UPDATE: Pretium Resources Releases Drilling Update; Shares Pare Earlier Gain

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Pretium Resources Inc. ( PVG ) reported drilling results at its high-grade gold Brucejack Project in northern British Columbia. Drilling results from the ongoing program at the Valley of the Kings, showed a number of assays with more than 1,000 grams per tonne gold.

A total of 26,230 meters of drilling in 60 holes has been completed in this first phase of the 2012 Brucejack Exploration Program, which has now concluded, an updated resource estimate for Brucejack is expected in the third quarter and will be used in the feasibility study currently underway.

Phase two of the 2012 Brucejack Exploration Program is now underway and focused on high-grade definition drilling of the shallow high-grade resources at the Valley of the Kings and testing extensions of the Valley of the Kings and other high-grade zones.

PVG is now higher by about 6%, cutting earlier gains, at $15.42. Volume traded is over 1 million.



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This article appears in: Investing , Commodities

Referenced Stocks: PVG

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