In a news release, Vancouver-based intermediate gold producer Pretium Resources Inc. (PVG:TSX; PVG:NYSE) announced "the results of the 2020 regional grassroots exploration program, including a discovery at the Hanging Glacier Zone, and plans for the company's 2021 exploration programs."
Pretium Resources indicated that its 2020 regional grassroots exploration program consisted of 25,350 meters of diamond drilling across four separate mineralized zones in the property surrounding the firm's high-grade gold underground Brucejack Mine. The company noted that the highlight from the program was the discovery of epithermal-style gold mineralization in the Hanging Glacier Zone located just four kilometers from the Brucejack Mine, which illustrates the district-scale potential at Brucejack.
Pretium Resources' President and CEO Jacques Perron commented, "This exciting discovery at Hanging Glacier, only four kilometers from the Brucejack Mine, shows the district-scale potential at Brucejack...We will significantly increase our resource expansion and exploration efforts in 2021 so we can surface value by extending mineral resources and pursuing the prospects for additional gold mineralization immediately surrounding the Brucejack Mine."
The company discussed the results from its 2020 regional grassroots exploration program in detail including drill assay results and started off by focusing on the new discovery at the North and South Hanging Glacier Zones. The firm said that at Hanging Glacier, discovery hole BR-107 intersected 1.3 g/t Au over 101.0 m and in step out hole BR-132, it recorded 102.0 m of 2.1 g/t Au, including 13.0 m of 9.55 g/t Au. The firm also highlighted that at South Hanging Glacier, drill Hole BR-112 intersected one segment assaying 8.97 g/t Au and 5,150 g/t Ag over 1.0 m.
Pretium advised that it currently has two exploration programs planned for 2021. The first plan is for definition and expansion adjacent to the Brucejack Mine infrastructure, which will include roughly 195,000 meters of drilling comprised of in-reserve definition drilling, in-resource and sustaining drilling and resource expansion drilling.
The second scheduled program is a near-mine exploration program, which will focus on the new discovery at Hanging Glacier. The near-mine exploration program calls for 10,000 meters of surface drilling in order to delineate the high-grade gold corridors and test for higher-grade, epithermal-style veins higher up in the stratigraphy. The firm also plans to conduct high-resolution drone magnetic and induced polarity surveys as part of the program.
The firm additionally plans to undertake generative exploration work including prospecting, soil sampling, and geophysical surveys to test the potential of the zones situated near the Brucejack project. The company reported it will carry out an additional 8,000 meters of surface drilling in order to test these zones with goal of expanding the resource surrounding the Brucejack Mine.
Read what other experts are saying about:
Disclosure:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Pretium Resources. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Pretium Resources, a company mentioned in this article.
