RUA GOLD Reports Extensions Along Strike and at Depth at the Auld Creek Gold-Antimony Project, Reefton Goldfield – Rua Gold
RUA GOLD Reports Extensions Along Strike and at Depth at the Auld Creek Gold-Antimony Project, Reefton Goldfield
Rua Gold Inc. (TSX: RUA, NZX: RGI, OTC: NZAUF, WKN: A40QYC) (“RUA GOLD” or the “Company“) is pleased to provide an exploration update on its Auld Creek gold-antimony Project located in the Reefton Goldfield on the South Island of New Zealand.
Highlights:
- Recent drilling provides strong evidence for expansion of the gold-antimony resource:
- ACDDH064 intercepted mineralization 400m north of the resource envelope, confirming surface extension beyond 1,060 meters (previously 870m length).
- ACDDH065 intercepted mineralization 550m downhole, demonstrating continuity to 540m below surface (previously 300m depth).
- Assays are pending for both holes. The resource remains open along strike to the north and at depth, with mineralization occurring in plunging shoots.
- Highlighted assay results from recent step-out drilling at Auld Creek include:
- ACDDH058: 1.4m @ 29.1 g/t AuEq1 (25.5 g/t Au & 1.6% Sb) from 173m
- ACDDH059: 1.2m @ 14.3 g/t AuEq1 (7.6 g/t Au & 3.1% Sb) from 270m
- ACDDH060: 2.8m @ 3.8 g/t AuEq1 (2.5 g/t Au & 0.6% Sb) from 128m
- ACDDH062: 4.3m @ 2.5 g/t Au from 349m
- The project remains on track with mine planning, environmental, and social studies to support submission of a Fast-track2 Referral application at the end of the month.
- All drill-holes in the recent campaign have reliably intersected the structure, supporting its interpretation as a continuous, district-scale feature.
- The higher gold grade intersected in ACDDH058 helps delineate the orientation and continuity of high-grade mineralized shoots, confirming the deposit’s potential to host high-grade gold zones.
- Scout drilling has been mobilized to test the full 2,500m length of the surface gold-arsenic-antimony soil geochemical anomaly.
The Company’s CEO Robert Eckford commented “The decision to prioritize the Auld Creek gold-antimony project for a major development drilling program is already delivering encouraging results, with both resource step-out drilling, and scout drilling of outlying targets demonstrating consistent geological and structural continuity. The early results support our decision to simultaneously undertake a Preliminary Economic Assessment (“PEA”) as part of a Fast-Track referral application for a mining permit expected to be submitted at the end of the year.”
AULD CREEK EXPLORATION UPDATE
Recent drilling provides strong evidence supporting expansion of the Auld Creek gold-antimony resource over 1,000m length and more than 500m of depth; together with several higher-grade gold intercepts that highlight the potential for high-grade mineralization hosted within orogenic-style quartz veins.
These results provides early evidence and support the Company’s focus on its fully funded 19,000m drill program, with four diamond drill rigs currently operating on site.
Details on each reported intercept:
ACDDH059: 1.2m @ 7.6 g/t Au + 3.07 % Sb including 0.55m @ 14.1 g/t Au + 3.3% Sb (estimated true width 2.6m)
ACDHH062:8.5m @ 1.73 Au including 0.2m 11.8 g/t Au, and 0.3m 5.8 g/t Au (estimated true width 5.0m)
All drill-holes in the recent campaign have successfully intersected the Fraternal structure, supporting its description as a continuous and district size feature. Further infill and extensional drilling is planned, along with geological modelling and geochemical fingerprinting of the lodes and host greywacke/argillites to provide improved geological and structural understanding of the deposit.
Collectively, these results materially advance the Company’s understanding of the Auld Creek system providing clear vectors to guide subsequent drilling focused on expanding higher-grade mineralization along plunge toward the north and at depth.
Figure 2: Core photo of high-grade gold assays ACDDH058 and deepest northern-Fraternal intercept to date: ACDDH063A fifth rig will commence in April as the roaming rig, focused on other highly prospective gold targets across the Reefton Goldfield that will form part of the longer-term vision of a demonstrating the potential for multiple underground mines feeding the central mill at Auld Creek.
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 GOLD’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 with over 120,000 hectares of tenements, in a district that historically produced over 2Moz of gold grading between 9 and 50g/t.
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 15Moz of gold and 60Moz of silver. Glamorgan is adjacent to OceanaGold Corporation’s biggest gold mining development project, Wharekirauponga, which is now fully permitted and under construction.
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 and Chief Operating Officer and a director of RUA GOLD, has reviewed and approved the technical disclosure contained herein. Mr. Henderson has participated in the geochemical sampling, and mapping programs to verify that they have been conducted in accordance with standard operating procedures. Mr. Henderson has verified the data disclosed by running checks on the location, analytical, and test data underlying the information in the technical disclosure herein.
QA/QC Drill Core
All core samples sent for laboratory analysis was HQ sized, ½ core sampled to lithological changes. Control samples (certified standards and uncertified blanks), along duplicates, are inserted at a target 5% insertion rate. Results are assessed for accuracy, precision, and contamination on an ongoing basis. Core samples were sent to SGS Laboratories, Westport for sample preparation. SGS is independent of the Company. Samples were crushed and pulverized to 85% passing 75 µm. The pulverized rock-chips were split into two samples: a ~50 g sent for laboratory analysis, and the reject returned to RGL for pXRF analysis and storage. Pulverized rock-chip samples were analyzed for gold (Au) by 50-g fire assay with AAS finish at SGS Waihi (SGS Code FAA505); and for antimony (Sb) by Sodium Peroxide Fusion Analysis by ICP-MS at SGS Waihi.
RUA GOLD Contact
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 and Glamorgan projects and the results thereof, including the fifth rig and the 19,000m drill program, the timing of the exploration program at the Auld Creek Gold-Antimony Project in the Reefton Goldfield, the timing or results of a PEA, and the timing or result of an application for a mine permit. 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 and the war in the Middle East; 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 unfavorable 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 short form base shelf prospectus dated July 11, 2024, and the documents incorporated by reference therein, 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 1: Location of Auld Creek reported drill holes from RUA program
Table 2: Significant drilling intercepts at Auld Creek, full mineralized zone composites.
