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2021-09-13

Resource Expansion Drilling Continues to Intersect High-Grade Gold Mineralization in the North Block Zone

VANCOUVER, British Columbia, Sept. 13, 2021 (GLOBE NEWSWIRE) -- Pretium Resources Inc. (TSX/NYSE: PVG) (“Pretivm” or the “Company”) today announced that it continues to intersect high-grade gold mineralization in Phase 3 of the North Block resource expansion drill program at the Brucejack Mine in British Columbia.

Phase 3 of the North Block resource expansion drill program was initiated to follow-up on the high-grade gold intersected directly to the north of the Valley of the Kings deposit during Phase 1 and Phase 2 of the North Block drill program (see news releases dated February 25, 2021 and June 15, 2021).

Phase 3 results include seven intersections assaying above 1,000 grams per tonne gold. Drill hole VU-3255 assayed 493.2 grams per tonne gold over 15.0 meters, including 7,360 grams per tonne gold over 1.0 meter. Drill hole VU-3242 assayed 676.8 grams per tonne gold over 7.0 meters, including 3,150 grams per tonne gold over 1.5 meter. High-grade gold mineralization was intercepted up to 450 meters from the current Valley of the Kings resource shell and up to 300 meters from the West Zone resource shell. (See Table 1 below for assays.)

One drill hole from each drill fan was extended to test the exploration potential to the 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 grams per tonne gold over 1.0 meter at 330.5 meters down hole.

“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 Chief Executive Officer of Pretivm. “Phase 4 of the North Block drilling program is currently underway to test the potential to the west of the first three phases of drilling.”

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 3 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 Valley of the Kings resource shell.

North Block – Phase 3 Results

Phase 3 of the North Block resource expansion program comprised 25,154 meters in 85 drill holes. Drilling from the 1150 Level intersected the extension of the Domain 13 Stockwork, which is 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.

For a plan and section view of the 2021 North Block Phase 3 program please see the following link: http://ml.globenewswire.com/Resource/Download/1031d3cf-1d7a-4512-bcab-bcd1901aa4a4.

Significant drill results are shown below:

  • Hole VU-3042 intersected 93.4 grams per tonne gold over 34.5 meters, including 3,140 grams per tonne gold and 2,000 grams per tonne silver over 1.0 meter.
  • Hole VU-3241 intersected 133.7 grams per tonne gold over 6.0 meters, including 3,590 grams per tonne gold and 2,680 grams per tonne silver over 1.0 meter.
  • Hole VU-3242 intersected 676.8 grams per tonne gold over 7.0 meters, including 3,150 grams per tonne gold and 1,870 grams per tonne silver over 1.5 meters.
  • Hole VU-3249 intersected 5.3 grams per tonne gold over 13.5 meters, including 3,660 grams per tonne gold over and 3,040 grams per tonne silver over 1.0 meter.
  • Hole VU-3255 intersected 493.2 grams per tonne gold over 15.0 meters, including 7,360 grams per tonne gold and 4,400 grams per tonne silver over 1.0 meter.

Stephanie Wafforn, P.Geo., Pretivm’s Resource Manager is the Qualified Person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects responsible for the Mineral Resource expansion drill program and has reviewed and approved the scientific and technical information in this news release related thereto.

Table 1: Selected North Block Phase 3 Results, September 2021 (VU-3038 to VU-3280)(1,2)

Hole No. Dip/ AzimuthFrom
(meters)
To
(meters)
Length
(meters)
Gold (g/t)Comments
Fan 1070W_L1_351
VU-304210/35137.5072.0034.5093.4 
 Incl56.5057.501.003,140 2,000 g/t silver
 And352.50354.001.5069.3 
Fan 1070W_L2_5
VU-3081-21/0050.006.006.0039.2 
 Incl2.504.502.00112.5 
VU-3084
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