CST: 30/05/2016 09:28:16   

Valley of the Kings Infill Drilling Continues

83 Days ago

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 8, 2016) - Pretium Resources Inc. (TSX:PVG) (NYSE:PVG) ("Pretivm" or the "Company") is pleased to report a sixth 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 four intersections grading greater than 1,000 grams per tonne gold. (See Table 1 below for assays.)

Selected drill highlights include:

  • Hole VU-565 intersected 206.23 grams of gold per tonne uncut over 17.00 meters, including 6,980 grams of gold per tonne uncut over 0.50 meters;

  • Hole VU-568 intersected 82.01 grams of gold per tonne uncut over 31.00 meters, including 4,060 grams of gold per tonne uncut over 0.50 meters;

  • Hole VU-573 intersected 39.04 grams of gold per tonne uncut over 23.50 meters, including 1,075 grams of gold per tonne uncut over 0.62 meters;

  • Hole VU-599 intersected 36.12 grams of gold per tonne uncut over 19.56 meters, including 1,075 grams of gold per tonne uncut over 0.60 meters.

Holes VU-565 and VU-568 were drilled from the 1320 drill bay, hole VU-573 was drilled from the 1310 drill bay while hole VU-599 was drilled from the 1260 drill bay. To date results from 186 holes (33,206 meters) have been reported.

For a plan and section views of the reported drill fans please see the following link: http://media3.marketwire.com/docs/1045917a.pdf.

The 2015/2016 infill drill program is designed to target stope areas in years one through three of the current mine plan for the Valley of the Kings. The planned, drill program has been expanded to include extensions of Domain 20 which are adjacent to areas being mined in the early years of the 2014 Feasibility Mine Plan. Definition drilling from five underground drill stations is in progress and is expected to be completed in the second-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, March 2016 (VU-556 to VU-599)(1,2,3)
Hole
No.
Dip/
Azimuth
From
(meters)
To
(meters)
Interval (meters) Gold
(g/t)
Silver
(g/t)

Comments
1320 m Drill Bay - 426,586E/6,258,093N - 189 Azimuth
VU-556 -12.5/189 93.00 94.00 1.00 7.53 9.30
VU-558 -59/189 55.00 58.00 3.00 21.39 10.17
incl 57.00 58.00 1.00 58.00 16.30
VU-562 -47.5/189 47.00 48.00 1.00 10.00 11.70
89.00 90.00 1.00 8.57 8.00
VU-565 -42.5/189 70.00 87.00 17.00 16.82 79.57 - 1 sample cut to 540
or 70.00 87.00 17.00 206.23 79.57 - uncut
incl 85.39 85.89 0.50 6,980 2,420
134.94 135.44 0.50 16.45 16.10
VU-568 -37.5/189 18.00 18.98 0.98 18.10 21.10
72.00 103.00 31.00 22.54 45.06 - 2 samples cut to 540
or 72.00 103.00 31.00 82.01 45.06 - uncut
incl 73.13 73.63 0.50 4,060 1,710
incl 78.00 79.00 1.00 19.95 43.80
incl 87.30 87.80 0.50 138.00 116.00
incl 89.31 89.81 0.50 54.30 25.50
incl 93.72 94.22 0.50 707.00 208.00
156.00 157.00 1.00 23.70 17.50
VU-574 -32.5/189 165.00 166.00 1.00 5.18 36.50
VU-578 -27.5/189 175.00 176.00 1.00 22.30 23.30
VU-579 -22.5/189 136.26 136.76 0.50 18.40 3.00
161.92 163.00 1.08 19.40 39.10
VU-584 -17.5/189 155.00 165.15 10.15 14.24 12.08
incl 155.76 156.26 0.50 135.00 65.10
incl 159.33 159.83 0.50 122.50 63.60
1310 m Drill Bay - 426,521E/6,258,139N - 187 Azimuth
VU-510 -25/187 116.00 117.00 1.00 20.00 16.20
VU-513 -20/187 184.10 189.00 4.90 21.60 17.07
incl 184.10 184.60 0.50 202.00 124.00
VU-517 -15/187 1.00 6.00 5.00 24.32 20.04
incl 2.00 3.00 1.00 114.00 78.10
101.00 135.02 34.52 14.56 18.46 - 1 sample cut to 540
or 101.00 135.52 34.52 16.82 18.46 - uncut
incl 106.30 106.80 0.50 696.00 418.00
incl 106.80 108.00 1.20 59.90 41.20
incl 122.70 123.20 0.50 137.50 61.70
incl 134.40 135.02 0.62 71.50 299.00
VU-534 -10/187 68.00 69.00 1.00 9.79 12.50
129.00 130.00 1.00 8.12 9.00
VU-560 -40/187 67.07 67.57 0.50 86.60 98.60
126.00 139.00 13.00 7.80 8.35
incl 126.00 127.00 1.00 54.70 22.60
incl 138.00 139.00 1.00 38.10 11.20
VU-563 -35/187 120.00 133.00 13.00 22.37 15.21
incl 121.67 122.17 0.50 46.50 58.90
incl 127.83 128.33 0.50 180.50 164.00
incl 131.00 132.00 1.00 169.00 54.50
166.70 167.30 0.60 18.20 13.80
VU-566 -30/187 125.00 128.58 3.58 8.89 26.96
125.00 126.00 1.00 21.10 9.70
128.08 128.58 0.50 20.10 161.00
VU-569 -5/187 67.41 71.00 3.59 21.65 19.56
incl 67.41 67.91 0.50 46.20 83.70
incl 70.00 71.00 1.00 53.10 14.90
103.00 105.55 2.55 32.30 22.03
incl 105.00 105.55 0.55 128.50 76.70
VU-573 0/187 88.36 111.86 23.50 24.92 25.33 - 1 sample cut to 540
or 88.36 111.86 23.50 39.04 25.33 - uncut
incl 88.36 88.86 0.50 38.20 30.90
incl 91.22 91.84 0.62 1,075 634.00
incl 111.00 111.86 0.86 254.00 136.00
1270 m Drill Bay - 426,663E/6,258,075N - 185 Azimuth
VU-561 -32.5/185 158.11 171.10 12.99 11.08 11.94
incl 165.05 165.55 0.50 228.00 144.00
VU-564 -27.5/185 30.00 32.00 2.00 6.98 27.05
164.40 164.90 0.50 21.50 197.00
184.00 192.40 8.40 10.34 40.24
incl 184.64 185.80 1.16 56.90 133.00
VU-567 -22.5/185 9.00 11.00 2.00 137.88 143.03 - 1 sample cut to 540
or 9.00 11.00 2.00 197.13 143.03 - uncut
incl 9.50 10.00 0.50 777.00 560.00
106.06 111.00 4.94 18.79 15.97
incl 106.56 107.06 0.50 125.00 70.80
incl 107.06 107.56 0.50 29.90 30.00
124.75 125.25 0.50 46.70 19.30
VU-571 -17.5/185 98.00 125.25 27.25 17.06 22.25 - 1 sample cut to 540
or 98.00 125.25 27.25 19.85 22.25 - uncut
incl 100.79 101.50 0.71 28.60 38.10
incl 102.93 103.43 0.50 140.50 70.30
incl 103.43 103.93 0.50 34.20 24.20
incl 104.43 104.93 0.50 692.00 638.00
incl 124.05 124.55 0.50 97.50 30.70
VU-575 -12.5/185 114.00 134.50 20.50 10.41 9.68
incl 114.00 115.00 1.00 18.00 7.60
incl 126.33 126.83 0.50 15.15 33.20
incl 134.00 134.50 0.50 339.00 194.00
VU-581 -7.5/185 29.00 30.00 1.00 16.90 10.20
92.00 93.00 1.00 29.00 14.20
122.00 123.00 1.00 36.10 19.20
VU-585 5/185 38.15 38.65 0.50 214.00 74.40
VU-589 20/185 18.00 18.80 0.80 10.45 23.40
1260 m Drill Bay - 426,529E/6,258,018N - 170 Azimuth
VU-570 -38/170 35.96 36.46 0.50 14.75 36.00
VU-572 -31/170 149.00 150.00 1.00 6.37 5.70
VU-582 -17/170 19.73 20.23 0.50 23.30 29.70
29.00 30.00 1.00 30.60 55.80
1260 m Drill Bay - 426,529E/6,258,018N - 175 Azimuth
VU-590 -6/175 22.34 22.84 0.50 60.50 108.00
VU-597 -21/175 18.80 21.00 2.20 15.97 134.62
incl 19.30 19.80 0.50 64.10 470.00
VU-599 -28/175 21.00 40.56 19.56 19.71 47.57 - 1 sample cut to 540
or 21.00 40.56 19.56 36.12 47.57 - uncut
incl 21.77 22.37 0.60 1,075 949.00
incl 40.06 40.56 0.50 95.00 73.90
(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 gold mine at its Brucejack Project in northern British Columbia with commercial production targeted for 2017.

(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
Pretium Resources Inc.
Suite 2300, Four Bentall Centre, 1055 Dunsmuir Street
PO Box 49334 Vancouver, BC V7X 1L4
invest@pretivm.com