HOME PAGE SUBSCRIPTIONS, Print Editions, News Bulletin PRODUCTS READ MINING NEWS ARCHIVE ADVERTISING EVENT READ THE PETROLEUM NEWS, EXTENSIVE ARCHIVES!

Providing coverage of Alaska and Northwest Canada's mineral industry
November 2017

Vol. 22, No. 47 Week of November 19, 2017

Mining News: Brucejack gold costs low, heading lower

Pretium Resources Inc. Nov. 10 reported that it produced 82,203 ounces of gold and 83,233 oz of silver at its Brucejack Mine during the third quarter. Commercial production at this northwestern British Columbia operation began on July 1 and during the first month of operation the mill feed was predominantly from low-grade stockpiles and development muck. As the mine ramp-up progressed, more stope ore was fed directly to the mill which improved production results. The mill processed 261,262 metric tons of this material during the quarter, which equates to roughly 2,840 metric tons per day. The material processed averaged 10.5 grams per metric ton gold and recovery was 96.5 percent. We continue to review the mill process to optimize recoveries. With the mill now exclusively processing stope ore, gold production has increased. Pretium said all of the main operating units in the mill building are performing as expected, and the plant is consistently operating at or above nameplate capacity of 2,700 metric tons per day. The company sold 55,413 oz of gold at US$1,281/oz during the third quarter, generating US$71 million in revenue. The company also received US$300,000 from the sale of 19,846 oz of silver during the quarter. Production costs for the three months ended Sept. 30 were US$33.9 million. Pretium also incurred US$1.8 million in selling costs and US$1.1 million in royalty expense during the quarter. Total cash costs for the third quarter were US$656/oz of gold sold. Pretium expects that higher sales will bring these costs down during the final quarter of 2017. The all in sustaining costs per ounce of Brucejack gold sold during the third quarter were US$788.

Pretium’s 2017 regional grassroots exploration program was designed to follow-up on priority areas identified on the Brucejack property as far as 20 kilometers (12.5 miles) east of the Brucejack Mine. Prospecting, sampling, surveying and mapping completed as part of the program were delayed due to the late snow melt. Results from the field work will be used to refine drill targets for 2018.

–SHANE LASLEY






Mining News North - Phone: 1-907 522-9469 - Fax: 1-907 522-9583
Publisher@MiningNewsNorth.com --- http://www.miningnewsnorth.com ---
S U B S C R I B E

Copyright Petroleum Newspapers of Alaska, LLC (North of 60 Mining News)(Petroleum News Bakken)(Petroleum News)(PNA)©2013 All rights reserved. The content of this article and web site may not be copied, replaced, distributed, published, displayed or transferred in any form or by any means except with the prior written permission of Petroleum Newspapers of Alaska, LLC (Petroleum News)(PNA). Copyright infringement is a violation of federal law subject to criminal and civil penalties.