
426750E
----------------------------------------------------------------------------
54.85 59.91 5.06 13.63 15.50
----------------------------------------------------------------------------
incl 57.97 58.47 0.50 110.50 68.30
----------------------------------------------------------------------------
154.50 155.95 1.45 79.50 85.00
----------------------------------------------------------------------------
207.00 216.57 9.57 17.89 57.30
----------------------------------------------------------------------------
incl 215.93 216.57 0.64 206.00 65.20
----------------------------------------------------------------------------
393.00 394.50 1.50 17.40 23.90
----------------------------------------------------------------------------
SU-489 6258123N -52/178 42.86 45.71 2.85 35.10 767.49
426675E
----------------------------------------------------------------------------
44.29 45.71 1.42 55.30 914.00
----------------------------------------------------------------------------
SU-490 6258115N -45/178 67.23 79.07 11.84 46.85 38.98 2 Au
426350E samples
cut
----------------------------------------------------------------------------
or 67.23 79.07 11.84 90.43 38.98 uncut
----------------------------------------------------------------------------
incl 67.23 67.73 0.50 682.00 119.00
----------------------------------------------------------------------------
incl 78.07 78.57 0.50 1,350 677.00
----------------------------------------------------------------------------
incl 78.57 79.07 0.50 97.10 43.50
----------------------------------------------------------------------------
364.48 364.98 0.50 517.00 151.00
----------------------------------------------------------------------------
SU-491 6257879N -55/358 250.50 264.63 14.13 19.61 23.17
426637E
----------------------------------------------------------------------------
250.50 251.50 1.00 34.40 53.70
----------------------------------------------------------------------------
264.13 264.63 0.50 443.00 282.00
----------------------------------------------------------------------------
SU-493 6257870N -60/358 143.91 160.88 16.97 56.75 113.75 2 Au
426287E samples
cut
----------------------------------------------------------------------------
or 143.91 160.88 16.97 150.39 113.75 uncut
----------------------------------------------------------------------------
incl 143.91 145.10 1.19 1,751 1250.00 uncut
----------------------------------------------------------------------------
incl 152.87 153.37 0.50 700.00 387.00
----------------------------------------------------------------------------
incl 160.38 160.88 0.50 206.00 404.00
----------------------------------------------------------------------------
258.17 258.81 0.64 128.00 45.90
----------------------------------------------------------------------------
298.38 299.23 0.85 1,668 493.00 uncut
----------------------------------------------------------------------------
SU-495 6258139N -45/178 55.12 55.62 0.50 544.00 325.00
426350E
----------------------------------------------------------------------------
380.34 380.91 0.57 383.00 105.00
----------------------------------------------------------------------------
SU-496 6257882N -68/358 297.80 298.40 0.60 30.10 1760.00
426900E
----------------------------------------------------------------------------
SU-497 6258203N -52/178 79.50 82.50 3.00 18.60 10.10
426675E
----------------------------------------------------------------------------
incl 79.50 81.00 1.50 31.80 10.00
----------------------------------------------------------------------------
254.23 254.73 0.50 47.00 28.30
----------------------------------------------------------------------------
451.44 451.94 0.50 828.00 511.00
----------------------------------------------------------------------------
SU-498(3) 6257960N -50/360 16.00 17.50 1.50 12.50 11.70
426223E
----------------------------------------------------------------------------
75.62 77.50 1.88 136.81 403.83 1 Au
sample
cut
----------------------------------------------------------------------------
or 75.62 77.50 1.88 1,034 403.83 uncut
----------------------------------------------------------------------------
incl 75.62 76.12 0.50 3,874 1504.60 uncut
----------------------------------------------------------------------------
SU-499 6257811N -90/360 55.50 61.50 6.00 0.62 344.75
426503E
----------------------------------------------------------------------------
SU-500 6258143N -50/178 279.50 280.02 0.52 53.50 37.90
426425E
----------------------------------------------------------------------------
428.45 428.95 0.50 17.60 14.60
----------------------------------------------------------------------------
MAMMOTH ZONE
----------------------------------------------------------------------------
SU-483 6257870N -50/178 83.60 86.56 2.96 125.73 90.27
426287E
----------------------------------------------------------------------------
incl 85.00 86.56 1.56 223.00 165.00
----------------------------------------------------------------------------
(1) True thickness to be determined.
(2) Unless otherwise indicated as uncut, all gold assays over 500 g/t were
cut to 500 g/t.
(3) Previously reported.
(4) All samples were submitted for preparation and analysis by ALS Chemex at
its facilities in Terrace, B.C. All samples were analyzed using multi-
digestion with ICP finish. Samples over 100 ppm silver were reanalyzed using
four acid digestion with an ore grade AA finish. Samples over 1,000 ppm
silver were fire assayed with a gravimetric finish. Samples with over 10 ppm
gold were fire assayed with a gravimetric finish. One in 10 samples was
blank, one in 20 was a standard sample, and differing one in 20 samples was
a field duplicate one-quarter split core assayed at ALS Chemex in Vancouver,
B.C.
Assay results for completed drilling will be reported as they are received over the course of the 2012 drilling season.
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 early 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.
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
Pretium closes $20.7-million financing
2012-08-24 09:39 ET - News Release
Mr. Robert Quartermain reports
PRETIVM CLOSES BOUGHT PRIVATE PLACEMENT OF FLOW-THROUGH SHARES
Pretium Resources Inc. has closed its private placement of 1.15 million flow-through common shares of Pretivm at a price of $18 per flow-through share for aggregate gross proceeds of $20.7-million. The offering includes the full exercise of the underwriters' option to purchase an additional 150,000 flow-through common shares pursuant to the previously announced bought deal private placement. The syndicate of underwriters was led by Salman Partners Inc. and included CIBC World Markets Inc., Cormark Securities Inc., GMP Securities LP and Scotia Capital Inc.
The gross proceeds of the offering will be used to expand the 2012 Brucejack exploration program with 100,000 metres of drilling planned, predominantly in the Valley of the Kings. The gross proceeds of the offering will be used during the 2012 exploration program to incur eligible Canadian exploration expenses (CEE) that will qualify as flow-through mining expenditures, as defined in Subsection 127(9) of the Income Tax Act (Canada), and "B.C. flow-through mining expenditures," as defined in the Income Tax Act (British Columbia), which will be renounced to the subscribers with an effective date no later than Dec. 31, 2012. In the event the company is unable to renounce qualifying expenditures effective on or prior to Dec. 31, 2012, to the initial purchasers of flow-through shares in an aggregate amount not less than the gross proceeds raised from the issue of the flow-through shares or such expenditures are reduced by the Canada Revenue Agency, the company will indemnify each flow-through share subscriber for the additional taxes payable by such subscriber as a result of the company's failure to renounce the qualifying expenditures as agreed.
The flow-through shares were sold to accredited investors in all provinces of Canada pursuant to applicable securities laws. Subscribers under the offering are not permitted to trade the flow-through shares for a period of four months plus one day from the closing of the offering.
PM Miners that haven't moved yet?
Alexco AXU hasn't really moved yet and i'm thinking about getting back in with them.
By miner I assume you mean companies that are actually producing?
The developers/explorers are still hovering near their lows. If this rally is for real then those guys will really take off in the coming months. Hundreds to choose from - I know many on this board have their favorites...
Pretium Resources Inc.: 3,874 Grams Per Tonne Gold Intersection Extends Valley of the Kings West of the Brucejack Fault
http://finance.yahoo.com/news/pretium-resources-inc-3-874-090000735.html
VANCOUVER, BRITISH COLUMBIA--(Marketwire -08/14/12)- Pretium Resources Inc. (PVG.TO)(PVG) ("Pretivm") is pleased to report that step-out drilling has extended the zone of high-grade gold mineralization in the Valley of the Kings to the west of the Brucejack Fault by over 60 meters.
The bonanza-grade intercept from a downhole depth of 75.62 meters in hole SU-498 includes:
-- 0.5 meters grading 3,874 grams of gold per tonne uncut (1.6 feet
averaging 112.9 ounces gold per ton).
The intercept from SU-498 noted above is part of a longer interval grading 1,034 grams of gold per tonne uncut over 1.88 meters (6.2 feet averaging 30.2 ounces of gold per ton). Assays for the remainder of hole SU-498 will be reported as they are received.
Hole SU-498 was collared 62 meters west of the Brucejack Fault on section 426223E, along trend and strike of the Valley of the Kings. The bonanza-grade gold interval from Hole SU-498 was intersected 88 meters west of the interval from hole SU-135 which intersected 1,070 grams per tonne gold uncut over 0.5 meters, and 90 meters west and 20 meters north of the interval from hole SU-150 which intersected 6,670 grams per tonne gold uncut over 0.5 meters. A plan view of the Valley of the Kings showing the location of hole SU-498 will be posted on our web site, www.pretivm.com.
To view the Brucejack Property, Valley of the Kings map, please visit: http://media3.marketwire.com/docs/pvg814-F1.pdf.
Seven drills are now turning at Brucejack, and in light of recent drilling success, two additional drills are being mobilized to site.
We believe the Brucejack gold-silver deposits represent (the now eastward tilted and deformed) higher level transitional meso- to epithermal mineralization within the sericitic alteration zone of a telescoped porphyry deposit, with the high-grade gold mineralization at the Valley of the Kings hosted in deformed quartz, quartz-carbonate, and quartz-adularia veins, vein breccias, and stockworks. The 2012 Brucejack Exploration Program continues to confirm our geological interpretation. In turn, our geological interpretation is consistently allowing us to expand the Valley of the Kings mineralization to the east and at depth and now, as evidenced by hole SU-498, to the west of the Brucejack Fault.
Table 1: Selected Intercepts from Drill Hole SU-498, August 2012(1,3,4)
----------------------------------------------------------------------------
Hole Collar Dip/ From To Interval Gold Silver Capping
No. Coords. Azimuth (meters) (meters) (meters) (g/t) (g/t) (2)
----------------------------------------------------------------------------
SU- 6257960N
498 426223E -50/360 16.00 17.50 1.50 12.50 11.70
----------------------------------------------------------------------------
1 Au
sample
75.62 77.50 1.88 136.81 403.83 cut
----------------------------------------------------------------------------
or 75.62 77.50 1.88 1,034 403.83 uncut
----------------------------------------------------------------------------
75.62 76.12 0.50 3,874 1504.60 uncut
----------------------------------------------------------------------------
(1)True thickness to be determined.
(2)Unless otherwise indicated as uncut, all gold assays over 500 g/t were
cut to 500 g/t.
(3)Assays pending for the remaining 382 meters of SU-498.
(4)All samples were submitted for preparation and analysis by ALS Chemex at
its facilities in Terrace, B.C. All samples were analyzed using multi-
digestion with ICP finish. Samples over 100 ppm silver were reanalyzed
using four acid digestion with an ore grade AA finish. Samples over 1,000
ppm silver were fire assayed with a gravimetric finish. Samples with over
10 ppm gold were fire assayed with a gravimetric finish. One in 10 samples
was blank, one in 20 was a standard sample, and differing one in 20 samples
was a field duplicate one-quarter split core assayed at ALS Chemex in
Vancouver, B.C.
Assay results for completed drilling will be reported as they are received over the course of the 2012 drilling season.
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 advanced-staged exploration projects Brucejack and Snowfield, located in northern British Columbia. Pretivm is advancing the high-grade, underground gold opportunity at Brucejack, which hosts a significant undeveloped high-grade gold resource.
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:.
.
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
PVG +1.26% $15.29 financing at a premium ($18) for more drilling in the Valley of the Kings this year.
Pretivm Announces Bought Private Placement Of Flow-Through Shares
http://investorshub.advfn.com/boards/post_new.aspx?board_id=20025
VANCOUVER, BRITISH COLUMBIA--(Marketwire -08/08/12)- NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER U.S. NEWSWIRE SERVICES
Pretium Resources Inc. (PVG.TO)(PVG) ("Pretivm" or the "Company") is pleased to announce that it has entered into a bought deal agreement with a syndicate of underwriters led by Salman Partners Inc. (the "Underwriters"), to issue by way of private placement 1,000,000 flow-through common shares ("Flow-Through Shares") of Pretivm at a price of $18.00 per Flow-Through Share for aggregate gross proceeds of $18.0 million (the "Offering"). The Offering is scheduled to close on or about August 24, 2012, subject to regulatory approvals.
The gross proceeds of the Offering will be used to expand the 2012 Brucejack Exploration Program with 100,000 meters of drilling planned, predominantly in the Valley of the Kings. The gross proceeds of the Offering will be used during the 2012 exploration program to incur eligible Canadian Exploration Expenses ("CEE") that will qualify as "flow through mining expenditures", as defined in subsection 127(9) of the Income Tax Act (Canada), and "BC flow-through mining expenditures", as defined in the Income Tax Act (British Columbia), (the "Qualifying Expenditures"), which will be renounced to the subscribers with an effective date no later than December 31, 2012. In the event the Company is unable to renounce Qualifying Expenditures effective on or prior to December 31, 2012 to the initial purchasers of Flow-Through Shares in an aggregate amount not less than the gross proceeds raised from the issue of the Flow-Through Shares or such expenditures are reduced by the Canada Revenue Agency, the Company will indemnify each Flow-Through Share subscriber for the additional taxes payable by such subscriber as a result of the Company's failure to renounce the Qualifying Expenditures as agreed.
The Underwriters have been granted an option to purchase, or arrange for substituted purchasers for, up to an additional 150,000 Flow-Through Shares at the issue price at any point up until 48 hours prior to closing of the Offering.
The Flow-Through Shares will be offered to accredited investors in all Provinces of Canada pursuant to applicable securities laws. Subscribers under the Offering will not be permitted to trade the Flow-Through Shares for a period of four months plus one day from the closing of the offering. The Flow-Through Shares offered have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of such Act.
About Pretivm
Pretivm is creating value through gold at its advanced-staged exploration projects Brucejack and Snowfield, located in northern British Columbia. Pretivm is advancing the high-grade, underground gold opportunity at Brucejack, which hosts a significant undeveloped high-grade gold resource.
Forward-Looking Statement
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 unsatisfactory results of due diligence, the ability to satisfy the conditions of closing of Offering and general economic conditions, 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:.
.
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
PVG +1.26% $15.29 financing at a premium ($18) for more drilling in the Valley of the Kings this year.
Pretivm Announces Bought Private Placement Of Flow-Through Shares
http://investorshub.advfn.com/boards/post_new.aspx?board_id=20025
VANCOUVER, BRITISH COLUMBIA--(Marketwire -08/08/12)- NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER U.S. NEWSWIRE SERVICES
Pretium Resources Inc. (PVG.TO)(PVG) ("Pretivm" or the "Company") is pleased to announce that it has entered into a bought deal agreement with a syndicate of underwriters led by Salman Partners Inc. (the "Underwriters"), to issue by way of private placement 1,000,000 flow-through common shares ("Flow-Through Shares") of Pretivm at a price of $18.00 per Flow-Through Share for aggregate gross proceeds of $18.0 million (the "Offering"). The Offering is scheduled to close on or about August 24, 2012, subject to regulatory approvals.
The gross proceeds of the Offering will be used to expand the 2012 Brucejack Exploration Program with 100,000 meters of drilling planned, predominantly in the Valley of the Kings. The gross proceeds of the Offering will be used during the 2012 exploration program to incur eligible Canadian Exploration Expenses ("CEE") that will qualify as "flow through mining expenditures", as defined in subsection 127(9) of the Income Tax Act (Canada), and "BC flow-through mining expenditures", as defined in the Income Tax Act (British Columbia), (the "Qualifying Expenditures"), which will be renounced to the subscribers with an effective date no later than December 31, 2012. In the event the Company is unable to renounce Qualifying Expenditures effective on or prior to December 31, 2012 to the initial purchasers of Flow-Through Shares in an aggregate amount not less than the gross proceeds raised from the issue of the Flow-Through Shares or such expenditures are reduced by the Canada Revenue Agency, the Company will indemnify each Flow-Through Share subscriber for the additional taxes payable by such subscriber as a result of the Company's failure to renounce the Qualifying Expenditures as agreed.
The Underwriters have been granted an option to purchase, or arrange for substituted purchasers for, up to an additional 150,000 Flow-Through Shares at the issue price at any point up until 48 hours prior to closing of the Offering.
The Flow-Through Shares will be offered to accredited investors in all Provinces of Canada pursuant to applicable securities laws. Subscribers under the Offering will not be permitted to trade the Flow-Through Shares for a period of four months plus one day from the closing of the offering. The Flow-Through Shares offered have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of such Act.
About Pretivm
Pretivm is creating value through gold at its advanced-staged exploration projects Brucejack and Snowfield, located in northern British Columbia. Pretivm is advancing the high-grade, underground gold opportunity at Brucejack, which hosts a significant undeveloped high-grade gold resource.
Forward-Looking Statement
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 unsatisfactory results of due diligence, the ability to satisfy the conditions of closing of Offering and general economic conditions, 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:.
.
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
I know of a mine or two in British Colombia...
Gold Fields Looking to Buy Mines to Replace Domestic Supplies
http://www.bloomberg.com/news/2012-07-31/gold-fields-looking-to-buy-mines-to-replace-domestic-supplies.html
Mines in the Andean corridor in South America, British Columbia in Canada, the Tien Shan belt that runs through Kyrgyzstan and China, and the Philippines are of particular interest, Nick Holland, chief executive officer of the Johannesburg-based company, said today in an interview, declining to say when a deal might be concluded. It’s also exploring for mines in Australia, he said.
I know of a mine or two in British Colombia...
Gold Fields Looking to Buy Mines to Replace Domestic Supplies
http://www.bloomberg.com/news/2012-07-31/gold-fields-looking-to-buy-mines-to-replace-domestic-supplies.html
Mines in the Andean corridor in South America, British Columbia in Canada, the Tien Shan belt that runs through Kyrgyzstan and China, and the Philippines are of particular interest, Nick Holland, chief executive officer of the Johannesburg-based company, said today in an interview, declining to say when a deal might be concluded. It’s also exploring for mines in Australia, he said.
Pretium Resources Inc.: Record High-Grade Gold Interval Extended; Additional High-Grade Results in Valley of the Kings
http://finance.yahoo.com/news/pretium-resources-inc-record-high-090000139.html
VANCOUVER, BRITISH COLUMBIA--(Marketwire -07/31/12)- Pretium Resources Inc. (PVG.TO)(PVG) ("Pretivm") is pleased to report the remaining assays for hole SU-452, which includes the highest-grading gold intersection encountered to date at the Brucejack project, and additional bonanza-grade results from drilling in Valley of the Kings. (See Table 1 below for assays.)
The bonanza-grade interval from hole SU-452 now extends over 10 meters, from a downhole depth of 198.79 meters, with an average grade of:
-- 2,393 grams of gold and 1,605 grams of silver per tonne uncut over 10.71
meters (70.3 ounces gold and 46.8 ounces silver per ton over 35.1 feet).
The high-grade interval noted above includes the previously-reported record intercept of 41,582 grams of gold and 27,725 grams of silver per tonne uncut over 0.5 meters (see news release dated July 25, 2012). Hole SU-452 also intersected 1,130 grams of gold per tonne uncut over 0.65 meters from a downhole depth of 150.79 meters.
A total of seven separate intervals grading over 20 grams of gold per tonne were intersected in hole SU-452. To view hole SU-452 on the updated cross section through the Valley of the Kings at section 426625E please visit the following link: http://media3.marketwire.com/docs/pvg731-F1.pdf.
Other results from the Valley of the Kings include:
-- Hole SU-445 intersected 5,242 grams of gold per tonne uncut over 0.57
meters (152.9 ounces of gold per ton over 1.9 feet); and
-- Hole SU-447 intersected 3,660 grams of gold per tonne uncut over 0.54
meters (106.7 ounces of gold per ton over 1.8 feet); and
-- Hole SU-434 intersected 2,400 grams of gold per tonne uncut over 0.50
meters (70.0 ounces of gold per ton over 1.6 feet); and
-- Hole SU-440 intersected 1,140 grams of gold per tonne uncut over 0.50
meters (33.3 ounces of gold per ton over 1.6 feet).
The holes noted above were collared from the far western margin of the Valley of the Kings to the far eastern margin, respectively, with holes SU-434 and SU-440 drilled from the same pad. Also of note is hole SU-458, a 50-meter eastern step-out hole which intersected 433 grams of gold per tonne over 0.5 meters. The Valley of the Kings now extends over 550 meters in length, and remains open along strike and at depth.
Table 1: Selected Brucejack Project Drill Results, July 2012 (SU-431 to SU-
460) (1,4)
----------------------------------------------------------------------------
Hole Collar Dip/ From To Interval Gold Silver Capping
No. Coords. Azimuth (meters) (meters) (meters) (g/t) (g/t) (2)
----------------------------------------------------------------------------
VALLEY OF THE KINGS
----------------------------------------------------------------------------
SU- 6257996N -45/178
431 426438E 29.60 30.10 0.50 180.50 79.60
----------------------------------------------------------------------------
SU- 6257870N -50/358
432 426625E 180.97 182.13 1.16 41.00 78.70
----------------------------------------------------------------------------
284.59 285.09 0.50 128.50 77.70
----------------------------------------------------------------------------
SU- 6257920N -65/358
433 426325E 178.00 179.50 1.50 19.65 23.40
----------------------------------------------------------------------------
SU- 6257850N -70/178
434 426663E 97.00 98.50 1.50 49.6 46.6
----------------------------------------------------------------------------
203.80 205.59 1.79 37.30 2,600
----------------------------------------------------------------------------
290.83 291.33 0.50 2,400 1,610
----------------------------------------------------------------------------
335.77 336.77 1.00 244.50 157.00
----------------------------------------------------------------------------
SU- 6258015N -50/178
435 426388E 280.00 281.00 1.00 85.70 36.80
----------------------------------------------------------------------------
SU- 6257995N -60/358
438 426338E 261.00 262.50 1.50 22.00 18.40
----------------------------------------------------------------------------
SU- 6257850N -55/178
440 426663E 222.28 222.78 0.50 1,140 665.00
----------------------------------------------------------------------------
275.50 277.39 1.89 32.53 16.69
----------------------------------------------------------------------------
incl 276.89 277.39 0.50 64.60 21.10
----------------------------------------------------------------------------
SU- 6258040N -50/178
441 426475E 205.07 205.57 0.50 64.70 33.10
----------------------------------------------------------------------------
SU- -60/358 1 Gold
445 6257965N sample
426337E 66.26 79.00 12.74 28.49 108.72 cut
----------------------------------------------------------------------------
66.26 79.00 12.74 240.66 108.72 Uncut
----------------------------------------------------------------------------
incl 66.26 66.83 0.57 5,242 2,120
----------------------------------------------------------------------------
incl 77.50 79.00 1.50 42.30 48.90
----------------------------------------------------------------------------
SU- 6257935N -60/358
446 426338E 162.50 165.50 3.00 7.96 18.55
----------------------------------------------------------------------------
SU- -50/178 1 Gold
447 6258020N sample
426450E 109.74 112.00 2.26 125.73 427.12 cut
----------------------------------------------------------------------------
109.74 112.00 2.26 880.78 427.12 Uncut
----------------------------------------------------------------------------
incl 109.74 110.28 0.54 3,660 1,750
----------------------------------------------------------------------------
SU- 6257850N -60/178
448 426663E 175.69 176.19 0.50 21.70 11.60
----------------------------------------------------------------------------
SU- 6257950N -60/358
451 426338E 99.79 100.29 0.50 536.00 112.00
----------------------------------------------------------------------------
SU- -55/358
452 6257869N
(3) 426624E 26.14 26.64 0.50 22.30 47.70
----------------------------------------------------------------------------
57.50 59.00 1.50 142.00 127.00
----------------------------------------------------------------------------
131.10 132.00 0.90 63.70 38.20
----------------------------------------------------------------------------
150.79 151.44 0.65 1,130 480.00
----------------------------------------------------------------------------
5
samples
cut to
500 ppm
Au/2
samples
cut to
2,500
198.79 209.50 10.71 161.69 390.54 ppm Ag
----------------------------------------------------------------------------
or 198.79 209.50 10.71 2,393 1,605 Uncut
----------------------------------------------------------------------------
incl 198.79 199.29 0.50 733 273.00
----------------------------------------------------------------------------
incl 200.97 201.47 0.50 412.42 313
----------------------------------------------------------------------------
incl 201.47 201.97 0.50 41,582 27,725
----------------------------------------------------------------------------
incl 201.97 202.47 0.50 2,251 1,770
----------------------------------------------------------------------------
incl 202.47 202.97 0.50 9.97 12.00
----------------------------------------------------------------------------
incl 202.97 203.47 0.50 4,902 3,290
----------------------------------------------------------------------------
incl 203.47 203.97 0.50 820.00 660.00
----------------------------------------------------------------------------
incl 203.97 204.97 1.00 121 45.30
----------------------------------------------------------------------------
incl 208.00 209.50 1.50 79.30 46.40
----------------------------------------------------------------------------
292.00 293.50 1.50 20.10 280.00
----------------------------------------------------------------------------
307.00 308.44 1.44 30.20 35.00
----------------------------------------------------------------------------
SU- -60/358 1 Gold
454 6257920N sample
426338E 175.06 186.00 10.94 26.31 30.70 cut
----------------------------------------------------------------------------
or 175.06 186.00 10.94 43.36 30.70 Uncut
----------------------------------------------------------------------------
incl 175.06 175.56 0.50 873.00 474.00
----------------------------------------------------------------------------
286.23 286.73 0.50 90.1 22.00
----------------------------------------------------------------------------
SU- 6258130N -45/178
455 426525E 227.37 227.87 0.50 232.00 48.00
----------------------------------------------------------------------------
SU- 6258083N -50/178
456 426475E 156.90 157.41 0.51 529 277.00
----------------------------------------------------------------------------
321.91 322.41 0.50 34.80 13.40
----------------------------------------------------------------------------
SU- 6257938N -45/178
457 426575E 142.47 142.97 0.50 100.50 46.20
----------------------------------------------------------------------------
SU- 6257899N -70/358
458 426800E 243.63 244.13 0.50 433.00 223.00
----------------------------------------------------------------------------
SU- 6257870N -60/358
459 426625E 240.45 248.5 8.05 8.33 18.88
----------------------------------------------------------------------------
incl 245.50 247.00 1.50 28.70 51.80
----------------------------------------------------------------------------
282.94 291.00 8.06 14.89 14.04
----------------------------------------------------------------------------
incl 282.94 283.54 0.60 134.50 72.60
----------------------------------------------------------------------------
incl 289.50 291.00 1.50 20.70 17.50
----------------------------------------------------------------------------
SU- 6258051N -55/358
460 426375E 111.66 126.00 14.34 17.84 29.25
----------------------------------------------------------------------------
incl 111.66 112.23 0.57 68.40 19.30
----------------------------------------------------------------------------
incl 120.79 121.29 0.50 276.00 338.00
----------------------------------------------------------------------------
incl 123.84 124.34 0.50 46.70 19.30
----------------------------------------------------------------------------
incl 124.34 126.00 1.66 25.20 54.80
----------------------------------------------------------------------------
GOSSAN HILL
----------------------------------------------------------------------------
SU- 6258818N -47/360
442 426600E 166.53 167.03 0.50 15.95 10.2
----------------------------------------------------------------------------
228.50 230.00 1.50 14.40 102.00
----------------------------------------------------------------------------
SU- 6258818N -62/360
450 426600E 251.00 259.00 8.00 24.06 102.82
----------------------------------------------------------------------------
incl 255.42 256.00 0.58 243.00 475.00
----------------------------------------------------------------------------
incl 256.64 257.15 0.51 31.10 340.00
----------------------------------------------------------------------------
(1)True thickness to be determined.
(2)Unless otherwise indicated as uncut, all gold assays over 500 g/t were
cut to 500 g/t.
(3)SU-452 intervals previously reported: 200.97 to 203.97.
(4)All samples were submitted for preparation and analysis by ALS Chemex at
its facilities in Terrace, B.C. All samples were analyzed using multi-
digestion with ICP finish. Samples over 100 ppm silver were reanalyzed
using four acid digestion with an ore grade AA finish. Samples over 1,000
ppm silver were fire assayed with a gravimetric finish. Samples with over
10 ppm gold were fire assayed with a gravimetric finish. One in 10 samples
was blank, one in 20 was a standard sample, and differing one in 20 samples
was a field duplicate one-quarter split core assayed at ALS Chemex in
Vancouver, B.C.
Assay results for completed drilling will be reported as they are received over the course of the 2012 drilling season.
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 advanced-staged exploration projects Brucejack and Snowfield, located in northern British Columbia. Pretivm is advancing the high-grade, underground gold opportunity at Brucejack, which hosts a significant undeveloped high-grade gold resource.
Forward-Looking Statements
This Press 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 unsatisfactory results of due diligence, the ability to satisfy the conditions of closing of Offering and general economic conditions, 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.
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
Corporate Relations Director
(604) 558-1784
invest@pretivm.com
www.pretivm.com
This report on current gold mines and deposits is amazingly comprehensive: http://www.nrh.co.il/i/pdf/NRH_Research_2012%20World_Gold_Deposits.pdf
If that were the case, wouldn't they announce an offer for RX Gold at the same time, or failing that, wait for the previous merger to go through and then buy the new RX Gold?
SVL.V STVZF SilverCrest may be a good alternative to switch into?
PVG production start?
In response to a private message (sorry ihub I'm not paying up!)...
As far as I can tell Pretivm is doing everything the old school way, carefully taking all of the tedious steps involved, and frankly all of the steps that are probably necessary for a project like this. (As much as I keep looking, it sadly seems GORO was one of a kind). A feasibility study is expected to be completed in Q1 2013, so we may have a better idea then, but there is A LOT involved here. A good deal of infrastructure will be needed, and I would not be surprised if it ends up being one big mill that would process ore from Brucejack, Snowfield, and Seabridge's nearby KSM project. That is a lot of planning, and a lot of CAPEX, and no one is very eager to spend right now, despite their depleting reserves. Rest assured, it is quality projects like this one that will go first.
Sure everyone wants to just dig up the easy high grade stuff, but the smart longer term view is to figure out how to do it all first, before just jumping in and getting started. That's how the majors like it, and they will wait until all the studies are nearly done before they get involved.
So patience is still needed with this one, but I am pretty certain it wil pay off.
South Africa's platinum pain deepens
Platinum crisis looming as more than half of South Africa's platinum mines are underwater or marginal at current platinum prices.
http://www.mineweb.com/mineweb/view/mineweb/en/page72068?oid=155714&sn=Detail&pid=102055
Author: Christy Filen
Posted: Wednesday , 25 Jul 2012
JOHANNESBURG (Mineweb) -
The latest financial reports from listed platinum miners have shown that over half of these are making losses or are trading at thin margins which would see any further drop in the platinum price or cost increases cause a crisis in what is a labour intensive sector of South Africa's economy.
Of the 26 mines, eleven were found to be operating at a loss with a further four marginal at best. (see list at bottom of the story
The exercise was a difficult one as platinum miners do not report in accordance with a set of standardised metrics so comparisons are difficult.
Some use kilograms, others ounces or equivalent ounces based on internal standards. Some measure PGM ounces and platinum, others only platinum, others only PGMs. Frustrating to say the least!
Nevertheless, from Anglo American's interim results presentation yesterday it was painfully obvious why a review was currently underway. Seven of the eleven mines operating at a loss belong to the world's largest platinum miner.
For Amplats the calculation used compared revenue per equivalent platinum ounce with the cash cost thereof.
Marikana (already on care and maintenance) was the worst performer with Union North, Modikwa, Thembelani, Kroondal, Khuseleka and Khomanani filling the ranks. Modikwa was hit by a month long strike during the period and Khuseleka is in ramp up. Union South proved to be marginal.
The abovementioned operations employ over 30 000 staff including contractors.
Aquarius Platinum's Everest mine which is also on care and maintenance was included in the eleven. Kroondal and Marikana, mentioned above, are shared operations between Aquarius and Amplats.
Impala Platinum's Marula mine was included in the loss making operations based on the comparison of the rand cost of platinum in concentrate exceeding R15 000 in its interim results for the end of December 2011 when compared to today's platinum price of approximately R11 800 using US$1381 and an exchange rate of R8.54.
Atlatsa's Bokoni mine was last reported as cash flow negative at an operational level in the company's March 2012 quarter end results due to underperformance and the ramp up phase that it is in. Management only expects the Bokoni Mine to become cash flow positive after capital expenditure towards the end of 2015 taking certain assumptions into account.
The last operation included in the eleven was Crocodile River mine belonging to Eastplats which reported an attributable loss in its March quarter end report. The miner has resorted to cash preserving actions and has suspending funding for the development of its Mareesburg open pit mine and the construction of the Kennedy`s Vale concentrator plant.
On the marginal end are Amplat's Union South, Impala Platinum's Rustenburg operations, Northam's Zondereinde and Royal Bafokeng's Rasimone mine.
The information used for Implat's Rustenburg operations was for the six months end December 2011 so does not include the impact of the six week strike earlier this year. The cost of refined platinum production quoted for this operation was R10 994 and with a modest 10% increase in costs would push this above the current platinum price.
Northam's operating cost per ounce of precious metals for the six months end December was $1231 - a 10% increase would push this number close to the current platinum price.
RB Plats reported an operating cash cost per platinum ounce of R11 648 for its quarter ended March 2012 which is a hair's breadth away from the current platinum price.
On the positive side, Zimbabwean operations are low on the cost curve but are having to deal with that country's indigenisation policies.
In confirmation, Marc Ground, commodities strategist from Standard Bank said Tuesday that their models showed that roughly 480 000 ounces of platinum were at risk (unprofitable on a cash-cost basis) at current prices. This he said was approximately 6 mines mostly run by Amplats and equated to 10% of South Africa's production.
This is a marked increase in the bank's 334 000 risk ounces and four Amplats mines indicated in its June report.
Bearing in mind that the abovementioned numbers are all historical and with Eskom looking at price increases of 14% and above and some mines currently negotiating wage increases the potential for labour disruptions is high. Throw competing unions into the mix and you have a potentially lethal concoction.
Aquarius Platinum's CEO, Stuart Murray said in its latest production update: "Unfortunately, as has been well flagged by many industry participants, the likelihood of industrial action over the South African winter is high, largely as a result of inter-union rivalries. Aquarius is by no means immune to this threat, and intermittent unlawful industrial action has occurred at one of Kroondal's four shafts in July".
There is also unlikely to be any respite in the form of platinum price increases says Peter Major, mining consultant for Cadiz Corporate Solutions. Long term price graphs for platinum that Major presented recently show that last year's spikes were upward deviations from the long term price trend and that the current price is purely a reversion to the mean.
The doldrums in developed economies is also not likely to drive demand any time soon.
A bearish UBS investment research note said Tuesday that the directional risks for platinum remain to the downside as both the trend conditions and momentum tools are pointing south.
UBS indicated its first support level at $1384.25, which was a June low. Any break through this level would expose $1344.25 said UBS.
Ground said that another 50 000 ounces at least would be at risk if the platinum price were to fall to $1300 an ounce. This he said would depend on what happened to the rand/dollar exchange rate with a weaker rand increasing the prices received by mines.
As a base case, Ground expects prices to remain under pressure for at least the next year and expects some support towards the end of 2013/beginning of 2014 from the US economy as it finds a firmer footing as well as improvements in the Chinese economy.
As a worst case scenario, Ground said that if the Eurozone deteriorates further, weakens the Euro and strengthens the dollar then "prices could tumble quite precipitously". Without putting a number to it a fall of 30% was mentioned. This could put prices at just over $1000 per ounce.
On the equities side, Ground said that there was a buying opportunity in platinum shares currently but that ‘you've got to have the stomach' for more potential short term downside.
"If you have a long term view on these things we would say that these stocks are looking pretty well priced at the moment" said Ground.
Amplats closed at R408 per share on tuesday, not far off the post 2008 financial crisis low of R346.71 per share but a long way from its heady heights of R1335 pre 2008 crisis. In the last year the share has lost 32% of its value.
Atlatsa, Eastern Platinum, Wesizwe and Aquarius Platinum are all trading below their post-2008 crisis levels currently.
The likes of Wesizwe, busy with the construction of its Bakubung Platinum Mine, has seen its share price lose 63% of its value this year. The share price traded at R11 before the 2008 crisis and is currently trading at 68 cents per share which is lower than the levels of just over R1 that it hit after the 2008 crash.
Aquarius Platinum, the hardest hit, has tumbled to just above R5 a share which is well below its post-2008 crash level of R15.70. The share has lost 85% of its value in the past year.
At Anglo Platinum's interim results presentation, stand-in CEO, Bongani Nqwababa, said to expect the pain for longer, no truer a word said.
*Already included under Amplats
PVG +5.26% $13.80
Highest-grading gold intersection so far!
Pretium drills 0.5 m of 41,582 g/t Au at Brucejack
http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aPVG-1979214&symbol=PVG®ion=C
Mr. Robert Quartermain reports
PRETIUM RESOURCES INC.: 41,582 GRAMS PER TONNE GOLD INTERSECTED IN THE VALLEY OF THE KINGS
Pretium Resources Inc. has released the highest-grading gold intersection encountered to date at the Brucejack project, drilled in the Valley of the Kings.
The bonanza-grade intercepts from a downhole depth of 200.97 meters in hole SU-452 include:
0.5 meters with uncut grades of 41,582 grams of gold per tonne (1.6 feet averaging 1,212.8 ounces gold per ton);
0.5 meters with uncut grades of 4,902 grams of gold per tonne (1.6 feet averaging 143.0 ounces gold per ton);
0.5 meters with uncut grades of 2,251 grams of gold per tonne (1.6 feet averaging 65.7 ounces gold per ton).
Assays for a three meter section of hole SU-452 have been received, which, including the three intercepts above, average 8,330 grams of gold and 5,628 grams of silver per tonne uncut over the three meters (9.8 feet averaging 243.0 ounces of gold and 164.2 ounces of silver per ton). Assays for the remaining 352 meters of hole SU-452 will be reported as they are received.
Hole SU-452 was collared on section 426625E, which also includes the high-grade intercepts from: hole SU-230, grading 7,240 grams per tonne gold over 1.0 meter, 510 grams per tonne gold over 1.23 meters and 472 grams per tonne gold over 1.5 meters; hole SU-237, grading 679 grams per tonne gold over 1.0 meter and 451 grams per tonne gold over 1.0 meter; and hole SU-325, grading 1,590 grams per tonne gold over 0.59 meters. Hole SU-452 was collared 169 meters east of the hole SU-115, which intersected 18,755 grams per tonne gold uncut over 0.6 meters, the reigning highest grade intersection prior to hole SU-452. A cross section through the Valley of the Kings at section 426625E will be posted on our web site, www.pretivm.com.
Seven drills are now turning at Brucejack, with a focus on definition drilling in the Valley of the Kings as well as testing extensions of the Valley of the Kings and other high-grade zones.
We have received the permit required to commence the underground exploration program at Brucejack. The underground contractor is mobilizing equipment to site with crews to follow later this month. The first phase will be to slash out the existing West Zone underground workings to five-by-five meters down to the 1330 meter level, a distance of approximately 500 meters. The next phase will be to advance the decline from the 1330 meter level of the West Zone to the 1314 meter level in the Valley of the Kings, a distance of approximately 450 meters. We expect to take an underground bulk sample in the Valley of the Kings in the first half of 2013.
Table 1: Selected Intercepts from Drill Hole SU-452, July 2012(1,3,4)
Interval
Hole Collar Dip/ From To (met- Gold Silver Capping
No. Coords. Azimuth (meters) (meters) -ers) (g/t) (g/t) (2)
SU-452 6257869N -55/358 200.97 203.97 3.00 403.7 1,292.5 4 samples
426624E cut to
500 ppm
Au/
2 samples
cut to
2,500 ppm
Ag
or 200.97 203.97 3.00 8,330 5,628.4
incl 200.97 201.47 0.5 412.4 313.0
incl 201.47 201.97 0.5 41,582 27,725
incl 201.97 202.47 0.5 2,251 1,770
incl 202.47 202.97 0.5 9.97 12.0
incl 202.97 203.47 0.5 4,902 3,290
incl 203.47 203.97 0.5 820.0 660
(1) True thickness to be determined.
(2) Unless otherwise indicated as uncut, all gold assays over 500 g/t were
cut to 500 g/t.
(3) Assays pending for the remaining 352 meters of SU-452.
(4) All samples were submitted for preparation and analysis by ALS Chemex
at its facilities in Terrace, B.C. All samples were analyzed using
multi-digestion with ICP finish. Samples over 100 ppm silver were
reanalyzed using four acid digestion with an ore grade AA finish.
Samples over 1,000 ppm silver were fire assayed with a gravimetric
finish. Samples with over 10 ppm gold were fire assayed with a
gravimetric finish. One in 10 samples was blank, one in 20 was a
standard sample, and differing one in 20 samples was a field duplicate
one-quarter split core assayed at ALS Chemex in Vancouver, B.C.
Assay results for completed drilling will be reported as they are received over the course of the 2012 drilling season.
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.
We seek Safe Harbor.