Pretium Resources聽(TSX, NYSE: PVG)聽has聽聽at the Golden Marmot Zone on its聽Brucejack聽property in British Columbia,聽Canada,聽located聽roughly聽3.5km north of its Valley of the Kings deposit.聽聽
The company said it had聽received聽assays聽for the first nine drill holes,聽eight聽of which聽intersected gold with a highlight of 53.5m聽grading 72.5 grams per聽tonne聽gold including 50cm grading 6,700g/t gold and 3,990g/t silver.聽
鈥淚nitial results from Golden Marmot are exciting and affirm the district-scale potential of the Brucejack property,鈥� president and CEO Jacques Perron said in the statement.
Shares jumped on the news and were trading 6.7% higher in Toronto at C$12.07 by聽midday.聽That leaves the miner with a market capitalization of C$2.81聽billion ($1.7bn).
The聽gold聽mineralization聽covers聽a zone that is about 150m in width, 250m in length and 275m in depth,聽and聽occurs in the same host rocks and with the same alteration signature as the Valley of the Kings deposit. This, according to聽Pretium,聽is an indication聽that聽it could be a new high-grade deposit.聽
Golden Marmot鈥檚聽proximity and existing trail access would make it relatively easy to integrate into future mine plans as an independent source of ore to supply the聽Brucejack聽mill.聽
鈥淕olden Marmot is only the first of several zones drill tested this year with results still to come from Gossan Hill, Bridge Zone and Hanging Glacier,鈥� Perron聽said.聽鈥淎ll of these targets have the potential to deliver game-changing results and are within 4km of the聽Brucejack聽mine infrastructure.鈥�
Pretium聽began聽in June聽replacing聽its聽diesel trucks聽with a聽fleet of聽seven, with the option of an eight,聽battery electric聽vehicles聽(BEVs)聽at聽Brucejack.聽Sandvik started the distribution聽of its聽Sandvik Z50 battery-electric haul trucks in July, with a final delivery date for the entire fleet expected in early 2023.
The company said it remains on track to produce 325,000 ounces to 365,000 ounces of gold at an all-in sustaining cost of between $1,060/oz and $1,190/oz in 2021.聽