Rua Gold Responds to OTC Markets Request on Recent Promotional Activity

Rua Gold Responds to OTC Markets Request on Recent Promotional Activity

Rua Gold Inc. (TSXV: RUA) (OTCQB: NZAUF) (WKN: A4010V) ("Rua Gold" or the "Company") announces that it has been requested by OTC Markets Group Inc. ("OTC Markets") to issue this statement about promotional activity concerning its common shares (the "Shares") traded on the OTCQB Venture Market ("OTCQB") (operated by OTC Markets).

On October 21, 2024, OTC Markets informed the Company that it became aware of certain promotional activities concerning the Company and its Shares traded on the OTCQB, including the distribution of four email newsletters (the "Promotional Newsletters") published by Wealth Research Group LLC, an affiliate of Gold Standard Media, LLC ("Gold Standard"), Portfolio Wealth Global, an affiliate of Gold Standard, SHTFPlan.com, an affiliate of Gold Standard, and Future Money Trends LLC, an affiliate of Gold Standard, discussing the Company, its business, the economy, and the gold market generally.

On April 15 and October 11, 2024, the Company entered into advertising agreements with Gold Standard, whereby Gold Standard, along with its affiliates, Wealth Research Group LLC, Portfolio Wealth Global, SHTFPlan.com and Future Money Trends LLC, would provide investor relations and advertising services to the Company. The Company was therefore aware of Wealth Research Group LLC's, Portfolio Wealth Global's, SHTFPlan.com's and Future Money Trends LLC's promotional activities respecting the Company since April 15, 2024. Accordingly, the Promotional Newsletters were paid for by the Company through its engagement of Gold Standard.

The engagement of Gold Standard, the nature of the relationship between the Company and Gold Standard, as well as the compensation paid to Gold Standard, was publicly disclosed in news releases on April 17, 2024 and October 15, 2024, which can be found under the Company's profile on SEDAR+ (www.sedarplus.ca) and on the Company's website (www.RUAGOLD.com).

The Company provided Gold Standard with publicly available sources of information for its marketing materials and management reviewed and approved the materials prepared by Gold Standard prior to their dissemination, including to ensure factual accuracy. The Company does not believe the statements in the Promotional Newsletters were materially false or misleading. However, the Company notes that investing in the Company's securities involves certain risks and uncertainties which investors should review prior to making any investment decision. The Company encourages all investors to undertake proper due diligence and carefully consider all investment decisions. The Company directs potential investors to rely solely on its filings and disclosures made with the Canadian Securities Administrators, available at www.sedarplus.ca.

After inquiry of management, other than as disclosed herein, no directors and control persons, its officers, directors or controlling shareholders, or any third-party service providers have, directly or indirectly, been involved with the creation, distribution, or payment of promotional materials related to the Company and its securities.

An increase in the trading volume of the Shares was noted by the OTC Markets on October 21, 2024. The trading volume of 2,460,858 represented approximately 3.4% of the total volume of 73 million shares traded over the past 12 months in Canada. The Company understands certain promotional activity coincided with increased trading activity in its Shares beginning on October 21, 2024. However, the Company does not believe the promotional activities were the sole or primary factor in any increase in trading volume of its Shares. Rather, there are many other factors including the active exploration and development and acquisition of mineral properties over the past 12 months and press releases that are likely to affect trading activity of the Shares generally, which may include, but are not limited to:

  1. https://ruagold.com/rua-gold-provides-an-update-on-previously-announced-acquisition-of-siren-golds-reefton-assets/

  2. https://ruagold.com/rua-golds-drill-program-intersects-near-surface-gold-at-the-reefton-project/

Except as disclosed below, after inquiry of management, its officers, directors, any controlling shareholders, or any third-party service providers, the Company is not aware of any purchases or sales of the Shares in the past 90 days:

  • Robert Eckford, Chief Executive Officer of the Company, acquired 555,556 Shares at $0.18 per Share on July 25, 2024, and 40,000 Shares at $0.155 per Share on September 18, 2024;

  • Mario Vetro, a director of the Company, acquired 111,112 Shares at $0.18 per Share on July 25, 2024;

  • Tyron Breytenbach, a director of the Company, acquired 55,556 Shares at $0.18 per Share on July 25, 2024;

  • Paul Criddle, Chairman of the Company, acquired 111,112 Shares at $0.18 per Share on July 25, 2024;

  • Oliver Lennox-King, a director of the Company, acquired 1,388,889 Shares at $0.18 per Share on July 25, 2024; and

  • Zeenat Lokhandwala, Chief Financial Officer and Corporate Secretary of the Company, acquired 416,667 Shares at $0.18 per Share on July 25, 2024.

The Company has engaged the following third-party service providers to provide investor relations services, public relations services, marketing, or other related service within the last twelve months: MMG Market Medium GmbH & Co. KG (February 27, 2024), NAI Interactive Ltd. (April 4, 2024), Triomphe Holdings Ltd. dba Capital Analytica (February 29, 2024), Dig Media Inc. dba Investing News Network (April 16, 2024), Direct to Investor Media , LLC (February 27, 2024), Gold Standard Media, LLC (April 15, 2024 and October 11, 2024), Junior Mining Networking, LLC (April 8, 2024), and 2686362 Ontario Corporation dba CanaCom Group (August 12, 2024).

Other than pursuant to financings and acquisition transactions in accordance with TSX Venture Exchange policies, which the Company has publicly disclosed in news releases (available at: www.sedarplus.ca), including the public offering of Shares completed on July 25, 2024, the Company has not issued Shares, or convertible instruments allowing conversion to equity securities, at prices constituting, at the time of issuance of such shares or convertible instruments, a discount to the then current market price.

About Rua Gold

Rua Gold (TSXV: RUA) (OTCQB: NZAUF) (WKN: A4010V) is a new entrant to the gold mining space, specializing in gold exploration and discovery in New Zealand. Upon closing of the transaction with Siren Gold Limited announced in July 2024, the Company will have permits enveloping 90% of the Reefton Goldfield in New Zealand's South Island. This district has a rich history dating back to the gold rush in the late 1800s. The Company also has a highly prospective tenement package in the North Island, located within 3 kms of OceanaGold's biggest pipeline project, Wharekirauponga. 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.

Rua Gold Contact

Robert Eckford
Chief Executive Officer
Email: reckford@RUAGOLD.com
Website: www.RUAGOLD.com

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/227625

News Provided by Newsfile via QuoteMedia

RUA:CC
Rua Gold

Rua Gold Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Rua Gold

Rua Gold


Keep reading...Show less
RUA GOLD Provides an Update on Previously Announced Acquisition of Siren Gold's Reefton Assets

RUA GOLD Provides an Update on Previously Announced Acquisition of Siren Gold's Reefton Assets

Rua Gold Inc. (TSXV: RUA) (OTCQB: NZAUF) (WKN: A4010V) ("Rua Gold" or the "Company") is pleased to provide an update on the previously announced acquisition of Reefton Resources Pty Limited ("Reefton"), a 100% owned subsidiary of Siren Gold Ltd. (ASX: SNG) ("Siren") with tenements located adjacent to the Company's suite of properties in New Zealand's prolific Reefton Goldfield (the "Transaction").

The Company and Siren have agreed to amend the terms of Transaction whereby Rua Gold agrees to purchase 10,000,000 common shares of Siren at a price of A$0.20 per share, for aggregate gross proceeds of A$2,000,000.

The Company highlights that the following conditions have been satisfied:
  • Rua Gold shareholders have voted in favor of the transaction

 

Robert Eckford, CEO of Rua Gold, stated: "This is an exciting stage for Rua Gold shareholders, Siren Gold shareholders, and the Reefton Goldfields community. Our merger presents a prime opportunity to establish a high-grade gold and antimony exploration company ready to deliver value through its drilling program planned on this land package. We will be looking at a combination of new discoveries alongside the scalability of historic high-grade mines to become a leading gold producer in the region. New Zealand's mining industry is experiencing a resurgence, supported by local and foreign investment, as well as a pro-mining government implementing streamlined policies. The resulting improvements in regional infrastructure and employment will transform the West Coast and benefit all of New Zealand."

Transaction Highlights

Under the terms of the Amended Agreement, Siren shall receive total consideration of A$22 million (C$20.4 million):

  • A$2 million (C$1.8 million) in cash, of which A$1 million has been paid and the remaining A$1 million will be paid at the close of the Transaction;

  • A$2 million (C$1.8 million) in cash in exchange for 10,000,000 common shares of Siren, to be exchanged at the close of the Transaction; and

  • 83,927,383 fully paid shares of Rua Gold representing A$18 million (C$16.6 million1), to be issued at the close of the Transaction with agreed contractual resale restrictions.

Upon completion of the Transaction, Siren will own ~26% of Rua Gold, and Siren Chairman, Mr. Brian Rodan, will join the Rua Gold Board. The Transaction will deliver the following benefits to the Company's shareholders:

  • Increased scale and resources by combining projects and exploration teams.

  • Increased exposure to the highly prospective and under-explored Reefton Goldfield, as the largest landholder in the district with approximately 120,000 ha of combined tenements.

  • Improved investor visibility and positioning amongst peers, with the opportunity to broaden the Company's shareholder base.

  • Potential for future operational synergies (i.e., centralized infrastructure and workforce) by realizing economies of scale across the whole land package.

  • Continued exposure to the Company's highly prospective asset, Glamorgan on the North Island of New Zealand.

Transaction Update Details

The Company has obtained approval from its shareholders concerning the Transaction.

In addition, on October 17, 2024, the Company obtained consent from the NZPAM to the change of control of Reefton's exploration permits as a consequence of the Transaction.

The Company is working to satisfy the TSXV requirements for the Transaction under section 5.7 of TSXV Policy 5.3. To obtain final approval from the TSXV, the Company will submit a National Instrument 43-101 compliant independent report and a financial plan demonstrating that the Company has sufficient financial resources to close the Transaction and to fund the first stage of the recommended work program and property payment obligations for a minimum of six months.

The transaction agreements governing the acquisition of Reefton and evidence of disinterested shareholder approval of the Company have been filed with the TSXV. A legal title opinion confirming Siren's authority to transfer the Reefton project will also be required. Final closing will be subject to the TSXV's clearance of these requirements.

About Rua Gold

Rua Gold is an exploration company, strategically focused on New Zealand. With decades of expertise, our team has successfully taken major discoveries into producing world-class mines across multiple continents. The team is now focused on maximizing the asset potential of RUA's two highly prospective high-grade gold projects.

The Company controls the Reefton Gold District as the dominant landholder in the Reefton Goldfield on New Zealand's South Island. Rua Gold will have approximately 120,000 hectares of tenements, following the completion of its previously announced acquisition of Reefton Resources Pty Limited2, in a district that historically produced over 2 million ounces of gold grading between 9 and 50 grams per tonne.

The Company's Glamorgan Project solidifies Rua Gold's position as a leading high-grade gold explorer on New Zealand's North Island. This highly prospective project is located within the North Islands' Hauraki district, a region that has produced an impressive 15 million ounces of gold and 60 million ounces of silver. Glamorgan is within 3 kms of OceanaGold Corporation's biggest gold mining project, WKP.

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

Rua Gold Contact

Robert Eckford

Chief Executive Officer

Tel: +1 604 655 7354

Email: reckford@RUAGOLD.com

Website: www.RUAGOLD.com

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 programs at its Reefton project and the results thereof; and the Company's acquisition of Reefton Resources Pty Limited. 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 CSE Form 2A - Listing Statement 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.

________________________

1 Calculated using Rua Gold's 30-day VWAP on the CSE as of July 12, 2024 of C$0.1983 at an AUD:CAD exchange rate of 0.9246.
2 Refer to news released dated July 15, 2024.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/227207

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
RUA GOLD's Drill Program Intersects near Surface Gold at the Reefton Project

RUA GOLD's Drill Program Intersects near Surface Gold at the Reefton Project

Rua Gold Inc. (TSXV: RUA) (OTCQB: NZAUF) (WKN: A4010V) ("Rua Gold" or the "Company") is pleased to provide an update from the drilling campaign underway at the Reefton Project on the South Island of New Zealand.

The Company commenced its near mine drill program on the Murray Creek targets in July. A second drill rig was introduced in September to test the Capleston vein system. These historic mines collectively produced ~700koz of gold at 25.2g/t within a radius of ~20 kilometers.

Robert Eckford, CEO of Rua Gold commented: "Our five years of meticulous surface exploration work over the Reefton project is paying dividends from the outset of this drill program. Both of the initial drill holes have confirmed we are in right area and are locating these lodes. The near surface intercepts on Capleston are encouraging and makes for compelling economic ounces, it supports our thesis that the surface veins are continuous past the old workings. Despite the initial drill hole at Murray Creek hitting old workings, it is extremely encouraging that we have identified the dip angle of the Victoria lode and we have even more confidence with the subsequent hole that is underway now, and results from this will be ready in the next few weeks."

Capleston

On the second drill rig, which was introduced to test the Capleston vein system, the Company targeted an undeveloped and near-surface vein at the southern end of the two kilometer long historic Capleston project, the highest-grade producer of the Reefton Goldfield historically. Near surface targets lend themselves to early development and are the closest to transportation and infrastructure, providing low-cost operational advantages.

The first diamond drill hole, DD_REF_043, intersected a 12m zone of quartz-pyrite-arsenopyrite in the hanging wall, with a 1m quartz vein from 31m to 32m @ 3.86 g.t Au.

A legacy drill hole intercepted the southern lode at 33m downhole, with 1m @ 24g/t Au followed by 1m @ 2.5g/t Au1. Mapping has recorded historical waste samples up to 32.0g/t Au in the vicinity1, and a strong soil anomaly enveloping the vein (up to 410ppb Au).

Cannot view this image? Visit: https://images.newsfilecorp.com/files/10755/226614_a481102e54ab5af0_007.jpg

Figure 1: Capleston Section DD_REF_043, drill intersection and core highlighted

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10755/226614_a481102e54ab5af0_007full.jpg

Murray Creek

Rua Gold reports the completion of the first hole testing the down-dip extension of the Victoria lode, DD_VIC_041, which is being evaluated by the team. This intersected the targeted reef at 344m down hole and encountered historical underground workings over a 4m length. It then exited out to the footwall before drilling on for an additional 20m.

This confirms that the lode extension is accurate and, with the precise location confirmed, a second hole is underway that is 50m deeper down dip from the initial drill hole. The Company anticipates an intersection into an un-mined portion of the reef at around 350m. Results from this testing will be available in the coming weeks.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/10755/226614_a481102e54ab5af0_008.jpg

Figure 2: Cross section through the first Murray Creek drill target, Victoria

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10755/226614_a481102e54ab5af0_008full.jpg

Background

Capleston Group historical production 134,927 oz @ 49.1 g/t Au (Barry, 1993). The Capleston Group represents a 2km long vein system with a series of north-plunging shoots dipping steeply to the east. Welcome-Hopeful was the major producer (88,620 oz @ 61.4 g/t Au recovered; Barry, 1993; Figure 3). Fiery Cross was singular for its exceptionally high antimony (Figure 4).

A table of historic production in this district is included in Table 2.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/10755/226614_a481102e54ab5af0_009.jpg

Figure 3: Historical schematic of Capleston Lodes (section 90.313) c.1920, annotated to accentuate the lodes and Reform drill site.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10755/226614_a481102e54ab5af0_009full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/10755/226614_a481102e54ab5af0_010.jpg

Figure 4: Fiery Cross Battery, Capleston 1930. Image from Reefton Isite.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10755/226614_a481102e54ab5af0_010full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/10755/226614_a481102e54ab5af0_011.jpg

Figure 5: Location of Reefton Projects

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10755/226614_a481102e54ab5af0_011full.jpg

About Rua Gold

Rua Gold is an exploration company, strategically focused on New Zealand. With decades of expertise, our team has successfully taken major discoveries into producing world-class mines across multiple continents. The team is now focused on maximizing the asset potential of RUA's two highly prospective high-grade gold projects.

The Company controls the Reefton Gold District as the dominant landholder in the Reefton Goldfield on New Zealand's South Island. Rua Gold will have approximately 120,000 hectares of tenements, following the completion of its previously announced acquisition of Reefton Resources Pty Limited2, in a district that historically produced over 2 million ounces of gold grading between 9 and 50 grams per tonne.

The Company's Glamorgan Project solidifies Rua Gold's position as a leading high-grade gold explorer on New Zealand's North Island. This highly prospective project is located within the North Islands' Hauraki district, a region that has produced an impressive 15 million ounces of gold and 60 million ounces of silver. Glamorgan is within 3 kms of OceanaGold Corporation's biggest gold mining project, WKP.

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

New Investor Relations agreement - Gold Standard Media, LLC

On October 11, 2024, the Company entered into an advertising agreement with Gold Standard Media LLC ("Gold Standard") for total cash consideration of US$200,000, payable immediately. Gold Standard has agreed to provide the Company with its services to create landing pages and provide digital marketing, email marketing and influencer marketing services. Gold Standard will provide its services for a period of 90 days commencing on October 14, 2024. Gold Standard and its principals are arm's length from the Company. To the best of the Company's knowledge and as of the date hereof, certain affiliates of Gold Standard own 5,037,951 common shares in the capital of the Company. Gold Standard is a Texas-based firm and is owned by Kenneth Ameduri, Juliet Ameduri, and Lior Gantz. The Company will not issue any securities to Gold Standard as compensation for its marketing services.

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.

QAQC Drilling

The majority of drillholes were sampled in full, typically following 1-m sample intervals unless geological contacts (i.e. dolerite intrusions) dictated otherwise. NQ core was analyzed as whole core; therefore, only requiring cutting along sample intervals. PQ and HQ core were sampled as half core.

Drill core samples were sent to SGS Westport for sample preparation. Core was crushed to 75% passing 2 mm, and 1-kg split of material was pulverized (to 85% passing 75 µm). No split duplicates were collected during the crushing steps. Two scoops were taken from the pulverize bowl: one for laboratory analysis (~150 g) and the other for pXRF analysis (~100 g). The pulp reject is stored in Reefton.

Rua Gold Contact

Robert Eckford

Chief Executive Officer

Tel: +1 604 655 7354

Email: reckford@RUAGOLD.com

Website: www.RUAGOLD.com

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 programs at its Reefton project and the results thereof; and the Company's acquisition of Reefton Resources Pty Limited. 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 CSE Form 2A - Listing Statement 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.

Table 2: Historical production from mines within the Capleston Project (Barry, 1993).

LodeEastingNorthingQuartz
tonnes
Au
(kg)
Total
Production
(Au oz)
Recovered
grade
 
(oz)
Recovered
grade
(g/t)
Welcome-Hopeful1512383534226144,868.92,756.488,620.32.061.4
Fiery Cross1512133534169124,956.4869.527,955.11.134.8
Just in Time1511983534120213,754.9534.117,171.71.238.8
Reform-Imperial-South Hopeful151180353415431,698.933.31,070.60.619.6
Lone Star15118335340402243.83.4109.30.413.9

 

Source: Barry, J.M., 1993. The History and Mineral Resources of the Reefton Goldfield. Ministry of Commerce Resource Information Report No. 15.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
RUA GOLD Targets Significant Epithermal Gold System in the Hauraki Goldfield, New Zealand

RUA GOLD Targets Significant Epithermal Gold System in the Hauraki Goldfield, New Zealand

Rua Gold Inc. (TSXV: RUA) (OTCQB: NZAUF) (WKN: A4010V) ("Rua Gold" or the "Company") is pleased to provide an exploration update for its Glamorgan Project in the Hauraki Goldfield, on the North Island of New Zealand and situated 2.8km north of OceanaGold Corporation's ("OceanaGold's") Wharekirauponga Project ("WKP") which has indicated resources of 1.01 Moz at 15.9 gt1.

The Company was granted a Minimum Impact Access Agreement ("MIA") from the Department of Conservation ("DoC") for its Glamorgan Project in August 2024. Following this, the exploration team was mobilized and has made excellent progress, including:

  • collecting 2,000 of the planned 3,000 soil sample program;

  • completing the first full phase of UAV drone magnetic geophysical surveying; and

  • commencing ground geological mapping.

Based on initial surface soil geochemistry, interpreted geophysical structures, and geological mapping, there is preliminary evidence that the Glamorgan Project has the hallmarks of a significant epithermal gold system, with surface features similar to the adjacent WKP gold deposit. Further exploration work is required to confirm whether a significant epithermal gold system exists.

Following its surface exploration work, the Company will design a drill program and apply for a full Access Agreement by the end of the year to commence drilling at the Glamorgan Project.

On March 7, 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. This Bill was introduced by the New Zealand Government in March 2024, and aims to provide a streamlined 'one stop shop' decision-making process to facilitate the delivery of infrastructure and development projects, including mining projects with significant regional or national benefits.

Robert Eckford, CEO, commented: "This is pleasing progress on the ground at our Glamorgan Project, and important verification of the historical work of Newmont and OceanaGold. The preliminary evidence of an epithermal system gives strong encouragement to have drill locations selected by the end of the year. The geology in the region is exceptional, as evidenced by the results coming from OceanaGold's nearby WKP project, and we see the exact same surface features at our Glamorgan Project. We have mobilized a highly experienced operating team with decades of region-specific geological knowledge."

Geochemistry

Preliminary pXRF soil results of the initial 1083 samples show strong arsenic anomalism (max 981ppm As) in southwest and northeast zones mirroring the historical trends. Arsenic is a reliable pathfinder closely associated in many gold deposits. These results complement the data collected from previous work of Newmont and OceanaGold soil analysis. Observed surface quartz vein outcrop (recognised by the soil teams) lie central to these geochemical anomalies. Initial gold results are anticipated in late October 2024.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/10755/225438_8f300f7a042cdba9_007.jpg

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10755/225438_8f300f7a042cdba9_007full.jpg

Geological Mapping

Detailed Anaconda style geological mapping has highlighted outcropping quartz veins, breccias and silicified alteration enveloping this veining. Strong banding, quartz-adularia, quartz breccia, and platy quartz after calcite are described in situ. The range of veins, and geographic spread of the vein and alteration observed indicate exposure of a very large fossil epithermal gold system.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/10755/225438_8f300f7a042cdba9_008.jpg

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10755/225438_8f300f7a042cdba9_008full.jpg

Magnetic (UAV Drone) Surveying

Ultra detailed magnetic surveying over a 3 kilometre by 5 kilometre area has provided a glimpse of very strong northeast structural faulting, along with circular features interpreted to represent rhyolitic domes adjacent to andesite flow units. These observations on the raw total magnetic field are preliminary. As the Company works on filtering the data, they will be looking to identify features of magnetite destruction (alteration) that accompanies and envelopes significant epithermal mineralisation.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/10755/225438_8f300f7a042cdba9_009.jpg

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10755/225438_8f300f7a042cdba9_009full.jpg

Environmental Studies

Work has commenced to establish baseline environmental requirements on drill sites as we work to submit our Access Agreement to allow for drilling. This work is ongoing and will be submitted before the end of the year.

About Glamorgan

Rua Gold's Glamorgan Project comprises of over 4,600 hectares in the Hauraki district, on the North Island of New Zealand. The district has produced over 15 million ounces of gold and 60 million ounces of silver, and is home to OceanaGold's most significant pipeline project, WKP, which has indicated resources of 1.01 Moz at 15.9 g/t2.

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

Grant of Deferred Share Units

The Company also announces that it has granted an aggregate of 392,363 deferred share units ("DSUs") to non-executive directors of the Company at a deemed price of $0.169 per DSU. The DSUs were granted in consideration for services provided by the non-executive directors for the period from July 1, 2024 to September 30, 2024. The DSUs were granted under the Company's Deferred Share Unit Plan adopted on April 17, 2024, and are subject to a one-year vesting period. Each DSU entitles the holder to receive one share of the Company at the time the holder ceases to be a director of the Company.

About Rua Gold

Rua Gold is an exploration company, strategically focused on two prolific gold districts in New Zealand with proven high-grade gold deposits, with a team that has a track record of success.

The Company controls the Reefton Gold District as the dominant landholder in the Reefton Goldfield on New Zealand's South Island. Rua Gold will have approximately 120,000 hectares of tenements (upon successful completion of the purchase of Reefton Resources Pty Limited, see announcement on July 15, 2024), in a district that historically produced over 2.0 million ounces of gold grading between 9 and 50 grams per tonne.

The Company's Glamorgan Project, a highly prospective project located within the North Islands' Hauraki district. It is within 3 kms of OceanaGold's biggest gold mining project, WKP. The Hauraki district has produced an impressive 15 million ounces of gold and 60 million ounces of silver. This project solidifies Rua Gold's position as a leading high-grade gold explorer in the region.

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

QAQC Soil Samples

A bulk sample of ~0.5-1 kg was collected in the field at the Company's Waihi base, and couriered to RGL's office for preparation. Samples were dried in a customized incubator, set at 38°C, for a minimum of two days. Once the samples were fully dried, they were sieved to

A 50-100-g fine-sieved (

ALS Brisbane is independent to Rua Gold.

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.

Rua Gold Contact

Robert Eckford

Chief Executive Officer

Tel: +1 604 655 7354

Email: reckford@RUAGOLD.com

Website: www.RUAGOLD.com

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 the Glamorgan Project; and regulatory approvals therefor. 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 base shelf prospectus dated July 11, 2024 (the "Base Shelf Prospectus"), and prospectus supplement dated July 19, 2024 to the Base Shelf Prospectus, 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.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
RUA GOLD Announces New and Amended Marketing Contracts

RUA GOLD Announces New and Amended Marketing Contracts

Rua Gold Inc. (TSXV: RUA) (OTC: NZAUF) (WKN: A4010V) (" Rua Gold " or the " Company ") announces that it has amended marketing contracts with two service providers and entered into one new marketing contract. In accordance with TSX Venture Exchange Policy 3.4 Investor Relations, Promotional and Market-Making Activities details of each new engagement or amendment are discussed below. The new marketing agreement and the amended marketing agreements remain subject to approval from the TSX Venture Exchange.

RUA GOLD logo (CNW Group/Rua Gold Inc.)

Amendment to Marketing Contract with MMG Market Medium GmbH & Co. KG

Further to the Company's news release of February 27, 2024 , in which the Company announced its 12-month marketing engagement of MMG Market Medium GmbH & Co. KG ("MMG"), the Company has entered into an amending agreement with MMG dated August 22, 2024 (the "MMG Amending Agreement") to amend the marketing services agreement with MMG dated February 1, 2024 (the "Original MMG Agreement"). Pursuant to the MMG Amending Agreement, the Company and MMG have agreed to reduce the marketing budget allocated from the Company to MMG from C$700,000 to €400,000 (approximately C$600,000 ). Additionally, the Company and MMG have agreed to revise MMG's service fee from C$115,500 to €66,000 (approximately C$100,000 ), representing 16.5% of the budget allocated by the Company for such services. The difference between the initially contemplated service fee of C$115,500 and the revised service fee of €66,000 shall be credited by MMG to the marketing budget. All other terms of the Original MMG Agreement remain unamended. In connection with the MMG Amending Agreement and in addition to the service fee previously paid, the Company has provided a cash advance of €100,000 to MMG, which shall be applied towards the revised marketing budget.

MMG is a service provider who specializes in online marketing and investor relations services specializing in the European market and is based in Germany . MMG is headed by CEO, Christina Hammer . As of the date hereof, to the Company's knowledge, MMG (including its directors and officers) does not own any securities of the Company and has an arm's-length relationship with the Company. The Company will not issue any securities to MMG as compensation for its marketing service. For more information regarding the Company's engagement of MMG, please refer to its news release dated February 27, 2024 .

Amendment to Marketing Contract with Direct to Investor Media, LLC

Further to the Company's news release of February 27, 2024 , in which the Company announced its 12-month marketing engagement of Direct to Investor Media, LLC ("D2I"), the Company has entered into an amending agreement with D2I dated August 22, 2024 (the "D2I Amending Agreement") to amend the marketing services agreement with D2I dated February 1, 2024 (the "Original D2I Agreement"). Pursuant to the D2I Amending Agreement, the Company and D2I have agreed to increase D2I's marketing budget from C$300,000 to C$450,000 (the "D2I Budget"). As compensation for its marketing services, D2I shall be entitled to retain a marketing services fee equal to 20% of the D2I Budget. All other terms of the Original D2I Agreement remain unamended.

D2I is a California based company who specializes in consulting, advertising, media, email, and creative services for the purpose of advertising and promoting its clients and their brands. D2I is headed by its CEO, David Bogart . As of the date hereof, to the Company's knowledge, D2I (including its directors and officers) does not own any securities of the Company and has an arm's-length relationship with the Company. The Company will not issue any securities to D2I as compensation for its marketing service. For more information regarding the Company's engagement of D2I, please refer to its news release dated February 27, 2024 .

New Marketing Agreement with   2686362 Ontario Corporation dba CanaCom Group

The Company has entered into a Services Agreement dated August 12, 2024 (the "CanaCom Agreement") with 2686362 Ontario Corporation dba CanaCom Group ("CanaCom Group") pursuant to which CanaCom Group has agreed to provide digital content, marketing and media distribution services to the Company. Pursuant to the terms of the CanaCom Agreement, such marketing services are to be provided over a 12-month period, for a fee of C$80,000 plus applicable taxes. CanaCom Group is a full-service marketing agency based in Oakville, Ontario and is headed by Jordan Lutz . CanaCom Group provides digital marketing awareness via advertising through its fully owned platform theDeepDive.ca, which includes both video and written content coverage of Canadian small-cap stories. As of the date hereof, to the Company's knowledge, CanaCom Group (including its directors and officers) does not own any securities of the Company and has an arm's-length relationship with the Company. The Company will not issue any securities to CanaCom as compensation for its marketing service.

About Rua Gold

Rua Gold (TSXV: RUA) (OTCQB: NZAUF) (WKN: A4010V) is a new entrant to the gold mining space, specializing in gold exploration and discovery in New Zealand . Upon closing of the transaction with Siren Gold Limited announced in July 2024 , the Company will have permits enveloping 90% of the Reefton Goldfield in New Zealand's South Island. This district has a rich history dating back to the gold rush in the late 1800s. The Company also has a highly prospective tenement package in the North Island, located within 3 kms of OceanaGold's biggest pipeline project, Wharekirauponga. 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 .

Website: www.RUAGOLD.com

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 the TSX Venture Exchange's approval of the CanaCom Agreement, the MMG Amending Agreement, and the D2I Amending Agreement and the provision of the marketing services contemplated therein. 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/August2024/23/c5048.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Horizon Minerals Limited  Quarterly Activities Report

Horizon Minerals Limited Quarterly Activities Report

Perth, Australia (ABN Newswire) - Horizon Minerals Limited (ASX:HRZ) is pleased to provide the September 2024 Quarterly Activities Report. Horizon is an exploration and gold production company within the Kalgoorlie and Coolgardie regions of Western Australia.

A key objective for the Company is on near term gold production and exploration upside within our large tenement package of 928km2. The Company holds numerous multi - commodity assets including 1.8Moz of gold resources, the Nimbus Silver Zinc project, 50% of the Mt Thirsty Nickel Cobalt Manganese project in Western Australia, and listed investments including Richmond Vanadium Technology (ASX:RVT) which holds the world class 1.8Bt Richmond vanadium project in northwest Queensland.

Subsequent to the end of the September quarter and at the time of reporting, the company announced a proposed merger with Poseidon Nickel Limited and a two tranche placement of $14M. The merged entity shall have in addition to the resource base above, 422kt of Ni metal in resource, the 2.2Mtpa Black Swan processing facility that is proposed to be refurbished and upgraded to include a CIL gold circuit, the 1.5Mtpa Lake Johnston processing facility and untested gold anomalies adjacent to Black Swan.

Activities during the quarter focussed on implementation of the strategy of near term cashflow from mining projects, with mining commencing in August at Boorara to treat 1.24Mt of ore at Norton Goldfields' Paddington processing plant and announcing a JV agreement with BML Ventures to mine the Phillips Find project and treat 200kt of ore via a Toll Milling Agreement with FMR at their Greenfields plant near Coolgardie. The Mining Proposal, being the last permit required to undertake mining, was granted during the quarter and mobilisation commenced.

Multiple studies continued during the quarter for Kalpini and Pennys Find which are still ongoing, and the Ore Reserve study for Boorara completed by AMC Consultants. Preproduction activities continued for the Cannon Underground Gold Project with dewatering due to be completed in the next quarter.

There was minimal emphasis on drilling during the quarter as resources and expenditure focussed on preproduction activities aimed at getting assets into production to generate near term cashflow for the Company. The Company did however receive the final re-assays from the Burbanks project, with results not identifying any new economic mineralisation, however will provide invaluable information in the future modelling and upgrading of the resource model.

The company sold the first tranche of its listed investments in Ora Banda Mining Limited, selling 1,063,094 shares for proceeds of $532,943.

During the quarter, experienced mining executive Mr Warren Hallam joined the Company as a non-executive director, and non-executive directors Mr Jon Price and Mr Chris Hansen resigned from the board. The board is not seeking a replacement member of the board at this time.

*To view the full report, please visit:
https://abnnewswire.net/lnk/285PWSKW


About Horizon Minerals Limited:

Horizon Minerals Limited (ASX:HRZ) is a gold exploration and mining company focussed on the Kalgoorlie and Menzies areas of Western Australia which are host to some of Australia's richest gold deposits. The Company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions. The Teal gold mine has been recently completed.

Horizon is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.

Horizon has a number of joint ventures in place across multiple commodities and regions of Australia providing exposure to Vanadium, Copper, PGE's, Gold and Nickel/Cobalt. Our quality joint venture partners are earning in to our project areas by spending over $20 million over 5 years enabling focus on the gold business while maintaining upside leverage.

News Provided by ABN Newswire via QuoteMedia

Click here to view the Quarterly Cash Flow Report 30 September 2024




Keep reading...Show less
Element79 Announces Private Placement

Element79 Announces Private Placement

(TheNewswire)

Element79 Gold Corp.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Element79 Gold Corp Shares Further Advances With Chachas Community on Lucero Surface Rights, Provides Corporate Update

Element79 Gold Corp Shares Further Advances With Chachas Community on Lucero Surface Rights, Provides Corporate Update

(TheNewswire)

Element79 Gold Corp.

VANCOUVER, BC - T heNewswire - October 24, 2024 *Element79 Gold Corp.* (CSE: ELEM) (OTC: ELMGF) (FSE: 7YS0) ("Element79" or the "Company") is pleased to announce additional progress towards obtaining approval of its surface rights contract at the Lucero project in Peru, through ongoing community engagement and recent approval at the Chachas General Assembly.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Lode Gold Signs Definitive Agreement to Execute Tax-Efficient Spin-Out, Creating Two Pure Play Companies

Lode Gold Signs Definitive Agreement to Execute Tax-Efficient Spin-Out, Creating Two Pure Play Companies

Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: SBMIF) ("Lode Gold " or the "Company") is pleased to announce its wholly-owned subsidiary, ("1475039 B.C. Ltd." or "Gold Orogen") has entered into a binding Definitive Agreement (DA) on October 21, 2024 to acquire Great Republic Mining ("GRM", "Great Republic" or CSE: GRM), pursuant to which the GRM and the Company's subsidiary propose to complete a Reverse Take Over (RTO) transaction pursuant to which GRM will acquire all of the issued and outstanding shares of the Company's subsidiary. It will be a tax efficient spin out: shareholders of Lode Gold will receive shares of Gold Orogen.

Transaction details, terms, and condition of the deal remain the same as in the Letter of Intent previously announced and can be read on its August 27th, 2024 news release.

The new company, Gold Orogen will have assets in two highly prospective areas in Canada: Yukon and Atlantic Canada. It will be a focused exploration pure play company. It will launch with funding of over $3 million dollars, with a plan to raise an additional $1.5 million. Work programs being executed or planned include: VTEM, SQUIDT, Soil Analysis, Geological Mapping, Trenching and Drilling in the next 12 months.

Wendy T. Chan, CEO of Lode Gold states, "We are very glad to have achieved yet another milestone, thanks to the hard work of our team. As promised in our business plan, we have now finalized definite spin out plans. It will be a tax efficient plan of arrangement. We will create two pure play companies to unlock value for shareholders. We have also initiated work programs in Yukon and New Brunswick, post raising over $4 million in the last two financings."

About Lode Gold

Lode Gold (TSXV: LOD) is an exploration and development company with projects in highly prospective and safe mining jurisdictions in Canada and the United States.

Its Golden Culvert and WIN Projects in Yukon, covering 99.5 km2 across a 27-km strike length, are situated in a district-scale, high-grade-gold-mineralized trend within the southern portion of the Tombstone Gold Belt. Gold deposits and occurrences within the Belt include Fort Knox, Pogo, Brewery Creek and Dublin Gulch, and Snowline Gold. A NI 43-101 technical report entitled "Technical Report on the WIN-Golden Culvert Property for Lode Gold" with an effective date of May 15, 2024, summarizing the work to date on these properties is available on the Company's profile on SEDAR+ (www.sedarplus.ca) and on the Company's website (www.lode-gold.com).

In New Brunswick, Lode Gold has created one of the largest land packages with a 42km strike within 420km2. Its McIntyre Brook Project, New Brunswick, covering 111 km2 and a 17-km strike length in the emerging Appalachian/Iapetus Gold Belt, is surrounded by Puma Exploration's Williams Brook Project (5.55 g/t Au over 50m)1 and is hosted by orogenic rocks of similar age and structure as New Found Gold's Queensway Project. The Fancamp's Riley Brook is a 309 km2 package covering a 25 km strike of Wapske formation with its numerous felsic units. Previous exploration efforts have focused on just VMS-style mineralization hosted in the felsic intrusions, and mostly focused on the base metals - the Company is the first to focus on and assay for gold. This transaction will close upon Exchange's acceptance.

The Company is also advancing its Fremont Gold development project in the historic Mother Lode Gold Belt of California where 50,000,000 oz of gold has been produced. Fremont, located 500km north of Equinox Gold's Castle Mountain and Mesquite mines, has a Preliminary Economic Assessment(" PEA") with an after-tax NPV (5%) of USD $217M, a 21% IRR, 11-year LOM, averaging 118,000 Oz per annum at USD $1,750 gold. A sensitivity to the March 31, 2023 PEA at USD $2,000/oz gold gives an after-tax NPV (5%) of USD $370M and a 31% IRR over an 11-year LOM. The project hosts an NI 43-101 resource of 1.16 MOz at 1.90 g/t Au within 19.0 MT Indicated and 2.02 MOz at 2.22 g/t Au within 28.3 MT Inferred. The MRE evaluates only 1.4 km of the 4 km strike length of the Fremont property which features five gold-mineralized zones. Significantly, three step-out holes at depth hit the mineralized structure, typical of orogenic deposits that often occur at depth. Fremont is located on 3,351 acres of 100% owned private land in Mariposa, the original Gold Rush County, and is 1.5 hours from Fresno, California. The property has year-round road access and is close to airports and rail.

Please refer to the Fremont Gold project NI 43-101 PEA technical report dated March 31, 2023, which is available on the Company's profile on SEDAR+ (www.sedarplus.ca) and on the Company's website (www.lode-gold.com). The PEA technical report has been reviewed and approved by independent "Qualified Persons" Eugene Puritch, P.Eng., FEC, CET, and Andrew Bradfield, P.Eng. both of P&E, and Travis Manning, P.E. of KCA.

QUALIFIED PERSON STATEMENT

The scientific and technical information contained in this press release has been reviewed and approved by Jonathan Victor Hill, Director, BSc (Hons) (Economic Geology - UCT), FAusIMM, and who is a "qualified person" as defined by NI-43-101.

ON BEHALF OF THE COMPANY

Wendy T. Chan, CEO & Director

Information Contact

Winfield Ding
CFO
info@lode-gold.com
+1-416-320-4388

Kevin Shum
Investor Relations
kevin@lode-gold.com
+1 (647) 725-3888 ext. 702

Cautionary Note Related to this News Release and Figures

This news release contains information about adjacent properties on which the Company has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company's properties.

Cautionary Statement Regarding Forward-Looking Information

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release includes "forward-looking statements" and "forward-looking information" within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to the completion of the transaction and the timing thereof, the expected benefits of the transaction to shareholders of the Company, the structure, terms and conditions of the transaction and the execution of a definitive agreement, the timing of submission to the CSE and TSXV, Gold Orogen raising an additional $1,500,000 and the anticipated use of proceeds. Forward-Looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "estimate", "expect", "potential", "target", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof.

Forward-Looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which the Company operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. These include assumptions regarding, among other things: that the Company and GRM will be able to negotiate the definitive agreement on the terms and within the time frame expected, that the Company and GRM will be able to make submissions to the CSE and TSXV within the time frame expected, that the Company and GRM will be able to obtain shareholder approval for the transaction, that the Company and GRM will be able to obtain necessary third party and regulatory approvals required for the transaction, if completed, that the transaction will provide the expected benefits to the Company and its shareholders.

There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include adverse market conditions, general economic, market or business risks, unanticipated costs, the failure of the Company and GRM to negotiate the definitive agreement on the terms and conditions and within the timeframe expected, the failure of the Company and GRM to make submissions to the CSE and TSXV within the timeframe expected, the failure of the Company and GRM to obtain shareholder approval for the transaction, the failure of the Company and GRM to obtain all necessary approvals for the transaction, and r other risks detailed from time to time in the filings made by the Company with securities regulators, including those described under the heading "Risks and Uncertainties" in the Company's most recently filed MD&A. The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Lode Gold Launches Exploration Program at One of the Largest Land Packages in New Brunswick

Lode Gold Launches Exploration Program at One of the Largest Land Packages in New Brunswick

Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: SBMIF) ("Lode Gold" or the "Company") is pleased to announce that a Heliborne HeliTEM² Survey over the Riley Brook and McIntyre Brook properties, in northern New Brunswick, has been initiated as part of the recently announced Acadian Gold Joint Venture with Fancamp Exploration Ltd. (refer to Figure 1). The properties encompass a combined 419 km2 land package of mineral claims, constituting gold mineralized zones that extend over several kilometres, on trend with Puma Exploration's Williams Brook property.

The recent combination of mineral assets between Fancamp and Lode Gold Resources Inc. into a dominant land holding of high-quality, underexplored ground in New Brunswick, was a major development which now aims to be further validated by this high-resolution heliborne electro-magnetic and radiometric survey.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Riverside Resources Completes LiDAR Survey and Expanding Targeting at the Duc Project in Ontario

Riverside Resources Completes LiDAR Survey and Expanding Targeting at the Duc Project in Ontario

Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) ("Riverside" or the "Company"), is pleased to announce that its 100% owned subsidiary, Blue Jay Resources, has completed a Light Detection and Ranging ("LiDAR") airborne geophysical survey at the Duc Project, 50 kms southwest of the town of Kapuskasing, Ontario as part of the conclusion of a successful summer field program. Exploration work of sampling, mapping and now LiDAR provides expanded targeting and also improved definition of the surface projection of east-west Abitibi greenstone style shears and second order ENE cross structures which typically occur in this western part of the Wawa-Abitibi along the major gold-bearing breaks that host significant gold resources in the Timmins Camp.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Rua Gold

Rua Gold Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×