Rua Gold Intersects Visible Gold and Confirms Downhole Continuity of High-Grade Gold Mineralization at Murray Creek, Reefton
Rua Gold Intersects Visible Gold and Confirms
Downhole Continuity of High-Grade Gold
Mineralization at Murray Creek, Reefton
Vancouver, British Columbia--(Newsfile Corp. - November 4, 2024) - Rua Gold Inc. (TSXV: RUA)
(OTCQB: NZAUF) (WKN: A4010V) ("
RUA GOLD
" or the "
Company
") is pleased to provide an update
from the drilling campaign underway at the Reefton Project on the South Island of New Zealand.
Murray Creek
RUA GOLD reports the completion of the second hole testing the down-dip extension of the Victoria
lode, DD_VIC_042. This intersected the targeted gold vein at 388m down hole with a highly silicified and
pyritic zone over 0.6m in length, including
visible gold of 0.2m at 34.1g/t.
Hole ID
Easting
Northing
From
To
Interval
Au (g/t)
DD_VIC_042
1509876
5336164
388.65
388.85
0.2m
34.1
RUA GOLD has commenced a series of wedged daughter holes from DD VIC 042 to progress the
delineation of the unmined reef down dip and along strike.
Historical records and rock hand specimens around old workings attest to high-grade visible gold in the
historical mined veins. DD VIC 042 confirms both the presence of high-grade visible gold, and the
continuity of the unmined lode 80m down dip of the current workings.
Robert Eckford, CEO of RUA GOLD commented: "this encouraging result with the second drill-hole of
our near-mine program again validating this vein continues at depth and is still open. Careful 3D
modelling and targeting of extensions and potential duplications of known gold lodes provides lower risk
strategies to define resources economically. We are at the very outset of our drill program and with every
hole it is getting better. Very exciting times for the RUA GOLD team and a testament to the dedication of
the team on the ground in New Zealand."
The Company commenced its near mine drill program on the Murray Creek targets in July. A second drill
rig was introduced in September to test the Capleston vein system. These historic mines collectively
produced ~700koz of gold at 25.2g/t within a radius of ~20 kilometers.
Figure 1 (a) interval 388.65-388.85m quartz + visible gold; (b) Drill rig 66, core being retrieved from
barrel
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Figure 2: Cross-section through the Victoria lode, Murray Creek
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Capleston
The Company is targeting an undeveloped and near-surface vein at the southern end of the two
kilometer long historic Capleston project.
Near surface targets lend themselves to early development
and are the closest to transportation and infrastructure, providing low-cost operational advantages.
Additionally, a legacy drill hole intercepted the southern lode at 33m downhole, with 1m grading 24g/t Au
followed by 1m @ 2.5g/t Au
1
. Mapping has recorded historical waste samples up to 32.0g/t Au in the
vicinity
1
, and a strong soil anomaly enveloping the vein (up to 410ppb Au).
As previously announced, the first diamond drill hole, DD_REF_043, intersected a 12m zone of quartz-
pyrite-arsenopyrite in the hanging wall, with a 1m quartz vein from 31m to 32m grading 3.86 g/t Au.
A second hole, DD_REF_044, completed on the southern end of the Capleston vein system has
confirmed continuity of the vein to the north, with a 2m intersection of mineralization recorded.
A third
hole was commenced to target the vein to the south to confirm lateral continuity, prior to testing at depth.
These are being logged and then will be sent for assay with results expected in the next exploration
update in the next 2-4 weeks.
Figure 3: Capleston Section DD_REF_043, drill intersection and core highlighted
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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'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. RUA GOLD will have approximately 120,000 hectares of tenements,
following the completion of its previously announced acquisition of Reefton Resources Pty Limited
1
, in a
district that historically produced over 2 million ounces of gold grading between 9 and 50 grams per
tonne.
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 15 million ounces of gold and 60
million ounces of silver. Glamorgan is within 3 kms of OceanaGold Corporation's biggest gold mining
project, WKP.
For further information, please refer to the Company's disclosure record on SEDAR+ at
www.sedarplus.ca
.
1
Refer to news released dated July 15, 2025.
Technical Information
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.
Mr. Henderson has verified the data disclosed, including sampling, analytical, and test data underlying
the information in the technical disclosure herein.
QAQC Drilling
The majority of drillholes were sampled in full, typically following 1-m sample intervals unless geological
contacts (i.e. dolerite intrusions) dictated otherwise. NQ core was analyzed as whole core; therefore,
only requiring cutting along sample intervals. PQ and HQ core were sampled as half core.
Drill core samples were sent to SGS Westport for sample preparation. Core was crushed to 75%
passing 2 mm, and 1-kg split of material was pulverized (to 85% passing 75 µm). No split duplicates
were collected during the crushing steps. Two scoops were taken from the pulverize bowl: one for
laboratory analysis (~150 g) and the other for pXRF analysis (~100 g). The pulp reject is stored in
Reefton.
RUA GOLD Contact
Robert Eckford
Chief Executive Officer
Tel: +1 604 655 7354
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 project and the results
thereof; and the Company's acquisition of Reefton Resources Pty Limited. 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 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's forward-
looking statements and reference should also be made to the Company's CSE Form 2A - Listing
Statement 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.
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