tsx, tsx-v, goldtsx, silver, junior resource

Fresh Releases Pretium Resources Inc T.PVG | Confederation Minerals Ltd V.CFM | Redstar Gold Corp V.RGC | Beaufield Resources Inc V.BFD


November 20, 2012

gold, pretium resources

Pretium reports BC Resource Estimate: 11.4M oz Gold, indicated and inferred

Pretium Resources Inc T.PVG announced a 43-101 resource estimate for the Valley of the Kings zone at its 100%-owned Brucejack Project. Indicated resources are 16.1 million tonnes grading 16.1 g/t gold and 14.2 g/t silver for 8.5 million ounces gold and 7.3 million ounces silver. Inferred resources are 5.4 million tonnes grading 17 g/t gold and 15.7 g/t silver for 2.9 million ounces gold and 2.7 million ounces silver.

Indicated gold ounces represent a 66% increase over the September 7, 2012, estimate. Pretium plans a 2Q 2013 feasibility study.

Robert Quartermain

Michelle Romero
Corporate Relations Director

gold, confederation, ontario
gold, redstar gold, ontario
Confederation, Redstar report Ontario Gold Assays up to 9 g/t over 10m

Confederation Minerals Ltd V.CFM and Redstar Gold Corp V.RGC announced assay results from their Newman Todd gold property near Red Lake, Ontario. Highlights include

9 g/t gold over 10 metres
(including 60.7 g/t gold over 1 metre)
5.73 g/t gold over 4 metres
(including 18.8 g/t gold over 1 metre)
1.57 g/t gold over 11 metres
4.58 g/t gold over 6 metres
(including 14 g/t gold over 1 metre)
1.14 g/t gold over 13 metres
(including 6.25 g/t gold over 1 metre)
2.11 g/t gold over 9 metres
(including 5.7 g/t gold over 1 metre)
1.75 g/t gold over 12 metres
(including 4.17 g/t gold over 1 metre)
1.96 g/t gold over 14 metres
32.65 g/t gold over 2.5 metres
(including 158 g/t gold over 0.5 metres)
3.8 g/t gold over 8 metres
(including 8.95 g/t gold over 3 metres)

Confederation President Brian Bapty commented, “These latest results, which include wide high-grade intervals, further support our geological interpretations and show significant continuity to the gold mineralization. While the structural controls are complex, each new hole is providing the information required for a more coherent picture of the style of gold mineralization in this very large mineralized system. Most importantly, results from drilling at Newman Todd have consistently supported management’s opinion that Newman Todd possesses the geological and geochemical criteria to potentially evolve into a significant mesothermal-class gold deposit.”

Redstar President/CEO Bob Singh commented, “We are very pleased that our partner is completing the work necessary to produce a PEA. A positive PEA on this project will be a significant step forward in advancing this new high-grade gold discovery. These latest results from within the Hinge Zone area have shown remarkable continuity to the gold system. We look forward to continued excellent results from drilling on this project and are excited to see it taken to the next level.”

Confederation is the operator and will earn 50% of the project from Redstar Gold V.RGC after spending $5 million on exploration and paying Redstar $250,000 and 500,000 shares. Confederation has met the exploration requirement and paid Redstar $100,000 and 200,000 shares. Confederation may increase its share of the project to 70% by issuing a preliminary economic assessment (PEA) by November 2016.

Confederation Minerals Ltd
Brian Bapty

Redstar Gold Corp
Tim Mikula
Business Development

See here for a Resources Wire interview with Brian Bapty

iron, beaufield, quebec

Beaufield reports Quebec Iron Ore Assays up to 43.75% over 76.5m

Beaufield Resources Inc V.BFD announced assays results from 22 drillholes at its 100%-owned Schefferville iron ore property, located near Schefferville, Quebec. Highlights include

34.04% iron over 53 metres
30.81 % iron over 150 metres
36.04 % iron over 106.7 metres
39.16% iron over 80.5 metres
36.11% iron over 127 metres
38.66% iron over 99 metres
35.53% iron over 88.5 metres
43.75% iron over 76.5 metres
32.79% iron over 75 metres
34.24% iron over 147 metres
32.75% iron over 51.2 metres
31.23% iron over 51.25 metres
37.19 % iron over 45.1 metres

President/CEO Kevin Weston commented, “These drill results surpass our expectations as they are indicative that the property hosts enriched iron formations with substantial widths throughout our claim holdings. Beaufield is anxious to return to Schefferville to follow up on these results, and the remaining nine targets interpreted from the airborne gravity and high resolution magnetic survey. Of the untested targets, we consider three of them to be the best anomalies on the property and may require reverse circulation drilling to be properly tested.”

Kevin Weston

See here for a Resources Wire feature story about Beaufield Resources

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