Pretium Resources plans to drill 24,000 m at Brucejack
2012-02-23 07:56 ET - News Release
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Mr. Robert Quartermain reports
PRETIUM RESOURCES INC.: BRUCEJACK PROJECT UPDATE
Pretium Resources Inc. has provided the following update on the progress of activities now under way at its Brucejack high-grade gold project in Northern British Columbia.
Feasibility study and resource model
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 using multiple-indicator kriging estimation for the high-grade gold and silver resources identified to date in the Valley of the Kings and West zones. The feasibility study is expected to be completed by year-end.
Exploration
An initial program of 24,000 metres of surface infill drilling is planned to commence by the end of February in the Valley of the Kings zone. The drilling will be focused on the mineralization to be mined in the first 12 years as contemplated in the Feb. 20, 2012, updated preliminary economic assessment, 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. Inferred mineral resources at the Valley of the Kings currently total 3.23 million ounces of gold at an average grade of 26.89 grams per tonne (see the technical report and updated preliminary economic assessment of the Brucejack project dated Feb. 20, 2012, filed on SEDAR).
