Pretium Resources Inc.: Underground Exploration Drilling Intercepts Gold Mineralization at Depth

An eastern view of the Brucejack Mine. — Photo courtesy Pretium Resources Inc.

Pretium Resources Inc. (TSX/NYSE:PVG) (“Pretivm” or the “Company”) reports that its 2019 deep underground exploration drilling program confirmed expectations for Brucejack-style mineralization and proximity to porphyry-style mineralization at depth and to the east of the Brucejack Mine, with 5.56 grams of gold per tonne intersected over 107.45 meters. (See Table 1 below for assays.)

Two deep holes totaling more than 3,500 meters were drilled toward the southeast and northeast under the Flow Dome Zone, an area approximately 1,000 meters east of the Brucejack Mine where drilling in 2015 intersected Valley of the Kings-style high-grade gold (see news release dated October 8, 2015). Holes VU-1785 and VU-1787, both of which encountered Brucejack-style, gold-silver bearing quartz carbonate stockwork, were drilled from the eastern edge of the 1110-meter level in the Valley of the Kings underground development.

Of particular note, Hole VU-1787 intersected a zone of mineralized stockwork, including visible gold, extending over 107 meters (between 198 meters and 305 meters downhole) approximately 240 meters to the east and below the eastern limit of the existing Valley of the Kings Mineral Resource.

Selected drill highlights from Hole VU-1787 include:

5.56 grams of gold per tonne over 107.45 meters (true width between 54 and 107 meters) which included:

• 185.50 grams of gold per tonne over 1.50 meters;
• 3.05 grams of gold per tonne over 0.50 meters;
• 6.48 grams of gold per tonne over 8.39 meters, including: 28.00 grams per tonne over 1.00 meter, 10.55 grams per tonne over 1.50 meters and 6.16 grams per tonne over 1.50 meters;
• 6.41 grams of gold per tonne over 19.50 meters, including: 8.42 grams per tonne over 4.50 meters, and 18.34 grams per tonne over 4.50 meters;
• 4.75 grams of gold per tonne over 1.50 meters; and,
• 72.80 grams of gold per tonne over 1.50 meters.

Hole VU-1785 was drilled 2,005 meters to the southeast at a -65 degree angle, and hole VU-1787 was drilled 1,536 meters to the northeast at a -60 degree angle.

For a section view of the reported holes please see this link.

Both holes were drilled in areas uninformed by previous drilling, confirming the potential extension of Brucejack-style mineralization at depth and to the east of the Brucejack Mine.

Anomalous copper and molybdenum mineralization, indicative of a porphyry and similar to that noted in the 2018 deep exploration drilling (see news release dated June 18, 2018), was intersected at depth in both holes, extending between 1,850 meters and 2,005 meters in drill hole VU-1785 and between 1,270 meters and 1,535 meters in drill hole VU-1787. Additional geological and geochemical features, including changes in alteration, carbonate veining, pyrite zonation, and sphalerite composition, further support porphyry proximity vectoring beneath the Flow Dome Zone. Analyses of geological and geochemical samples collected from the drill core from both drill holes is in progress to further refine the vectoring process. A surface IP geophysical survey will be conducted this summer to augment the results of these analyses and generate targets for follow-up drilling, planned for 2019.

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 and has reviewed and approved the scientific and technical information in this news release relating thereto.

Crews have been mobilized to site in preparation for the 2019 grassroots exploration program on Pretivm’s Bowser Claims to follow up on the comprehensive regional exploration that has previously been completed on the 1,250-square kilometer property that surrounds the Brucejack Mine. The grassroots exploration program includes 5,000 meters of regional exploration drilling set to commence in early July. In addition to drilling high-priority targets, the program will also include: 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 Eskay Creek-style VMS deposits and high-grade, epithermal- related gold systems.

Kenneth C. McNaughton, M.A.Sc., P.Eng., Chief Exploration Officer, Pretium Resources Inc. is the QP responsible for the regional grassroots exploration program and has reviewed and approved the scientific and technical information in this news release.

Pretivm is a low-cost intermediate gold producer with the high-grade gold underground Brucejack Mine.