RUA GOLD Reports Two Major Gold Bearing Structures Identified on Its Glamorgan Project
RUA GOLD Reports Two Major Gold Bearing
Structures Identified on Its Glamorgan Project
Vancouver, British Columbia--(Newsfile Corp. - January 23, 2025) -
Rua Gold Inc. (TSXV: RUA)
(OTCQB: NZAUF) (WKN: A40QYC) ("
RUA GOLD
" or the "
Company
") is pleased to provide an update
following the completion of the first phase of surface exploration on its Glamorgan epithermal gold
prospect in the Hauraki region on the North Island New Zealand.
Highlights:
The Company
tripled its land package
that is directly adjacent to OceanaGold’s
Wharekirauponga project, which hosts 1.37Moz @ 17.88g/t Au (Ind)1 (Figure 1 & 2).
Identified
two significant soil anomalies over 4kms in length
, trending north, and north-
northwest and open to the northeast and northwest.
Significant
gold grades (8–43 ppm Au)
were recorded in rock float and in situ rock samples from
detailed geological mapping.
Ultra detailed UAV magnetics highlights strong alteration enveloping the two anomalies and
demonstrating
a major alteration cell indicative of a significant epithermal system
.
CSAMT ground geophysics has commenced as a precursor to targeted diamond drilling.
Simon Henderson, COO of RUA GOLD commented:
"successful exploration commences with sound
geological mapping, detailed geochemistry and geophysical surveys, and the addition of some
innovative science and technology to see the opportunity for a major epithermal gold discovery.
With the highly prospective geology of Wharekirauponga and Waihi, major gold deposits next door,
our exploration team is highlighting the footprint of another potential significant epithermal gold-silver
vein system. CSAMT ground resistivity mapping has commenced and will be the final detail needed
to feed into the VRIFY AI tool and then rank drill targets on this exciting opportunity."
Figure 1: Glamorgan is located adjacent to the high grade Wharekirauponga and Waihi gold deposits.
To view an enhanced version of this graphic, please visit:
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Figure 2: Location of the Wires Ridge prospect within the Glamorgan permit.
To view an enhanced version of this graphic, please visit:
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EXPLORATION UPDATE
UAV Magnetic Surveying
Following the access granted in May 2024, RUA GOLD's exploration commenced with UAV ultra
detailed magnetic surveying, completing 590 line-km of flying using a Geometrics MagArrow
magnetometer suspended under a DJI M300 drone. Interpretation of the data has assisted in defining
key aspects of lithology and alteration of the Whitianga Group rhyolites and Coromandel Group
andesites. Major structural features interpreted in the data align with regional mineralization trends.
Ultra detailed UAV magnetics flown by the exploration team highlights strong alteration (de-
magnetization of the host rocks) enveloping the two anomalies and demonstrating a major alteration cell
indicative of the footprint of a major epithermal system (Figure 3).
Soil Sampling
Soil sampling commenced in July 2024 along 250m spaced crosslines with a sample spacing of 20m. A
total of 3,181 samples were collected, dried, sieved in RUA GOLD's Waihi facility, then transported to
Reefton and analyzed by pXRF in RUA GOLD's Reefton laboratory.
Simultaneously, each sample was analyzed for short-wave near infrared (SWIR) reflectance
spectrometry using a TerraSpec 4 Hi-Res mineral analyzer with 6nm resolution to complete a picture of
the clay alteration system, enabling identification of the higher levels of the epithermal system. A 50g
split of soil was then freighted to ALS Brisbane for low-level precision gold assay. Arsenic anomalism
with coincident gold anomalism highlights the two major soil anomalies A and B (Appendix table 1 and
Figure 3).
Anomaly A trends north-northwest for 4.2km with conjugate gold-arsenic trends in a north-east direction.
This anomaly remains open to the northwest. The northeast direction mirrors the orientation of the
significant Wharekirauponga gold deposit adjacent to the Glamorgan Project.
Anomaly B trends northerly and follows north to northeasterly quartz veins mapped over 4km and is open
to the north and south. The southern end of this anomaly coincides with the Wentworth/Auckland
historical mine workings.
Figure 3: Soil geochemistry & UAV magnetic data highlight two major gold-arsenic anomalies and
coincident strong alteration in the Wires Ridge prospect.
To view an enhanced version of this graphic, please visit:
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Field Mapping
Ongoing field mapping has highlighted broad alteration and veining in situ, and areas of quartz-adularia
float displaying banded, platy quartz after calcite, as well as brecciated andesite with stockwork veining
increasing toward the zones of interest. Both float and in situ rock-chip sampling have returned
encouragingly anomalous gold (Appendix table 2), coincident with the zones of high soil geochemistry.
Geological mapping and CSAMT ground geophysical surveying will be completed in Q1 2025, allowing
interpretation and drill targeting mid-year.
ABOUT GLAMORGAN
The Glamorgan Project lies within the Hauraki Goldfield, a major epithermal gold district, with over 50
historic mines and one operating mine (Waihi). The Waihi mine has produced over 10Moz of gold, with
disclosed resources of 2.54Moz gold and 9.3Moz silver, and reserves of 0.48Moz gold and 1.5Moz
silver remaining (estimated as at December 31, 2023 - see OceanaGold press release dated February
21, 2024 for more details).
Adjacent to the Glamorgan Project lies OceanaGold's Wharekirauponga deposit, with an initial reserve
of 1.2Moz gold announced in December 2024. Early phase design and construction is expected to
begin in 2025, with the first ore expected to be produced in 2032
1
.
RUA GOLD's Chief Operating Officer, Simon Henderson previously spent 14 years delineating the
resource at OceanaGold's Waihi operation and then went on to joint-venture both the Glamorgan Project
and Wharekirauponga Project under Glass Earth Minerals Inc., leading the exploration team to the
Wharekirauponga discovery.
Figure 4: UAV magnetic data over the Wires Ridge Prospect within the Glamorgan permit.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10755/238183_d4b33a1904905941_012full.jpg
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 project, Wharekirauponga.
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
geophysical, sampling, and mapping programs to verify that they have been conducted in accordance
with the 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 SOIL SAMPLES
A bulk sample of ~0.5-1 kg was collected in the field. Each sample was photographed in the field
alongside the GPS with coordinates visible and each sample site marked in the field with biodegradable
flagging tape. Samples were taken back to RUA GOLD's Waihi facility for preparation. Samples were
dried in a customized incubator, set at 38°C, for a minimum of two days. Once the samples were fully
dried, they were sieved to <180µm in size. A sub-sample of 50-100g was scooped from the <180 µm
size fraction for analysis. The remaining material was retained and stored in Waihi.
The 50-100-g fine-sieved (<180µm) soil sub-sample was sent to RUA GOLD's Reefton facility for pXRF
using an Olympus Vanta hand-held analyser, and then on to ALS Geochemistry, Brisbane, for Au-TL43
analysis. The ALS analysis consisted of 25-g sample digestion by aqua regia, followed by trace Au
analysis by ICP-MS. The detection limit for Au by this method is 1ppb.
ALS Brisbane is independent to RUA GOLD.
Field duplicates were collected every 20
th
sample and underwent the same drying, sieving, pXRF, and
gold assay process outlined above. Duplicates were checked and validated by RUA GOLD's Isogonal
data validation system to ensure compliance.
RUA GOLD Contact
Robert Eckford
Chief Executive Officer
Email:
Website:
www.RUAGOLD.com
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. 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; 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.
Appendix Table 1: Significant gold and arsenic assay results from soil samples.
Sample ID
Easting_NZTM
Northing_NZTM
Au (ppm)
As (ppm)
WR18022
1845455
5873468
0.28
17
WR14016
1845843
5874398
0.26
41
WR05107
1848533
5875462
0.26
410
WR07134
1848758
5874761
0.26
29
WR06119
1848620
5875127
0.22
542
WR15027
1845911
5874072
0.19
132
WR09143
1848669
5874237
0.17
268
WR14017
1845860
5874388
0.17
22
WR14007
1845686
5874486
0.15
281
WR03096
1848588
5876006
0.14
315
WR04109
1848691
5875660
*
1546
WR04111
1848726
5875641
*
1061
WR10019
1846387
5875239
*
1052
WR04110
1848709
5875650
*
1025
WR01116
1849182
5876244
0.10
1000
WR16124
1847478
5872900
0.05
981
WR15118
1847496
5873177
0.12
952
WR11048
1846769
5874736
*
784
WR10033
1846630
5875102
*
772
WR15149
1848036
5872872
0.02
673
Sample ID
Easting_NZTM
Northing_NZTM
Au (ppm)
As (ppm)
* gold assay results pending
Table 2: Significant assay results from rock-chip samples.
Sample ID
Location
Type
Easting_NZTM
Northing_NZTM
Au (ppm)
GERS0746
Wharekawa River
Float
1846791
5877157
5.71
GERS0747
Wharekawa River
Float
1846610
5876261
4.35
GERS1605
Wharekawa River
Float
1847353
5875117
6.24
GERS1611
Wharekawa River
Float
1847144
5875759
7.32
GERS1618
Sutcliff Stream
Float
1847346
5875253
10.80
GERS1623
Phoenix Stream
Float
1847263
5874868
6.05
GERS1625
Phoenix Stream
Float
1847205
5874503
43.10
GERS1626
Phoenix Stream
Float
1847246
5874406
8.04
GERS1636
Tairua River
Outcrop
1845747
5873564
10.90
1
: Source: OceanaGold Pre-Feasibility Study, December 11, 2024
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/238183