VANCOUVER, British Columbia, June 18, 2018 (GLOBE NEWSWIRE) — Pretium Resources Inc. (TSX:PVG) (NYSE:PVG) (“Pretivm” or the “Company”) is pleased to report the results of underground exploration drilling. Both holes, over 1,500-meters in length, drilled east from the Valley of the Kings intersected Brucejack-style mineralization throughout, with anomalous copper and molybdenum mineralization suggesting proximity to porphyry-style mineralization at depth.
The drilling was conducted to test mineralization continuity between the Valley of the Kings and the Flow Dome Zone while assessing the potential for a porphyry source at depth. The Flow Dome Zone is an area approximately 1,000 meters east of the Brucejack Mine, where drilling in 2015 intersected high-grade gold (see news release dated October 8, 2015). Holes VU-820 and VU-911 were drilled from the eastern edge of the 1200-meter level of the Valley of the Kings underground development. Hole VU-820 was drilled 1,584 meters to the east at a -50 degree angle, and hole VU-911 was drilled 1,555 meters to the east at a -65 degree angle.
For a section view of the reported holes please see the following link:
Extending the known limits of the Brucejack Mine mineralization
Results confirm the presence of Brucejack-style mineralization starting from the eastern edge of the Valley of the Kings to beneath the Flow Dome Zone. Oriented core drilling intersected Brucejack-style alteration, veining, and mineralization along the length of both drill holes. The holes were directed to test the porphyry potential and were drilled subparallel to the stockwork veining. Stockwork veinlets and significant stockwork breccia containing gold and silver mineralization were intersected in both drill holes. Four occurrences of visible gold were noted between depths of 105 meters and 802 meter in the steeper (VU-911) drill hole. (See Table 1 below for select assays.) These results will be used for planning a future underground drill program focused on resource expansion of the Valley of the Kings to the east.
Selected drill highlights include:
Hole VU-820 intersected:
- 1.71 grams of gold per tonne over 90.21 meters, including 5.12 grams of gold per tonne over 1.00 meter, 6.43 over 4.00 meters, 58.70 over 1.00 meter, and 6.06 over 1.00 meters;
- 46.00 grams of gold per tonne over 1.00 meter;
Hole VU-911 intersected:
- 157.00 grams of gold per tonne over 0.50 meters, visible gold was observed;
- 142.00 grams of gold per tonne over 1.50 meters;
- 76.30 grams of gold per tonne over 0.50 meters, visible gold was observed;
- 33.60 grams of gold per tonne over 0.50 meters, visible gold was observed;
Exploration Drilling for Porphyry Source
Anomalous copper and molybdenum mineralization intersected at depth in both holes. The zone of anomalous mineralization extends at depths of between 1,400 meters and 1,485 meters in drill hole VU-911, and occurs more diffusely over a broader area in drill hole VU-820 (1260 meters to 1585 meters down-hole depth). These intervals line-up sub vertically between both drill holes. The mineralized zone in drill hole VU-911 corresponds with a downhole total field magnetic high, change in alteration, and the presence of a coarse porphyritic host rock. Pyrite grains from both holes show a transition from being zoned (Valley of the Kings style) to being unzoned with inclusions of chalcopyrite (Kerr style) downhole. These features suggest increased proximity to porphyry style mineralization at depth below the Flow Dome Zone.
A follow-up surface geophysical program will be initiated utilizing the data from the downhole in-situ electrode. The drill results along with the geophysics will be compiled to refine targeting of this zone for subsequent drilling. Mineral chemistry evaluation for porphyry vectoring and geochronology of porphyritic material at depth is currently underway.
Warwick Board, Ph.D., P.Geo, Pr.Sci.Nat., Vice President, Geology and Chief Geologist, Pretium Resources Inc. is the Qualified Person (“QP”) responsible for the Brucejack Mine exploration drilling.
Regional Grass-Roots Exploration
Crews have been mobilized to site and an MT geophysical survey is currently underway to refine high-priority targets for a 1,500 meter regional exploration drilling planned to commence in July. The 2018 regional grass-roots exploration program follows up on the comprehensive regional exploration that has previously been completed on the 1,250-square kilometer property, including sampling, regional mapping, prospecting, airborne geophysics, ground geophysics, and hyperspectral mapping. To date, the program has resulted in the identification of several distinct areas that have the potential to host mineralized zones similar to the Valley of the Kings and Eskay Creek deposits.
Kenneth C. McNaughton, M.A.Sc., P.Eng., Chief Exploration Officer, Pretium Resources Inc. is the QP responsible for the regional grass-roots exploration program.
Table 1: Selected Exploration Drill Results, June 2018 (VU-820 & VU-911)(1,2)