{"id":6254,"date":"2024-07-18T01:37:50","date_gmt":"2024-07-18T01:37:50","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2024\/07\/18\/clarification-historical-mineral-resource-estimate-at-reefton\/"},"modified":"2024-07-18T01:37:50","modified_gmt":"2024-07-18T01:37:50","slug":"clarification-historical-mineral-resource-estimate-at-reefton","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2024\/07\/18\/clarification-historical-mineral-resource-estimate-at-reefton\/","title":{"rendered":"Clarification: Historical Mineral Resource Estimate at Reefton"},"content":{"rendered":"
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Rua Gold Inc. (CSE: RUA) (OTC: NZAUF) (WKN: A4010V) (\u2018 Rua Gold \u2018 or the \u2018 Company \u2018) provides a clarification in relation to its news release of July 15, 2024 (\u2018 Rua Gold to acquire Siren Gold\u2019s Reefton assets and become the dominant Reefton Goldfield explorer \u2018).<\/p>\n

Previously, the Company disclosed that \u2018the tenements owned by [Reefton Resources Pty Limited] hosts a total JORC-compliant inferred mineral resource estimate (at a 1.5 g\/t Au cut-off grade) containing 444koz Au @ 3.81g\/t Au and 8.7kt Sb @ 1.5% Sb\u2019. The Company wishes to clarify that the tenements presently owned by Reefton Resources Pty Limited (\u2018Reefton Resources\u2019) do not contain a current mineral resource estimate. The Company intended to disclose the aforementioned \u2018inferred mineral resource estimate\u2019 as a \u2018historical estimate\u2019 within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects (\u2018NI 43-101\u2019). As a result, the Company also wishes to provide additional information and cautionary language required by NI 43-101. <\/p>\n

The Company would like to clarify its statement regarding the tenements owned by Reefton Resources as follows: <\/p>\n

The tenements owned by Reefton Resources host the following historical estimates: <\/p>\n

Alexander River Gold Project (Exploration Permit 60446) <\/p>\n

The Alexander River\u00a0MRE is reported at 1.07 Mt and 4.95 g\/t for 170 koz. The mineral resource is reported at a 1.5 g\/t cut-off for all areas of the resource. The resources are estimated as at the end of January 2023 <\/span> . 1 2 <\/p>\n

Big River Gold Project (Exploration Permit 60448) <\/p>\n

The Big River\u00a0MRE is reported at 0. 834 Mt <\/span> at 3.94 g\/t for 105.5 koz of gold at a 1.5g\/t cut-off. The resources are estimated as of the end of April 2023 <\/span> . 3 <\/p>\n

Supreme Gold Project (Exploration Permit 60747) <\/p>\n

The Supreme Inferred\u00a0MRE is reported at 1.15 Mt at 2.78 g\/t for 103.4 koz. resources are based on a 1.5 g\/t Au cut-off grade. The resources are estimated as of the end of May 2023 <\/span> . 4 <\/p>\n

Auld Creek Project (Exploration Permit 60648) <\/p>\n

The foregoing historical estimates were classified as \u2018inferred\u2019, in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources, and Ore Reserves, 2012 edition (the \u2018JORC Code\u2019), which does not have the same meaning as the one ascribed to \u2018inferred mineral source\u2019 by the Canadian Institute of Mining, Metallurgy and Petroleum (\u2018CIM\u2019) in the CIM Definition Standards on Mineral Resources and Mineral Reserves adopted by the CIM Council on May 19, 2014 <\/span> , as amended as JORC and CIM use different definitions of the \u2018inferred\u2019 classification based on the certain matters including the level of confidence of quantity and grade. <\/p>\n

The Company believes verification of the historical estimates is required to upgrade the historical estimates to current mineral resources. The Company expects such verification will require, among other things: (i) additional diamond drilling and core density sampling; (ii) further detailed modelling on ore controls and deposit structural setting; (iii) continued metallurgical studies for gold recovery factors; and (iv) underground mining scoping and optimization studies to determine the optimal cut-off grade and appropriate mining methods. The Company believes that the historical estimate is relevant in assisting the Company in its targeted drill program but is unable to comment on the reliability of historical resources as insufficient work has been done to make this determination. A qualified person has not done sufficient work to classify the historical estimates referenced herein as current mineral resources or mineral reserves and the Company is not treating the historical estimate as current mineral resources or mineral reserves. <\/p>\n

About Rua Gold<\/span><\/p>\n

Rua Gold<\/span> (CSE: RUA, OTC: NZAUF, WKN: A4010V) is a new entrant to the mining industry, specializing in gold exploration and discovery in New Zealand <\/span> . With permits that have a rich history dating back to the gold rush in the late 1800\u2019s, Rua Gold<\/span> combines traditional prospecting practices with modern technologies to uncover and capitalize on valuable gold deposits. <\/p>\n

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<\/span> has a highly skilled team of New Zealand <\/span> professionals who possess extensive knowledge and experience in geology, geochemistry, and geophysical exploration technology. <\/p>\n

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

Technical Information <\/p>\n

Simon Henderson CP, AUSIMM, a qualified person under National Instrument 43-101 Standards of Disclosure for Mineral Projects ,\u00a0has reviewed and approved the technical disclosure contained herein. <\/p>\n

Website: www.RUAGOLD.com <\/p>\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; and the work required to verify the historical mineral estimates as current mineral resources or mineral reserves. 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 <\/span> \u2013 Ukraine <\/span> 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 annual information form dated April 19, 2024 <\/span> , 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

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________________________________________________________ <\/span><\/p>\n<\/p>\n

1 Source: \u2018Alexander River Mineral Resource Estimate Report\u2019 dated April 2023 and prepared by Christopher Grove, B App Sci, MAusIMM, principal geologist, and Matt Binks, senior geologist, of Measured Group Pty Ltd. Assumptions from source: The resource has been estimated based on an assumption of mechanised underground mining for the Alexander River deposit (long hole stoping or sub-level open stoping). No mining dimensions or dilution were considered. No metallurgical recovery factors were applied to the Mineral Resources Estimate. <\/span><\/p>\n<\/p>\n

2 Additional assumptions, parameters, and methods used to prepare the historical estimate, as identified by Mr. Simon\u00a0Henderson: Geological wireframing in Leapfrog Geo; hard boundary compositing using Leapfrog \u2013 Edge Module (Leapfrog Edge); Variography and Ordinary Kriging using Leapfrog Edge; Block Model Estimation using Leapfrog Edge. The historical mineral resources are reported according to the terminology, definitions and guidelines given in the JORC Code (as defined herein). <\/span><\/p>\n<\/p>\n

3 Source: \u2018Mineral Resource Estimate Report \u2013 Big River Gold Project\u2019 dated June 2023 and authored by Mark McCulloch, BSc, MAusIMM, a consultant to Siren Gold Limited. Assumptions: The resource has been estimated based on an assumption of\u00a0mechanised underground mining for the Big River deposit (long hole stoping or sub-level open stoping). No mining dimensions or dilution were considered. No metallurgical recovery factors were applied to the Mineral Resources Estimate. See also note 2. <\/span><\/p>\n<\/p>\n

4 Source: \u2018Mineral Resource Estimate Report \u2013 Supreme Gold Project\u2019 dated June 2023 and authored by Mark McCulloch, BSc, MAusIMM, a consultant to Siren Gold Limited. Assumptions: The resource has been estimated based on an assumption of mechanised underground mining for the Supreme deposit (long hole stoping or sub-level open stoping). No mining dimensions or dilution were considered. No metallurgical recovery factors were applied to the Mineral Resources Estimate. See also note 2. <\/span><\/p>\n<\/p>\n

5 Source: \u2018Mineral Resource Estimate Report \u2013 Auld Creek Project\u2019 dated October 2023 and authored by Mark McCulloch, BSC, MAusIMM, a consultant to Siren Gold Limited. Assumptions: The resource has been estimated based on an assumption of mechanised underground mining for the Fraternal deposit (long hole stoping or sub-level open stoping). No mining dimensions or dilution were considered. No metallurgical recovery factors were applied to the MRE. See also note 2. <\/span><\/p>\n<\/div>\n<\/div>\n

SOURCE Rua Gold<\/span><\/p>\n

View original content: http:\/\/www.newswire.ca\/en\/releases\/archive\/July2024\/17\/c1175.html <\/p>\n<\/div>\n<\/div>\n

News Provided by Canada Newswire via QuoteMedia<\/p>\n<\/p>\n

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

Rua Gold Inc. (CSE: RUA) (OTC: NZAUF) (WKN: A4010V) (\u2018 Rua Gold \u2018 or the \u2018 Company \u2018) provides a clarification in relation to its news release of July 15, 2024 (\u2018 Rua Gold to acquire Siren Gold\u2019s Reefton assets and become the dominant Reefton Goldfield explorer \u2018). Previously, the Company disclosed that \u2018the tenements […]<\/p>\n","protected":false},"author":0,"featured_media":6255,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-6254","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\/6254","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=6254"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/6254\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/6255"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=6254"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=6254"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=6254"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}