Here is an interesting tidbit about a high grade hit over the usual very narrow widths in
lotus land. They don't say what camp it is in. This to me is the first thing you look at for
character.
A high grade vein in the Kootenays is altogether different potential to a Bralorne
camp vein, or an Eskay Creek Area vein .
For the record it is Eskay Creek, Stewart area. Their nearby Snowfield property is a large low
grade copper, silver gold thingie. It's gold values ain't bad. In the 0.5 gram to 2.6 gram
range. Average around 0.55 gms. Silver is about 1.7 grams. Copper is around 0.10%. Not high. A
$9.85 stock. Will they get mill money? hmmmmmm dunno. Is it another Pebble? As big as the sky
and nobody knows where to put it.
They talk about an already established resource of low grade of 34 million ounces. ..... haven't
been following this at all.
The Brucejack, which is the high grade thingie is adjacent to the large, low grade Snowfield.
They are talking about them in one breath, but they are much different opportunities with
different paths to, and chances of production.
EC<:-}
***********************************************************************************************
Vancouver, BC - 07/27/11 -- Pretium Resources Inc., PVG/TSXV, is pleased to report that drill results
from its Brucejack Project continue to demonstrate the continuity of high-grade gold mineralization in
the Valley of the Kings Zone, and drilling has also identified at least one high-grade gold
structure in the Gossan Hill Zone. (See Table 1 for the 2011 results from all zones drilled to
date.)
Valley of the Kings Zone
The Valley of the Kings Zone hosts several high grade structures, with mineralization now
defined over a length of 400 meters extending from surface to depths of 600 meters below
surface. The mineralization remains open at depth and to the east. Visible gold continues to
be encountered, generating bonanza-grade intercepts.
Selected drill highlights include:
- Hole SU-130 intersected 0.5 meters with uncut grades of 656 grams of gold and 378 grams of
silver per tonne (1.6 feet averaging 19.1 ounces gold and 11.0 ounces of silver per ton);
-- Hole SU-132 intersected 0.5 meters with uncut grades of 4,060 grams of gold and 1,660 grams
of silver per tonne (1.6 feet averaging 118.4 ounces gold and 48.4 ounces of silver per ton);
-- Hole SU-135 intersected 0.5 meters with uncut grades of 1,070 grams of gold and 255 grams
of silver per tonne (1.6 feet averaging 31.2 ounces gold and 7.4 ounces of silver per
ton).
Drilling at Valley of the Kings Zone is ongoing, with drill hole spacing now being tightened to
25-meter centres. This drill spacing was chosen based on statistical analysis of previous
drilling as the minimum required to increase the confidence of these resources. The Valley of
the Kings Zone will also be tested for high-grade gold at depth later in the season. The Valley
of the Kings Zone is located 500 meters southwest of West Zone.
Gossan Hill Zone
The Gossan Hill Zone is located 300 meters north of the West Zone. This year's drilling has
encountered high-grade gold as well as significant values over broad widths. Drilling indicates
that Gossan Hill has the potential to host several high grade structures associated with
broader envelopes of bulk tonnage mineralization. Highlights include holes SU-136 and
SU-147:
-- Hole SU-136 intersected 0.8 meters with uncut grades of 1,550 grams of gold and 836 grams of
silver per tonne (2.6 feet averaging 45.2 ounces gold and 24.4 ounces of silver per ton), and
1.0 meters with uncut grades of 1,280 grams of gold and 1,050 grams of silver per tonne (3.3
feet averaging 37.3 ounces gold and 30.6 ounces of silver per ton);
-- Hole SU-147 intersected 7.9 meters with grades of 16.4 grams of gold and 10.4 grams of
silver per tonne (25.9 feet averaging 0.5 ounces gold and 0.3 ounces of silver per ton), and 3.0
meters with grades of 35.5 grams of gold and 16.1 grams of silver per tonne (9.8 feet averaging
1.0 ounces gold and 0.5 ounces of silver per ton).
Definition drilling at 50-meter spacings is now underway at Gossan Hill to expand and confirm
the continuity of the mineralization intersected in these two drill holes, as well as to test
other potential high-grade structures.
A drill program of over 70,000 meters now in progress on the Brucejack Project is focused on
tightening the drill spacing to increase the level of confidence to move Inferred mineral resources
to Measured and Indicated mineral resource categories, improving knowledge of the continuity of the
high-grade mineralization for the Valley of the Kings and other high-grade zones, and
delineating new high-grade resources. The program will also test new exploration targets along
the length of the six-kilometer Brucejack Fault trend, from south of the Bridge Zone up to the
southern limit of the Snowfield Zone.
Assay results for completed drilling will be reported as they are received over the course of
the 2011 drilling season.
Table 1: Selected Brucejack Project Drill Results, July 2011 (Holes SU-129 to SU-148)(1)
---------------------------------------------------------------------------
Hole Collar Dip/ From To Interval Gold Silver Capping No
Coords Azimuth (m) (m) (m) (g/t) (g/t) (2)
---------------------------------------------------------------------------
Valley of the Kings Zone
---------------------------------------------------------------------------
SU-129 6258015N -57/
426455E 180 43.5 72.0 28.5 2.5 9.9
---------------------------------------------------------------------------
Incl 63.5 65.3 1.8 18.7 16.5
---------------------------------------------------------------------------
SU-130 6257931N -50/
426506E 360 91.5 114.0 22.5 0.9 13.9
---------------------------------------------------------------------------
134.46 134.96 0.5 656.0 378.0 uncut
---------------------------------------------------------------------------
***
(1) True thickness to be determined.
(2) All gold assays over 130 g/t were cut to 130 g/t and all silver assays over 2,100 g/t were
cut to 2,100 g/t.
All samples were submitted for preparation and analysis by ALS Chemex at its facilities in
Terrace, B.C. All samples were analyzed using multi-digestion with ICP finish. Samples over 100
ppm silver were reanalyzed using four acid digestion with an ore grade AA finish. Samples over
1,000 ppm silver were fire assayed with a gravimetric finish. Samples with over 10 ppm gold
were fire assayed with a gravimetric finish. One in 10 samples was blank, one in 20 was a
standard sample, and differing one in 20 samples was a field duplicate one-quarter split core
assayed at ALS Chemex in Vancouver, B.C.
Kenneth C. McNaughton, M.A.Sc., P.Eng., Chief Exploration Officer, Pretium Resources Inc. is
the Qualified Person (QP) responsible for the Brucejack Project exploration program.
About Pretivm
Pretivm is creating value through gold at its advanced-staged exploration projects Brucejack
and Snowfield, located in northern British Columbia. Pretivm is advancing the high-grade,
underground gold opportunity at Brucejack and the open pit opportunities at both Brucejack and
Snowfield. The combined bulk tonnage resource at Brucejack and Snowfield, one of the largest in
North America, comprises over 34 million ounces of measured and indicated gold resources and 22
million ounces of inferred gold resources; and 192 million ounces of measured and indicated
silver resources and 202 million ounces of inferred silver resources. Details on the mineral
resources at Pretivm's Brucejack and Snowfield projects are available at pretivm.com.
Forward Looking Statement
This Press Release contains "forward-looking information" within the meaning of applicable
Canadian securities legislation. Forward-looking information may include, but is not limited
to, information with respect to our plans, costs and timing for future exploration (including
updated resource estimates) and development activities, results of future exploration, timing
and receipt of approvals, consents and permits under applicable legislation, production and
developments in our operations in future periods and adequacy of financial resources. Wherever
possible, words such as "plans", "expects" or "does not expect", "budget", "scheduled",
"estimates", "forecasts", "anticipate" or "does not anticipate", "believe", "intend" and
similar expressions or statements that certain actions, events or results "may", "could",
"would", "might" or "will" be taken, occur or be achieved, have been used to identify forward-
looking 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 (often, but not always, using words or phrases such
as "expects", "anticipates", "plans", "projects", "estimates", "assumes", "intends",
"strategy", "goals", "objectives", "potential" or variations thereof, or stating that certain
actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be
achieved, or the negative of any of these terms and similar expressions) 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 final
short-form prospectus dated April 4, 2011 filed on SEDAR at httttwww.sedar.com. 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.
Pretium Resources Inc.
Robert Quartermain
President and Chief Executive Officer
604-558-1784
Pretium Resources Inc.
Michelle Romero
Investor Relations Director
604-558-1784
invest@pretivm.com
pretivm.com
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