- Pretium Resources (PVG) has unlocked a new discovery during its recent exploration efforts at the underground Brucejack Mine in British Columbia
- The company has intersected epithermal-style gold mineralization at the property’s Hanging Glacier Zone
- Assays from the drilling reached 2.1 grams per tonne gold over 102 meters, which included 9.5 grams per tonne gold over 13 meters
- The new discovery is only four kilometres from the Brucejack mine, suggesting the potential for as-yet untapped mineral reserves near the site’s existing infrastructure
- Pretium Resources is up 2.69 per cent and is trading at C$14.91 per share
Pretium Resources (PVG) has unlocked a new discovery at the underground Brucejack Mine in British Columbia.
The company has intersected epithermal-style gold mineralization at the property’s Hanging Glacier Zone. The new discovery is only four kilometres from the Brucejack mine, suggesting the potential for as-yet untapped mineral reserves near the site’s existing infrastructure.
Drilling at the zone tested two high-grade gold in soil anomalies assaying up to 3.21 grams per tonne gold.
Assays from the drilling reached 2.1 grams per tonne gold over 102 meters, which included 9.5 grams per tonne gold over 13 meters.
Other assays from the zone included 1.30 grams per tonne gold over 101.0 meters, which contained a higher-grade segment at 3.68 grams per tonne gold over 10.5 meters.
Jacques Perron, President and CEO of Pretium, said the “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 gold mineralization immediately surrounding the Brucejack Mine,” he added.
The 2020 program has included more than 25,000 metres of diamond drilling over the site’s four mineralised zones.
Turning to the company’s recent stock performance, it’s been a roller-coaster year for Pretium shares. After dragging its share price out of the COVID-19 induced industry-wide downturn, shares shot up more than 25 per cent in August on a better-than-expected quarterly report.
As a result, Pretium shares are currently up around 10 per cent on its price at the beginning of the year.
In trading today, Pretium Resources is up 2.69 per cent and is trading at C$14.91 per share at 11:12am EST.