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

23 May 2024

Originally shared on ruagold.com

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/t1, 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.

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

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.

Figure 1: Overview of the Glamorgan Project in relation to OceanaGold’s Wharekirauponga Project.

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.