Pretium drills 34.5 metres of 93.4 g/t gold at Brucejack mine, BC, shares up

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Pretium Resources Inc. [PVG-TSX, NYSE] continues to intersect high-grade gold mineralization in phase 3 of the North block resource expansion drill program at the 100%-owned Brucejack mine in northwest British Columbia.

Phase 3 of the North block resource expansion drill program follows up on the high-grade gold intersected directly north of the Valley of the Kings deposit during phase 1 and phase 2 of the North block drill program.

Phase 3 results include seven intersections assaying above 1,000 g/t gold. High-grade gold mineralization was intercepted up to 450 metres from the current Valley of the Kings resource shell and up to 300 metres from the West zone resource shell.

One drill hole from each drill fan was extended to test the exploration potential north of the North block zone. These extended holes intersected stockwork veining and high-grade gold mineralization along trend from the West zone. An intersection from drill hole VU-3252 assayed 3,660.0 g/t gold over 1.0 metre at 330.5 metres downhole.

“These new drill results from the North block zone increase our confidence in the continuity of high-grade gold mineralization to the north of the Valley of the Kings deposit. An updated mineral resource estimate is expected to be released in the first half of next year and it will include the North block zone,” said Jacques Perron, president and CEO. “Phase 4 of the North block drilling program is currently under way to test the potential to the west of the first three phases of drilling.”

The North block zone is directly 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 3 of the program was drilled from the 1150 and 1070 levels in the mine, targeting an area extending up to 450 metres north of the current Valley of the Kings resource shell.

Phase 3 of the North block resource expansion program comprised 25,154 metres in 85 drill holes. Drilling from the 1150 level intersected the extension of the Domain 13 stockwork currently being mined in the Valley of the Kings. Drilling from the 1070 level intersected the recently identified corridor of gold mineralization in the footwall of the Domain 13 structure, featuring coarse electrum in northwest-oriented quartz-carbonate veins within a broader halo of lower-grade gold mineralization.

Hole VU-3042 intersected 93.4 g/t gold over 34.5 metres, including 3,140 g/t gold and 2,000 g/t silver over 1.0 metre. Hole VU-3241 intersected 133.7 g/t gold over 6.0 metres, including 3,590 g/t gold and 2,680 g/t silver over 1.0 metre.

Hole VU-3242 intersected 676.8 g/t gold over 7.0 metres, including 3,150 g/t gold and 1,870 g/t silver over 1.5 metres. Hole VU-3249 intersected 5.3 g/t gold over 13.5 metres, including 3,660 g/t gold over and 3,040 g/t silver over 1.0 metre. Hole VU-3255 intersected 493.2 g/t gold over 15.0 metres, including 7,360 g/t gold and 4,400 g/t silver over 1.0 metre.

In early trading, Pretium shares gained $.22 to $13.13 on a volume of 198,600 shares traded.

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