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Pretivm to Receive PDAC Discovery Award for Valley of the Kings
By: Marketwired .
Dec. 11, 2012 04:05 PM
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/11/12 -- Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm") is very pleased to report that it has been selected to receive the Bill Dennis Award from the Prospectors & Developers Association of Canada ("PDAC") for advancing the Valley of the Kings at its high-grade gold Brucejack Project in northwest British Columbia. The 2013 PDAC Bill Dennis Award, which recognizes a Canadian discovery or prospecting success, will be awarded to Pretivm at the PDAC Annual Awards banquet on March 4, 2013 during the PDAC convention in Toronto.
The high-grade gold potential of Brucejack's Valley of the Kings was first discovered in 2009 with a drill hole that intersected 16,949 grams per tonne gold uncut over 1.5 meters. Pretivm began advancing the Valley of the Kings in 2011 and has drilled a total of 174,182 meters to date, with results from the Valley of the Kings continuously delivering significant high-grade gold intercepts, including visible gold.
High-grade gold resources (5.0 grams of gold equivalent per tonne cut-off) for the Valley of the Kings now total 8.5 million ounces of gold in the Indicated Mineral Resource category (16.1 tonnes grading 16.4 grams of gold per tonne) and 2.9 million ounces of gold in the Inferred Mineral Resource category (5.4 million tonnes grading 17.0 grams of gold per tonne). The Valley of the Kings remains open to the east and west along strike and at depth.
"We are honoured to receive the award from our peers, and thank PDAC for this recognition," commented Pretivm's CEO Robert Quartermain. "We have at Pretivm a dedicated team who are excited about the further potential for discovery at Brucejack, and the plans to advance the Valley of the Kings in the coming year.
Pretivm is creating value through gold at its high-grade gold Brucejack Project, located in northern British Columbia. Brucejack hosts a major undeveloped high-grade gold resource and mineralization remains open in all directions. A feasibility study for a high-grade underground mine in Brucejack's Valley of the Kings is underway and expected in the second quarter of 2013.
(SEDAR filings: Pretium Resources Inc.)
Forward Looking Statement
This News Release contains "forward-looking information" and "forward looking statements" within the meaning of applicable Canadian and United States securities legislation. Forward-looking information may include, but is not limited to, risks related to our planned exploration and development activities, the adequacy of Pretivm's financial resources, the estimation of mineral resources, realization of mineral resource estimates, 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" 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 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 prospectus supplement to the short form base shelf prospectus dated March 19, 2012 filed on SEDAR at www.sedar.com and in the United States 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.
The TSX has neither approved nor disapproved of the information contained herein.
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