Value Microcaps Junior Miners

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Pretium drills 0.5 m of 5,740 g/t Au at Brucejack

2011-09-12 06:45 ET - News Release

http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aPVG-1880827&symbol=PVG®ion=C

Mr. Robert Quartermain reports

PRETIUM RESOURCES INC.: VALLEY OF THE KINGS DRILLING CONTINUES TO DEMONSTRATE CONTINUITY OF HIGH-GRADE GOLD

Pretium Resources Inc. has released results from the Brucejack project where continuing drilling in the Valley of the Kings zone continues to demonstrate the continuity of high-grade gold mineralization. (See the associated table for the most recent 15 holes.)

Valley of the Kings zone

Selected highlights include:


Hole SU-195 intersected 0.5 metre with uncut grades of 5,740 grams per tonne gold (g/t Au) and 2,750 grams of silver per tonne (1.6 feet averaging 167.4 ounces gold and 80.2 ounces of silver per ton).
Hole SU-193 intersected 1.5 metres with uncut grades of 1,040 grams of gold per tonne (4.9 feet averaging 30.3 ounces gold per ton).

In addition to these bonanza-grade intercepts, drilling continues to intersect significant gold mineralization over broad widths. Hole SU-193 noted above encountered additional mineralization at depth grading 7.2 grams per tonne gold over 43 metres, including 1.5 metres with an uncut grade of 268 grams per tonne gold. Hole SU-200, collared 300 metres to the northeast of hole SU-193, intersected 15.5 metres grading 13.3 grams per tonne gold, including 1.5 metres with an uncut grade of 399 grams per tonne gold. These results demonstrate that many of the high-grade intersections occur within wide zones of economically significant lower-grade gold mineralization. There are now seven drills turning in the Valley of the Kings zone.

Other zones

The company is continuing to define the high-grade structures in the Gossan Hill zone. Hole SU-201 intersected 1.5 metres with an uncut grade of 168.5 grams per tonne gold. Hole SU-207 intersected 48.5 metres grading 7.7 grams per tonne gold, which included higher-grade intervals of 0.5 metre with an uncut grade of 350 grams per tonne gold, and 1.5 metres with an uncut grade of 224 grams per tonne gold.

Drilling in the Golden Marmot zone, located 3-1/2 kilometres north of the Valley of the Kings zone, has identified a new high-grade structure. Hole SU-197, the first hole drilled in the Golden Marmot zone, intersected 1.3 metres grading 23 grams per tonne gold within a wider zone of 17.3 metres grading 2.8 grams per tonne gold.

Pretium has now completed over 58,000 metres of the planned 70,000-metre drill program on the Brucejack project. Eight drills are on-site, and the Valley of the Kings zone remains a major focus. Assay results for completed drilling will be reported as they are received.


SELECTED BRUCEJACK PROJECT DRILL RESULTS
September, 2011 (SU-193 to SU-207)(1,4)

Valley of the Kings zone
Hole From To Interval Gold Silver
No. (m) (m) (m) (g/t) (g/t)

SU-193 84.5 122.5 38.0 6.11 3.7
incl. 93.5 95.0 1.5 1,040.0 29.5
186.0 192.0 6.0 6.18 6.5
incl. 186.0 187.5 1.5 18.95 12.3
298.0 341.0 43.0 7.25 8.3
incl. 298.0 299.54 1.54 268.0 47.6
incl. 312.0 312.5 0.5 331.0 85.9
673.99 683.5 9.51 7.68 8.2
incl. 673.99 674.49 0.5 223.0 132
SU-194 13.5 108.5 95.0 1.10 10.3
incl. 105.48 107 1.52 26.0 48.3
SU-195 149.77 173.5 23.73 1.67 13.7
332.7 349.89 17.19 9.49 75.0
incl. 332.7 333.2 0.5 46.0 50
incl. 339.69 340.19 0.5 632.0 323
incl. 349.39 349.89 0.5 5,740.0 2,750
401.0 449.5 48.5 1.08 3.9
SU-196 7.5 102.9 95.4 0.75 7.7
145.0 197.0 52.0 1.76 12.1
SU-200 14.0 29.5 15.5 13.29 25.1
incl. 20.5 22.0 1.5 399.0 154.0
176.0 235.0 59.0 1.19 6.5
incl. 234.5 235.0 0.5 20.5 7.8
SU-204 41.0 44.0 3.0 13.6 13.6
148.7 149.2 0.5 1.60 1,350
342.5 480.0 137.5 1.0 6.8
SU-205 81.0 103.0 22.0 0.82 11.5
252.0 287.0 35.0 2.07 10.0
incl. 258.6 259.1 0.5 121.0 63.0
324.5 339.5 15.0 3.17 5.8
incl. 330.5 332.0 1.5 17.15 35.7
SU-206 251.5 310.0 58.5 1.02 5.7
356.0 362.5 6.5 12.62 8.3
incl. 359.0 361.2 2.2 31.46 16.5


Gossan Hill zone
Hole From To Interval Gold Silver
No. (m) (m) (m) (g/t) (g/t)

SU-198 63.0 93.0 30.0 1.47 10.9
240.5 242.0 1.5 14.8 10.2
SU-201 52.0 53.5 1.5 168.5 94.1
285.5 313.5 28.0 0.83 3.8
SU-207 179.0 227.5 48.5 7.7 22.3
incl. 204.6 205.1 0.5 350.0 740.0
incl. 209.5 211.0 1.5 224.0 153.0


Waterloo zone
Hole From To Interval Gold Silver
No. (m) (m) (m) (g/t) (g/t)

SU-199 33.0 73.5 40.5 1.09 5.1
SU-203 87.5 112.0 24.5 1.14 5.5


Galena Hill zone
Hole From To Interval Gold Silver
No. (m) (m) (m) (g/t) (g/t)

SU-202 60.0 70.8 10.8 2.09 8.9
480.8 481.3 0.5 73.8 52.1
519.0 538.6 19.6 1.01 4.5


Golden Marmot
Hole From To Interval Gold Silver
No. (m) (m) (m) (g/t) (g/t)

SU-197 403.7 421.0 17.3 2.78 10.0
incl. 419.7 421.0 1.3 23.10 34.2

Notes
(1) True thickness to be determined.
(2) Unless otherwise indicated as uncut, all gold assays
over 130 g/t were cut to 130 g/t, and all silver assays
over 2,100 g/t were cut to 2,100 g/t.
(3) Hole ended in mineralization.
(4) All samples were submitted for preparation and
analysis by ALS Chemex at its facilities in Terrace,
B.C. All samples were analyzed using multidigestion
with ICP finish. Samples over 100 parts per million (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.



Kenneth C. McNaughton, MASc, PEng, chief exploration officer, Pretium Resources, is the qualified person (QP) responsible for the Brucejack project exploration program.

We seek Safe Harbor.