New Zealand's Mining Momentum & RUA's Gold Exploration "We are turbo-charging the legislation…"
As shown in this interview with New Zealand's Minister of Resources, Shane Jones, NZ's government is very supportive of the mining industry and is fast-tracking mining-positive legislation.
https://www.iheart.com/podcast/1049-the-country-28628176/episode/the-country-full-show-thursday-march-156818069/
Taking advantage of this mining-friendly environment, RUA Gold (Trading as RUA.c or NZAUF for US investors) is working to unearth gold in New Zealand's Reefton and Hauraki gold districts.
The Reefton Goldfield alone has a remarkable mining history, with over 2 million ounces of gold produced at an average grade of 24.4g/t, providing a promising backdrop for RUA's endeavors. The company holds extensive assets in the area, covering 56,000 hectares, a substantial portion of the goldfield.
Recent exploration efforts by RUA in Reefton have yielded positive results, particularly with the discovery of the Pactolus vein, a prime target for drilling. Through meticulous soil sampling, comprising over 16,000 samples, along with geological mapping and UAV magnetics, promising exploration targets have been identified.
By the end of 2023, RUA completed 26 drill holes at the Pactolus vein, totaling 4,377 meters, with encouraging outcomes. Ongoing drilling activities are already underway at RUA's properties in the Reefton district, with plans for 2,500 meters of additional drilling at Pactolus in 2024, alongside 3D modeling of other targets, and continued soil sampling and geological mapping efforts.
Beyond Reefton, RUA Gold's Glamorgan project in the Hauraki district shows potential, with soil samples revealing gold concentrations exceeding 50ppb over a 3.8km stretch, and rock samples indicating gold values up to 95g/t.
Under the guidance of experienced professionals, and with a $7.5 million cash position, RUA's exploration strategy aims to unlock the full potential of its assets in Reefton and Hauraki through strategic drilling programs.
Full press release: https://ruagold.com/rua-gold-provides-an-update-on-the-2024-exploration-program-for-its-new-zealand-gold-projects/
Posted on behalf of RUA GOLD Corp.