Agoracom: Small Cap Investment - Pretium Resources Inc. - Update - Pretium Gains Up to 20% on TSX as Says 82,203 Ounces of Gold Produced at Brucejack Mine in Q3

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Update - Pretium Gains Up to 20% on TSX as Says 82,203 Ounces of Gold Produced at Brucejack Mine in Q3

posted on Oct 11, 2017 10:24AM

2017-10-11 09:56:57 AM ET (MT Newswires)

09:56 AM EDT, 10/11/2017 (MT Newswires) -- Pretium Resources Inc. (PVG.TO, PVG) was at last look up 17.5% at $14.26, and has touched a day high $14.46 after it reported earlier Wednesday third quarter 2017 production results for the high-grade gold Brucejack Mine in northern British Columbia. Highlights include 82,203 ounces of gold produced, 96.49% gold recovery rate, 261,262 tonnes of ore milled and 2,840 tonnes per day on average processed

On its Brucejack Mine Ramp-up, PVG said in July, at the onset of the quarter, mill feed was predominately from low-grade stockpiles and development muck and 16,882 ounces of gold were produced. As the ramp-up progressed, the mill began processing stope ore exclusively and an additional 65,321 ounces of gold were produced in the last two months of the quarter, it added.

PVG said for the quarter, mill feed grade and gold recoveries averaged 10.52 grams per tonne gold and 96.49% respectively. Mill feed grade and gold recoveries averaged 12.36 grams per tonne gold and 96.92% respectively during the last two months of the quarter as the mill transitioned to processing stope ore exclusively. The mill processed a total of 261,262 tonnes of ore for the third quarter for an average of 2,840 tonnes per day.