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Message: Pretium Resources Inc.: Underground Exploration Drilling Intercepts Gold Mineralization at Depth; 2019 Grassroots Regional Exploration Commences

Pretium Resources Inc.: Underground Exploration Drilling Intercepts Gold Mineralization at Depth; 2019 Grassroots Regional Exploration Commences

posted on Jun 05, 2019 07:24AM

 

 
2019-06-05 05:01:30 AM ET (GlobeNewswire)
   
   

Pretium Resources Inc. (TSX/NYSE:PVG) ("Pretivm" or the "Company") reports that its 2019 deep underground exploration drilling program confirmed expectations for Brucejack-style mineralization and proximity to porphyry-style mineralization at depth and to the east of the Brucejack Mine, with 5.56 grams of gold per tonne intersected over 107.45 meters. (See Table 1 below for assays.)

Two deep holes totaling more than 3,500 meters were drilled toward the southeast and northeast under the Flow Dome Zone, an area approximately 1,000 meters east of the Brucejack Mine where drilling in 2015 intersected Valley of the Kings-style high-grade gold (see news release dated October 8, 2015). Holes VU-1785 and VU-1787, both of which encountered Brucejack-style, gold-silver bearing quartz carbonate stockwork, were drilled from the eastern edge of the 1110-meter level in the Valley of the Kings underground development.

Continuation of Brucejack-style Mineralization to the East

Of particular note, Hole VU-1787 intersected a zone of mineralized stockwork, including visible gold, extending over 107 meters (between 198 meters and 305 meters downhole) approximately 240 meters to the east and below the eastern limit of the existing Valley of the Kings Mineral Resource.

Selected drill highlights from Hole VU-1787 include:

-- 5.56 grams of gold per tonne over 107.45 meters (true width between 54 and 107 meters) which included:

° 185.50 grams of gold per tonne over 1.50 meters;

° 3.05 grams of gold per tonne over 0.50 meters;

° 6.48 grams of gold per tonne over 8.39 meters, including: 28.00 grams per tonne over 1.00 meter, 10.55 grams per tonne over 1.50 meters and 6.16 grams per tonne over 1.50 meters;

° 6.41 grams of gold per tonne over 19.50 meters, including: 8.42 grams per tonne over 4.50 meters, and 18.34 grams per tonne over 4.50 meters;

° 4.75 grams of gold per tonne over 1.50 meters; and,

° 72.80 grams of gold per tonne over 1.50 meters.

Hole VU-1785 was drilled 2,005 meters to the southeast at a -65 degree angle, and hole VU-1787 was drilled 1,536 meters to the northeast at a -60 degree angle.

For a section view of the reported holes please see the following link: http://ml.globenewswire.com/Resource/Download/b3c64a42-5203-400d-be56-8222ffe88738

Both holes were drilled in areas uninformed by previous drilling, confirming the potential extension of Brucejack-style mineralization at depth and to the east of the Brucejack Mine.

Exploration Drilling for Porphyry Source

Anomalous copper and molybdenum mineralization, indicative of a porphyry and similar to that noted in the 2018 deep exploration drilling (see news release dated June 18, 2018), was intersected at depth in both holes, extending between 1,850 meters and 2,005 meters in drill hole VU-1785 and between 1,270 meters and 1,535 meters in drill hole VU-1787. Additional geological and geochemical features, including changes in alteration, carbonate veining, pyrite zonation, and sphalerite composition, further support porphyry proximity vectoring beneath the Flow Dome Zone. Analyses of geological and geochemical samples collected from the drill core from both drill holes is in progress to further refine the vectoring process. A surface IP geophysical survey will be conducted this summer to augment the results of these analyses and generate targets for follow-up drilling, planned for 2019.

Warwick Board, Ph.D., P.Geo, Pr.Sci.Nat., Vice President, Geology and Chief Geologist, Pretium Resources Inc. is the Qualified Person ("QP") responsible for the Brucejack Mine exploration drilling and has reviewed and approved the scientific and technical information in this news release relating thereto.

Regional Grassroots Exploration

Crews have been mobilized to site in preparation for the 2019 grassroots exploration program on Pretivm's Bowser Claims to follow up on the comprehensive regional exploration that has previously been completed on the 1,250-square kilometer property that surrounds the Brucejack Mine. The grassroots exploration program includes 5,000 meters of regional exploration drilling set to commence in early July. In addition to drilling high-priority targets, the program will also include: sampling, regional mapping, prospecting, airborne geophysics, ground geophysics, and hyperspectral mapping. To date, the program has resulted in the identification of several distinct areas that have the potential to host Eskay Creek-style VMS deposits and high-grade, epithermal- related gold systems.

Kenneth C. McNaughton, M.A.Sc., P.Eng., Chief Exploration Officer, Pretium Resources Inc. is the QP responsible for the regional grassroots exploration program and has reviewed and approved the scientific and technical information in this news release relating thereto.

Table 1: Selected Exploration Drill Results, June 2019 (VU-1785 & VU-1787)
Hole                                                                                     Dip/    From     To       Interval Gold   Silver Comments
No.                                                                                      Azimuth (meters) (meters) (meters) (g/t)  (g/t)
VU-1785                                                                                  -65/150 118.50   120.00   1.50     1.46   6.20
                                                                                                 160.50   162.00   1.50     6.93   3.70
                                                                                                 220.50   222.00   1.50     8.07   9.20   Visible Gold
                                                                                                 472.50   475.50   3.00     0.90   1.30
                                                                                                 1,388.55 1,390.00 1.45     1.50   43.90
                                                                                                 1,481.00 1,482.50 1.50     1.36   101.00
                                                                                                 1,500.19 1,501.30 1.11     1.24   84.20
                                                                                                 1,801.50 1,803.00 1.50     3.56   1.60
                                                                                                 1,819.50 1,821.00 1.50     1.10   1.20
                                                                                                 1,827.00 1,828.50 1.50     4.24   4.00
VU-1787                                                                                  -60/070 198.50   306.00   107.50   5.56   8.41
                                                                                         Incl.   198.50   200.00   1.50     185.50 84.70  Visible Gold
                                                                                         Incl.   207.00   208.50   1.50     3.05   2.70
                                                                                         Incl.   221.77   222.19   0.41     1.60   142.00
                                                                                         Incl.   244.50   252.89   8.39     6.48   8.78
                                                                                         Incl.   244.50   245.50   1.00     28.00  45.10  Visible Gold
                                                                                         Incl.   245.50   247.00   1.50     10.55  1.90   Visible Gold
                                                                                         Incl.   251.39   252.89   1.50     6.16   9.30   Visible Gold
                                                                                         Incl.   265.50   267.00   1.50     6.41   22.03
                                                                                         Incl.   265.50   270.00   4.50     8.42   12.07
                                                                                         Incl.   277.50   282.00   4.50     18.34  47.17
                                                                                         Incl.   292.50   294.00   1.50     1.09   4.70
                                                                                         Incl.   301.50   306.00   4.50     26.04  9.90
                                                                                         Incl.   301.50   303.00   1.50     4.75   3.20
                                                                                         Incl.   304.50   306.00   1.50     72.080 16.50  Visible Gold
                                                                                                 343.50   345.00   1.50     2.23   3.00
                                                                                                 378.00   382.50   4.50     0.97   7.00
                                                                                                 405.00   406.50   1.50     1.48   4.00
                                                                                                 426.00   427.50   1.50     2.47   2.50
                                                                                                 429.00   430.50   1.50     1.13   16.10
                                                                                                 442.50   444.00   1.50     1.29   26.70
                                                                                                 495.00   496.50   1.50     9.91   2.40
                                                                                                 529.50   531.00   1.50     1.26   1.70
True thickness to be determined.
All samples were submitted for preparation and analysis by ALS Chemex at its facilities in Terrace, B.C. All samples were analyzed using multi-digestion with ICP finish and fire assay with AA finish for gold. Samples with over 10 ppm gold were fire assayed with a gravimetric finish. Samples over 100 ppm silver were reanalyzed using four acid digestion with an ore grade AA finish. Samples over 1,500 ppm silver were fire assayed with a gravimetric finish. One in 20 samples was a blank control sample, one in 20 samples was a standard control sample, and one in 20 samples was a half-core field duplicate. Half HQ core was assayed and the remainder stored on-site. ALS Chemex is independent of Pretivm.

About Pretivm

Pretivm is a low-cost intermediate gold producer with the high-grade gold underground Brucejack Mine.

For further information contact:
Joseph Ovsenek                   Troy Shultz
President & CEO                  Manager, Investor Relations &
                                 Corporate Communications

Pretium Resources Inc.

Suite 2300, Four Bentall Centre, 1055 Dunsmuir Street

PO Box 49334 Vancouver, BC V7X 1L4

(604) 558-1784

[email protected]

(SEDAR filings: Pretium Resources Inc.)

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