RUA.c Initiates Exploration at Glamorgan Project RUA GOLD (CSE: RUA, OTC: NZAUF, WKN: A4010V), a new player in the gold exploration sector in New Zealand, has officially launched its exploration activities at its Glamorgan Project in the North Island's Hauraki Goldfields.
This area has a rich history of gold production, having yielded over 15 million ounces of gold and 60 million ounces of silver.
The Company has secured a drone concession from the Department of Conservation (DoC), allowing it to conduct magnetic geophysical surveys at the site, which is located 2.8 kilometers north of OceanaGold’s Wharekirauponga Project (WKP).
The Glamorgan Project, spanning over 4,600 hectares, holds significant promise due to its proximity to OceanaGold’s WKP, which boasts Indicated resources of 1.01 Moz at 15.9 g/t.
RUA is also in the process of applying for minimum impact access from the DoC to conduct soil sampling, resistivity geophysical surveys, and geological mapping. These activities are anticipated to commence this quarter, paving the way for the design of a drilling program and the application for full access to begin exploration drilling by the end of the year.
The recent inclusion of OceanaGold’s WKP project in New Zealand’s Fast Track Approvals Bill is a positive development for RUA GOLD, providing a clear pathway for accelerated project development.
Robert Eckford, CEO of RUA GOLD, expressed optimism, stating, “This is a great first step to have boots on the ground at our Glamorgan Project and enabling us to start surface exploration work, so we are ready for drilling by the end of the year. The continuous exceptional results coming from OceanaGold’s WKP project are extremely encouraging, and we see the exact same surface features at our Glamorgan Project.”
The Company’s exploration team, comprising highly skilled professionals with extensive experience in geology, geochemistry, and geophysical exploration technology, has mobilized to the Glamorgan site.
Simon Henderson, Chief Operating Officer, brings valuable expertise, having previously joint-ventured both the Glamorgan Project and WKP Project, contributing to their discoveries.
RUA GOLD’s well-funded exploration program is expected to yield significant insights into the mineral potential of the Glamorgan Project.
Previous exploration in the area has identified a zone of silicification, veining, and alteration with gold concentrations greater than 50 ppb in soils over a 3.8-kilometer length, and rock samples returning up to 95 g/t gold.
Full news here: https://ruagold.com/rua-gold-commences-exploration-program-at-the-glamorgan-project-on-the-north-island-of-new-zealand/
Posted on behalf of RUA GOLD Corp.