The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
PVG: TSX
President and CEO: Robert Quartermain
Chief Development Officer: Joseph Ovsenek,
Chief Exploration Officer: Kenneth McNaughton
Pretium Resources Inc. is focused on reaching commercial production at its high-grade Brucejack gold-silver project by 2016.
Located 65 kilometers (40 miles) north-northwest of Stewart, B.C is part of a largely unexplored land package of more than 103,000 hectares (254,518 acres).
The Valley of the Kings deposit at Brucejack contains 15.3 million metric tons of measured and indicated resources averaging 17.6 grams per metric ton (8.7 million ounces) gold and 5.9 million metric tons of inferred resources averaging 25.6 g/t (4.9 million oz) gold, according to a resource updated in December.
An updated feasibility study completed in June, describes a 2,700-metric-ton-per-day mine at Brucejack producing 7.3 million oz of gold over an 18-year mine life, or about 404,000 oz of gold per year.
A 1,000-metric ton bulk sample collected from the Valley of the Kings in February produced 3,120 oz of gold.
Another 1,000-metric-ton sample has been permitted and is expected to be collected later in 2014.
This year's exploration at Brucejack started with a 5,000-meter surface program targeting a deep zone of the indicated and inferred mineral resources in the Valley of the Kings.
This drilling includes hole SU-632-W4, which cut 335.65 g/t gold over 2.10 meters, including 4,130 grams of gold uncut over 0.80 meters in the western part of the Valley of the Kings.
Roughly 15,000 meters of underground drilling in the Valley of the Kings is slated to begin upon the completion of a water treatment plant towards the end of 2014.
Pretium also owns the Snowfield project, a longer term bulk tonnage project to the north of Brucejack. Snowfield hosts 1.37 billion metric tons of measured and indicated resources containing 25.9 million oz of gold, 75.8 million oz of silver, 2.98 billion pounds of copper, 258.3 million lbs of molybdenum and 22.5 million oz of rhenium. The project also has considerable resources reporting to the inferred category. Pretium maintains a confidentiality and cooperation agreement with Seabridge Gold, whose KSM project shares a common boundary with Snowfield. Under the agreement the companies have studied the potential of combining Snowfield and KSM into one operation.
Cash and short-term deposits: C$19.7 million (June 30, 2014)
Working capital: C$22.7 million (June 30, 2013; raised US$49.5 million July 29, 2014)
Market capitalization: C$601.9 million (Sept. 30, 2014)
1600 - 570 Granville Street
Vancouver, B. C.
Canada V6C 3P1
Tel: 604-558-1784
Fax: 604-408-8893
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