Canadian Mining Journal

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GOLD: Pretium ups Valley of the Kings measured resources



BRITISH COLUMBIA – Pretium Resources of Vancouver must be pleased with the infill drill program at its Valley of the Kings deposit. The results have allowed the company to increase its reserve estimate as it prepares the underground gold mine for production in mid-2017.

Pretium said that contained gold in measured resources were 58% higher – 1.9 million oz of gold in 3.5 million tonnes grading 17.0 g/t Au.

The infill program drilled 63,700 metres in 367 holes on 7.5 to 10 metre centres. Both tonnage and contained gold are up from the December 2013 estimate. There are 16.4 million measured and indicated tonnes grading 17.2 g/t Au (9.1 million oz) and 4.6 million inferred tonnes grading 21.0 g/t Au (3.1 million oz). Compare that to the earlier measured and indicated estimate of 15.4 million tonnes grading 17.6 g/t and containing 8.7 million oz.

The Valley of the Kings forms part of the high grade Brucejack gold project 60 km north of Stewart. At the end of June 2016, footings and pedestals for the mill building, surge bin, SAG and ball mills had been completed. Collaring the main portal access was underway, and crews were driving the access decline from both ends. Underground development was on-going on the 1260, 1290, 1300, 1320, 1350 and 1380 metre levels. Headings were also being excavated for infrastructure including the conveyor ramp, conveyor transfer tower, paste fill booster station, and the No.2 ventilation raise. Construction of the 330-person camp was advancing, with the first of three dorms ready to be occupied shortly.

Details of the Brucejack project are available at www.Pretivm.com.