RUA GOLD Commences Exploration Program at the Glamorgan Project on the North Island of New Zealand.

RUA GOLD Commences Exploration Program at the Glamorgan Project on the North Island of New Zealand.

Rua Gold Inc. (CSE: RUA) (OTC: NZAUF) (WKN: A4010V) ("Rua Gold" or the "Company") is pleased to announce that the Company has received its drone concession from the Department of Conservation ("DoC") for its Glamorgan Project, located on the North Island of New Zealand and situated 2.8km north of OceanaGold's Wharekirauponga Project ("WKP"). The exploration team has mobilized, and magnetic geophysical surveys are underway.

  • Rua Gold has a well-funded exploration program allocated to the Glamorgan Project.
  • The Company has applied for minimum impact access from DoC, to allow soil sampling, resistivity geophysical surveys and geological mapping, expected to be received in Q2 2024.
  • Following this surface exploration work, the Company will design the drill program and apply for full access to commence exploration drilling by the end of the year.
  • On May 5, 2024, OceanaGold included the accelerated development of WKP in New Zealand's newly introduced Fast Track Approvals Bill, creating a road map for Rua Gold . ( https://www.beehive.govt.nz/release/one-stop-shop-major-projects-fast-track ).

Robert Eckford , CEO commented: "This is a great first step to have boots on the ground at our Glamorgan Project and enabling us to start surface exploration work, so we are ready for drilling by the end of the year. The continuous exceptional results coming from OceanaGold's WKP project are extremely encouraging, and we see the exact same surface features at our Glamorgan Project. The geology in this epithermal region is exceptional and we have mobilized a highly experienced operating team with a lot of region specific experience".

More information can be found at the Company's website: www.ruagold.com .

About Glamorgan:

Rua Gold's Glamorgan Project comprises of over 4,600 hectares in the Hauraki district, on the North Island of New Zealand . Lying 2.8km from OceanaGold's most significant pipeline project, WKP, which has Indicated resources of 1.01 Moz at 15.9 g/t 1 , the near-ology makes this a very compelling exploration target. The area has produced over 15M ounces of gold and 60 million ounces of silver. Surface work is underway and access permissions have been submitted.

Rua Gold's Chief Operating Officer, Simon Henderson had previously joint-ventured both the Glamorgan Project and WKP Project and was a member of the exploration team that led to its discovery.

The Company is excited about the potential within this permit where previous exploration has outlined a zone of silicification, veining and alteration with > 50 ppb gold in soils over its 3.8km length, and rock samples in the vicinity returning up to 95g/t gold. These exhibit classic features of an epithermal gold mineralized system.

1 Based on OceanaGold's reported Resources and Reserves for the year ended 2023, see February 21, 2024 news release for more details.

About Rua Gold

Rua Gold (CSE: RUA, OTC: NZAUF, WKN: A4010V) is a new entrant to the mining industry, specializing in gold exploration and discovery in New Zealand . With permits that have a rich history dating back to the gold rush in the late 1800's, Rua Gold combines traditional prospecting practices with modern technologies to uncover and capitalize on valuable gold deposits.

The Company is committed to responsible and sustainable exploration, which is evident in its professional planning and execution. The Company aims to minimize its environmental impact and to execute on its projects with key stakeholders in mind. Rua Gold has a highly skilled team of New Zealand professionals who possess extensive knowledge and experience in geology, geochemistry, and geophysical exploration technology.

For further information, please refer to the Company's disclosure record on SEDAR+ at www.sedarplus.ca .

Technical Information

Simon Henderson CP, AUSIMM, a qualified person under National Instrument 43-101 Standards of Disclosure for Mineral Projects , has reviewed and approved the technical disclosure contained herein.

This news release includes certain statements that may be deemed "forward-looking statements". All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur and specifically include statements regarding: the Company's strategies, expectations, planned operations or future actions, including but not limited to exploration and drilling programs at its Glamorgan project; and the Company's expected receipt of permits or other regulatory approvals. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements.

Investors are cautioned that any such forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. A variety of inherent risks, uncertainties and factors, many of which are beyond the Company's control, affect the operations, performance and results of the Company and its business, and could cause actual events or results to differ materially from estimated or anticipated events or results expressed or implied by forward looking statements. Some of these risks, uncertainties and factors include: general business, economic, competitive, political and social uncertainties; risks related to the effects of the Russia - Ukraine war; risks related to climate change; operational risks in exploration, delays or changes in plans with respect to exploration projects or capital expenditures; the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; changes in labour costs and other costs and expenses or equipment or processes to operate as anticipated, accidents, labour disputes and other risks of the mining industry, including but not limited to environmental hazards, flooding or unfavourable operating conditions and losses, insurrection or war, delays in obtaining governmental approvals or financing, and commodity prices. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements and reference should also be made to the Company's annual information form dated April 19, 2024 , filed under its SEDAR+ profile at www.sedarplus.ca for a description of additional risk factors.

Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

SOURCE Rua Gold Inc.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2024/23/c0803.html

News Provided by Canada Newswire via QuoteMedia

RUA:CNX
The Conversation (0)
RUA GOLD Closes C$8 Million Brokered Offering and Announces Commencement of Trading on the TSX Venture Exchange

RUA GOLD Closes C$8 Million Brokered Offering and Announces Commencement of Trading on the TSX Venture Exchange

This news release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States . Highlights Closing the fully subscribed brokered offering for C$8 million of gross proceeds Conditional listing approval... Keep Reading...
Canadian Investment Regulatory Organization Trade Resumption - RUA

Canadian Investment Regulatory Organization Trade Resumption - RUA

Trading resumes in: Company: Rua Gold Inc. CSE Symbol:RUA All Issues: Yes Resumption (ET): 8:00 AM CIRO can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. CIRO is... Keep Reading...
RUA GOLD Announces C$8 Million Brokered Offering of Common Shares

RUA GOLD Announces C$8 Million Brokered Offering of Common Shares

This news release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States . Rua Gold Inc. (CSE: RUA) (OTCQB: NZAUF) (WKN: A4010V) (" Rua Gold " or the " Company ") is pleased to announce that it has... Keep Reading...
Clarification: Historical Mineral Resource Estimate at Reefton

Clarification: Historical Mineral Resource Estimate at Reefton

Rua Gold Inc. (CSE: RUA) (OTC: NZAUF) (WKN: A4010V) (" Rua Gold " or the " Company ") provides a clarification in relation to its news release of July 15, 2024 (" Rua Gold to acquire Siren Gold's Reefton assets and become the dominant Reefton Goldfield explorer "). Previously, the Company... Keep Reading...
RUA GOLD permit and access extended for five years at the high grade Reefton Project and the Company targets Murray Creek in the near-mine drilling program

RUA GOLD permit and access extended for five years at the high grade Reefton Project and the Company targets Murray Creek in the near-mine drilling program

Rua Gold Inc. (CSE: RUA) (OTCQB: NZAUF) (WKN: A3DB6A) ("Rua Gold" or the "Company") is pleased to provide an exploration update for the Reefton Project on the South Island of New Zealand . Permit and Land Access Agreements for drilling have been extended for a further 5 years The Company's... Keep Reading...
Heliostar Presents Stronger Economics at the La Colorada Mine in Updated Technical Report

Heliostar Presents Stronger Economics at the La Colorada Mine in Updated Technical Report

Technical Report Highlights: Base Case shows US$66.2M post tax NPV5, 24.4% IRR, with a payback multiple of 1.9 at a US$2,300/oz gold price Upside Case shows US$243.3M post tax NPV5, 168.4% IRR, with a payback multiple of 8.4 at a US$3,500/oz gold price 286k ounces of gold produced at an AISC of... Keep Reading...
Apollo Files NI 43-101 Technical Report for the Calico Silver Project Updated Mineral Resource Estimate

Apollo Files NI 43-101 Technical Report for the Calico Silver Project Updated Mineral Resource Estimate

Apollo Silver Corp. ("Apollo" or the "Company") (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF) is pleased to announce that it has filed the independent technical report for the updated Mineral Resource Estimate ("MRE") for the Calico Silver Project ("Calico" or the "Calico Project"). The report titled... Keep Reading...
NevGold Discovers High-Grade Oxide Antimony "Bullet Zone" From Surface with 2025 Step-Out Drilling: 14.90 g/t AuEq Over 4.6 Meters  Within 2.42 g/t AuEq Over 53.3 Meters  at Limo Butte, Nevada

NevGold Discovers High-Grade Oxide Antimony "Bullet Zone" From Surface with 2025 Step-Out Drilling: 14.90 g/t AuEq Over 4.6 Meters Within 2.42 g/t AuEq Over 53.3 Meters at Limo Butte, Nevada

Nevgold Corp. (" NevGold " or the " Company ") ( TSXV:NAU,OTC:NAUFF) (OTCQX:NAUFF) (Frankfurt:5E50 ) is pleased to announce the discovery of high-grade oxide antimony in the new antimony-gold "Bullet Zone" from surface at its Limousine Butte Project (the "Project", "Limo Butte") in Nevada. The... Keep Reading...
Locksley Resources Limited  Rice University DES Processing Technology Update

Locksley Resources Limited Rice University DES Processing Technology Update

Perth, Australia (ABN Newswire) - Locksley Resources Ltd (ASX:LKY,OTC:LKYRF) (FRA:X5L) (OTCMKTS:LKYRF), is pleased to provide an update on the advanced research program underway at Rice University in Houston, Texas. HIGHLIGHTS - Rice University advancing identification of the Deep Eutectic... Keep Reading...
Nine Mile Metals Announces Phase 2 XRF High-Grade Results up to 17.41% Copper from the Upcoming Drill Area at the Wedge Project, Bathurst, New Brunswick

Nine Mile Metals Announces Phase 2 XRF High-Grade Results up to 17.41% Copper from the Upcoming Drill Area at the Wedge Project, Bathurst, New Brunswick

Nine Mile Metals LTD. (CSE: NINE,OTC:VMSXF) (OTCQB: VMSXF) (FSE: KQ9) (the "Company" or "Nine Mile") is pleased to announce (35) Wedge Phase 2 - XRF results for volcanogenic massive sulphide (VMS) mineralization ore samples collected from the upcoming northwestern drill area on the Wedge VMS... Keep Reading...
Theia Infill Drilling - Broad Zones of High-Grade Gold

Theia Infill Drilling - Broad Zones of High-Grade Gold

Astral Resources (AAR:AU) has announced Theia Infill Drilling - Broad Zones of High-Grade GoldDownload the PDF here. Keep Reading...

Latest Press Releases

Related News