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Pretium drills below Valley of the Kings


Last updated 7/19/2019 at 5:59am

High grade gold exploration Golden Triangle northwest British Columbia

Pretium Resources Inc.

Pretium's 2019 exploration includes at least 5,000 meters of grassroots exploration drilling at Bowser, claims immediately south of the Brucejack Mine property.

Pretium Resources Inc. July 9 said initial observations from a third hole drilled as part of a 2019 deep underground exploration program continue to indicate that the style of high-grade gold mineralization currently being mined at its Brucejack underground operation in northwestern British Columbia extends below the Valley of the Kings.

In June, the company reported that two long holes drilled from the underground workings at Brucejack confirmed the presence of Brucejack-style mineralization extended from the eastern edge of Valley of the Kings, the high-grade gold deposit currently being mined, to beneath Flow Dome, a gold zone about 1,000 meters east.

Surface drilling encountered bonanza grade gold at Flow Dome in 2015. Highlights from that program include 2.05 meters of 2,100 grams (67.52 ounces) per metric ton gold in hole SU-688.

Holes VU-820 and VU-911, each more than 1,500 meters long, tested mineralization continuity between Valley of the Kings and Flow Dome, while assessing the potential for a porphyry source at depth.

Hole VU-820, drilled 1,584 meters east at a minus-50-degree angle from the 1200 level at Valley of the Kings, encountered Brucejack-style gold in several areas.

Highlighted intercepts in VU-820 included 90.21 meters of 1.71 g/t gold, starting 442 meters east of Valley of the Kings. At 1,128 meters, the drill cut 1 meter of 46 g/t gold.

Hole VU-911, drilled 1,555 meters east at a steeper minus-65-degree angle, cut visible gold in several locations along its length.

The first visible gold was observed in a 0.9-meter intersection at 105.4 meters that averaged 157 g/t (5 oz/t) gold. Other highlights from VU-911 include: 1.5 meters of 142 g/t gold at 151.5 meters; 0.5 meters of 76.3 g/t gold at 161.5 meters; and 0.5 meters of 33.6 g/t gold at 802.29 meters.

Silver was also encountered in all the intercepts in both holes, include 1,825 g/t (58.68 oz/t) silver from 802.9 meters in VU-911.

Following the success of this drilling, Pretium added a third deep hole, VU-2019, to test both the extent of Brucejack-style mineralization and the porphyry potential directly below the Valley of the Kings deposit.

Hole VU-2019, which is planned to reach a length of 2,000 meters, is targeting the center of a low resistivity anomaly approximately 1,400 meters below the Valley of the Kings deposit as identified from a CSMT (controlled source magnetotelluric) geophysical program.

As of June 9, VU-2019 was roughly 50 percent complete, and an update will be provided following the receipt of all assay results and further evaluation.

Building reserves

As the deep hole program tests resource expansion targets below and to the east of Valley of the Kings, a 70,000-meter underground drill program is expected to better define and expand on the current mineral reserves of this high-grade gold project.

Pretium said there are opportunities to expand the Valley of the King reserves to the west, east, northeast and to depth.

The first phase of this drill program, focused on reserve definition below the 1200-meter level, is approximately ninety percent complete. The second phase, focusing on reserve definition westward towards the Brucejack fault, is slightly more than halfway complete.

Underground development is underway to provide access for the third and fourth phases of the drill program targeting reserve expansion at depth and to the east of the reserves.

Exploring Bowser

Pretium's 2019 exploration also includes a grassroots program on Bowser, claims immediately south of the Brucejack Mine property.

The program, which includes at least 5,000 meters of drilling, will evaluate several distinct areas of the Bowser claims that have the potential to host Eskay Creek-style volcanogenic massive sulfide (VMS) deposits and high-grade, epithermal-related gold systems.

Two drills are currently testing the high-priority VMS targets on the northern and central parts of the property. A third drill will be mobilized to site in mid-July to begin testing epithermal targets on the southern part of the property.

In addition to drilling, the grassroots exploration program includes sampling, mapping, prospecting and geophysics.



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