EX-99.1 2 exhibit_99-1.htm NEWS RELEASE DATED MAY 31, 2016 Blueprint
 
 
 
EXHIBIT 99.1
 
May 31, 2016 
News Release 16-20
Valley of the Kings Infill Drilling Concludes with More High-grade Gold Mineralization
 
Vancouver, British Columbia May 31, 2016; Pretium Resources Inc. (TSX/NYSE:PVG) (“Pretivm” or the “Company”) is pleased to report the remaining results from the underground infill drill program at the Brucejack Project’s Valley of the Kings, including six intersections grading greater than 1,000 grams per tonne gold within long intervals of significant gold mineralization. (See Table 1 below for assays.) The 2015/2016 infill drill program was successful in confirming the style and grade distribution of the gold mineralization in the area that was tested. The results from the 2015/2016 infill drill program and a revised geological interpretation are being compiled and will be incorporated into an updated resource estimate for the Valley of the Kings.
 
Selected drill highlights include:
●
Hole VU-746 intersected 149.95 grams of gold per tonne uncut over 31.0 meters, including 9,200 grams of gold per tonne uncut over 0.50 meters;
●
Hole VU-749 intersected 69.66 grams of gold per tonne uncut over 23.3 meters, including 2,260 grams of gold per tonne uncut over 0.50 meters;
●
Hole VU-762 intersected 70.93 grams of gold per tonne uncut over 16.0 meters, including 2,140 grams of gold per tonne uncut over 0.50 meters;
●
Hole VU-696 intersected 50.31 grams of gold per tonne uncut over 17.0 meters, including 1,510 grams of gold per tonne uncut over 0.50 meters;
●
Hole VU-748 intersected 30.73 grams of gold per tonne uncut over 21.37 meters, including 1,245 grams of gold per tonne uncut over 0.50 meters; and,
●
Hole VU-756 intersected 21.07 grams of gold per tonne uncut over 33.0 meters, including 1,130 grams of gold per tonne uncut over 0.50 meters.
 
Holes VU-746 and VU-748 were drilled from the 1260-meter drill bay, holes VU-749 and VU-756 were drilled from the 1350-meter drill bay, hole VU-696 was drilled from the 1310-meter drill bay, while hole VU-762 was drilled from the 1270-meter drill bay while.
 
For a plan and section views of the reported drill fans please see below.
 
The 2015/2016 infill drill program was designed to target the stope areas in years one through three of the current mine plan for the Valley of the Kings. An area of roughly 200 vertical meters over a strike length of 250 meters has been drilled at 7.5 to 10-meter centers. A total of 63,444 meters in 364 drill holes returned 49 intersections grading greater than 1,000 grams of gold per tonne, including the bonanza-grade intercept in hole VU-722 which encountered 37,117 grams of gold per tonne uncut over 0.5 meters (see news release dated May 12, 2016).
 
 
1
 
 
Table 1: Selected Valley of the Kings Drill Results, May 2016 (VU-664 to VU-773)(1,2,3) 
Hole
No.
Dip/Azimuth
From
(meters)
To
(meters)
Interval (meters)
Gold (g/t)
Silver(g/t)
 
Comments
1310 m Drill Bay - 426,522E/6,258,139N - 204 Azimuth
VU-696
-32.5/204
105.00
122.00
17.00
21.78
20.85
1 sample cut
 
or
105.00
122.00
17.00
50.31
20.85
uncut
 
incl
105.88
106.38
0.50
183.00
159.00
 
 
incl
115.34
115.84
0.50
1,510
409.00
 
VU-702
-27.5/204
120.00
121.00
1.00
23.80
25.40
 
 
 
171.00
172.00
1.00
11.60
8.10
 
VU-708
-22.5/204
115.50
132.00
16.50
15.20
16.59
 
 
incl
115.50
116.00
0.50
42.00
23.40
 
 
incl
119.12
119.62
0.50
412.00
268.00
 
 
 
182.99
183.49
0.50
19.45
19.80
 
VU-718
-17.5/204
120.14
120.64
0.50
62.60
37.90
 
 
 
173.00
174.00
1.00
9.32
32.40
 
VU-723
-12.5/204
109.96
124.00
14.04
14.84
15.16
 
 
incl
109.96
110.46
0.50
125.00
147.00
 
 
incl
115.62
116.12
0.50
271.00
148.00
 
 
 
163.78
164.28
0.50
25.90
12.80
 
VU-728
-7.5/204
66.50
67.00
0.50
239.00
136.00
 
 
 
111.13
111.63
0.50
48.00
59.00
 
VU-735
-2.5/204
136.00
137.20
1.20
8.64
10.80
 
1260 m South Drill Bay - 426,529E/6,258,018N - 185 Azimuth
VU-729
-36/185
21.60
24.00
2.40
15.99
45.29
 
 
incl
22.85
23.35
0.50
49.10
55.20
 
 
 
87.00
96.00
9.00
31.18
10.19
 
 
incl
87.99
88.49
0.50
541.00
106.00
 
VU-732
-28/185
119.00
120.00
1.00
8.77
4.80
 
 
 
131.00
132.00
1.00
8.07
3.50
 
VU-737
-21/185
94.00
95.00
1.00
7.85
17.50
 
1260 m South Drill Bay - 426,529E/6,258,018N - 190 Azimuth
VU-741
-39/190
23.00
23.95
0.95
14.70
262.00
 
 
 
23.95
24.45
0.50
74.70
358.00
 
1260 m South Drill Bay - 426,529E/6,258,018N - 195 Azimuth
VU-746
-37/195
23.00
54.00
31.00
10.28
123.70
1 sample cut
 
or
23.00
54.00
31.00
149.95
123.70
uncut
 
incl
29.40
29.90
0.50
9,200
5,500
 
 
incl
41.80
43.00
1.20
6.92
15.90
 
 
incl
52.00
53.00
1.00
6.94
663.00
 
 
 
67.00
67.78
0.78
52.70
11.60
 
 
 
101.00
113.00
12.00
24.12
15.43
 
 
incl
101.00
102.00
1.00
282.00
154.00
 
VU-748
-29/195
20.00
41.37
21.37
14.23
38.09
1 sample cut
 
 
2
 
 
Hole
No.
Dip/Azimuth
From
(meters)
To
(meters)
Interval (meters)
Gold (g/t)
Silver(g/t)
 
Comments
 
or
20.00
41.37
21.37
30.73
38.09
uncut
 
incl
27.00
28.00
1.00
9.02
8.10
 
 
incl
29.52
30.02
0.50
1,245
977.00
 
 
incl
39.00
40.00
1.00
5.21
16.40
 
 
 
99.98
100.48
0.50
27.00
87.60
 
 
 
140.00
141.00
1.00
22.70
17.60
 
VU-752
-21/195
40.11
41.20
1.09
70.80
39.10
 
 
 
69.00
80.00
11.00
16.05
8.35
 
 
incl
69.00
70.00
1.00
23.00
6.10
 
 
incl
70.00
71.00
1.00
144.00
51.60
 
VU-755
-14/195
67.40
68.18
0.78
19.15
26.50
 
1310 m Drill Bay - 426,522E/6,258,139N - 210 Azimuth
VU-750
-30/210
3.00
4.00
1.00
21.30
7.10
 
 
 
98.00
106.61
8.61
31.83
27.38
1 sample cut
 
or
98.00
106.61
8.61
34.50
27.38
uncut
 
incl
106.11
106.61
0.50
586.00
299.00
 
VU-753
-25/210
112.00
117.00
5.00
15.57
13.05
 
 
incl
114.42
114.92
0.50
130.00
57.40
 
 
 
165.40
165.90
0.50
300.00
245.00
 
VU-757
-20/210
91.04
91.54
0.50
10.75
7.00
 
 
 
195.05
195.55
0.50
60.40
5.4
 
VU-760
-15/210
91.00
92.00
1.00
17.20
46.00
 
 
 
99.88
100.38
0.50
19.45
30.30
 
 
 
183.00
184.00
1.00
11.60
4.30
 
VU-763
-10/210
99.00
118.00
19.00
15.21
19.43
1 sample cut
 
or
99.00
118.00
19.00
17.31
19.43
uncut
 
incl
99.00
100.00
1.00
13.75
8.50
 
 
incl
116.94
117.44
0.50
620.00
466.00
 
VU-765
-5/210
89.00
90.00
1.00
8.17
11.40
 
VU-771
5/210
43.00
47.72
4.72
6.42
8.43
 
 
incl
47.22
47.72
0.50
44.40
53.80
 
1270 m Drill Bay - 426,663E/6,258,075N - 151 Azimuth
VU-743
-30/151
165.00
166.00
1.00
18.70
34.10
 
VU-747
-24/151
98.00
99.00
1.00
7.97
9.40
 
 
 
149.00
150.00
1.00
6.41
29.80
 
VU-751
-18/151
118.00
126.38
8.38
17.30
42.96
 
 
incl
125.88
126.38
0.50
221.00
332.00
 
 
 
164.74
184.00
19.26
15.43
24.01
 
 
incl
165.24
165.74
0.50
19.05
30.20
 
 
incl
178.20
178.70
0.50
522.00
251.00
 
VU-754
-12/151
157.00
157.90
0.90
7.78
22.50
 
VU-759
-6/151
15.00
16.00
1.00
8.99
8.70
 
VU-762
0/151
151.00
167.00
16.00
20.93
84.37
1 sample cut
 
 
3
 
 
Hole
No.
Dip/Azimuth
From
(meters)
To
(meters)
Interval (meters)
Gold (g/t)
Silver(g/t)
 
Comments
 
or
151.00
167.00
16.00
70.93
84.37
uncut
 
incl
153.60
154.10
0.50
42.50
69.90
 
 
incl
164.22
164.72
0.50
2,140
2,200
 
VU-766
5/151
111.15
127.00
15.85
12.41
52.74
 
 
incl
117.20
118.32
1.12
49.00
128.00
 
 
incl
125.76
126.26
0.50
245.00
90.20
 
 
 
138.00
143.00
5.00
10.16
12.16
 
 
incl
141.00
142.00
1.00
15.60
22.20
 
VU-770
12.5/151
96.00
104.80
8.80
7.83
9.23
EOH
 
incl
102.00
102.94
0.94
64.00
37.90
 
VU-773
27.5/151
94.21
104.30
10.09
10.02
24.19
EOH
 
incl
94.21
94.71
0.50
26.80
10.40
 
 
incl
103.10
104.30
1.20
52.80
23.30
EOH
1350 m East Drill Bay - 426,706E/6,258,050N - 114 Azimuth
VU-740
4.5/114
127.00
128.00
1.00
21.30
78.10
 
 
 
161.20
184.70
23.50
7.42
369.70
 
 
incl
164.25
164.75
0.50
27.90
1,690.00
 
 
incl
164.75
165.25
0.50
20.60
993.00
 
 
incl
173.70
174.20
0.50
43.10
2,250.00
 
 
incl
174.20
174.70
0.50
46.10
2,230.00
 
 
incl
181.70
182.20
0.50
52.10
2,930.00
 
 
incl
182.20
182.70
0.50
42.20
2,030.00
 
 
incl
182.70
183.20
0.50
15.00
922.00
 
 
incl
183.70
184.20
0.50
20.70
1,210.00
 
VU-744
11.5/114
143.25
143.75
0.50
18.20
24.30
 
VU-749
18.5/114
14.00
15.00
1.00
9.85
148.00
 
 
 
124.00
147.30
23.30
32.75
40.52
1 sample cut
 
or
124.00
147.30
23.30
69.66
40.52
uncut
 
incl
138.00
139.00
1.00
31.30
16.50
 
 
incl
142.00
143.00
1.00
112.50
37.90
 
 
incl
144.70
145.20
0.50
202.00
173.00
 
 
incl
145.70
146.20
0.50
2,260
873.00
 
 
incl
146.20
146.70
0.50
473.00
366.00
 
1350 m West Drill Bay - 426,680E/6,258,063N - 290 Azimuth
VU-756
51/290
61.00
94.00
33.00
12.13
30.59
1 sample cut
 
or
61.00
94.00
33.00
21.07
30.59
uncut
 
incl
62.53
63.03
0.50
31.00
23.30
 
 
incl
65.00
66.00
1.00
19.70
12.30
 
 
incl
74.00
75.00
1.00
18.00
127.00
 
 
incl
88.80
89.30
0.50
1,130
619.00
 
VU-758
40/290
60.00
86.00
26.00
14.22
18.74
 
 
incl
62.85
63.35
0.50
182.00
154.00
 
 
incl
67.00
68.00
1.00
40.50
18.50
 
 
 
4
 
 
Hole
No.
Dip/Azimuth
From
(meters)
To
(meters)
Interval (meters)
Gold (g/t)
Silver(g/t)
 
Comments
 
incl
71.00
72.00
1.00
60.10
36.40
 
 
incl
72.00
72.65
0.65
38.30
37.20
 
 
incl
73.65
74.15
0.50
19.25
29.50
 
 
incl
74.15
74.65
0.50
41.00
33.70
 
 
incl
77.00
77.70
0.70
61.70
36.70
 
 
incl
78.96
79.46
0.50
37.80
52.60
 
VU-761
28/290
97.35
108.56
11.21
6.50
8.37
 
 
incl
97.35
97.85
0.50
115.00
79.30
 
VU-764
65/290
34.00
38.00
4.00
20.56
44.63
 
 
incl
36.43
36.93
0.50
60.60
83.00
 
 
incl
36.93
38.00
1.07
47.10
98.40
 
 
 
63.00
76.66
13.66
5.50
60.54
 
 
incl
63.00
64.00
1.00
39.60
23.90
 
 
incl
67.00
68.00
1.00
9.57
13.50
 
 
incl
76.16
76.66
0.50
9.19
28.60
 
 
 
91.49
91.99
0.50
9.06
41.50
 
1350 m West Drill Bay - 426,680E/6,258,063N - 272 Azimuth
VU-767
28/272
45.00
48.00
3.00
6.91
29.55
 
 
incl
46.00
46.53
0.53
32.00
24.40
 
VU-769
41/272
46.00
46.60
0.60
10.15
249.00
 
 
 
53.00
54.00
1.00
5.58
7.90
 
 
 
56.00
57.00
1.00
6.91
5.70
 
 
 
58.00
59.00
1.00
11.55
7.70
 
VU-772
54/272
59.25
59.75
0.50
9.83
6.70
 
 
 
60.31
60.81
0.50
5.39
13.00
 
1260 m East Drill Bay - 426,537E/6,258,032N - 21 Azimuth
VU-655
-62.5/21
8.00
11.00
3.00
20.14
14.27
 
 
 
10.00
11.00
1.00
57.40
22.40
 
 
 
97.00
112.10
15.10
15.38
23.27
 
 
incl
97.00
98.00
1.00
31.50
18.90
 
 
incl
111.10
111.60
0.50
123.50
55.40
 
 
incl
111.60
112.10
0.50
249.00
293.00
 
 
 
265.00
266.00
1.00
19.80
11.60
 
1260 m East Drill Bay - 426,537E/6,258,032N - 6 Azimuth
VU-664
-60/6
22.03
22.53
0.50
9.83
3.10
 
 
 
63.00
68.00
5.00
12.94
9.62
 
 
incl
64.00
65.00
1.00
51.70
24.80
 
 
 
93.95
96.00
2.05
10.16
5.58
 
 
incl
93.95
94.45
0.50
29.70
3.90
 
 
 
238.00
253.00
15.00
13.82
14.06
 
 
incl
244.75
245.25
0.50
365.00
276.00
 
1260 m East Drill Bay - 426,537E/6,258,032N - 351 Azimuth
VU-669
-65/351
78.00
83.00
5.00
8.47
10.89
 
 
 
5
 
 
Hole
No.
Dip/Azimuth
From
(meters)
To
(meters)
Interval (meters)
Gold (g/t)
Silver(g/t)
 
Comments
 
incl
81.82
82.32
0.50
80.60
93.00
 
VU-673
-73/351
21.00
22.00
1.00
18.80
9.50
 
 
 
40.00
44.24
4.24
6.91
40.12
 
 
incl
40.00
41.00
1.00
21.40
82.20
 
VU-692
-67/351
20.00
21.00
1.00
8.95
44.40
 
 
 
64.00
71.00
7.00
23.24
22.54
 
 
incl
66.00
67.00
1.00
158.5
138.00
 
 
 
256.60
257.10
0.50
20.50
11.10
 
1260 m East Drill Bay - 426,537E/6,258,032N - 29 Azimuth
VU-687
-33/29
74.00
77.00
3.00
92.70
74.53
1 sample cut
 
or
74.00
77.00
3.00
102.04
74.53
uncut
 
incl
75.88
76.38
0.50
596.00
428.00
 
1260 m East Drill Bay - 426,537E/6,258,032N - 44 Azimuth
VU-699
24/44
68.24
68.74
0.50
128.50
153.00
 
VU-703
-15/44
20.00
21.55
1.55
8.54
9.46
 
VU-706
-33/44
5.00
34.74
29.74
20.06
20.85
 
 
incl
6.94
7.44
0.50
62.80
34.00
 
 
incl
12.14
12.64
0.50
373.00
139.00
 
 
incl
17.00
18.00
1.00
225.00
149.00
 
 
incl
22.46
22.96
0.50
388.00
140.00
 
 
 
66.00
67.00
1.00
60.10
36.80
 
1260 m East Drill Bay - 426,537E/6,258,032N - 55 Azimuth
VU-711
-15/55
25.32
33.00
7.68
8.80
16.90
 
 
 
88.00
90.00
2.00
18.89
10.30
 
 
incl
89.00
90.00
1.00
32.10
16.00
 
VU-714
-33/55
31.00
39.55
8.55
8.35
34.08
 
 
incl
35.67
36.17
0.50
113.00
85.60
 
(1)True thickness to be determined.
(2)Unless otherwise indicated as uncut, all gold assays over 540 g/t were cut to 540 g/t.
(3All 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 and fire assay with AA finish for gold. Samples over 100 ppm silver were reanalyzed using four acid digestion with an ore grade AA finish. Samples over 1,500 ppm silver were fire assayed with a gravimetric finish. Samples with over 10 ppm gold were fire assayed with a gravimetric finish. One in 20 samples was blank, one in 20 was a standard sample, and one in 20 samples had a sample cut from assay rejects assayed as a field duplicate at ALS Chemex in North Vancouver, B.C. Whole core (core not split) is being assayed as part of the underground infill drill program.
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.
 
 
6
 
About Pretivm
Pretivm is constructing a high-grade underground gold mine at its Brucejack Project in northern British Columbia with commercial production targeted for 2017.
For further information contact:
 
Joseph Ovsenek
Troy Shultz
President
Manager, Investor Relations &
Corporate Communications
 
 
Pretium Resources Inc.
Suite 2300, Four Bentall Centre, 1055 Dunsmuir Street
PO Box 49334 Vancouver, BC V7X 1L4
(604) 558-1784
(877) 558-1784
invest@pretivm.com
(SEDAR filings: Pretium Resources Inc.)
 
Forward-Looking Statements
 
This News Release contains “forward-looking information” and “forward looking statements” within the meaning of applicable Canadian and United States securities legislation. Statements contained herein that are not based on historical or current fact, including without limitation statements containing the words “anticipates,” “believes,” “may,” “continues,” “estimates,” “expects,” and “will” and words of similar import, constitute “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking information may include, but is not limited to, information with respect to our planned exploration and development activities, the adequacy of Pretivm's financial resources, the estimation of mineral reserves and resources including the 2013 Valley of the Kings Mineral Resource estimate and the Brucejack Mineral Reserve estimate, realization of mineral reserve and resource estimates and 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”, “targets” 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 reserve and 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 Annual Information Form dated March 28, 2016 filed on SEDAR at www.sedar.com and in the United States on Form 40-F 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. Neither the TSX nor the NYSE has approved or disapproved of the information contained herein.
 
 
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