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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.
GORO currently yeilding over 4% per year... that may be the best in the sector?
Is NUGT taxed like a normal stock short term/long term gains-wise?
PVG +2.34% $13.55
New amazing drills out, only 12 meters from surface. They better watch out or I may run out there with my pick axe!
http://finance.yahoo.com/news/pretium-resources-inc-more-high-090000705.html
-- Hole SU-407 intersected 11,067 grams of gold per tonne uncut over 0.5 meters (323 ounces gold per ton over 1.6 feet); and
-- Hole SU-393 intersected 3,440 grams of gold per tonne uncut over 0.5 meters (100 ounces gold per ton over 1.6 feet); and
-- Hole SU-421 intersected 1,335 grams of gold per tonne uncut over 0.5 meters (39 ounces gold per ton over 1.6 feet).
The bonanza-grade intercept from hole SU-407 noted above was intersected approximately 12 meters from surface, and approximately 53 meters southwest from the bonanza-grade intersection in hole SU-115 grading 18,755 grams per tonne gold uncut over 0.6 meters. The intercept from Hole SU-393, drilled in the heart of the Valley of the Kings, was intersected 25 meters west of the intersection in hole SU-376 grading 6,142 grams per tonne gold uncut over 0.65 meters. The intercept from hole SU-421 was intersected 19 meters east of the intersection in hole SU-230 grading 7,420 grams per tonne gold uncut over 1.0 meter.
Platinum is cheaper than gold right now, and that's happened only 3 times in the past 25 years. Platinum is 15 times rarer than gold. The cost to mine platinum is near, or even higher than its current price. The majority of the world's platinum comes from South Africa, which is a disaster and producing smaller amounts of everything every year. Falling production and rising jewelry demand from Asia likely means higher prices.
Looking for the leverage of a junior miner, rather than the ETF.
Anyone know of a platinum miner outside of South Africa, other than SWC?
Pretium Resources Inc.: More High-Grade Gold From Valley of the Kings Drilling
http://finance.yahoo.com/news/pretium-resources-inc-more-high-090000705.html
VANCOUVER, BRITISH COLUMBIA--(Marketwire -07/18/12)- Pretium Resources Inc. (PVG.TO)(PVG) ("Pretivm") is pleased to report more exceptionally high-grade results as phase two high-definition drilling continues in Brucejack's Valley of the Kings. (See Table 1 below for assays.)
Selected highlights from the Valley of the Kings include:
-- Hole SU-407 intersected 11,067 grams of gold per tonne uncut over 0.5
meters (323 ounces gold per ton over 1.6 feet); and
-- Hole SU-393 intersected 3,440 grams of gold per tonne uncut over 0.5
meters (100 ounces gold per ton over 1.6 feet); and
-- Hole SU-421 intersected 1,335 grams of gold per tonne uncut over 0.5
meters (39 ounces gold per ton over 1.6 feet).
The bonanza-grade intercept from hole SU-407 noted above was intersected approximately 12 meters from surface, and approximately 53 meters southwest from the bonanza-grade intersection in hole SU-115 grading 18,755 grams per tonne gold uncut over 0.6 meters. The intercept from Hole SU-393, drilled in the heart of the Valley of the Kings, was intersected 25 meters west of the intersection in hole SU-376 grading 6,142 grams per tonne gold uncut over 0.65 meters. The intercept from hole SU-421 was intersected 19 meters east of the intersection in hole SU-230 grading 7,420 grams per tonne gold uncut over 1.0 meter.
Drilling in the West Zone continues to expand mineralization down dip, with hole SU-403 intersecting 22.3 grams per tonne gold and 946.6 grams per tonne silver over 5.87 meters.
The updated Brucejack high-grade Mineral Resource estimate to be used as the basis for feasibility study mine planning will incorporate phase two drilling data in addition to the results of phase one in-fill drilling conducted earlier this Spring. The updated high-grade Mineral Resource estimate is expected in the third quarter.
Table 1: Selected Brucejack Project Drill Results, July 2012 (SU-379 to SU-430)(1,3)
----------------------------------------------------------------------------
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- 6258055N -50/0 218.31 220.0 1.69 17.00 40.20
379 426470E
----------------------------------------------------------------------------
SU- 6257935N -50/358 49.6 50.2 0.6 142.50 28.70
386 426350E
----------------------------------------------------------------------------
200.5 202.0 1.5 61.70 25.30
----------------------------------------------------------------------------
SU- 6257765N -55/355 308.5 310.0 1.5 62.20 35.60
387 426775E
----------------------------------------------------------------------------
SU- 6257981N -45/178 20.0 26.0 6.0 15.80 31.12
390 426437E
----------------------------------------------------------------------------
incl 23.9 24.4 0.5 167.00 62.10
----------------------------------------------------------------------------
SU- 6258090N -55/180 346.0 348.5 2.5 31.26 28.42
392 426730E
----------------------------------------------------------------------------
incl 346.0 347.0 1.0 64.60 46.00
----------------------------------------------------------------------------
SU- 6257895N -50/358 76.02 76.52 0.5 3,440 788.0
393 426362E
----------------------------------------------------------------------------
200.0 201.5 1.5 8.14 17.90
----------------------------------------------------------------------------
SU- 6258010N -45/178 79.02 79.71 0.69 174.50 74.40
394 426487E
----------------------------------------------------------------------------
SU- 6258143N -47/176 67.67 72.0 4.33 8.29 99.98
396 426700E
----------------------------------------------------------------------------
227.0 231.0 4.0 6.92 16.54
----------------------------------------------------------------------------
SU- 6257870N -60/358 216.67 217.17 0.5 30.80 22.70
398 426650E
----------------------------------------------------------------------------
222.86 223.34 0.48 13.85 5.70
----------------------------------------------------------------------------
SU- 6257870N -65/358 222.47 227.31 4.84 66.74 40.29
405 426650E
----------------------------------------------------------------------------
SU- 6257850N -55/358 19.5 21.0 1.5 36.20 32.50
406 426600E
----------------------------------------------------------------------------
207.0 208.5 1.5 16.10 10.70
----------------------------------------------------------------------------
347.50 352.00 4.50 17.40 18.43
----------------------------------------------------------------------------
inc 350.5 352.0 1.5 36.50 40.90
----------------------------------------------------------------------------
SU- 6258010N -50/178 5.50 14.00 8.50 32.77 235.67 1 Gold
407 426475E sample
cut
----------------------------------------------------------------------------
or 5.50 14.00 8.50 654.33 235.67 Uncut
----------------------------------------------------------------------------
incl 12.04 12.54 0.5 11,067 3,230 Uncut
----------------------------------------------------------------------------
SU- 6257955N -50/358 24.1 24.6 0.5 720.00 293.00
408 426300E
----------------------------------------------------------------------------
63.25 63.75 0.5 49.80 21.20
----------------------------------------------------------------------------
76.50 77.53 1.03 16.15 39.10
----------------------------------------------------------------------------
SU- 6257870N -70/358 200.57 201.07 0.50 19.75 16.00
411 426650E
----------------------------------------------------------------------------
250.5 252.0 1.5 20.30 22.10
----------------------------------------------------------------------------
SU- 6257850N -60/357 238.00 245.97 7.97 6.22 4.91
418 426600E
----------------------------------------------------------------------------
268.50 270.00 1.50 15.00 9.80
----------------------------------------------------------------------------
313.00 314.50 1.50 21.10 17.40
----------------------------------------------------------------------------
SU- 6257940N -50/358 78.0 79.5 1.5 67.80 26.00
419 426300E
----------------------------------------------------------------------------
SU- 6258030N -50/178 70.5 72.0 1.5 17.85 90.30
420 426500E
----------------------------------------------------------------------------
SU- 6257850N -65/178 82.58 83.08 0.50 1,335 4,000 Uncut
421 426662E
----------------------------------------------------------------------------
268.90 277.60 8.70 105.43 26.47 1 Gold
sample
cut
----------------------------------------------------------------------------
or 268.90 277.60 8.70 152.50 26.47 Uncut
----------------------------------------------------------------------------
incl 268.9 269.4 0.5 37.70 9.40
----------------------------------------------------------------------------
incl 272.14 272.64 0.50 136.00 56.10
----------------------------------------------------------------------------
incl 274.32 275.82 1.5 773.00 100.00
----------------------------------------------------------------------------
incl 277.10 277.60 0.50 91.90 41.90
----------------------------------------------------------------------------
321.1 321.6 0.5 16.25 46.70
----------------------------------------------------------------------------
SU- 6258060N -50/178 83.00 84.50 1.50 6.41 55.20
422 426412E
----------------------------------------------------------------------------
SU- 6257990N -45/358 75.00 77.00 2.00 9.54 4.70
423 426325E
----------------------------------------------------------------------------
121.0 122.69 1.69 38.10 46.30
----------------------------------------------------------------------------
SU- 6257950N -65/358 78.0 79.5 1.5 6.10 7.10
426 426325E
----------------------------------------------------------------------------
SU- 9257935N -65/358 169.0 170.5 1.5 15.20 26.10
428 426325E
----------------------------------------------------------------------------
SU- 6258065N -50/178 134.00 141.50 7.50 80.65 53.52
430 426500E
----------------------------------------------------------------------------
incl 134.0 135.5 1.5 86.90 36.90
----------------------------------------------------------------------------
incl 135.5 137 1.5 58.40 89.70
----------------------------------------------------------------------------
incl 137.0 138.5 1.5 236.00 125.00
----------------------------------------------------------------------------
West Zone
----------------------------------------------------------------------------
SU- 6258940N -73/180 345.0 348.0 3.0 6.92 241.50
395 426600E
----------------------------------------------------------------------------
382.94 383.45 0.51 160.50 50.00
----------------------------------------------------------------------------
395.5 398.5 3.0 11.79 9.15
----------------------------------------------------------------------------
SU- 6258940N -67/180 263.5 269.0 5.5 0.77 422.03
403 426600E
----------------------------------------------------------------------------
301.13 307.0 5.87 22.28 946.61
----------------------------------------------------------------------------
incl 302.5 304.0 1.5 47.50 312.00
----------------------------------------------------------------------------
364.8 365.3 0.5 52.30 24.80
----------------------------------------------------------------------------
426.59 427.09 0.5 26.40 8.4
----------------------------------------------------------------------------
SU- 6258940N -80/180 131.86 139.5 7.64 4.79 21.33
415 426600E
----------------------------------------------------------------------------
201.96 202.49 0.53 253.00 103.00
----------------------------------------------------------------------------
378.00 384.00 6.00 4.32 343.67
----------------------------------------------------------------------------
Gossan Hill
----------------------------------------------------------------------------
SU- 6258940N -42/360 142.5 144.0 1.5 16.50 12.30
380 426600E
----------------------------------------------------------------------------
SU- 6258940N -55/360 186.41 187.17 0.76 15.95 7.50
388 426600E
----------------------------------------------------------------------------
SU- 6258940N -65/360 108.69 120.00 11.31 7.35 22.97
427 426600E
----------------------------------------------------------------------------
incl 108.69 109.19 0.50 85.50 33.30
----------------------------------------------------------------------------
(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)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.
To date, a total of 55,100 meters of drilling in 180 holes including geotechnical and condemnation holes has been completed for both phase one and phase two of the 2012 Brucejack Exploration Program.
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
AUQ -15% $6.40
Still almost $2B market cap though. However they are due to produce over 1/2 million ounces in 2014 in mining friendly areas. Pretty good cash costs too. Not sure how those metrics stack up against others similar. Worth some further research for sure.
Is the drop due to maintained guidance or loss of CEO or something else?
I'm actively out bargain hunting and GPD.TO Golden Predator is one of the names on my potential list.
I'm also looking at Exeter XRA - high Capex but 30 MILLION OUNCES in their mine. Their share price is down to almost $5 an ounce when you take out their $60 million in cash they can use to get through these doldrums.
Searching for a third... may just go with NUGT, the 3X miners ETF.
Evolving Gold has left the station, but could have much further to go.
...
Top 3 or so bargain suggestions from board members? I guess these are more speculative plays I'm looking for.
My core holding and base remains PVG Pretivm
PVG +7.45% $15.14 on more great drill results
EVG.TO halted, though EVOGF has traded up 15.7% on almost 50k shares
Pretium Resources Inc.: Continued High-Grade Results From Valley of the Kings Drilling
http://finance.yahoo.com/news/pretium-resources-inc-continued-high-090000521.html
VANCOUVER, BRITISH COLUMBIA--(Marketwire -06/06/12)- Pretium Resources Inc. (PVG.TO)(PVG) ("Pretivm") is pleased to report results from drilling at its high-grade gold Brucejack Project in northern British Columbia which continue to confirm the projection and continuity of high-grade mineralization in the Valley of the Kings, and include a significant number of assays grading over 1,000 grams per tonne gold. (See Table 1 below for assays).
Selected highlights from the Valley of the Kings include:
-- Hole SU-345 intersected:
-- 2,470 grams of gold per tonne uncut over 0.7 meters (72 ounces gold
per ton over 2.3 feet); and
-- 1,470 grams of gold per tonne uncut over 0.5 meters (43 ounces gold
per ton over 1.6 feet);
-- Hole SU-338 intersected 2,350 grams of gold per tonne uncut over 0.64
meters (68 ounces gold per ton over 2.0 feet);
-- Hole SU-341 intersected 1,840 grams of gold per tonne uncut over 0.5
meters (54 ounces gold per ton over 1.6 feet);
-- Hole SU-334 intersected 1,160 grams of gold per tonne uncut over 0.5
meters (34 ounces gold per ton over 1.6 feet).
All holes reported were drilled in the western half of the Valley of the Kings, and include 32 intervals grading over 30 grams per tonne gold. A number of reported intervals are outside of currently defined mineral resources.
A total of 26,230 meters of drilling in 60 holes has been completed in this first phase of the 2012 Brucejack Exploration Program, which has now concluded. An updated high-grade Mineral Resource estimate for Brucejack is expected in the third quarter and will be used as the basis for the mine plan for the feasibility study currently underway.
Phase two of the 2012 Brucejack Exploration Program is now underway and focused on high-grade 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 zones.
Table 1: Selected Brucejack Project Drill Results, June 2012 (SU-326 to SU-
348)(1,3)
----------------------------------------------------------------------------
Inter-
val
Hole Collar Dip/ From To (met- Gold Silver Capping
No. Coords. Azimuth (meters) (meters) ers) (g/t) (g/t) (2)
----------------------------------------------------------------------------
VALLEY OF THE KINGS
----------------------------------------------------------------------------
SU-326 6257975N -45/360
426451E 187.0 194.5 7.5 2.62 113.32
----------------------------------------------------------------------------
SU-327 6257900N -55/360
426550E 20.74 25.79 5.05 39.71 56.45
----------------------------------------------------------------------------
incl 20.74 21.24 0.5 388.00 255.00
----------------------------------------------------------------------------
334.6 336.5 1.9 129.13 46.77
----------------------------------------------------------------------------
377.33 377.92 0.59 149.00 52.60
----------------------------------------------------------------------------
SU-328 6258068N -45/180
426327E 62.5 65.73 3.23 45.95 32.81
----------------------------------------------------------------------------
incl 65.18 65.73 0.55 229.00 160.00
----------------------------------------------------------------------------
88.69 89.19 0.5 434.00 338.00
----------------------------------------------------------------------------
307.5 321.0 13.5 4.47 4.86
----------------------------------------------------------------------------
incl 319.5 321.0 1.5 19.75 6.60
----------------------------------------------------------------------------
SU-329 6257878N -68/360
426646E 173.2 174.0 0.8 42.90 44.90
----------------------------------------------------------------------------
SU-330 6258089N -59/180
426613E 16.5 18.0 1.5 14.30 142.00
----------------------------------------------------------------------------
SU-331 6258162N -45/180
426377E 7.0 8.5 1.5 17.20 28.60
----------------------------------------------------------------------------
26.81 28.0 1.19 18.10 50.10
----------------------------------------------------------------------------
142.5 144.0 1.5 16.85 35.30
----------------------------------------------------------------------------
464.5 466.0 1.5 25.20 33.90
----------------------------------------------------------------------------
SU-332 6258001N -45/180
426426E 126.78 131.0 4.22 3.47 25.33
----------------------------------------------------------------------------
SU-333 6257755N -50/360
426329E 98.35 98.93 0.58 30.40 19.20
----------------------------------------------------------------------------
207.5 208.18 0.68 17.50 38.50
----------------------------------------------------------------------------
316.6 317.1 0.5 134.50 72.30
----------------------------------------------------------------------------
453.5 464.0 10.5 24.80 21.17
----------------------------------------------------------------------------
incl 453.5 455.0 1.5 157.00 124.00
----------------------------------------------------------------------------
SU-334 6257900N -64/360
426550E 262.61 263.11 0.5 202.00 218.00
----------------------------------------------------------------------------
305.78 306.28 0.5 41.10 38.60
----------------------------------------------------------------------------
381.68 382.18 0.5 1,160 453.00 Uncut
----------------------------------------------------------------------------
508.0 524.3 16.3 2.71 19.77
----------------------------------------------------------------------------
543.41 543.91 0.5 432.00 289.00
----------------------------------------------------------------------------
SU-335 6258102N -50/180
426297E 171.65 172.5 0.85 104.50 75.60
----------------------------------------------------------------------------
221.98 226.5 4.52 45.43 33.83
----------------------------------------------------------------------------
incl 225.5 226.5 1.0 130.50 71.20
----------------------------------------------------------------------------
SU-337 6258085N -45/180
426350E 332.45 333.39 0.94 45.40 41.10
----------------------------------------------------------------------------
SU-338 6258214N -50/180
426451E 141.0 147.0 6.0 5.82 51.35
----------------------------------------------------------------------------
336.38 337.02 0.64 2,350 876.00 Uncut
----------------------------------------------------------------------------
SU-339 6257935N -73/30
426480E 254 255.5 1.5 22.20 22.10
----------------------------------------------------------------------------
278.39 278.89 0.5 19.35 6.10
----------------------------------------------------------------------------
SU-340 6258102N -60/180
426297E 232.36 232.86 0.5 81.10 50.10
----------------------------------------------------------------------------
258.16 259.19 1.03 150.27 68.97
----------------------------------------------------------------------------
293.82 294.82 1.0 233.50 105.50
----------------------------------------------------------------------------
311.5 316.0 4.5 4.58 9.17
----------------------------------------------------------------------------
SU-341 6258121N -50/180 1 Gold
426453E sample
173.52 176.15 2.63 183.33 174.78 cut
----------------------------------------------------------------------------
173.52 176.15 2.63 438.08 174.78 Uncut
----------------------------------------------------------------------------
incl 173.52 174.02 0.5 462.00 175.00
----------------------------------------------------------------------------
incl 175.65 176.15 0.5 1,840 730.00 Uncut
----------------------------------------------------------------------------
SU-342 6257755N -61/360
426329E 78.93 79.43 0.5 15.20 11.80
----------------------------------------------------------------------------
158.3 158.8 0.5 98.50 34.30
----------------------------------------------------------------------------
323.5 325.0 1.5 24.20 16.50
----------------------------------------------------------------------------
340.0 341.5 1.5 86.00 44.40
----------------------------------------------------------------------------
SU-343 6258293N -50/180
426456E 171.0 177.0 6.0 2.48 55.90
----------------------------------------------------------------------------
SU-344 6258099N -45/360
426298E 76.37 76.87 0.5 16.45 26.30
----------------------------------------------------------------------------
92.24 92.74 0.5 51.20 20.00
----------------------------------------------------------------------------
SU-345 6258085N -53/180
426350E 125 134.94 9.94 5.86 42.77
----------------------------------------------------------------------------
1 Gold
sample
162.19 173 10.81 39.63 19.44 cut
----------------------------------------------------------------------------
162.19 173 10.81 167.20 19.44 Uncut
----------------------------------------------------------------------------
incl 162.19 162.89 0.7 2,470 84.10 Uncut
----------------------------------------------------------------------------
1 Gold
sample
232.5 245.5 13.0 26.50 42.43 cut
----------------------------------------------------------------------------
232.5 245.5 13.0 63.81 42.43 Uncut
----------------------------------------------------------------------------
incl 232.5 233.55 1.05 59.80 142.00
----------------------------------------------------------------------------
incl 233.55 234.05 0.5 1,470 621.00 Uncut
----------------------------------------------------------------------------
393.5 397.5 4.0 9.36 6.83
----------------------------------------------------------------------------
incl 395.49 395.99 0.5 46.80 26.10
----------------------------------------------------------------------------
SU-346 6257880N -55/360
426351E 257.43 259 1.57 22.00 42.90
----------------------------------------------------------------------------
399.18 399.83 0.65 75.40 98.10
----------------------------------------------------------------------------
SU-348 6258277N -45/180
426524E 331.9 332.4 0.5 64.60 49.40
----------------------------------------------------------------------------
(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) 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.
(SEDAR filings: Pretium Resources Inc.)
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
Seabridge (SA) and their nearby KSM project, up on huge volume today...
Pretty darn good article below arguing for a major bottom in the miners here. For the first time ever, I bought an ETF, NUGT earlier this week after viewing current market conditions as just too darn ridiculous. Its a highly volatile 3xminers ETF that ignores the fundamental news of individual companies (which hasn't seemed to matter lately). Once the market starts listening again, I'll probably switch out to those individual names that deserve it.
Gold-Stock Capitulation
http://news.goldseek.com/Zealllc/1337356833.php
By: Adam Hamilton
Gold stocks have been pummeled mercilessly this month, their price action looking almost apocalyptic. The psychological stress spawned by such extreme weakness is intense, breaking the wills of this sector’s few remaining bulls. This week their selling cascaded into a full-blown capitulation, a mass surrender by weary investors. While exceedingly miserable, these events flag major long-term bottoms.
AUMN down
On HUGE volume too. Meanwhile the average miner is UP 5% today. Something stinks here...
Finally we have a great day for the miners, yet many of the stinkers of late are still sinking.
Time to sell the stink and buy the performers?
Pretium Resources Inc.: Valley of the Kings Drilling Continues to Confirm Continuity
http://finance.yahoo.com/news/pretium-resources-inc-valley-kings-090000147.html
Pretium Resources Inc. (PVG.TO)(PVG) ("Pretivm") is pleased to report that drill results from its high-grade gold Brucejack Project in northern British Columbia continue to confirm the projection and continuity of high-grade mineralization in the Valley of the Kings. (See Table 1 below for assays).
Selected highlights from the Valley of the Kings include:
-- Hole SU-316 intersected 1,855 grams of gold per tonne uncut over 0.54
meters (54 ounces gold per ton over 1.8 feet);
-- Hole SU-325 intersected 1,590 grams of gold per tonne uncut over 0.59
meters (46 ounces gold per ton over 1.9 feet).
The high-grade intercept (previously unreported) from hole SU-316 was intersected 566 meters down-hole in an area of projected Inferred mineral resources, and approximately 264 meters down-hole from the previously reported SU-316 intercept of 9,110 grams of gold per tonne uncut over 0.5 meters (see news release dated April 30, 2012). All assays for hole SU-316 have now been reported.
The high-grade intercept from hole SU-325, which occurred in a longer interval grading 169.1 grams of gold per tonne uncut over 9.13 meters, was collared in the eastern area of the Valley of the Kings in the vicinity of holes SU-230 and SU-237 from the 2011 drill program. Step-out holes SU-312 and SU-321 were drilled on the eastern margin of the Valley of the Kings, and confirm the high-grade mineralization is open down plunge to the east.
Hole SU-322 intersected 64.3 grams of gold per tonne over 5.7 meters, 30 meters up dip from the bonanza-grade intercept in hole SU-115 grading 18,755 grams of gold per tonne over 0.6 meters, confirming the projection of high-grade gold along trend.
Hole SU-314, which was drilled as a test of the extension of the R8 Zone in the West Zone, encountered 27.2 grams of gold per tonne over 20.57 meters, demonstrating the potential to add to West Zone mineralization at depth.
Table 1: Selected Brucejack Project Drill Results, May 2012 (SU-311 to SU-325)(1,4)
----------------------------------------------------------------------------
Hole Collar Dip/ From To Interval Gold Silver Capp-
No. Coords. Azimuth (meters) (meters) (meters) (g/t) (g/t) ing(2)
----------------------------------------------------------------------------
VALLEY OF THE KINGS
----------------------------------------------------------------------------
SU-311 6257885N -45/360
426575E 389.5 392.5 3.0 10.68 244.0
----------------------------------------------------------------------------
403.0 406.0 3.0 11.83 13.40
----------------------------------------------------------------------------
SU-312 6257849N -65/360
426683E 320.5 342.5 22.0 15.46 39.65
----------------------------------------------------------------------------
incl 339.5 342.5 3.0 96.72 50.75
----------------------------------------------------------------------------
SU-313 6258045N -55/180
426680E 217.12 217.63 0.51 189.5 62.60
----------------------------------------------------------------------------
307.5 309 1.5 11.60 733.0
----------------------------------------------------------------------------
SU-315 6257885N -65/360
426575E 260.5 262.0 1.5 727.0 411.0
----------------------------------------------------------------------------
316.0 329.5 13.5 39.29 35.52
----------------------------------------------------------------------------
incl 325.0 326.5 1.5 311.0 247.0
----------------------------------------------------------------------------
SU-316 6257930N -75/30 2 Gold
samples
(3) 426473E 302.62 326.75 24.13 29.71 119.66 cut
----------------------------------------------------------------------------
or 302.62 326.75 24.13 225.85 119.66 Uncut
----------------------------------------------------------------------------
incl 302.62 303.12 0.5 9,110 4,030 Uncut
----------------------------------------------------------------------------
incl 325.95 326.75 0.8 1,035 781 Uncut
----------------------------------------------------------------------------
430.28 446.62 16.34 11.35 11.00
----------------------------------------------------------------------------
incl 430.28 430.86 0.58 141.0 85.00
----------------------------------------------------------------------------
522.34 522.94 0.6 53.00 17.30
----------------------------------------------------------------------------
566.21 566.75 0.54 1,855 586.0 Uncut
----------------------------------------------------------------------------
SU-317 6258105N -50/180
426475E 211.5 221 9.5 35.55 22.34
----------------------------------------------------------------------------
incl 218.0 221.0 3.0 93.20 45.10
----------------------------------------------------------------------------
SU-318 6257857N -70/270
(3) 426500E 29.5 36.75 7.25 3.06 45.14
----------------------------------------------------------------------------
1 Gold
sample
61.41 71.0 9.59 42.38 68.58 cut
----------------------------------------------------------------------------
61.41 71.0 9.59 114.64 68.58 Uncut
----------------------------------------------------------------------------
incl 61.41 62.11 0.7 1,490 856 Uncut
----------------------------------------------------------------------------
261.0 262.5 1.5 47.8 67.0
----------------------------------------------------------------------------
297.5 299.0 1.5 21.7 9.8
----------------------------------------------------------------------------
SU-319 6258090N -45/180
426612E 174.08 177.4 3.32 25.52 28.61
----------------------------------------------------------------------------
incl 176.75 177.4 0.65 120.00 60.4
----------------------------------------------------------------------------
SU-320 6257900N -45/0
(3) 426550E 9.56 20.82 11.26 14.88 32.87
----------------------------------------------------------------------------
incl 9.56 10.06 0.5 305.0 239.0
----------------------------------------------------------------------------
134 135.5 1.5 29.60 8.8
----------------------------------------------------------------------------
422.5 424.0 1.5 97.7 42.2
----------------------------------------------------------------------------
SU-321 6258100N -45/180
426705E 161.5 169.0 7.5 12.28 10.94
----------------------------------------------------------------------------
incl 161.5 163.0 1.5 52.1 25.0
----------------------------------------------------------------------------
399.47 405.5 6.03 7.52 22.81
----------------------------------------------------------------------------
SU-322 6257975N -45/180
426450E 25.88 31.55 5.67 64.31 67.60
----------------------------------------------------------------------------
incl 25.88 27.58 1.7 37.56 31.22
----------------------------------------------------------------------------
incl 30.97 31.55 0.58 514.0 528.0
----------------------------------------------------------------------------
SU-324 6258165N -50/180
426475E 264.0 268.5 4.5 10.33 9.97
----------------------------------------------------------------------------
SU-325 6258090N -55/180
426612 15.36 16.53 1.17 31.40 757.0
----------------------------------------------------------------------------
2 Gold
samples
215.5 224.63 9.13 96.56 93.11 cut
----------------------------------------------------------------------------
215.5 224.63 9.13 169.1 93.11 Uncut
----------------------------------------------------------------------------
incl 217.94 218.2 0.26 574.0 232.0 Uncut
----------------------------------------------------------------------------
incl 224.04 224.63 0.59 1,590 744.0 Uncut
----------------------------------------------------------------------------
286.0 290.5 4.5 14.84 11.30
----------------------------------------------------------------------------
395.15 395.65 0.5 124.5 62.00
----------------------------------------------------------------------------
WEST ZONE
----------------------------------------------------------------------------
SU-314 6258863N -75/135
426677E 289.5 310.07 20.57 27.18 398.71
----------------------------------------------------------------------------
incl 299.0 302.0 3.0 85.45 854.50
----------------------------------------------------------------------------
incl 306.5 309.0 2.5 104.12 1,049.20
----------------------------------------------------------------------------
(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: Hole SU-316 intervals 302.62 to 326.75; Hole SU-
318 intervals 29.5 to 62.11 and Hole SU-320 intervals 9.56 to 135.5.
(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
Gold miners need $3,000 price in five years - gold council
http://www.reuters.com/article/2012/05/15/peru-mining-wgc-idUSL1E8GF0AR20120515
* Mining costs increasing steeply
* Emerging markets, central banks to drive demand
May 14 (Reuters) - Sharp increases in mining costs mean gold will need to reach $3,000 an ounce in five years for the industry to stay profitable, World Gold Council chief executive Aram Shishmanian said on Monday.
Miners currently needed a gold price of $1,300 to survive, Shishmanian said, but faced steep rises in mining costs, along with the cost of dividends and host nation taxes.
"If this continues for the next five years the gold price needs to be at least $3,000 just to stay in the business," he said. However, he was optimistic sustained demand would drive prices higher over the long term.
Spot gold fell to a four-and-a-half month low of $1,556.5 an ounce on Monday on concerns over the European debt crisis. Normally a refuge for investors in times of economic turmoil, gold has recently traded in line with risk assets like base metals and stocks.
Future demand would come from emerging markets, central banks and investors, Shishmanian said, noting that China and India now represent 55 percent of the world gold market.
"Emerging markets are going to hold increasing amounts of gold reserves," Shishmanian said. "Holding billions of dollars doesn't help them. The alternative potentially is gold."
Exchange traded funds backed by gold currently hold $120 billion, he said.
"This is the tip of the iceberg," he said. "U.S. pension funds do not hold substantial amounts of gold but we see that changing over the next 20 years."
Pretivm Reports First Quarter 2012 Results
http://finance.yahoo.com/news/pretivm-reports-first-quarter-2012-000800020.html
VANCOUVER, BRITISH COLUMBIA--(Marketwire -05/10/12)- Pretium Resources Inc. (PVG.TO)(PVG) ("Pretivm") is pleased to report the following highlights from the first quarter of 2012 and updates for its Brucejack Project in northern British Columbia.
First Quarter 2012 Highlights and Significant Events
-- Began trading on the NYSE on January 12, 2012 under the symbol "PVG",
and commemorated the listing by ringing the opening bell that day;
-- Completed a private placement of flow-through common shares for
aggregate gross proceeds of $23,125,000;
-- Announced positive results from a National Instrument 43-101 compliant
Preliminary Economic Assessment ("PEA") for the high-grade gold and
silver resources identified to date at Brucejack;
-- Advanced a feasibility study on the high-grade opportunity at Brucejack,
and an underground resource model for the high-grade gold and silver
resources in the Valley of the Kings and West Zone;
-- Filed a final short form base shelf prospectus that will enable us to
make offerings of up to an aggregate principal amount of $180 million of
securities;
-- Ended the quarter with working capital of $22,573,811;
-- Announced on April 2, 2012 the adoption of a shareholder rights plan;
-- Announced on April 3, 2012 a high-grade Mineral Resource estimate for
Brucejack's Valley of the Kings and West Zone;
-- Completed a marketed offering of our common shares on May 9, 2012, for
gross proceeds of $80,540,250.
2012 Exploration
In late February 2012 we began mobilizing seven drills to our Brucejack Project to commence the initial phase of the 2012 Brucejack Exploration Program, which consists of 25,000 meters of drilling focused on upgrading Inferred gold resources to the Indicated resource category. Highlights from the first results (see news release dated April 30, 2012) include:
-- Hole SU-316 intersected 9,110 grams of gold per tonne over 0.5 meters
(266 ounces gold per ton over 1.6 feet) and 1,035 grams of gold per
tonne over 0.8 meters (30 ounces gold per ton over 2.6 feet); and
-- Hole SU-318 intersected 1,490 grams of gold per tonne over 0.7 meters
(43 ounces gold per ton over 2.3 feet).
Planning is underway for the second phase of the 2012 Brucejack Exploration Program to test extensions of the Valley of the Kings along strike and at depth, and to test the six other high-grade gold zones identified to date on the property.
A permit application has been filed to access the Valley of the Kings underground by driving an exploration decline from the 1330 meter level of the existing West Zone underground workings. During the quarter, the West Zone was dewatered past the 1330 meter level and a surveying and geotechnical mapping program was completed. A geotechnical surface drill program to confirm ground conditions between the Valley of the Kings and the West Zone has also been completed. In addition, we are in discussions with a mining contractor to carry out the underground exploration program.
Resource Estimate
On April 3, 2012, we announced a high-grade Mineral Resource estimate for the Brucejack Project which was completed by Snowden Mining Industry Consultants (see Brucejack Project Mineral Resources Update Technical Report dated April 3, 2012 and filed on SEDAR on April 30, 2012). High-grade gold resources in the Valley of the Kings (5.0 g/t gold-equivalent cut-off) now total:
-- 4.9 million ounces of gold in the Indicated Resource category (8.9
million tonnes grading 17.3 grams of gold per tonne); and
-- 10.4 million ounces of gold in the Inferred Resource category (12.7
million tonnes grading 25.5 grams of gold per tonne).
An updated high-grade Mineral Resource estimate based on the initial phase of 2012 drilling is anticipated in the third quarter in support of the feasibility study now underway for the Brucejack Project which is expected to be completed in the first quarter of 2013.
Other Developments
During the first quarter, we completed a private placement of 1,250,000 flow-through common shares at a price of $18.50 per share for aggregate gross proceeds of $23,125,000. The gross proceeds of the offering will be used to accelerate exploration of the Valley of the Kings Zone at the Brucejack Project with infill and expansion drilling.
Pretivm's working capital as at March 31, 2012 was $22,573,811. Subsequent to the end of the quarter, we completed a marketed offering, through a syndicate of underwriters, of 5,554,500 of our common shares at a price of $14.50 per share for gross proceeds of $80,540,250.
We believe we have sufficient working capital to maintain the tempo of activities as we advance the Valley of the Kings and West Zone to production.
Pretivm's unaudited consolidated financial statements and Management Discussion and Analysis for the three months ended March 31, 2012 will be available on SEDAR and Pretivm's website www.pretivm.com.
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
Yesterday was the washout, today is the reversal. Bottom is in. Stick with the strongest performers like PVG on the first part of this next leg up. These past week's have even seen all of the gold bears, who have been wrong every $100 move up for the last $1500 higher, come out to be wrong once again! Thanks guys.
According to my unproven, untested, and unworthy methodologies based in nothing, that double bottom is now confirmed!
Pretivm Announces Closing of Offering
http://finance.yahoo.com/news/pretivm-announces-closing-offering-124100936.html
VANCOUVER, BRITISH COLUMBIA--(Marketwire -05/09/12)- Pretium Resources Inc. (PVG.TO)(PVG) ("Pretivm" or the "Company") announces today that the previously announced offering of common shares (the "Offering") has completed and included the exercise in full of the over-allotment option granted to the syndicate of underwriters. The Offering consisted of an aggregate of 5,554,500 shares at a price of $14.50 per share for gross proceeds of $80,540,250.
The net proceeds of the Offering will be used to fund ongoing exploration on the Company's Brucejack project in northwestern British Columbia.
A copy of the Company's final prospectus supplement dated May 3, 2012 and the short form base shelf prospectus may be obtained in Canada from Scotia Capital Inc. attention: Equity Capital Markets (tel: 416-862-5837), Scotia Plaza, 66th Floor, 40 King Street West, M5W 2X6, Toronto, Ontario; or in the United States, attention: Equity Capital Markets (tel: 212-225-6853), 1 Liberty Plaza, 25th Floor, 165 Broadway, New York, NY, 10006.
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 the Company's financial resources, the estimation of mineral resources, realization of mineral resource estimates, timing of development of the Company'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, the Company'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
Double bottom at $13.00?
Pretivm Prices Offering of Common Shares
http://finance.yahoo.com/news/pretivm-prices-offering-common-shares-132000217.html
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 3, 2012) - Pretium Resources Inc. (PVG.TO - News)(PVG - News) ("Pretivm" or the "Company") announced that it has entered into an underwriting agreement today with a syndicate of underwriters, in connection with its previously announced marketed offering of common shares (the "Offering").
The underwriters have agreed to purchase 4,830,000 shares at a price of C$14.50 per share (the "Offering Price") for gross proceeds of C$70,035,000. The Offering will be made under a prospectus supplement dated May 3, 2012 to the Company's short form base shelf prospectus dated March 19, 2012, to be filed with the securities regulatory authorities in each of the provinces and territories of Canada except Quebec. The Supplement will also be filed with the U.S. Securities and Exchange Commission ("SEC") as part of a registration statement on Form F-10 in accordance with the Multijurisdictional Disclosure System established between Canada and the United States.
The Company has also granted the underwriters an over-allotment option to purchase up to an additional 724,500 common shares at the Offering Price, exercisable for a period of 30 days following closing. Scotia Capital Inc. is the lead underwriter in a syndicate that includes Cormark Securities Inc., GMP Securities L.P., CIBC World Markets Inc., Citigroup Global Markets Canada Inc., UBS Securities Canada Inc., BMO Capital Markets, Dahlman Rose & Company, LLC and Salman Partners Inc.
The net proceeds of the Offering will be used to fund ongoing exploration on the Company's Brucejack project in northwestern British Columbia.
Closing of the Offering will be subject to a number of conditions, including approval of the Toronto Stock Exchange and the New York Stock Exchange.
A copy of the Supplement and the short form base shelf prospectus may be obtained in Canada from Scotia Capital Inc. attention: Equity Capital Markets (416-862-5837), Scotia Plaza, 66th Floor, 40 King Street West, M5W 2X6, Toronto, Ontario; or in the United States, attention: Equity Capital Markets (212-225-6853), 1 Liberty Plaza, 25th Floor, 165 Broadway, New York, NY, 10006.
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 the Company's financial resources, the estimation of mineral resources, realization of mineral resource estimates, timing of development of the Company'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, the Company'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 preliminary Prospectus dated February 24, 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:.
.
Robert Quartermain
Pretium Resources Inc.
President and Chief Executive Officer
(604)558-1784
Michelle Romero
Pretium Resources Inc.
Corporate Relations Director
(604)558-1784
invest@pretivm.com
www.pretivm.com
Pretivm Files 43-101 Technical Report for Brucejack's High-Grade Mineral Resource Estimate
http://finance.yahoo.com/news/pretivm-files-43-101-technical-030200170.html
VANCOUVER, BRITISH COLUMBIA--(Marketwire -04/30/12)- Pretium Resources Inc. (PVG.TO - News)(PVG - News) ("Pretivm") is pleased to report that it has filed on SEDAR "Brucejack Project Mineral Resources Update Technical Report" subsequent to its news release dated April 3, 2012 announcing the high-grade Mineral Resource estimate for its Brucejack Project.
The Technical Report, dated April 3, 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 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.
(SEDAR filings: Pretium Resources Inc.)
Forward-Looking Statement
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, information with respect to timing and completion of possible offerings or secondary offerings under the Prospectus, our planned exploration and development activities, the adequacy of the Company's financial resources, the estimation of mineral resources, realization of mineral resource estimates, timing of development of the Company'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, the Company'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 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
Pretium Resources Inc.: Valley of the Kings Intersects 9,110 g/t Gold as Drilling Resumes
http://finance.yahoo.com/news/pretium-resources-inc-valley-kings-090000827.html
VANCOUVER, BRITISH COLUMBIA--(Marketwire -04/30/12)- Pretium Resources Inc. (PVG.TO - News)(PVG - News) ("Pretivm") is pleased to report initial results from the 2012 drill program at its high-grade gold Brucejack Project in northern British Columbia (see Table 1 below for assays).
Selected highlights from the Valley of the Kings include:
-- Hole SU-316 intersected 9,110 grams of gold per tonne over 0.5 meters
(266 ounces gold per ton over 1.6 feet) and 1,035 grams of gold per
tonne over 0.8 meters (30 ounces gold per ton over 2.6 feet);
-- Hole SU-318 intersected 1,490 grams of gold per tonne over 0.7 meters
(43 ounces gold per ton over 2.3 feet).
2012 Drill Program
An initial 25,000-meter in-fill drill program is underway with seven drills turning and numerous intersections of electrum encountered to date. The first drill holes of the 2012 drill program continue to build on the success of the 2011 drill program with a focus on delineating the eastern end of the Valley of the Kings and testing for extension of the zone to the east. The primary objective of the 2012 drill program is to increase drill density at the Valley of the Kings to upgrade Inferred gold resources to the Indicated resource category in support of the feasibility study underway.
An updated high-grade resource estimate based on the initial 2012 drill program is anticipated in the third quarter. Planning is underway for an expanded drill program anticipated to commence this summer on completion of the in-fill drill program to test extensions of the Valley of the Kings along strike and at depth as well as test the six other high-grade gold zones identified to date, but not included in the high-grade resource estimate.
Table 1: Selected Brucejack Project Drill Results, April 2012 (SU-289 to SU-
310, 316, 318 and 320)(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 ZONE
----------------------------------------------------------------------------
6258061N
SU-289 426645E -75/180 297.5 309.5 12.0 5.28 10.04
----------------------------------------------------------------------------
incl 308.0 309.5 1.5 38.20 39.90
----------------------------------------------------------------------------
6258061N
SU-291 426645E -65/180 25.72 26.42 0.7 10.85 141.00
----------------------------------------------------------------------------
199.5 202.0 2.5 7.30 29.59
----------------------------------------------------------------------------
235.0 238.0 3.0 6.40 15.05
----------------------------------------------------------------------------
280.5 282.0 1.5 9.31 4.10
----------------------------------------------------------------------------
338.0 339.5 1.5 12.55 14.20
----------------------------------------------------------------------------
6257945N
SU-293 426797E -65/284 126.25 127.5 1.25 15.65 10.80
----------------------------------------------------------------------------
210.5 212.0 1.5 24.70 25.90
----------------------------------------------------------------------------
294.5 305.88 11.38 6.66 9.36
----------------------------------------------------------------------------
incl 296.0 297.5 1.5 24.20 12.60
----------------------------------------------------------------------------
381.0 387.5 6.5 9.66 407.64
----------------------------------------------------------------------------
incl 383.43 386.24 2.81 17.60 323.58
----------------------------------------------------------------------------
6258061N
SU-294 426645E -55/180 166.5 171.0 4.5 4.09 14.63
----------------------------------------------------------------------------
6257945N
SU-296 426797E -75/284 250.0 253.0 3.0 13.04 16.50
----------------------------------------------------------------------------
6258100N
SU-297 426537E -45/180 104.5 106.0 1.5 53.00 62.80
----------------------------------------------------------------------------
203.5 218.5 15.0 6.94 10.56
----------------------------------------------------------------------------
incl 217.0 218.5 1.5 58.90 44.90
----------------------------------------------------------------------------
374.5 376.0 1.5 26.00 68.50
----------------------------------------------------------------------------
6257830N
SU-299 426535E -45/360 66.67 67.17 0.5 4.00 1,180
----------------------------------------------------------------------------
219.5 221.0 1.5 29.50 50.80
----------------------------------------------------------------------------
286.88 288.11 1.23 14.05 5.70
----------------------------------------------------------------------------
6258100N
SU-301 426537E -65/180 269.0 273.5 4.5 13.49 11.47
----------------------------------------------------------------------------
347.66 348.16 0.5 146.50 96.00
----------------------------------------------------------------------------
6257955N
SU-302 426595E -60/284 298.0 305.0 7.0 6.93 12.99
----------------------------------------------------------------------------
incl 298.78 299.28 0.5 22.50 14.20
----------------------------------------------------------------------------
6258100N
SU-303 426587E -45/180 144.86 145.36 0.5 74.10 91.10
----------------------------------------------------------------------------
174.5 182.0 7.5 23.02 42.90
----------------------------------------------------------------------------
incl 180.5 182.0 1.5 106.50 182.00
----------------------------------------------------------------------------
6258223N
SU-304 426406E -75/145 302.5 303.66 1.16 120.00 97.00
----------------------------------------------------------------------------
6258100N
SU-305 426562E -45/180 368.0 369.5 1.5 2.48 791.00
----------------------------------------------------------------------------
6257761N
SU-306 426267E -50/30 138.09 138.59 0.5 35.60 18.80
----------------------------------------------------------------------------
216.44 218.0 1.56 19.75 20.90
----------------------------------------------------------------------------
6257833N
SU-307 426525E -65/360 56.5 59.5 3.0 7.84 70.70
----------------------------------------------------------------------------
88.87 89.41 0.54 234.00 745.00
----------------------------------------------------------------------------
155.5 157.0 1.5 43.90 29.50
----------------------------------------------------------------------------
6258100N
SU-310 426562E -55/180 162.0 167.5 5.5 26.06 18.23
----------------------------------------------------------------------------
incl 164.4 164.9 0.5 102.00 75.7
----------------------------------------------------------------------------
191.66 196.67 5.01 12.28 8.92
----------------------------------------------------------------------------
incl 196.17 196.67 0.5 84.00 39.70
----------------------------------------------------------------------------
SU- 2 Gold
316 6257930N samples
(3) 426473E -75/30 302.62 326.75 24.13 29.71 119.66 cut
----------------------------------------------------------------------------
302.62 326.75 24.13 225.85 119.66 Uncut
----------------------------------------------------------------------------
incl 302.62 303.12 0.5 9,110 4,030 Uncut
----------------------------------------------------------------------------
325.95 326.75 0.8 1,035 781 Uncut
----------------------------------------------------------------------------
SU-
318 6257857N
(3) 426500E -70/270 29.5 36.75 7.25 3.06 45.14
----------------------------------------------------------------------------
1 Gold
sample
61.41 71.0 9.59 42.38 68.58 cut
----------------------------------------------------------------------------
61.41 71.0 9.59 114.64 68.58 Uncut
----------------------------------------------------------------------------
61.41 62.11 0.7 1,490 856 Uncut
----------------------------------------------------------------------------
SU- 1 Gold
320 6257900N sample
(3) 426550E -45/0 9.56 20.82 11.26 14.88 32.87 cut
----------------------------------------------------------------------------
9.56 10.06 0.5 305.00 239.00 Uncut
----------------------------------------------------------------------------
135.5 137 1.5 29.60 8.80 Uncut
----------------------------------------------------------------------------
WEST ZONE
----------------------------------------------------------------------------
6258831N
SU-290 426566E -75/135 186.5 202.0 15.5 1.13 75.76
----------------------------------------------------------------------------
224.53 255.5 30.97 6.82 205.33
----------------------------------------------------------------------------
incl 224.53 234.0 9.47 8.93 506.72
----------------------------------------------------------------------------
291.0 308.27 17.27 1.45 4.67
----------------------------------------------------------------------------
6258608N
SU-295 426553E -75/225 123.35 144.44 21.09 6.46 16.76
----------------------------------------------------------------------------
incl 143.94 144.44 0.5 203.00 63.10
----------------------------------------------------------------------------
6258852N
SU-309 426621E -75/135 274.0 283.0 9.0 1.88 87.42
----------------------------------------------------------------------------
(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) Partial drill results.
(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 Statement
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, information with respect to timing and completion of possible offerings or secondary offerings under the Prospectus, our planned exploration and development activities, the adequacy of the Company's financial resources, the estimation of mineral resources, realization of mineral resource estimates, timing of development of the Company'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, the Company'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 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
Pretium Resources Inc.: Valley of the Kings Intersects 9,110 g/t Gold as Drilling Resumes
http://finance.yahoo.com/news/pretium-resources-inc-valley-kings-090000827.html
VANCOUVER, BRITISH COLUMBIA--(Marketwire -04/30/12)- Pretium Resources Inc. (PVG.TO - News)(PVG - News) ("Pretivm") is pleased to report initial results from the 2012 drill program at its high-grade gold Brucejack Project in northern British Columbia (see Table 1 below for assays).
Selected highlights from the Valley of the Kings include:
-- Hole SU-316 intersected 9,110 grams of gold per tonne over 0.5 meters
(266 ounces gold per ton over 1.6 feet) and 1,035 grams of gold per
tonne over 0.8 meters (30 ounces gold per ton over 2.6 feet);
-- Hole SU-318 intersected 1,490 grams of gold per tonne over 0.7 meters
(43 ounces gold per ton over 2.3 feet).
2012 Drill Program
An initial 25,000-meter in-fill drill program is underway with seven drills turning and numerous intersections of electrum encountered to date. The first drill holes of the 2012 drill program continue to build on the success of the 2011 drill program with a focus on delineating the eastern end of the Valley of the Kings and testing for extension of the zone to the east. The primary objective of the 2012 drill program is to increase drill density at the Valley of the Kings to upgrade Inferred gold resources to the Indicated resource category in support of the feasibility study underway.
An updated high-grade resource estimate based on the initial 2012 drill program is anticipated in the third quarter. Planning is underway for an expanded drill program anticipated to commence this summer on completion of the in-fill drill program to test extensions of the Valley of the Kings along strike and at depth as well as test the six other high-grade gold zones identified to date, but not included in the high-grade resource estimate.
Table 1: Selected Brucejack Project Drill Results, April 2012 (SU-289 to SU-
310, 316, 318 and 320)(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 ZONE
----------------------------------------------------------------------------
6258061N
SU-289 426645E -75/180 297.5 309.5 12.0 5.28 10.04
----------------------------------------------------------------------------
incl 308.0 309.5 1.5 38.20 39.90
----------------------------------------------------------------------------
6258061N
SU-291 426645E -65/180 25.72 26.42 0.7 10.85 141.00
----------------------------------------------------------------------------
199.5 202.0 2.5 7.30 29.59
----------------------------------------------------------------------------
235.0 238.0 3.0 6.40 15.05
----------------------------------------------------------------------------
280.5 282.0 1.5 9.31 4.10
----------------------------------------------------------------------------
338.0 339.5 1.5 12.55 14.20
----------------------------------------------------------------------------
6257945N
SU-293 426797E -65/284 126.25 127.5 1.25 15.65 10.80
----------------------------------------------------------------------------
210.5 212.0 1.5 24.70 25.90
----------------------------------------------------------------------------
294.5 305.88 11.38 6.66 9.36
----------------------------------------------------------------------------
incl 296.0 297.5 1.5 24.20 12.60
----------------------------------------------------------------------------
381.0 387.5 6.5 9.66 407.64
----------------------------------------------------------------------------
incl 383.43 386.24 2.81 17.60 323.58
----------------------------------------------------------------------------
6258061N
SU-294 426645E -55/180 166.5 171.0 4.5 4.09 14.63
----------------------------------------------------------------------------
6257945N
SU-296 426797E -75/284 250.0 253.0 3.0 13.04 16.50
----------------------------------------------------------------------------
6258100N
SU-297 426537E -45/180 104.5 106.0 1.5 53.00 62.80
----------------------------------------------------------------------------
203.5 218.5 15.0 6.94 10.56
----------------------------------------------------------------------------
incl 217.0 218.5 1.5 58.90 44.90
----------------------------------------------------------------------------
374.5 376.0 1.5 26.00 68.50
----------------------------------------------------------------------------
6257830N
SU-299 426535E -45/360 66.67 67.17 0.5 4.00 1,180
----------------------------------------------------------------------------
219.5 221.0 1.5 29.50 50.80
----------------------------------------------------------------------------
286.88 288.11 1.23 14.05 5.70
----------------------------------------------------------------------------
6258100N
SU-301 426537E -65/180 269.0 273.5 4.5 13.49 11.47
----------------------------------------------------------------------------
347.66 348.16 0.5 146.50 96.00
----------------------------------------------------------------------------
6257955N
SU-302 426595E -60/284 298.0 305.0 7.0 6.93 12.99
----------------------------------------------------------------------------
incl 298.78 299.28 0.5 22.50 14.20
----------------------------------------------------------------------------
6258100N
SU-303 426587E -45/180 144.86 145.36 0.5 74.10 91.10
----------------------------------------------------------------------------
174.5 182.0 7.5 23.02 42.90
----------------------------------------------------------------------------
incl 180.5 182.0 1.5 106.50 182.00
----------------------------------------------------------------------------
6258223N
SU-304 426406E -75/145 302.5 303.66 1.16 120.00 97.00
----------------------------------------------------------------------------
6258100N
SU-305 426562E -45/180 368.0 369.5 1.5 2.48 791.00
----------------------------------------------------------------------------
6257761N
SU-306 426267E -50/30 138.09 138.59 0.5 35.60 18.80
----------------------------------------------------------------------------
216.44 218.0 1.56 19.75 20.90
----------------------------------------------------------------------------
6257833N
SU-307 426525E -65/360 56.5 59.5 3.0 7.84 70.70
----------------------------------------------------------------------------
88.87 89.41 0.54 234.00 745.00
----------------------------------------------------------------------------
155.5 157.0 1.5 43.90 29.50
----------------------------------------------------------------------------
6258100N
SU-310 426562E -55/180 162.0 167.5 5.5 26.06 18.23
----------------------------------------------------------------------------
incl 164.4 164.9 0.5 102.00 75.7
----------------------------------------------------------------------------
191.66 196.67 5.01 12.28 8.92
----------------------------------------------------------------------------
incl 196.17 196.67 0.5 84.00 39.70
----------------------------------------------------------------------------
SU- 2 Gold
316 6257930N samples
(3) 426473E -75/30 302.62 326.75 24.13 29.71 119.66 cut
----------------------------------------------------------------------------
302.62 326.75 24.13 225.85 119.66 Uncut
----------------------------------------------------------------------------
incl 302.62 303.12 0.5 9,110 4,030 Uncut
----------------------------------------------------------------------------
325.95 326.75 0.8 1,035 781 Uncut
----------------------------------------------------------------------------
SU-
318 6257857N
(3) 426500E -70/270 29.5 36.75 7.25 3.06 45.14
----------------------------------------------------------------------------
1 Gold
sample
61.41 71.0 9.59 42.38 68.58 cut
----------------------------------------------------------------------------
61.41 71.0 9.59 114.64 68.58 Uncut
----------------------------------------------------------------------------
61.41 62.11 0.7 1,490 856 Uncut
----------------------------------------------------------------------------
SU- 1 Gold
320 6257900N sample
(3) 426550E -45/0 9.56 20.82 11.26 14.88 32.87 cut
----------------------------------------------------------------------------
9.56 10.06 0.5 305.00 239.00 Uncut
----------------------------------------------------------------------------
135.5 137 1.5 29.60 8.80 Uncut
----------------------------------------------------------------------------
WEST ZONE
----------------------------------------------------------------------------
6258831N
SU-290 426566E -75/135 186.5 202.0 15.5 1.13 75.76
----------------------------------------------------------------------------
224.53 255.5 30.97 6.82 205.33
----------------------------------------------------------------------------
incl 224.53 234.0 9.47 8.93 506.72
----------------------------------------------------------------------------
291.0 308.27 17.27 1.45 4.67
----------------------------------------------------------------------------
6258608N
SU-295 426553E -75/225 123.35 144.44 21.09 6.46 16.76
----------------------------------------------------------------------------
incl 143.94 144.44 0.5 203.00 63.10
----------------------------------------------------------------------------
6258852N
SU-309 426621E -75/135 274.0 283.0 9.0 1.88 87.42
----------------------------------------------------------------------------
(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) Partial drill results.
(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 Statement
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, information with respect to timing and completion of possible offerings or secondary offerings under the Prospectus, our planned exploration and development activities, the adequacy of the Company's financial resources, the estimation of mineral resources, realization of mineral resource estimates, timing of development of the Company'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, the Company'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 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
edit - sorry for the reply Traderfan - meant to do a new message
PVG +6.69% $15.14 PVG.TO +0.96 $15.02
Lots of red on my screen on the latest nonsense from the fed but Pretivm continues to be a bright spot in the badly beeten down junior gold sector
http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aPVG-1944286&symbol=PVG®ion=C
Pretium Resources' Brucejack at 5.8 moz Au M+I
Pretium Resources Inc. has released a high-grade mineral resource estimate for the Valley of the Kings and West zone of its wholly owned Brucejack project located in Northern British Columbia. The resource estimate was completed by Snowden Mining Industry Consultants as part of the feasibility study now under way for the Brucejack project.
Valley of the Kings high-grade gold resources
High-grade gold resources in the Valley of the Kings (five grams per tonne (g/t) gold equivalent cut-off) now total:
4.9 million ounces of gold in the indicated resource category (8.9 million tonnes grading 17.3 grams of gold per tonne);
10.4 million ounces of gold in the inferred resource category (12.7 million tonnes grading 25.5 grams of gold per tonne).
Pretium Resources Inc.: High-Grade Gold Mineral Resource Estimate Completed for Brucejack Project
http://finance.yahoo.com/news/pretium-resources-inc-high-grade-090000929.html
VANCOUVER, BRITISH COLUMBIA--(Marketwire -04/03/12)- Pretium Resources Inc. (TSX: PVG.TO - News)(NYSE: PVG - News) ("Pretivm") is pleased to report a high-grade Mineral Resource estimate for the Valley of the Kings and West Zone of its wholly-owned Brucejack Project located in northern British Columbia. The resource estimate was completed by Snowden Mining Industry Consultants ("Snowden") as part of the feasibility study now underway for the Brucejack Project.
Valley of the Kings High-Grade Gold Resources
High-grade gold resources in the Valley of the Kings (5.0 g/t gold-equivalent cut-off) now total:
-- 4.9 million ounces of gold in the Indicated Resource category (8.9 million tonnes grading 17.3 grams of gold per tonne); and-- 10.4 million ounces of gold in the Inferred Resource category (12.7 million tonnes grading 25.5 grams of gold per tonne).Table 1: Valley of the Kings Mineral Resource estimate - April 2012(1)(4)(Based on a cut-off grade of 5.0 grams of gold-equivalent/tonne)---------------------------------------------------------------------------- Contained(3) ---------------------------- Tonnes Gold Silver Gold SilverCategory (millions) (g/t) (g/t) (million oz) (million oz)----------------------------------------------------------------------------Indicated 8.9 17.3 14.5 4.9 4.1--------------------------------------------------------------------------------------------------------------------------------------------------------Inferred(2) 12.7 25.5 11.6 10.4 4.7----------------------------------------------------------------------------(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 may differ due to rounding.(4) The Mineral Resource estimate stated in Table 1 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.
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)---------------------------------------------------------------------------- Contained(3) ---------------------------- Tonnes Gold Silver Gold SilverCategory (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) and (4) See footnotes to Table 1
Combined high-grade Mineral Resources for the Valley of the Kings and West Zone are summarized in Table 3:
Table 3: Mineral Resource estimate: Valley of the Kings and West Zone -April 2012(1)(4)(Based on a cut-off grade of 5.0 grams of gold-equivalent/tonne)---------------------------------------------------------------------------- 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--------------------------------------------------------------------------------------------------------------------------------------------------------West Zone 2.5 5.86 190 0.5 15.1--------------------------------------------------------------------------------------------------------------------------------------------------------Valley of theKings 8.9 17.3 14.5 4.9 4.1-------------------------------------------------------------------------------------------------------------------------------------------------------- Total - Measured and Indicated Resources--------------------------------------------------------------------------------------------------------------------------------------------------------Total 13.7 13.2 104 5.8 46.0-------------------------------------------------------------------------------------------------------------------------------------------------------- Inferred(2) Resources--------------------------------------------------------------------------------------------------------------------------------------------------------Valley of theKings 12.7 25.5 11.6 10.4 4.7----------------------------------------------------------------------------West Zone 4.0 6.44 82 0.8 10.6---------------------------------------------------------------------------- Total - Inferred(2) Resources--------------------------------------------------------------------------------------------------------------------------------------------------------Total 16.7 20.9 28 11.3 15.3--------------------------------------------------------------------------------------------------------------------------------------------------------(1), (2), (3) and (4) See footnotes to Table 1
Mineral Resource Modeling and Estimation
The April 2012 Mineral Resource estimates for West Zone and Valley of the Kings 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 m by 5 m or 5 m by 10 m spaced drilling. Areas classified as Indicated Resources are informed by 20 m by 20 m to 20 m by 40 m drilling within both West Zone and Valley of the Kings. The remainder of the Mineral Resource is classified as 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 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 West Zone gold-silver deposit is hosted by a north-westerly trending band of intensely altered Lower Jurassic latitic to trachyandesitic volcanic and subordinate sedimentary rocks, as much as 400 m to 500 m thick. The stratified rocks dip moderately to steeply to the northeast and are intensely altered, particularly in the immediate area of the precious metals mineralization. The West Zone deposit itself comprises at least 10 quartz veins and mineralized quartz stockwork ore shoots, the longest of which has a strike length of approx. 250 m and a maximum thickness of about approx. 6 m.
The Valley of the Kings gold-silver deposit is approximately 500 m south of the 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 450 m. The zone is up to 150 m wide and is bound to the west by the Brucejack fault but remains open 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 Valley of the Kings, together with a nominal 0.3 g/t Au grade cut-off to define a series of mineralised domains for estimation. 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 West Zone estimate comprises 756 drillholes for 62,208 m including 439 underground drillholes (24,688 m), 269 historical surface drillholes (21,321 m) and 48 surface drillholes completed since 2009 (17,199 m). The input data for the Valley of the Kings estimate comprises 156 drillholes for 59,100 m including 9 historical surface drillholes (579 m) and 147 surface drillholes completed since 2009 (58,521 m). These figures exclude intervals with no gold values and drillholes outside of the main deposit areas.
Both West Zone and 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 18,000 g/t Au. Discussions with Pretium 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 and estimated them independently. All data was composited to the nominal sample length of 1.5 m prior to analysis and estimation. A threshold of 5 g/t Au was selected to separate the two populations based on review of the population statistics and graphs. The silver data was treated using the same method with a threshold of 30 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 m by 10 m by 10 m 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 for the Valley of the Kings is 509 g/t Au, and for the West Zone the threshold is 93 g/t Au. 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 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.
For West Zone, around 5% of the data is above 5 g/t Au and the average proportion of high grades within the blocks was estimated at 5% within the Measured and Indicated portions of the estimate. For Valley of the Kings, around 2% of the data is above 5 g/t Au and the average proportion of high grades within the blocks was estimated at 2% within the Indicated portions of the estimate.
Tonnages were estimated on a dry basis with density values estimated into the models using ordinary 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 Valley of the Kings to date.
Notes
The high-grade Mineral Resource estimate is based on existing data and an updated geological model. It will be used to initiate mine planning while additional in-fill drilling is being completed in the Valley of the Kings.
The previous Mineral Resource estimate completed in November 2011 for the Brucejack Project (see news release dated November 28, 2011) was a bulk-tonnage Mineral Resource estimate with a high-grade underground sensitivity for the Valley of the Kings and West Zone using a 5 g/t gold-equivalent cut-off.
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.
Drill Program
An initial 24,000-meter drill program with six drills is now underway in the Valley of the Kings, with the objective of upgrading the Inferred resource to Indicated in support of the feasibility study now underway. An updated high-grade resource estimate based on this new data will be prepared and announced on completion.
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 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, information with respect to timing and completion of possible offerings or secondary offerings under the Prospectus, our planned exploration and development activities, the adequacy of the Company's financial resources, the estimation of mineral resources, realization of mineral resource estimates, timing of development of the Company'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, the Company'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 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
Pretium's warrants to delist from TSX April 9
Pretium Resources Inc.'s warrants, currently trading under the symbol PVG.WT, will expire and delist from the Toronto Stock Exchange on Monday, April 9, 2012, according to the TSX. The exchange reports the warrants are due to expire at 4 p.m. (Vancouver time) on April 7, 2012. As this is a Saturday, Pretium has arranged for Computershare Trust Company to accept subscription instructions until 4 p.m. (Vancouver time) on April 9, 2012. The TSX will delist the warrants at the close of trading on April 9, 2012. One warrant entitles the holder to buy one share for $12.50.
Pretivm Adopts Shareholder Rights Plan
http://finance.yahoo.com/news/pretivm-adopts-shareholder-rights-plan-222500944.html
VANCOUVER, BRITISH COLUMBIA--(Marketwire -04/02/12)- Pretium Resources Inc. (TSX: PVG.TO - News)(NYSE: PVG - News) ("Pretivm" or the "Company") announces that its Board of Directors has adopted a shareholder rights plan (the "Plan"), subject to TSX acceptance.
The purpose of the Plan is to provide Pretivm's Board of Directors and shareholders with sufficient time to fully consider any unsolicited take-over bid for the Company, to ensure that Pretivm's Board of Directors has sufficient time to explore alternative transactions that would maximize value for shareholders, and to encourage the fair treatment of all Pretivm shareholders.
Shareholders will be asked to approve the Plan at the annual general and special meeting of shareholders to be held on May 10, 2012. If ratified, the Plan will have an initial term which expires at the annual meeting of shareholders of the Company to be held in 2015, unless terminated earlier.
The adoption of the Plan is not in response to any specific proposal to acquire control of Pretivm, and Pretivm is not aware of a specific bid or contemplated bid by any particular company.
In order to implement the Plan, the Board of Directors has authorized the issuance of the rights to holders of Pretivm common shares outstanding as of 5:00pm E.T. on April 5, 2012 (the "Record Time") at the rate of one right for each common share outstanding. The rights will automatically attach to the common shares outstanding as of the Record Time and no further action will be required by shareholders. The Board of Directors adopted the Plan after determining that its provisions are in the best interests of Pretivm.
Under the terms of the Plan, a "Permitted Bid" is a bid that is open for not less than 60 days and is made to all shareholders. If, at the end of the 60 days, at least 50% of the outstanding common shares held by independent shareholders have been tendered to the bid, the offeror may take up and pay for the common shares, but must extend the bid for a further 10 business days to allow other shareholders to tender.
The complete text of the Plan will be available at www.sedar.com or upon request from the Company.
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 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, information with respect to approval of the Plan by shareholders. 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 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 for 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
Gap filled.
Pretivm Files Final Base Shelf Prospectus for Future Securities Offerings
http://finance.yahoo.com/news/pretivm-files-final-shelf-prospectus-220100829.html
VANCOUVER, BRITISH COLUMBIA--(Marketwire -03/19/12)- Pretium Resources Inc. (TSX: PVG.TO - News)(NYSE: PVG.TO - News) ("Pretivm" or the "Company") has filed a final short form base shelf prospectus (the "Prospectus") with the securities regulatory authorities in each of the provinces and territories of Canada except Quebec. The Prospectus was also filed with the U.S. Securities and Exchange Commission ("SEC") as part of a registration statement on Form F-10 in accordance with the Multijurisdictional Disclosure System established between Canada and the United States.
The Prospectus will enable the Company to make offerings of up to an aggregate principal amount of C$180 million of common shares, warrants, units or subscription receipts of the Company, which includes up to C$36 million in common shares owned by Silver Standard Resources Inc. ("Silver Standard") that may be offered by way of a secondary offering under the Prospectus. The securities may be offered in Canada and the United States from time to time, separately or together, in amounts, at prices and on terms to be determined based on market conditions at the time of the offering and as set out in an accompanying prospectus supplement, during the 25-month period that the Prospectus remains effective. Unless otherwise specified in the prospectus supplement relating to a particular offering of securities, the net proceeds from any sale of any securities will be used for development of our mineral properties, working capital requirements, acquisitions of additional mineral properties and for other general corporate purposes. The Company will not receive any proceeds from the sale of common shares owned by Silver Standard by way of a secondary offering.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
A copy of the final short form base shelf prospectus may be obtained from Alicia Milne, the Company's assistant corporate secretary, at 1600-570 Granville Street, Vancouver, British Columbia V6C 3P1.
Forward Looking Statement
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, information with respect to timing and completion of possible offerings or secondary offerings under the Prospectus, our planned exploration and development activities, the adequacy of the Company's financial resources, the estimation of mineral resources, realization of mineral resource estimates, timing of development of the Company'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, the Company'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 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
Silver Standard's q:
http://finance.yahoo.com/news/silver-standard-reports-fourth-quarter-110000812.html
Monetized approximately one-third of the Company's shareholding in Pretium Resources Inc. ("Pretium") for $130 million, while retaining an interest with a market value at February 29, 2012, in excess of $400 million.
Standard & Poor's Canadian index operations have made index changes as a result of the quarterly S&P/TSX Composite Index review. These changes will be effective at the open on Monday, March 19, 2012.
S&P/TSX COMPOSITE INDEX ADDITION
Issue name Symbol 60/Completion Live composite GICS sector index
Pretium Resources Inc. PVG Completion materials
Changes to the S&P/TSX Composite Index will also affect the S&P/TSX Capped Composite Index and the S&P/TSX Composite Equal Weight Index. Stocks added to or removed from the S&P/TSX Composite Index will also be added to or removed from the appropriate global industry classification standard (GICS) sector index.
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OT:
Coinmaker do you have sets of all of the different coins you have produced in the past or are those sold out and gone?
Pretivm Reports Fourth Quarter and Year-End 2011 Results
http://finance.yahoo.com/news/pretivm-reports-fourth-quarter-end-033000472.html
VANCOUVER, BRITISH COLUMBIA--(Marketwire -03/06/12)- Pretium Resources Inc. (TSX: PVG.TO - News)(NYSE: PVG.TO - News) ("Pretivm") is pleased to report the following highlights from the fourth quarter of 2011 and updates for its Brucejack Project in northern British Columbia.
Fourth Quarter 2011 Highlights and Significant Events:
-- Expanded and winterized the Brucejack camp for year-round operations, mobilized crew and equipment to commence de-watering the 5,300 meters of historic West Zone underground workings, completed a power line study examining alternatives for routing electric power into the Brucejack Project and acquired of additional project claims to support potential project infrastructure;-- Completed the 2011 drill program totalling 72,144 meters which was successful in significantly increasing the grade and tonnage of the gold resources at the Brucejack Project;-- Announced an updated bulk-tonnage Mineral Resource Estimate for Brucejack and a sensitivity analysis of the Brucejack underground mining potential, based on a cut-off of 5.0 grams per tonne gold equivalent, completed simultaneously with the bulk tonnage Mineral Resource Estimate, the sensitivity analysis outlined: -- 5.33 million ounces of gold in the Measured and Indicated Mineral Resource categories (8.6 million tonnes grading 19.35 grams of gold per tonne); and -- 3.29 million ounces of gold in the Inferred Mineral Resource category (4.0 million tonnes grading 25.73 grams of gold per tonne);-- Ended the year with working capital at December 31, 2011 of $18.7 million;-- Began trading on the NYSE on January 12, 2012 under the symbol "PVG", and commemorated the listing by ringing the opening bell that day;-- Completed a private placement on February 17, 2012 of 1,250,000 flow- through common shares at $18.50 per share for gross proceeds of $23.1 million.
Brucejack Project
Subsequent to the end of the quarter, Pretivm announced the positive results of a 43-101-compliant Preliminary Economic Assessment ("PEA") for the high-grade gold and silver resources identified to date at our Brucejack Project (see news release dated February 22, 2012). Based on metals prices of US$1,100 per ounce gold and US$21 per ounce silver, the Base Case estimated pre-tax Net Present Value (5% discount) is US$2.262 billion, with an internal rate of return of 29.8%. The PEA contemplates average annual production for the first 12 years of 325,000 ounces of gold and for the 24 year life of mine 287,000 ounces of gold, an estimated capital cost, including contingencies, of US$436.3 million and an average processing rate of 1,500 tonnes/day with operating costs of C$170.90 per tonne milled.
Pretivm has retained Wardrop, a Tetra Tech Company to prepare a feasibility study on the high-grade gold opportunity at Brucejack. As part of the feasibility study, Pretivm has retained Snowden Mining Industry Consultants to provide an underground resource model for the high-grade gold and silver resources identified to date in the Valley of the Kings and West Zone. The feasibility study is expected to be completed by year-end.
Also in support of the feasibility study, an initial program of 24,000 meters of surface infill drilling has commenced in the Valley of the Kings. This initial drilling will be focused on the mineralization to be mined in the first 12 years as contemplated in the PEA, and tightening the drill spacing with the intent to increase the level of confidence to move Inferred mineral resources to Measured and Indicated mineral resource categories.
A permit application has been filed to access the Valley of the Kings underground by driving an exploration decline from the 1330 meter level of the existing West Zone underground workings. The West Zone has been dewatered past the 1330 meter level and a surveying and geotechnical mapping program has been completed. A 3,500-meter geotechnical surface drill program is now underway to confirm ground conditions between the Valley of the Kings and the West Zone.
Snowfield Project
An internal engineering study with Seabridge Gold Inc., whose KSM project shares a common boundary with our Snowfield Project, has now been finalized. The study indicates that developing the KSM and Snowfield deposits together could produce marginally better economics at base case metal prices than developing KSM as a stand-alone project, although no property acquisition costs or allocation of initial KSM capital have been considered. Snowfield represents a longer term gold opportunity for our shareholders. We do not have to expend further funds on the project until 2022, and we will be opportunistic to realize value for Snowfield as we focus our corporate resources on advancing the high-grade opportunity at our Brucejack Project.
Other Developments
On February 27, 2012, we announced the filing of a preliminary short form base shelf prospectus that when made final, will enable us to make offerings of up to an aggregate principal amount of C$180 million of securities, which includes up to C$36 million in common shares owned by Silver Standard Resources Inc. that may be offered by way of a secondary offering under the prospectus.
Pretivm's working capital as at December 31, 2011 was $18,698,983. On February 17, 2012 we completed a private placement of 1,250,000 flow-through common shares at a price of $18.50 per share for aggregate gross proceeds of $23,125,000. With the current planned expenditures on our Projects, we believe we have sufficient working capital to meet our administrative overhead and fund our planned exploration programs through 2012.
Pretivm's audited consolidated financial statements and Management Discussion and Analysis for the year ended December 31, 2011 will be available on SEDAR.
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.
(SEDAR filings: Pretium Resources Inc.)
Forward Looking Statement
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, information with respect to our planned exploration and development activities, the adequacy of our financial resources, the estimation of mineral resources, realization of mineral resource estimates, timing of development of the 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, our 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 (often, but not always, using words or phrases such as "expects", "anticipates", "plans", "projects", "estimates", "assumes", "intends", "strategy", "goals", "objectives", "potential" or variations thereof, or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) 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 preliminary short form base shelf prospectus dated February 24, 2012 filed on SEDAR at www.sedar.com. 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.
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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
PDAC 2012: Quartermain strikes gold again, 30 years later
http://business.financialpost.com/2012/03/05/quartermain-strikes-gold-again-30-years-later/
When Robert Quartermain meets with investors, he brings along some stunning high-grade drill core from his Brucejack and Snowfield gold projects in British Columbia to show them in person.
“I’ve been in the business 35 years, and only saw anything like this at the Royal Ontario Museum and Red Lake,” the chief executive of Pretium Resources Inc. said in an interview as he held onto the core.
Mr. Quartermain, 56, is best known as the long-running chief executive of Silver Standard Resources Inc. He left that job in early 2010, and then acquired the Brucejack/Snowfield projects from Silver Standard and started Pretium.
The projects had a vast low-grade gold resource when he acquired them, but historical drilling only found a hint of the high-grade. Pretium found the high grade stuff last year after extensive drilling, and the stock has gone berserk ever since – it has more than doubled since November alone, giving Pretium a market value of more than $1.5-billion. The company now plans to spend about US$436-million to build a mine producing 325,000 ounces a year.
Despite his long-standing experience in silver, this is the second time he has worked on a major gold discovery. Thirty years ago, he was at the Hemlo gold camp in Ontario in the early days of that project. “It’s great to be involved in another great gold discovery,” he said.
Pretium omits P&L from 2011 results NR
2012-03-07 06:24 ET - News Release
Mr. Robert Quartermain reports
PRETIVM REPORTS FOURTH QUARTER AND YEAR-END 2011 RESULTS
Pretium Resources Inc. has released the following highlights from the fourth quarter of 2011 and updates for its Brucejack project in Northern British Columbia.
Fourth Quarter 2011 Highlights and Significant Events:
-- Expanded and winterized the Brucejack camp for year-round operations,
mobilized crew and equipment to commence de-watering the 5,300 meters of
historic West Zone underground workings, completed a power line study
examining alternatives for routing electric power into the Brucejack
Project and acquired of additional project claims to support potential
project infrastructure;
-- Completed the 2011 drill program totalling 72,144 meters which was
successful in significantly increasing the grade and tonnage of the gold
resources at the Brucejack Project;
-- Announced an updated bulk-tonnage Mineral Resource Estimate for
Brucejack and a sensitivity analysis of the Brucejack underground mining
potential, based on a cut-off of 5.0 grams per tonne gold equivalent,
completed simultaneously with the bulk tonnage Mineral Resource
Estimate, the sensitivity analysis outlined:
-- 5.33 million ounces of gold in the Measured and Indicated Mineral
Resource categories (8.6 million tonnes grading 19.35 grams of gold
per tonne); and
-- 3.29 million ounces of gold in the Inferred Mineral Resource
category (4.0 million tonnes grading 25.73 grams of gold per tonne);
-- Ended the year with working capital at December 31, 2011 of $18.7
million;
-- Began trading on the NYSE on January 12, 2012 under the symbol "PVG",
and commemorated the listing by ringing the opening bell that day;
-- Completed a private placement on February 17, 2012 of 1,250,000 flow-
through common shares at $18.50 per share for gross proceeds of $23.1
million.
Brucejack Project
Subsequent to the end of the quarter, Pretium announced the positive results of a 43-101-compliant Preliminary Economic Assessment ("PEA") for the high-grade gold and silver resources identified to date at our Brucejack Project (see news release dated February 22, 2012). Based on metals prices of US$1,100 per ounce gold and US$21 per ounce silver, the Base Case estimated pre-tax Net Present Value (5% discount) is US$2.262 billion, with an internal rate of return of 29.8%. The PEA contemplates average annual production for the first 12 years of 325,000 ounces of gold and for the 24 year life of mine 287,000 ounces of gold, an estimated capital cost, including contingencies, of US$436.3 million and an average processing rate of 1,500 tonnes/day with operating costs of C$170.90 per tonne milled.
Pretium has retained Wardrop, a Tetra Tech Company to prepare a feasibility study on the high-grade gold opportunity at Brucejack. As part of the feasibility study, Pretium has retained Snowden Mining Industry Consultants to provide an underground resource model for the high-grade gold and silver resources identified to date in the Valley of the Kings and West Zone. The feasibility study is expected to be completed by year-end.
Also in support of the feasibility study, an initial program of 24,000 meters of surface infill drilling has commenced in the Valley of the Kings. This initial drilling will be focused on the mineralization to be mined in the first 12 years as contemplated in the PEA, and tightening the drill spacing with the intent to increase the level of confidence to move Inferred mineral resources to Measured and Indicated mineral resource categories.
A permit application has been filed to access the Valley of the Kings underground by driving an exploration decline from the 1330 meter level of the existing West Zone underground workings. The West Zone has been dewatered past the 1330 meter level and a surveying and geotechnical mapping program has been completed. A 3,500-meter geotechnical surface drill program is now underway to confirm ground conditions between the Valley of the Kings and the West Zone.
Snowfield Project
An internal engineering study with Seabridge Gold Inc., whose KSM project shares a common boundary with our Snowfield Project, has now been finalized. The study indicates that developing the KSM and Snowfield deposits together could produce marginally better economics at base case metal prices than developing KSM as a stand-alone project, although no property acquisition costs or allocation of initial KSM capital have been considered. Snowfield represents a longer term gold opportunity for our shareholders. We do not have to expend further funds on the project until 2022, and we will be opportunistic to realize value for Snowfield as we focus our corporate resources on advancing the high-grade opportunity at our Brucejack Project.
Other Developments
On February 27, 2012, we announced the filing of a preliminary short form base shelf prospectus that when made final, will enable us to make offerings of up to an aggregate principal amount of C$180 million of securities, which includes up to C$36 million in common shares owned by Silver Standard Resources Inc. that may be offered by way of a secondary offering under the prospectus.
Pretium's working capital as at December 31, 2011 was $18,698,983. On February 17, 2012 we completed a private placement of 1,250,000 flow-through common shares at a price of $18.50 per share for aggregate gross proceeds of $23,125,000. With the current planned expenditures on our Projects, we believe we have sufficient working capital to meet our administrative overhead and fund our planned exploration programs through 2012.
Pretium's audited consolidated financial statements and Management Discussion and Analysis for the year ended December 31, 2011 will be available on SEDAR.
We seek Safe Harbor.
This video is a must watch: http://news.goldseek.com/GoldSeek/1330635600.php
I started watching it for Bob Quartermain who has some nice Pretivm PVG highlights from about 5-9 minutes, but I found the whole video quite interesting and educational.
This video is a must watch: http://news.goldseek.com/GoldSeek/1330635600.php
I started watching it for Bob Quartermain who has some nice Pretivm PVG highlights from about 5-9 minutes, but I found the whole video quite interesting and educational.
Auriga Gold Reports High-Grade Gold Intersections from Nokomis Deposit, Maverick Gold Project, Manitoba, Including Uncut Values Up to 1,830 g/t Over 0.5 m
http://finance.yahoo.com/news/auriga-gold-reports-high-grade-195525345.html