Form 6-K Pretium Resources Inc. For: Dec 16
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
6-K
Report
of Foreign Private Issuer
Pursuant
to Rule 13a-16 or 15d-16
under
the Securities Exchange Act of 1934
For
the month of December 2016
Commission
File Number: 001-35393
PRETIUM
RESOURCES INC
(translation
of registrant’s name into English)
1055
Dunsmuir Street, Suite 2300
Vancouver,
British Columbia
Canada
V7X 1L4
(Address
of principal executive office)
Indicate by check
mark whether the registrant files or will file annual reports under
cover of Form 20-F or Form 40-F:
Form
20-F ◻ Form 40-F ⌧
Indicate by check
mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1):
Yes ◻ No ⌧
Indicate by check
mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7):
Yes ◻ No ⌧
1
Exhibit
Index
Exhibit
Number
|
Description
of Exhibit
|
2
SIGNATURES
Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant
has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
|
PRETIUM
RESOURCES INC.
|
|
|
|
|
|
By:
|
/s/ Alicia
Milne
|
Date: December 16,
2016
|
Name:
|
Alicia
Milne
|
|
Title:
|
Corporate
Secretary
|
3
EXHIBIT 99.1
December 15,
2016
|
News Release
16-29
|
Positive
Valley of the Kings Mineral Reserve Update; Senior Management
Changes
Vancouver, British
Columbia December 15, 2016; Pretium Resources Inc. (TSX/NYSE: PVG)
(“Pretivm” or the “Company”) is pleased to
report a positive updated Valley of the Kings Mineral Reserve
estimate for its Brucejack Project, where construction and
development continues on schedule for commissioning of the
underground mine in mid-2017. The Company also reports the
appointment of Robert Quartermain to Executive Chair and Joseph
Ovsenek as President and Chief Executive Officer effective January
1, 2017.
Updated Valley of the Kings Mineral Reserve Estimate and Mine
Plan
Highlights
of the updated Mineral Reserve estimate include:
●
Proven Mineral
Reserves in the Valley of the Kings increased to 1.6 million ounces
gold (3.3 million tonnes grading 14.5 grams per tonne gold) which
is sufficient for the first three years of mine life.
●
Proven and Probable
Mineral Reserves in the Valley of the Kings increased to 8.1
million ounces gold (15.6 million tonnes grading 16.1 grams per
tonne gold).
Areas
of gain in the Mineral Reserves are attributed to the following
factors:
●
Increasing drill
density to 7.5-meter to 10-meter centers allowed for conversion of
a significant amount of Probable Reserve to the Proven Reserve
category. Mining stopes within the existing Mineral Reserve model
along with expansion of the previous Indicated Mineral Resource
wire frame accounted for an increase of approximately 620,000
ounces of gold.
●
Several new,
adjacent stopes were added to the previous mine plan as a result of
the infill drilling reaching beyond the previously defined ore.
This expansion to the mine plan accounts for an increase of
approximately 300,000 ounces of gold.
●
Adjustments were
made to the stope orientation and design parameters, along with the
addition of grade to the background mineralization for the estimate
which had previously been modeled at zero grade. Estimating waste
blocks within the stopes with the July 2016 Mineral Resource
estimate grade accounts for an increase of approximately 200,000
ounces of gold.
The
updated Mineral Reserve estimate is based on the July 2016 Mineral
Resource estimate for the Valley of the Kings (see news release dated July 21, 2016).
The July 2016 Mineral Resource estimate was updated based on the
2015-2016 Valley of the Kings infill drill program which consisted
of 63,740 meters in 367 drillholes designed to target stope areas
to be mined in the first three years of the current mine plan
(1320-meter level to 1200-meter level). Table 1 below is a summary
of the updated Valley of the Kings Mineral Reserve
estimate.
1
Table 1: Valley of the Kings Mineral Reserve Estimate –
December 2016(1-5)
Category
|
Tonnes
(millions)
|
Gold
(g/t)
|
Silver
(g/t)
|
Contained
|
|
Gold
(million
oz)
|
Silver
(million
oz)
|
||||
Proven
|
3.3
|
14.5
|
12.9
|
1.6
|
1.4
|
Probable
|
12.3
|
16.5
|
11.3
|
6.5
|
4.5
|
Total
|
15.6
|
16.1
|
11.1
|
8.1
|
5.9
|
(1) The
Mineral Reserves and Resources in this news release were estimated
using the Canadian Institute of Mining, Metallurgy and Petroleum
(CIM), CIM Standards on Mineral Resources and Reserves, Definitions
and Guidelines prepared by the CIM Standing Committee on Reserve
Definitions and adopted by CIM Council.
(2) Contained metal figures and totals may differ due to rounding
of figures.
(3) A
94% tonnage recovery is used
(4)
Assumptions used include US$1,100 per ounce of gold US$17 per ounce
of silver and a $0.92 CAD/US exchange rate
(5) A
NSR cut-off of CAD$180/tonne was used to optimize the
stopes
Construction and
development continues on schedule for commissioning of the
underground mine in mid-2017.
Following the full
enclosure of the mill building in October, internal construction
has progressed significantly. Over 45% of the internal structural
steel is now complete and concrete continues to be poured and is
over 80% complete. Concrete is currently being poured in the gold
recovery area and the truck drive through bay. All major equipment
continues to be delivered according to schedule including the
flotation concentrator which is now on site. Flotation tanks and
tailings thickener are being assembled and the process and fire
water tanks have been installed. The SAG and ball mills sole plates
are now in place and grouted and ready for mill shells
installation. SAG mill bearing housings have been installed.
Transformers have been installed within the mill. Electrical and
mechanical contractors are now on site, and electric and piping
installation has been initiated in the mill and
underground.
The
330-person camp which includes mine dry, offices, recreation
facilities, dining hall and kitchen is substantially complete and
fully operational.
The
transmission line construction continues to progress towards
completion. All of the towers are in place and the first 42
kilometers of the 57-kilometer transmission line is now energized
to the Knipple substation. The first of the three wire conductors
of the final 15 kilometers have been strung and the second is
approximately 60% strung. The transmission line is expected to be
fully energized early next year, ahead of when it is required for
mine commissioning. An additional six diesel generators have been
delivered to site and three of the six generators are fully
commissioned. The generators will provide more than adequate power
to maintain full mill and underground production in the event of
any transmission line failure.
The
main portal access for the Valley of the Kings has broken through
to surface and the steel structure of the portal building is under
construction. The portal will serve as the primary access point to
convey the gold ore from the underground crusher to the
mill.
2
Underground
development remains on schedule and crews are advancing at an
average rate of over 30 meters per day. Excavation of the
major infrastructure is now complete including the crusher and
transfer area. The third and final vent raise has broken through to
surface. Underground work is focused on continued ramp and level
development with seven mining stopes now accessible. Concrete and
slab installation for the underground crusher and transfer tower
continue to progress. Approximately 30,000 tonnes of ore has been
stockpiled in preparation for mill commissioning expected to start
in mid-2017.
Russell
Pennell, B.A.Sc., P.Eng., Senior Mining Engineer, Pretium Resources
Inc. is the Qualified Person (“QP”) responsible for
Reserve estimate and mine plan for the Brucejack Project. Lyle
Morgenthaler, B.A.Sc., P.Eng., Chief Mining Engineer, Pretium
Resources Inc. is the Qualified Person (“QP”)
responsible for Brucejack Project development.
Senior Management Changes
With
the achievement of key 2016 milestones to advance the Brucejack
Project to production in 2017, Pretivm has realigned its senior
leadership talent to support the next phase in the company’s
growth.
Effective
January 1, 2017, Robert Quartermain will assume the role of
Executive Chair and Joseph Ovsenek will assume the role of
President and Chief Executive Officer. Mr. Ovsenek joined Pretivm
at its formation, and has been managing the daily operations of the
Company since he was appointed President in May 2015.
“Since
the discovery of the Valley of the Kings just over five years ago,
we have completed significant milestones to advance the Brucejack
Project in 2016, with construction of the site facilities, a
57-kilometer powerline, 8200 metres of underground development,
proven reserves for the first three years of mine life, and the
hiring of over 300 permanent mine site employees,” said Chair
Robert Quartermain. “The transition in senior roles is a
natural progression of leadership and I look forward to continuing
to support Joe and the team as we advance the Brucejack
Project to
production.”
As
founder of Pretivm, Mr. Quartermain will continue to be actively
engaged at the Company with a focus on corporate strategic
planning, and ensuring effective communication and relationships
between the Company and its stakeholders.
About Pretivm
Pretivm
is constructing a high-grade underground gold mine at its Brucejack
Project in northern British Columbia with commercial production
targeted for 2017.
For
further information contact:
Joseph Ovsenek | Troy Shultz |
President | Manager, Investor Relations & |
|
Corporate Communications |
3
Pretium
Resources Inc.
Suite
2300, Four Bentall Centre, 1055 Dunsmuir Street
PO Box
49334 Vancouver, BC V7X 1L4
(604)
558-1784
(877)
558-1784
(SEDAR
filings: Pretium Resources Inc.)
Forward-Looking
Statements
This
News Release contains “forward-looking information” and
“forward looking statements” within the meaning of
applicable Canadian and United States securities legislation.
Statements contained herein that are not based on historical or
current fact, including without limitation statements containing
the words “anticipates,” “believes,”
“may,” “continues,”
“estimates,” “expects,” and
“will” and words of similar import, constitute
“forward-looking statements” within the meaning of the
U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking information may include, but is not limited to,
information with respect to our planned exploration and development
activities, the accuracy of our mineral resource estimates; capital
and operating cost estimates; production and processing estimates;
the results, the adequacy of Pretivm's financial resources, the
estimation of mineral reserves and resources including the 2016
Valley of the Kings Mineral Resource estimate and the Brucejack
Mineral Reserve estimate, realization of mineral reserve and
resource estimates and timing of development of Pretivm's Brucejack
Project, costs and timing of future exploration, results of future
exploration and drilling, production and processing estimates,
capital and operating cost estimates, timelines and similar
statements relating to the economic viability of the Brucejack
Project, timing and receipt of approvals, consents and permits
under applicable legislation, Pretivm's executive compensation
approach and practice, and adequacy of financial resources.
Wherever possible, words such as “plans”,
“expects”, “projects”,
“assumes”, “budget”,
“strategy”, “scheduled”,
“estimates”, “forecasts”,
“anticipates”, “believes”,
“intends”, “targets” and similar
expressions or statements that certain actions, events or results
“may”, “could”, “would”,
“might” or “will” be taken, occur or be
achieved, or the negative forms of any of these terms and similar
expressions, have been used to identify forward-looking statements
and information. Statements concerning mineral reserve and resource
estimates may also be deemed to constitute forward-looking
information to the extent that they involve estimates of the
mineralization that will be encountered if the property is
developed. Any statements that express or involve discussions with
respect to predictions, expectations, beliefs, plans, projections,
objectives, assumptions or future events or performance are not
statements of historical fact and may be forward-looking
information. Forward-looking information is subject to a variety of
known and unknown risks, uncertainties and other factors that could
cause actual events or results to differ from those expressed or
implied by the forward-looking information, including, without
limitation, those risks identified in Pretivm's Annual Information
Form dated March 28, 2016 filed on SEDAR at www.sedar.com and in
the United States on Form 40-F through EDGAR at the SEC's website
at www.sec.gov. Forward-looking information is based on the
expectations and opinions of Pretivm's management on the date the
statements are made. The assumptions used in the preparation of
such statements, although considered reasonable at the time of
preparation, may prove to be imprecise. We do not assume any
obligation to update forward-looking information, whether as a
result of new information, future events or otherwise, other than
as required by applicable law. For the reasons set forth above,
prospective investors should not place undue reliance on
forward-looking information. Neither the TSX nor the NYSE has
approved or disapproved of the information contained
herein.
4
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- CIDARA Therapeutics ALERT: Bragar Eagel & Squire, P.C. is Investigating Cidara Therapeutics, Inc. on Behalf of Cidara Therapeutics Stockholders and Encourages Investors to Contact the Firm
- Banco Itaú Chile Files Material Event Notice announcing Extraordinary General Shareholders’ Meeting Agreements
- LINCOLN ALERT: Bragar Eagel & Squire, P.C. Announces that a Class Action Lawsuit Has Been Filed Against Lincoln National Corporation and Encourages Investors to Contact the Firm
Create E-mail Alert Related Categories
SEC FilingsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!