{"id":10551,"date":"2024-10-03T13:49:54","date_gmt":"2024-10-03T13:49:54","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2024\/10\/03\/rua-gold-targets-significant-epithermal-gold-system-in-the-hauraki-goldfield-new-zealand\/"},"modified":"2024-10-03T13:49:54","modified_gmt":"2024-10-03T13:49:54","slug":"rua-gold-targets-significant-epithermal-gold-system-in-the-hauraki-goldfield-new-zealand","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2024\/10\/03\/rua-gold-targets-significant-epithermal-gold-system-in-the-hauraki-goldfield-new-zealand\/","title":{"rendered":"RUA GOLD Targets Significant Epithermal Gold System in the Hauraki Goldfield, New Zealand"},"content":{"rendered":"
\n

Rua Gold Inc. (TSXV: RUA) (OTCQB: NZAUF) (WKN: A4010V) (\u2018Rua Gold\u2019 or the \u2018Company\u2019) 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\u2019s (\u2018OceanaGold\u2019s\u2019) Wharekirauponga Project (\u2018WKP\u2019) which has indicated resources of 1.01 Moz at 15.9 gt1.<\/p>\n

The Company was granted a Minimum Impact Access Agreement (\u2018MIA\u2019) from the Department of Conservation (\u2018DoC\u2019) for its Glamorgan Project in August 2024. Following this, the exploration team was mobilized and has made excellent progress, including:<\/p>\n

collecting 2,000 of the planned 3,000 soil sample program;<\/p>\n

completing the first full phase of UAV drone magnetic geophysical surveying; and <\/p>\n

commencing ground geological mapping.<\/p>\n

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.<\/p>\n

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.<\/p>\n

On March 7, 2024, OceanaGold included the accelerated development of WKP in New Zealand\u2019s 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 \u2018one stop shop\u2019 decision-making process to facilitate the delivery of infrastructure and development projects, including mining projects with significant regional or national benefits.<\/p>\n

Robert Eckford, CEO, commented: \u2018This 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\u2019s 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.\u2019<\/p>\n

Geochemistry <\/p>\n

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.<\/p>\n

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

Geological Mapping<\/p>\n

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.<\/p>\n

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

Magnetic (UAV Drone) Surveying<\/p>\n

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.<\/p>\n

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

Environmental Studies <\/p>\n

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. <\/p>\n

About Glamorgan<\/p>\n

Rua Gold\u2019s 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\u2019s most significant pipeline project, WKP, which has indicated resources of 1.01 Moz at 15.9 g\/t2.<\/p>\n

Rua Gold\u2019s 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.<\/p>\n

Grant of Deferred Share Units <\/p>\n

The Company also announces that it has granted an aggregate of 392,363 deferred share units (\u2018DSUs\u2019) 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\u2019s 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.<\/p>\n

About Rua Gold<\/p>\n

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. <\/p>\n

The Company controls the Reefton Gold District as the dominant landholder in the Reefton Goldfield on New Zealand\u2019s 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. <\/p>\n

The Company\u2019s Glamorgan Project, a highly prospective project located within the North Islands\u2019 Hauraki district. It is within 3 kms of OceanaGold\u2019s 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\u2019s position as a leading high-grade gold explorer in the region.<\/p>\n

For further information, please refer to the Company\u2019s disclosure record on SEDAR+ at www.sedarplus.ca.<\/p>\n

QAQC Soil Samples<\/p>\n

A bulk sample of ~0.5-1 kg was collected in the field at the Company\u2019s Waihi base, and couriered to RGL\u2019s office for preparation. Samples were dried in a customized incubator, set at 38\u00b0C, for a minimum of two days. Once the samples were fully dried, they were sieved to <\/p>\n

A 50-100-g fine-sieved (<\/p>\n

ALS Brisbane is independent to Rua Gold.<\/p>\n

Technical Information<\/p>\n

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.<\/p>\n

\n

Rua Gold Contact<\/p>\n

Robert Eckford<\/p>\n

Chief Executive Officer<\/p>\n

Tel: +1 604 655 7354<\/p>\n

Email: reckford@RUAGOLD.com<\/p>\n

Website: www.RUAGOLD.com<\/p>\n<\/div>\n

This news release includes certain statements that may be deemed \u2018forward-looking statements\u2019. 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 \u2018expects\u2019, \u2018plans\u2019, \u2018anticipates\u2019, \u2018believes\u2019, \u2018intends\u2019, \u2018estimates\u2019, \u2018projects\u2019, \u2018potential\u2019 and similar expressions, or that events or conditions \u2018will\u2019, \u2018would\u2019, \u2018may\u2019, \u2018could\u2019 or \u2018should\u2019 occur and specifically include statements regarding: the Company\u2019s 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.<\/p>\n

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\u2019s 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\u2019s forward-looking statements and reference should also be made to the Company\u2019s base shelf prospectus dated July 11, 2024 (the \u2018Base Shelf Prospectus\u2019), 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.<\/p>\n

Forward-Looking statements are based on the beliefs, estimates and opinions of the Company\u2019s 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\u2019s beliefs, estimates or opinions, or other factors, should change.<\/p>\n

1\u00a0Based on OceanaGold\u2019s reported Resources and Reserves for the year ended 2023, see Resources and Reserves Annual Statement, February 21, 2024 for more details.<\/p>\n

2\u00a0Based on OceanaGold\u2019s reported Resources and Reserves for the year ended 2023, see Resources and Reserves Annual Statement, February 21, 2024 for more details.<\/p>\n

To view the source version of this press release, please visit https:\/\/www.newsfilecorp.com\/release\/225438<\/p>\n<\/div>\n

News Provided by Newsfile via QuoteMedia<\/p>\n<\/p>\n

This post appeared first on investingnews.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Rua Gold Inc. (TSXV: RUA) (OTCQB: NZAUF) (WKN: A4010V) (\u2018Rua Gold\u2019 or the \u2018Company\u2019) 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\u2019s (\u2018OceanaGold\u2019s\u2019) Wharekirauponga Project (\u2018WKP\u2019) which has indicated resources of 1.01 Moz at […]<\/p>\n","protected":false},"author":0,"featured_media":10552,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-10551","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/10551","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=10551"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/10551\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/10552"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=10551"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=10551"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=10551"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}