Franco-Nevada

Brucejack (Au & Ag)

Brucejack

LOCATION: British Columbia, Canada
OPERATOR: Pretium Resources Inc.
ROYALTY: NSR: 1.2%

In May 2013, Franco-Nevada purchased an existing 1.2% NSR royalty covering Pretium Resources Inc.’s (“Pretium”) Brucejack gold project in northwestern British Columbia. The project includes two principal deposits, the Valley of the Kings and the West Zone.

Pretium poured first gold from the Brucejack project in June 2017 and achieved commercial production in July 2017. Brucejack produced 347,743 ounces of gold in 2020 versus 354,405 ounces of gold in 2019. Gold production for 2021 is expected in the range of 325,000 to 365,000 ounces with the average annual gold grade ranging from between 7.5 grams per tonne to 8.5 grams per tonne at a targeted gold recovery of 97%.

Pretium released an updated Mineral Resource and Reserve estimate and an accompanying life of mine plan at the end of March 2020. Pretium’s guidance states a life of mine average annual gold production of approximately 311,000 ounces of gold with a 13-year mine life.

For 2021, two exploration programs are planned: a definition and expansion program adjacent to the Brucejack mine infrastructure and a near-mine exploration program to focus on the new discovery at Hanging Glacier (on royalty ground). Additional near-mine exploration will focus on the 4 km trend of highly-altered rocks which outcrop from Hanging Glacier Zone northwest of the Brucejack mine to Bridge Zone located southeast of the mine. In December 2020, Pretium sold the Snowfield property (not on royalty ground) to a subsidiary of Seabridge Gold Inc.

ASSET HIGHLIGHTS

  • 2021 production expected to be between 325,000 to 365,000 ounces
  • Definition drilling and near-mine exploration programs
  • Hanging Glacier discovery on royalty ground

2020 2019 2018
Revenue to Franco-Nevada ($ million) $ 7.2 $ 5.6 $ 0.3
Brucejack map