Having hit a record high last Thursday of $2,200 an ounce, the general consensus is that the gold market will "continue to thrive over a longer horizon" as gold's value remains resilient in the face of global economic conditions.
Combining both the world's currently unable to meet annual gold demand and the widespread uncertainty in the global economy, gold provides a unique market opportunity for both investors and companies alike.
Rediscovering New Zealand's Gold Districts
Providing the ability to capitalize on the potential upside of discovering untapped gold reserves, junior mining company, RUAGold (RUA.c) is a brand-new, de-risked and high-grade gold explorer in New Zealand with $7.5M in cash and 3 years of private exploration under its belt before going public
RUA boasts a robust portfolio within two premier gold districts in New Zealand, the Reefton and Hauraki Districts.
New Zealand is a pro-mining country with a long history of gold production as the districts have historically produced over 43M oz of Gold.
With a long history of gold production, the Reefton Goldfield has produced over 3M oz of gold at an average grade of ~26g/t.
In aiming to target previously underexplored areas, RUA holds 50% of the historical mining areas in the Goldfields from 6 contiguous properties.
So far, RUA's projects have only been mined to ~150m thus incredible upside remains as some projects are already known to be open at depth. This includes the Blackwater Project which has known mineralization in the existing resource that goes to 1,500m & is still open at depth.
In the Hauraki District, Rua's Glamorgan Project is an exciting new epithermal gold prospect spanning over 4,600 hectares with promising geological features.
Glamorgan covers a vast 3.8km zone displaying silification veining and alteration indicative of major epithermal gold-silver system
Affirming the prospectivity of the over 50 epithermal gold-silver deposits, recent rock chip samples and soil sampling highlighted gold anomalies along the zone, revealing grades of up to 95 g/t Au.
Underscoring the district and projects potential, Glamorgan is located just 2.8km from OceanaGold's Wharekirauponga Project, an advanced high-grade gold project with an indicated resource of 1.5M tonnes at 13.5g/t gold & inferred resource of 2.3Mt at 9.4g/t gold
Aimed at delineating high-grade gold mineralization targets, RUA is anticipating the commencement of multiple drill and exploration programs at its projects, taking a systematic approach to exploration.
Led by team of seasoned professionals with decades of collective experience in mining & the exploration industry, RUA's capital structure reflects solid financial foundation with mcap of $19.5M and cash position of $7.5M upon completion of the reverse takeover transaction.
Conductive to future growth and value appreciation, RUA boasts a favourable share structure with increasing insider ownership demonstrating the team's confidence in their assets.
Posted on Behalf of RUAGold Inc.