Brucejack Gold / Silver Mine
Pretivm’s 100%-owned Brucejack Project is part of a largely unexplored land package of over 90,000 hectares located 65 kilometers north of Stewart. Brucejack is comprised of high-grade, gold-rich veins within a larger bulk-tonnage gold-silver envelope, offering Pretivm a catalyst for near-term production as well as a scale-up development opportunity.
About This Project
In 2011 Previum completed a 72,144-meter drill program at Brucejack focused on delineating and expanding the project’s known high-grade gold mineralization. A particular emphasis of the program was on definition drilling in the Valley of the Kings Zone, where multi-kilogram gold intersections in parallel veins have been encountered since 2009. One of the first holes drilled in 2011 intersected 18,755 grams per tonne gold over 0.6 meters, and set a record for the property. A total of 24 intervals with uncut grades over 1,000 grams per tonne gold were intersected in 17 holes during the course of the 2011 drill program.
Studies released in February 2012 indicated that the site has a base case pre-tax Net Present Value (5% discount) of US$2.262 billion. Additionally, the mine life is estimated at 24 years, which will produce an estimated 6.9 million ounces of gold and 17.0 million ounces of silver. Production estimates released at the same time show that the mine will have an average annual production of 325,000 ounces of gold over the first 12 years and 287,000 ounces of gold over the life of mine.
In April 2012, there was an announcement of an underground high-grade gold resource for the Valley of the Kings and West Zone. Gold resources at the Valley of the Kings now comprise 4.9 million ounces of gold in the Indicated Resource and 10.4 million ounces of gold in the Inferred Resource.
An initial 24,000-meter drill program is underway in the Valley of the Kings with the objective of upgrading the Inferred resources to Indicated in support of the feasibility study now underway. Expansion drilling is being planned, and an update to the high-grade resource is anticipated in the third quarter of 2012.
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