Pretium Resources Inc.: Brucejack Project Update; Valley of the Kings Ramp Advance
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 9, 2013) - Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm") is pleased to provide the following update on the progress of activities at its Brucejack Project in northern British Columbia.
Valley of the Kings Access Ramp
Excavation of the access ramp to the Valley of the Kings from the West Zone historical workings is now underway, with the widening of the West Zone historical workings completed. The access ramp to the Valley of the Kings from the West Zone is planned to total 546 meters in length, and is targeting the 1345 meter level at the 426600 cross-section of the Valley of the Kings. A total of 71 meters of the access ramp has been excavated since the turn towards the Valley of the Kings from the West Zone was initiated late last year. The ramp is expected to access the Valley of the Kings in April.
In addition to targeting an area of mineralization for the bulk sample, the current ramp alignment will allow acceleration of production development as it will be used to provide multiple headings for excavation of the planned production declines. A channel sampling program along the ramp will be conducted as work progresses, as the area is untested. Further underground sampling and drilling is planned after Valley of the Kings has been reached.
Bulk Sample
Strathcona Mineral Services Ltd. of Toronto has been engaged as the independent Qualified Person to oversee and report on the 10,000-tonne bulk sample from the Valley of the Kings. Excavation of the bulk sample is scheduled to begin in the second quarter. Planning is underway with Strathcona on the work required to be completed prior to excavating the bulk sample, the procedures for excavating the bulk sample and the sampling protocols.
Project Permitting
In late December, Pretivm submitted the project description for Brucejack to the British Columbia Environmental Assessment Office. The filing initiates the permitting process for the proposed 2,700 tonnes per day high-grade underground gold mine at the Valley of the Kings.
Ian I Chang, M.A.Sc., P.Eng., Vice President, Project Development, Pretium Resources Inc. is the Qualified Person (QP) responsible for Brucejack Project development.