Update on the Pretium Resources Brucejack Project
Pretium Resources Inc., is pleased to announce that it has been issued all of the major regulatory permits required to begin development work on the Brucejack Project in northern British Columbia. — Photo courtesy Pretium Resources
As of September 1st, 2015 Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm" or the "Company") is pleased to announce that it has been issued all of the major regulatory permits required to begin development work towards commercial production at the Brucejack Project located in northern British Columbia.
The British Columbia Minister of Energy and Mines has issued a Mines Act Permit approving Pretium's mine plan and reclamation program allowing commercial production at the Brucejack Project. The Mines Act Permit allows for the construction of a 2,700 tonnes per day doré and flotation plant, development of an underground mine, and associated facilities and other infrastructure.
Pretium has also been issued an Environmental Management Act permit for its Brucejack Project by the British Columbia Ministry of Environment which governs effluent discharge during construction and operation.
The Pretium 100%-owned Brucejack Project is part of a largely unexplored land package of over 103,000 hectares (over 254,518 acres) located approximately 65 kilometers north of Stewart in northwestern British Columbia. The focus of the Project is the Valley of the Kings, which is comprised of high-grade visible gold stringers within a lower grade gold quartz stockwork system. A feasibility study completed in June 2014 has outlined Proven and Probable mineral reserves in the Valley of the Kings of 6.9 million ounces of gold (13.6 million tonnes grading 15.7 grams per tonne gold).
About Pretium
Pretium is advancing its 100%-owned Brucejack Project in northern British Columbia to production as a high-grade gold underground mine. Based on the results of the June 2014 Feasibility Study, Brucejack is expected to produce an average of 504,000 ounces of gold a year over the first 8 years and 404,000 ounces of gold a year over the 18-year mine life. Brucejack's Valley of the Kings hosts Proven and Probable reserves totalling 6.9 million ounces of gold (13.6 million tonnes grading 15.7 grams of gold per tonne). Commercial production at Brucejack is targeted for 2017.
Source: Marketwire
