Originally shared on proactiveinvestors.com

RUA Gold CEO Robert Eckford joined Steve Darling from Proactive to share exciting news about the company’s transition into a publicly traded entity on the Canadian Securities Exchange under the symbol RUA and on the OTCQX. This significant milestone comes after four years of extensive exploration work, including various activities such as soil sampling, UAV magnetics, geological mapping, and drilling approximately 25 holes across their exploration properties.

Eckford highlighted the company’s merger with First Uranium, a shell company holding $7.5 million, which positions RUA Gold to continue its exploration efforts with strengthened financial backing. The primary focus of RUA Gold has been the Reefton district in the South Island of New Zealand, covering over 56,000 hectares. Historical mining in this region has yielded approximately 2 million ounces of gold at an average grade of 25 grams per ton. With $8 million raised privately for exploration in the Reefton district, the company has achieved promising results, including intersecting 9.4 grams per ton of gold over 12 meters in a recent drill campaign.

In addition to the Reefton district, RUA Gold has acquired a new project in the North Island near OceanaGold’s Waihi operation, known for its epithermal gold deposits. Initial surface sampling at this site has shown encouraging results, prompting plans to commence drilling by the end of the year. The company has allocated $1 million for exploration since July 2023, with ongoing drilling activities and results expected by late March or early April. Looking ahead, RUA Gold plans to conduct drilling on its other land package, the Hauraki Goldfield, later this year, further advancing its exploration efforts and unlocking the potential of its extensive portfolio of properties.