CST: 30/08/2016 17:31:18   

Pretium Resources Inc.: Valley of the Kings Infill Drilling Intersects 20,000 Grams Per Tonne Gold

231 Days ago

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 12, 2016) - Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm" or the "Company") is pleased to report a fifth set of results from the underground infill drill program at the Brucejack Project's Valley of the Kings. Results continue to confirm the style and grade distribution of the Valley of the Kings gold mineralization in the area currently being tested, which includes the intersection of high grade and visible gold. Reported assays include seven intersections grading greater than 1,000 grams per tonne gold. (See Table 1 below for assays.)

Selected drill highlights include:

  • Hole VU-545 intersected 494.91 grams of gold per tonne uncut over 21.00 meters, including 20,287 grams of gold per tonne uncut over 0.50 meters;
  • Hole VU-539 intersected 477.29 grams of gold per tonne uncut over 14.22 meters, including 10,700 grams of gold per tonne uncut over 0.50 meters and 2,710 grams of gold per tonne uncut over 0.50 meters;
  • Hole VU-537 intersected 98.52 grams of gold per tonne uncut over 18.99 meters, including 3,200 grams of gold per tonne uncut over 0.50 meters;
  • Hole VU-553 intersected 31.17 grams of gold per tonne uncut over 29.00 meters, including 1,535 grams of gold per tonne uncut over 0.50 meters; and
  • Hole VU-555 intersected 60.13 grams of gold per tonne uncut over 28.00 meters including 1,250 grams of gold per tonne uncut over 0.50 meters, and 2,090 grams of gold per tonne uncut over 0.50 meters.

Holes VU-537, VU-539, VU-553, VU-545 and VU-555 were drilled from the 1270 drill bay. The bonanza-grade interval from hole VU-545 noted above was intersected at the 1225 level.

For a plan and section views of the reported drill fans please see the following link: http://media3.marketwire.com/docs/pvg0112map.pdf.

To date, results from 149 holes (26,833 meters) of the 2015 infill drill program for the Valley of the Kings have been reported with 25 intersections grading greater than 1,000 grams per tonne gold. An additional 26,000 meters of definition drilling from four underground drill stations is in progress and is expected to be completed in the first-quarter of 2016. When completed, roughly 200 vertical meters over a strike length of 250 meters will have been drilled at 7.5 to 10-meter centers. Assay results from drilling will continue to be reported as they are received.

Table 1: Selected Valley of the Kings Drill Results, January 2016 (VU-500 to VU-559)(1), (2), (3)

Hole
No.
Dip/
Azimuth
From
(meters)
To
(meters)
Interval
(meters)
Gold
(g/t)
Silver
(g/t)

Comments
1310 m Drill Bay - 426,522E/6,258,139N - 182 Azimuth
VU-501 -38/182 10.00 13.00 3.00 17.47 14.65
incl 10.00 11.00 1.00 51.10 16.30
155.00 159.00 4.00 9.37 8.90
incl 158.00 159.00 1.00 24.60 17.50
VU-503 -28/182 12.00 12.91 0.91 8.00 28.20
74.00 75.00 1.00 14.15 20.40
VU-504 -23/182 107.00 108.23 1.23 14.21 9.20
144.73 145.23 0.50 29.00 31.80
VU-507 -18/182 87.00 88.00 1.00 22.10 19.90
134.00 137.00 3.00 8.39 12.53
incl 135.00 136.00 1.00 19.55 18.80
192.00 196.00 4.00 6.68 17.08
VU-520 -33/182 41.00 45.00 4.00 78.90 55.10
incl 42.00 43.00 1.00 312.00 189.00
133.25 152.17 18.92 10.21 11.08
incl 133.25 133.75 0.50 313.00 192.00
incl 141.15 141.65 0.50 14.75 13.60
incl 141.65 142.20 0.55 12.35 12.30
VU-523 -13/182 7.00 11.00 4.00 5.55 13.95
incl 7.00 8.00 1.00 13.15 19.90
81.00 82.00 1.00 30.60 15.50
141.00 147.00 6.00 10.35 22.58
incl 141.00 142.00 1.00 18.00 34.90
incl 146.00 147.00 1.00 33.40 45.50
VU-527 -8/182 50.80 51.30 0.50 12.10 22.40
64.00 68.00 4.00 25.13 32.71
incl 64.00 64.75 0.75 17.50 15.70
incl 64.75 65.25 0.50 171.00 88.60
93.10 93.60 0.50 11.90 6.70
101.00 102.00 1.00 22.60 13.60
VU-531 -3/182 106.20 112.00 5.80 15.12 11.67
incl 106.20 106.70 0.50 22.20 10.00
incl 111.00 112.00 1.00 75.40 43.40
155.00 165.80 10.80 11.55 15.13
incl 159.78 160.28 0.50 231.00 159.00
1320 m Drill Bay - 426,586E/6,258,093N - 177 Azimuth
VU-500 -47.5/177 27.27 27.77 0.50 12.80 5.80
138.00 139.00 1.00 8.89 8.30
VU-502 -42.5/177 30.86 41.60 10.74 21.75 29.51
incl 39.92 40.42 0.50 448.00 183.00
83.26 96.00 12.74 8.28 15.06
incl 95.00 96.00 1.00 91.00 95.40
VU-505 -37.5/177 73.00 94.00 21.00 18.20 17.19 1 sample cut
or 73.00 94.00 21.00 19.91 17.19 Uncut
incl 74.24 74.74 0.50 15.30 5.90
incl 87.63 88.13 0.50 612.00 260.00
incl 91.33 91.83 0.50 116.00 120.00
incl 92.33 92.83 0.50 46.80 42.50
VU-506 -32.5/177 13.00 14.00 1.00 6.48 4.70
VU-508 -27.5/177 149.00 150.00 1.00 14.20 13.50
VU-509 -22.5/177 148.00 149.00 1.00 7.61 4.20
VU-512 -17.5/177 110.06 114.32 4.26 15.73 8.61
incl 110.06 110.56 0.50 44.00 10.40
incl 111.08 111.58 0.50 43.20 20.90
incl 113.82 114.32 0.50 44.80 13.40
VU-514 -12.5/177 85.00 86.00 1.00 47.60 31.00
114.00 120.00 6.00 7.35 7.22
incl 114.00 115.00 1.00 17.15 12.40
incl 119.00 120.00 1.00 21.30 11.10
152.00 153.00 1.00 13.80 6.40
VU-516 -7.5/177 100.20 100.52 0.32 13.05 4.90
128.00 129.00 1.00 11.25 13.10
VU-519 -57.5/177 36.32 50.40 14.08 9.08 8.59
incl 36.32 36.82 0.50 67.10 26.80
incl 40.77 41.27 0.50 74.30 34.60
incl 46.34 46.84 0.50 23.70 19.90
incl 49.90 50.40 0.50 25.00 20.00
178.19 178.69 0.50 66.20 73.10
VU-521 -62.5/177 42.00 51.00 9.00 19.08 11.07
incl 47.27 47.88 0.61 269.00 114.00
141.00 162.50 21.50 12.52 10.91
incl 161.09 161.59 0.50 501.00 326.00
1270 m Drill Bay - 426,666E/6,258,075N - 141 Azimuth
VU-511 -30/141 96.00 100.00 4.00 16.71 534.43
incl 96.00 97.00 1.00 59.10 1,830
189.66 191.14 1.48 11.83 180.59
incl 190.50 191.14 0.64 21.00 352.00
202.00 203.00 1.00 10.60 202.00
VU-515 -25/141 232.00 233.00 1.00 5.49 249.00
VU-518 -20/141 197.00 198.00 1.00 9.04 151.00
VU-522 -15/141 15.85 16.35 0.50 153.50 98.00
VU-530 0/141 92.00 93.00 1.00 30.70 21.70
157.72 162.00 4.28 8.08 35.58
incl 161.00 162.00 1.00 29.00 33.30
VU-533 5/141 123.00 145.00 22.00 21.11 24.03
incl 132.00 133.00 1.00 156.50 149.00
incl 133.00 134.00 1.00 263.00 145.00
incl 141.14 141.64 0.50 33.10 48.70
VU-536 12.5/141 156.78 157.38 0.60 19.95 837.00
VU-537 27.5/141 122.01 141.00 18.99 28.44 63.97 1 sample cut
or 122.01 141.00 18.99 98.52 63.97 Uncut
incl 133.03 133.53 0.50 3,200 1,940
incl 134.96 135.47 0.51 91.30 96.80
incl 137.15 137.70 0.55 60.60 25.80
incl 139.00 140.00 1.00 155.50 62.50
1320 m Drill Bay - 426,586E/6,258,093N - 183 Azimuth
VU-524 -59/183 10.00 11.00 1.00 11.85 13.10
120.00 123.00 3.00 7.60 5.37
incl 122.00 123.00 1.00 14.45 4.50
VU-526 -51.5/183 87.00 110.00 23.00 13.35 26.17 1 sample cut
or 87.00 110.00 23.00 17.52 26.17 Uncut
incl 108.78 109.28 0.50 732.00 449.00
158.00 165.00 7.00 25.58 16.90
incl 162.00 163.00 1.00 126.50 69.40
incl 163.00 164.00 1.00 48.10 35.70
VU-529 -45/183 42.41 47.24 4.83 7.34 9.72
incl 42.41 42.91 0.50 24.10 21.40
incl 45.10 46.24 1.14 11.35 14.80
incl 46.74 47.24 0.50 10.75 13.60
116.00 117.00 1.00 21.80 43.20
150.67 152.00 1.33 16.90 14.20
VU-532 -35/183 14.60 18.58 3.98 69.53 53.25 1 sample cut
or 14.60 18.58 3.98 96.42 53.25 Uncut
incl 18.08 18.58 0.50 754.00 230.00
151.52 152.02 0.50 34.50 15.70
169.00 178.00 9.00 57.16 87.15
incl 175.00 176.00 1.00 111.00 264.00
incl 176.00 177.00 1.00 393.00 449.00
VU-535 -30/183 1.70 2.20 0.50 27.20 10.10
VU-548 -25/183 125.71 126.21 0.50 61.30 29.40
VU-550 -20/183 97.00 98.00 1.00 9.17 5.30
120.00 121.00 1.00 28.90 25.30
VU-552 -15/183 11.00 18.00 7.00 20.57 33.92
incl 12.58 13.08 0.50 268.00 203.00
97.00 115.26 18.26 18.07 14.45
incl 97.00 98.00 1.00 66.40 35.80
incl 114.76 115.26 0.50 494.00 310.00
VU-554 -10/183 11.96 12.46 0.50 62.80 33.10
100.50 113.00 12.50 27.84 16.21
incl 100.50 101.00 0.50 441.00 82.90
incl 112.00 113.00 1.00 118.00 67.80
1270 m Drill Bay - 426,662E/6,258,075N - 202 Azimuth
VU-538 -23/202 58.25 58.81 0.56 516.00 225.00
VU-539 -16/202 85.78 100.00 14.22 44.01 211.70 2 samples cut
or 85.78 100.00 14.22 477.29 211.70 Uncut
incl 88.90 89.40 0.50 2,710 1,455
incl 90.60 91.10 0.50 10,700 3,860
incl 94.80 95.30 0.50 76.50 96.40
VU-540 -2/202 68.74 70.00 1.26 11.90 9.80
74.49 74.99 0.50 14.95 48.80
86.00 87.00 1.00 33.10 26.80
VU-541 -9/202 35.40 46.00 10.60 16.01 9.21
incl 35.40 35.95 0.55 292.00 73.00
77.00 84.00 7.00 35.04 52.66
incl 81.76 82.31 0.55 346.00 268.00
incl 82.31 82.81 0.50 91.00 37.50
VU-542 5/202 62.00 63.00 1.00 8.56 12.20
incl 85.57 86.07 0.50 193.00 80.20
VU-543 12/202 67.00 72.00 5.00 16.89 17.44
incl 69.80 70.32 0.52 56.90 16.90
incl 70.85 71.35 0.50 99.80 46.10
1270 m Drill Bay - 426,662E/6,258,075 - 192 Azimuth
VU-544 -35/192 8.00 9.00 1.00 115.00 53.30
32.00 33.00 1.00 82.90 64.60
VU-545 -30/192 76.00 97.00 21.00 24.74 319.81 1 sample cut
or 76.00 97.00 21.00 494.91 319.81 Uncut
incl 81.68 82.18 0.50 20,287 13,009
incl 86.70 87.20 0.50 417.00 100.00
123.00 130.81 7.81 14.82 23.91
incl 129.27 129.77 0.50 205.00 137.00
VU-546 -25/192 112.20 123.76 11.56 13.32 10.52
incl 112.20 113.50 1.30 102.00 40.90
152.20 164.00 11.80 12.34 21.62
incl 153.42 153.92 0.50 186.00 159.00
incl 160.52 161.20 0.68 10.50 16.80
incl 161.20 162.00 0.80 32.00 60.20
VU-547 -20/192 107.76 108.26 0.50 13.65 25.00
119.24 119.74 0.50 43.00 31.10
176.00 181.00 5.00 54.92 58.22 1 sample cut
or 176.00 181.00 5.00 55.92 58.22 Uncut
incl 178.41 178.91 0.50 550.00 391.00
VU-549 -15/192 127.37 134.00 6.63 7.11 12.36
incl 127.37 127.87 0.50 61.60 36.60
incl 133.50 134.00 0.50 18.00 15.50
156.80 169.00 12.20 16.24 10.55
incl 156.80 157.30 0.50 375.00 163.00
VU-551 -10/192 36.32 36.82 0.50 40.80 32.90
VU-553 -5/192 81.00 110.00 29.00 14.01 19.82 1 sample cut
or 81.00 110.00 29.00 31.17 19.82 Uncut
incl 84.90 85.40 0.50 1,535 639.00
incl 93.30 93.80 0.50 59.60 47.10
incl 105.80 106.30 0.50 156.00 129.00
VU-555 0/192 104.00 132.00 28.00 19.78 42.98 2 samples cut
or 104.00 132.00 28.00 60.13 42.98 Uncut
incl 105.54 106.04 0.50 1,250 657.00
incl 129.62 130.12 0.50 2,090 1,415
165.80 166.30 0.50 34.80 23.10
VU-559 27.5/192 48.00 49.00 1.00 26.20 23.00
(1) True thickness to be determined.
(2) Unless otherwise indicated as uncut, all gold assays over 540 g/t were cut to 540 g/t.
(3) All samples were submitted for preparation and analysis by ALS Chemex at its facilities in Terrace, B.C. All samples were analyzed using multi-digestion with ICP finish and fire assay with AA finish for gold. Samples over 100 ppm silver were reanalyzed using four acid digestion with an ore grade AA finish. Samples over 1,500 ppm silver were fire assayed with a gravimetric finish. Samples with over 10 ppm gold were fire assayed with a gravimetric finish. One in 20 samples was blank, one in 20 was a standard sample, and one in 20 samples had a sample cut from assay rejects assayed as a field duplicate at ALS Chemex in North Vancouver, B.C. Whole core (core not split) is being assayed as part of the underground infill drill program.

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 constructing a high-grade underground mine at its Brucejack Project in northern British Columbia with commercial production targeted for 2017.

Pretium Resources Inc.
Suite 2300, Four Bentall Centre, 1055 Dunsmuir Street
PO Box 49334 Vancouver, BC V7X 1L4
(SEDAR filings: Pretium Resources Inc.)

Forward-Looking Statements

This News Release contains "forward-looking information" and "forward looking statements" within the meaning of applicable Canadian and United States securities legislation. Statements contained herein that are not based on historical or current fact, including without limitation statements containing the words "anticipates," "believes," "may," "continues," "estimates," "expects," and "will" and words of similar import, constitute "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking information may include, but is not limited to, information with respect to our planned exploration and development activities, the adequacy of Pretivm's financial resources, the estimation of mineral reserves and resources including the 2013 Valley of the Kings Mineral Resource estimate and the Brucejack Mineral Reserve estimate, realization of mineral reserve and resource estimates and 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", "targets" 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 reserve and 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 Annual Information Form dated March 31, 2015 filed on SEDAR at www.sedar.com and in the United States on Form 40-F 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.

Pretium Resources Inc.
Joseph Ovsenek
President
(604) 558-1784 or (877) 558-1784
Pretium Resources Inc.
Troy Shultz
Manager, Investor Relations & Corporate Communications
(604) 558-1784 or (877) 558-1784
invest@pretivm.com