Visible gold gives Pretium Resources a noticeable bump
Pretium Resources (NYSE:PVG) gained 7.83% on Wednesday after announcing “. . . that the first underground hole drilled as part of the Valley of the Kings bulk sample program intersected visible gold and confirms the projection of high-grade gold mineralized domains.”
The company is currently trading at $8.26. The 52-week range is $5.36 to $15.36.
The highlights of the news release were the following:
- Hole VU-01 showed 21.57 grams of gold per tonne over 12.00 meters, including 388 grams of gold per tonne over 0.50 meters and 99.7 grams of gold per tonne over 0.50 meters.
- 8.38 grams of gold per tonne over 2.00 meters, including 31.10 grams of gold per tonne over 0.40 meters.
The Brucejack Project is located in northern British Columbia, about 65 KM north of Stewart. A feasibility study of the underground mine is expected to be completed in the second quarter of 2013.
The president and CEO is Robert A. Quartermain, who received recognition from the PDAC this year for advancing the Valley of the Kings project.