Each one in plain English, with the numbers worked through for a shareholder.
25 Oct 2021drilling result▲ GoodMajor
Pretivm announced a new gold discovery at the Golden Marmot Zone, 3.5 km north of the Valley of the Kings deposit. The first nine holes reported found gold in eight, including 72.5 g/t over 53.5 meters in SU-786. The 2021 program was 26 holes (8,466 meters), so results from the remaining 17 holes are expected early 2022, and results from Gossan Hill, Bridge Zone and Hanging Glacier are still to come. Statements that it could be a new deposit of similar size to Valley of the Kings are management's view; true thickness is yet to be determined.
Pretivm reported Phase 3 results from the North Block drilling (85 holes, 25,154 meters), with seven intersections above 1,000 g/t gold, including 493.2 g/t over 15.0 meters in VU-3255. Mineralization was hit up to 450 meters from the Valley of the Kings resource shell. This follows Phases 1 and 2 (Feb and June 2021) and resolves the pending Phase 2 thread; Phase 4 is underway. Management says an updated Mineral Resource estimate, including the North Block zone, is expected in the first half of 2022.
Pretivm reported drilling from the 1080 Level (one of the lowest mining levels at Brucejack) that found high-grade gold up to 200 meters below and 200 meters east of the current Mineral Resource shell, from a program of 59 holes totalling 14,009 meters. Four intersections assayed above 1,000 g/t gold, including 245.9 g/t over 7.5 meters in VU-2421. This is a separate program from the North Block drilling reported in February 2021; these are drill results, not a resource update, and true thickness is yet to be determined. Follow-up drilling is underway with assays pending.
Pretivm reported high-grade gold from its first resource expansion drilling at Brucejack since commercial production began in 2017, in the North Block Zone next to the Valley of the Kings deposit. Phase 1 (38 holes, 7,011 meters) hit intercepts up to 300 meters from the current resource shell, including 2,590 g/t gold over 1.0 meter in VU-2794, and four intersections assayed above 1,000 g/t. Phase 2 results, covering up to 450 meters north, are still pending; these are drill results, not an updated resource estimate, and true thickness is yet to be determined.
Pretivm filed the formal technical report for Brucejack (effective March 9, 2020), backing the updated mineral reserve, resource and life-of-mine plan announced in its March 9, 2020 news release. The company says there are no material differences between the report and that release, so this is a filing of already-announced numbers rather than new ones. It also set first-quarter 2020 results for release after market close on April 30, 2020, with a call on May 1.
Pretium filed an updated technical report on the Brucejack Gold Mine, with an effective date of April 4, 2019, prepared by Tetra Tech and other qualified persons. The visible text is mostly the table of contents; the excerpt does not show the reserve, resource or cost figures, and the exhibit list also includes a May 17, 2019 news release whose content is not shown.
