RUA GOLD permit and access extended for five years at the high grade Reefton Project and the Company targets Murray Creek in the near-mine drilling program
Permit and Land Access Agreements for drilling have been extended for a further 5 years
The Company's application to extend the permit and Access Agreement at the
This provides the Company full access to carry out an extensive drill campaign on 37 drill sites and includes the establishment of the associated infrastructure, including camps and pumping stations. The Company now has the rights to drill all the targets identified following our extensive surface exploration program which was focused on numerous near mine prospects over the four mine camps within the Company's permits at the
RUA GOLD's near-mine drilling program
The Company has commenced its near mine drill program with five targets in the
The Company has commenced with its first target in
Two diamond holes are planned to test the down dip extensions of the lode at depth. Accurate mapping of the dyke (UAV magnetics) and 3D structural mapping show significant potential for continuation at depth. Surface rock chips show grades up to 33 g/t Au (from No 3 Victoria Adit).
Drilling will target below the mined extent of the Victoria Lode at ~200 meters depth.
The Company finds the first target at
More information can be found at the Company's website: www.ruagold.com.
Historic Mine Evaluation, Proposed Drilling
The Company has completed a comprehensive evaluation of the historic mines in the Reefton Goldfield. This includes 3D modelling of the geology, structure, and historical mine lodes in a precursor to drill testing of priority targets, testing down-dip and potential duplicate structures in the vicinity of the historic mines.
RUA GOLD has commenced drilling the first of five targets in the
Grant of Deferred Share Units
The Company also announces that it has granted an aggregate of 326,327 deferred share units ("DSUs") to non-executive directors of the Company at a deemed price of
About RUA GOLD
RUA GOLD (RUA.CSE) is a new entrant to the mining industry, specializing in gold exploration and discovery in
The Company is committed to responsible and sustainable exploration, which is evident in its professional planning and execution. The Company aims to minimize its environmental impact and to execute on its projects with key stakeholders in mind. RUA GOLD has a highly skilled team of
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, has reviewed and approved the technical disclosure contained herein.
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 its drill programs at its Reefton project; and the Company's expected receipt of permits or other regulatory approvals. 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
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.
Appendix 1: Historic production from mining in the
Lode |
Easting |
Northing |
Quartz |
Au (kg) |
Total |
Recovered |
Recovered |
|
1510233 |
5336224 |
52,945.9 |
1,053.7 |
33,877.2 |
0.6 |
19.9 |
Perseverance |
1509653 |
5335145 |
57.9 |
0.6 |
19.3 |
0.3 |
10.4 |
Golden Fleece |
1509544 |
5335654 |
136,642 |
2,787.8 |
89,629.9 |
0.7 |
20.4 |
Venus |
1509084 |
5335145 |
11,046 |
219 |
7,041.0 |
0.6 |
19.8 |
Source: Barry, J.M., 1993. The History and Mineral Resources of the Reefton Goldfield. |
SOURCE