VANCOUVER, BRITISH COLUMBIA, Jan. 10, 2011 (Marketwire) --
Pretium Resources Inc. (TSX:PVG) ("Pretivm") is pleased to report that, with the completion of the acquisition on December 21, 2010 of the Snowfield project ("Snowfield") and Brucejack project ("Brucejack" and collectively with Snowfield, the "Projects") from Silver Standard Resources Inc., all drill hole interval assay data from the drilling completed on the Projects from 2006 to 2010 have been posted to Pretivm's website. In the Brucejack section, Pretivm has also posted a tabulation of all uncut gold assay intervals grading over three grams per tonne intersected in the 2009 and 2010 drilling campaign at Brucejack.
In 2010, 51,100 meters of drilling was completed on the Projects. Pretivm is now incorporating this drill and assay data into the resource models for the Projects.
For Snowfield, an update of the September 2010 resource estimate is being prepared incorporating the approximately 18,000 meters of drilling in 44 drill holes completed in 2010.
For Brucejack, two resource estimates are being prepared incorporating the 33,100 meters of drilling in 73 drill holes completed in 2010: a higher-grade resource estimate focusing on gold mineralization grading greater than three grams of gold per tonne; and an update of the December 2009 bulk tonnage resource estimate.
All three of these resource estimates are expected to be completed in the first half of 2011 and are Pretivm's current priority.
The results of these resource estimates are intended to be used to design the 2011 exploration program and to be incorporated into engineering studies. Pretivm expects to have a significant drill program in 2011 focusing on the high-grade aspect of Brucejack and has seven drills currently reserved for that program.
Pretivm is also compiling all available data for incorporation into its planned pre-prefeasibility study on the Projects' bulk tonnage opportunity as a follow-up to the Technical Report and Preliminary Assessment of the Snowfield-Brucejack Project as presented by Wardrop Engineering Inc., dated October 28, 2010 and filed on SEDAR at www.sedar.com and available on Pretivm's website.
Pretivm is a start-up company that intends to acquire, explore and develop gold and precious metals resource properties, initially in the Americas. Pretivm has 100% interest in the Snowfield and Brucejack Projects; combined they represent one of the largest underdeveloped gold resources in North America. Pretivm's near term objectives are to focus on the high-grade gold opportunity at Brucejack, to advance the Projects to pre-feasibility and to explore for and acquire other precious metals resource properties.
(SEDAR filings: Pretium Resources Inc.)
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 prospectus (Pretium Resources Inc.) filed on SEDAR at www.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.
Kenneth C. McNaughton, M.A.Sc., P.Eng., is the Qualified Person (QP) for Pretium Resources Inc. and is responsible for the Snowfield and Brucejack Project exploration programs and has verified and supervised the preparation of the exploration data. 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 20 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.
The TSX has neither approved nor disapproved of the information contained herein.
Pretium Resources Inc.
Pretium Resources Inc.