Pretium Closes Brucejack Financing, Releases Drill Results

Pretium Resources Inc. (TSX:PVG,NYSE:PVG) announced that it’s closed a US$540-million construction financing package for its British Columbia-based Brucejack project. The financing is with Orion Mine Finance Group and Blackstone Technical Opportunities.
As quoted in the press release:

The Financing is comprised of a credit facility for US$350 million, a US$150 million prepayment under a callable gold and silver stream agreement and a private placement of Pretivm common shares for US$40 million. US$340 million was advanced to Pretivm at closing.

The company also released initial results from grassroots drilling currently taking place in the Flow Dome zone at Brucejack. The work suggests a new stockwork zone or an extension of the Valley of Kings deposit. Highlights are as follows:

• Hole SU-657 intersected 21.87 grams of gold per tonne over 9 meters, including 203 grams of gold per tonne over 0.50 meters, 41.20 grams of gold per tonne over 0.50 meters, and 33.50 over 0.59 meters;
• Hole SU-654 intersected 16.9 grams of gold per tonne over 1.50 meters;
• Hole SU-654 also intersected 0.55 grams of gold per tonne over 33 meters;
• Hole SU-658 intersected 6.2 grams of gold per tonne over 2.35 meters, including 10.75 grams of gold per tonne over 1.18 meters; and,
• Hole SU-658 also intersected 0.26 grams of gold per tonne over 90 meters.

Click here to read the first Pretium Resources Inc. (TSX:PVG,NYSE:PVG) press release.
Click here to read the second release.