RUA GOLD Reports Significant Gold-Antimony Intercepts from Its Reefton Project
RUA GOLD Reports Significant Gold-Antimony
Intercepts from Its Reefton Project
Vancouver, British Columbia--(Newsfile Corp. - February 25, 2025) - Rua Gold Inc. (TSXV: RUA)
(OTCQB: NZAUF) (WKN: A40QYC) ("
RUA GOLD
" or the "
Company
") is pleased to provide an update
on assay results from its gold-antimony exploration at the Auld Creek project, within the Reefton
Goldfield on the South Island of New Zealand; reporting strong antimony grades from current drilling.
Highlights:
Drilling of Auld Creek commenced in December 2024, holes ACDD024 and ACDD025
intersected 4-5m of strong visible stibnite (antimony) mineralization.
Assay results show:
ACDDH024: 12m @ 12.2g/t AuEq
1
(1.9g/t Au & 2.4% Sb) from 105m depth
Including 2m @ 54.8 g/t AuEq
1
(3.8g/t Au & 11.9% Sb)
ACDDH025: 8m @ 13.2g/t AuEq
1
(2.2g/t Au & 2.2% Sb) from 106m depth
Including 3m @ 33.2g/t AuEq
1
(3.6g/t Au & 6.9% Sb)
Auld Creek has an inferred resource hosted by two ore shoots, Bonanza and Fraternal. This
resource outcrops at surface and is continuous to 160m vertically and open at depth.
Drilling has confirmed higher grade antimony mineralisation on the Fraternal shoot within a
broader lower grade gold halo. Modelling suggesting a gentle plunge to the south, remains open to
the south along strike and at depth with drilling commencing to the south to expand the existing
resource.
Surface exploration is intensifying to target extensions to the Fraternal and Bonanza north and
south, where it remains open over a 2.5km length.
Robert Eckford, CEO of RUA GOLD commented:
"The results from these two holes drilled at Auld
Creek show increased antimony grades which is very encouraging. It further supports the fact that we
are holders of New Zealand's largest antimony resource and are delivering on the commitment to our
shareholders to build on our inventory of gold ounces and antimony tonnes at our Reefton project.
Drilling to date on Auld Creek antimony-gold prospect has improved confidence in the existing
resource and provided detail on higher grade plunging shoots open to the south. We are focused on
expanding the Auld Creek resource north and south, with intensified surface exploration to assist
targeting additional mineralization over its 2.5km surface strike length.
This comes on the back of both gold and antimony trading at all time high spot prices and both
commodities being announced on New Zealand's first ever critical minerals list."
1. Using recent spot prices of gold and antimony, and applying a ~30% discount, the gold equivalent formula is based on AuEq = Au g/t + 4.3 x Sb%
using a Au price of US$2065/oz, Sb price of US$34,300 per tonne and 85% recovery.
Figure 1: Overview of the Reefton Goldfield.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10755/242259_e2854799c4fc58fb_007full.jpg
GLOBAL SUPPLY AND VALUE OF ANTIMONY
Antimony is a critical mineral sourced from stibnite (Sb
2
S
3
).
In 2023, it was reported by the Critical
Minerals Institute (CMI) as one of the scarcest of all critical minerals. Spot prices have risen as demand
increases with its essential input into applications across renewable energy, liquid battery metals,
defence and technological sectors.
Due to its scarcity and limited supply, predominantly controlled by China, Russia & Tajikistan, antimony
is considered a strategic material essential for supply-chain security, particularly during periods of
geopolitical instability. This was heightened in August 2024, when China announced export controls on
processed antimony products. In response to these controls, nations have accelerated their efforts to
secure alternative sources of antimony to mitigate the risk of significant supply chain vulnerabilities.
The US, EU, UK, Japan, Canada and Australia all designate antimony as a critical mineral. On January
31, 2025, New Zealand also announced their Critical Mineral List which included antimony.
Reflecting heightened demand, the price of antimony continues to reach new highs, trading over
US$50,000 per tonne, a significant increase from US$11,350 per tonne at the start of 2024.
EXPLORATION POTENTIAL
Auld Creek Focus
RUA GOLD commenced drilling at Auld Creek in December 2024. It has a targeted program to drill four
mineralised shoots identified from historical surface exploration work interpreted by the RUA GOLD
team over the past 3 months.
Auld Creek is situated between two past producing mines, Globe Progress mine, and the Crushington
Group of mines which collectively produced 933,000oz at 14.0g/t Au (Barry 1993). Auld Creek has three
historic adits but no commercial production from the reefs.
RUA GOLD has an inferred resource indicating 700,000 tonnes at 3.1g/t Au and 1.1% Sb for 67,000oz
of gold and 8,000 tonnes of antimony
2
. The resource is restricted to two of the four known shoots. Soil
geochemistry indicates the potential for discovery of additional mineralised shoots over a strike length of
2.5km.
2. Please see the Company’s technical report entitled, “Technical Report on Reefton Project, New Zealand”, dated October 30, 2024.
Two of the four holes completed to date intersected 4-5m of strong visible stibnite (antimony sulfide)
mineralization in the Fraternal-Bonanza structure. No significant mineralization was found in holes
ACDDH022 and ACDDH023. Results from ACDDH024, ACDDH025 confirm the average gold grades
of current resource estimate but report higher antimony grades. Full table of results are in Tables 1 and 2
of the appendices.
Ongoing drilling is targeting the southern plunging Fraternal gold-antimony shoot which remains open
along strike and at depth.
Intensified surface exploration is focused both north and north-west to delineate drill targets on the
Fraternal North and Bonanza north-west extensions.
Figure 2: Fraternal and Bonanza ore shoots
at Auld Creek.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10755/242259_e2854799c4fc58fb_008full.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.
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 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
Drillholes sampled 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.
Pulverized drill core samples were analyzed 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.
The detection limit for Au by this method is 0.01 ppm. As part of SGS' internal quality control, SGS
conducted repeat analyses, also at a rate of ~5%.
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.
Table 1: Summary of assay results from hole ACDDH024.
Hole ID
Azimuth
Dip
(⁰)
Easting
(NZTM)
Northing
(NZTM)
From
To
Interval (m)
Au g/t
Sb %
Au Eq
ACDDH024
220
-37
1507290
5333147
105
106
1
1.28
0.03
1.41
106
107
1
1.65
0.01
1.69
107
108
1
1.65
0.05
1.86
108
109
1
1.79
0.04
1.96
109
110
1
3.34
0.74
6.51
110
111
1
1.71
0.89
5.53
111
112
1
2.16
0.13
2.72
112
113
1
1.18
0.34
2.64
113
114
1
5.18
9.99
48.03
114
115
1
2.42
13.80
61.61
115
116
1
0.33
1.50
6.76
116
117
1
0.32
1.61
7.23
from 105m
12
1.92
2.43
12.33
from 113m
2
3.80
11.90
54.82
Note: Intervals represented are down-hole intervals, and averages are arithmetic.
Table 2: Summary of assay results from hole ACDDH025.
Hole ID
Azimuth
Dip
(⁰)
Easting
(NZTM)
Northing
(NZTM)
From
To
Interval (m)
Au g/t
Sb %
Au Eq
ACDDH025
246.8
-53.6
1507290
5333147
116
117
1
1.9
0.01
1.94
117
118
1
0.48
0.01
0.52
118
119
1
0.77
0.02
0.86
119
120
1
1.14
0.01
1.18
120
121
1
2.4
0.73
5.53
121
122
1
7.29
3.87
23.89
122
123
1
2.49
15.6
69.40
123
124
1
1.04
1.29
6.57
from 116m
8
2.2
2.7
13.74
from 121m
3
3.6
6.9
33.29
Note: Intervals represented are down-hole intervals, and averages are arithmetic.
Table 3: Significant drilling intercepts for Auld Creek, full mineralized zone composites (1.5 g/t Au cut-
off)
1
.
Hole ID
Azimuth
Dip
(⁰)
Easting
(NZTM)
Northing
(NZTM)
From
(m)
To
(m)
Downhole
Interval (m)
Au (g/t)
Sb
(%)
ACDDH004
45
-60
1507194
5332976
51.72
57.9
6.18
1.59
0,01
ACDDH004
45
-60
1507194
5332976
116.19
136.84
20.65
5.41
2.17
ACDDH005
100
-60
1507194
5332976
57.66
64.41
6.75
1.64
0.06
ACDDH005
100
-60
1507194
5332976
65.8
80.35
14.55
2.07
0.10
ACDDH007
40
-58
1507185
5332881
123.22
148.45
25.23
3.14
0.07
ACDDH008
100
-58
1507186
5332881
72.14
76.35
4.21
1.55
0.02
ACDDH011
130
-81
1507212
5333051
75.3
83.4
8.1
2.73
4.33
ACDDH015
158
-58
1507204
5333139
69.6
82
12.4
5.19
13.65
ACDDH015
158
-58
1507204
5333139
105
132.4
27.4
3.67
0.2
ACDDH016
330
-55
1507202
5333141
65
90
25
6.55
0.29
1
.
Full drilling results are available in the Company's technical report entitled, "Technical Report on Reefton Project, New Zealand", dated
October 30, 2024.
To view the source version of this press release, please visit
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