Pretium Resources Inc. [PVG-TSX, NYSE] is continuing to intersect high-grade gold mineralization in Phase 2 of the North Block resource expansion drill program at the 100%-owned Brucejack Mine in the Golden Triangle of northwest British Columbia.
Following up on the success of the Phase 1 drill program) Pretivm initiated a second phase of drilling to test the extension of the North Block Zone to the northwest. The Phase 2 program identified high-grade gold mineralization with five intersections assaying above 1,000 g/t gold. Results include drill hole VU-2933 which assayed 561.6 g/t gold over 15.0 metres, including 8,400 g/t gold over 1.0 metre.
In addition, drill hole VU-2932 assayed 306.6 g/t gold over 19.5 metres, including 5,910 g/t gold over 1.0 metre. High-grade gold mineralization was intercepted up to 450 metres from the current resource shell.
“These impressive results confirm high-grade gold mineralization in the North Block Zone and further extend the potential of the Valley of the Kings deposit at Brucejack,” said Jacques Perron, President and CEO. “Based on the success of the second phase, we have initiated a third and fourth phase of the drill program to further delineate the potential of the North Block Zone.”
The North Block Zone is located directly to the north of the Valley of the Kings deposit. The resource expansion exploration program is designed to test for Valley of the Kings style mineralization to the north and at depth. Phase 2 of the program was drilled from the 1150 and 1070 levels in the mine, targeting an area extending up to 450 meters north of the current resource shell. Phase 3 of the program will infill between the existing drill fans and the newly designed Phase 4 of the program will test an area immediately to the northwest of the current drilling.
Significant drill results
Hole VU-2933 intersected 561.6 g/t gold over 15.0 metres, including 8,400 g/t gold and 4,900 g/t silver over 1.0 metres. Hole VU-2932 intersected 306.6 g/t gold over 19.5 metres, including 5,910 g/t gold and 3,400 g/t silver over 1.0 metres.
Hole VU-2962 intersected 191.6 g/t gold over 14.0 metres, including 1,795 g/t gold and 1,375 g/t silver over 1.0 metre. Hole VU-2859 intersected 31.6 g/t gold over 51.0 metres, including 1,515 g/t gold over 1.0 metre.
Hole VU-2967 intersected 61.7 g/t gold over 17.5 metres, including 993 g/t gold over 1.0 metre.
The resource expansion drill program is currently targeting the North Block Phase 3 and Phase 4 and the 1080 East Zone. In early July, two drills from underground will be repositioned to complete a 13,000-metre resource expansion drill program at Gossan Hill from surface. At the Bridge Zone, 11,000-metres of underground resource expansion drilling is expected to start in late August.
The near-mine exploration program is expected to start in mid-June with two additional drills on surface. The program will focus first on exploration targets at Shore Zone and SG Zone. Then, to follow up on the successful discovery of epithermal style gold mineralization at Hanging Glacier, a 10,000-metre drill program will start in late July.
The near-mine exploration program will also include a UAV magnetic survey, MT and IP geophysical surveys, soil sampling and prospecting over the 4-km trend from Brucejack to Hanging Glacier.
In June 15 trading, Pretium shares gained $0.19 to $13.14 on a volume of 461,300.