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Gold Miner 'Expanding the Envelope' of Mineralization at B.C. Project

Streetwise Reports
0 Comments|June 11, 2019

Recent drill results and their implications were addressed in a BMO Capital Markets report.

Pretium's Brucejack Mine

In a June 5 research note, BMO Capital Markets analyst Andrew Kaip reported that Pretium Resources Inc.'s (PVG:TSX; PVG:NYSE) recent drill results lead one to ask whether the company "should accelerate exploration to begin outlining the eastern resource potential of the Valley of the Kings (VOK) deposit."

The two drill holes targeting the Flow Dome zone at Brucejack, east of the VOK deposit, demonstrated continuity of VOK-style mineralization for 240 meters to the east, Kaip indicated.

Drill hole 1787, for example, intercepted a broad zone of gold mineralization averaging 5.6 grams per ton (5.6 g/t) gold and measuring 107.5 meters (107.5m) downhole. In that intercept were numerous occurrences of visible gold related to intervals with higher grades, such as 185.5 g/t over 1.5m and 72.8 g/t gold over 1.50m.

Kaip commented it is probable the 107.5m interval does not reflect the accurate width of the zone due to hole 1787 potentially being drilled obliquely to the zone. The actual zone width is likely that of the VOK deposit, which spans tens of meters.

Should Pretium be "devoting more resources to constructing an exploration drift to the east to provide an exploration platform and accelerate the systematic drill-out of the VOK deposit east towards the Flow Dome deposit?" Kaip queried.

BMO has an Outperform rating and a CA$17.50 per share price target on Pretium, whose stock is currently trading at around CA$12.38 per share.

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