EXPLORATION & DEVELOPMENT

Pretium makes new discovery at Brucejack

Pretium Resources has announced a new discovery of epithermal-style gold mineralisation with district-scale potential at the Hanging Glacier zone near its Brucejack gold mine in British Columbia, Canada.

Staff reporter
Pretium Resources' Brucejack mine in British Columbia, Canada

Pretium Resources' Brucejack mine in British Columbia, Canada

The Hanging Glacier zone is 4km from Brucejack and comprises two areas defined by anomalous gold in soil samples that extend over 1.5km-by-1km. Drilling has tested two high-grade gold in soil anomalies, returning assays up to 3.21 grams per tonne.

"This exciting discovery at Hanging Glacier 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 Au mineralisation immediately surrounding the Brucejack Mine," said Pretium president and CEO Jacques Perron.

At North Hanging Glacier, the 2020 discovery hole assayed 10m grading 1.3g/t while a 100m step-out hole assayed 102m grading 2.1g/t showing lateral continuity of mineralisation along the porphyry contact. At South Hanging Glacier, drilling intersected broad intervals of low-grade gold hosted in disseminated pyrite with highlights of 1m grading 8.97g/t of gold and 5,150g/t of silver.

For 2021, Pretium plans a definition and expansion program adjacent to Brucejack mine infrastructure and a near-mine exploration programme. The 2021 Brucejack definition and expansion drill programme is anticipated to total about 195,000m of reserve definition, resource and extension drilling. Underground resource expansion and exploration drilling will target near-mine zones with the potential to extend mineralisation underground.

The near-mine exploration programme will focus on the new discovery at Hanging Glacier. A 10,000m surface drill programme is planned to delineate the high-grade gold corridors and test for higher-grade, epithermal-style veins higher up in the stratigraphy.

Shares in Pretium Resources are trading at C$14.52, valuing the company at $2.7 billion.

 

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