EXHIBIT
99.1
|
October 11
2017
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News Release
17-18
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82,203 Ounces of Gold Produced at the Brucejack Mine in Q3
2017
Vancouver,
British Columbia October 11, 2017; Pretium Resources Inc.
(TSX/NYSE:PVG) (“Pretivm” or the “Company”)
is pleased to report third quarter 2017 production results for the
high-grade gold Brucejack Mine.
Third Quarter Production Highlights
■
82,203 ounces of
gold produced
■
96.49 % gold
recovery rate
■
261,262 tonnes of
ore milled
■
2,840 tonnes per
day on average processed
Brucejack Mine Ramp-up
During
the third quarter of 2017, the Brucejack Mine produced 82,203
ounces of gold. In July, at the onset of the quarter, mill feed was
predominately from low-grade stockpiles and development muck and
16,882 ounces of gold were produced (see news release dated August 10,
2017). As the ramp-up progressed, the mill began processing
stope ore exclusively and an additional 65,321 ounces of gold were
produced in the last two months of the quarter.
For the
quarter, mill feed grade and gold recoveries averaged 10.52 grams
per tonne gold and 96.49% respectively. Mill feed grade and gold
recoveries averaged 12.36 grams per tonne gold and 96.92%
respectively during the last two months of the quarter as the mill
transitioned to processing stope ore exclusively.
The
mill processed a total of 261,262 tonnes of ore for the third
quarter for an average of 2,840 tonnes per day.
Lyle
Morgenthaler, B.A.Sc., P.Eng., Chief Mine Engineer, Pretium
Resources Inc. is the Qualified Person (“QP”)
responsible for Brucejack Mine development.
About Pretivm
Pretivm
is ramping-up gold production at the high-grade underground
Brucejack mine in northern British Columbia.
For
further information contact:
|
Joseph
Ovsenek
President
& CEO
|
Troy
Shultz
Manager,
Investor Relations &
Corporate
Communications
|
|
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Pretium
Resources Inc.
Suite
2300, Four Bentall Centre, 1055 Dunsmuir Street
PO Box
49334 Vancouver, BC V7X 1L4
(604)
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 accuracy of our mineral resource estimates; capital
and operating cost estimates; production and processing estimates;
the results, the adequacy of Pretivm's financial resources, the
estimation of mineral reserves and resources including the 2016
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
Mine, 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
Mine, timing and receipt of approvals, consents and permits under
applicable legislation, Pretivm's executive compensation approach
and practice, and statements regarding USD cash flows and the
recurrence of foreign currency translation adjustments. 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
30, 2017 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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