FULL DISCLOSURE: This is sponsored content for Rua Gold.
Rua Gold (TSXV: RUA) has released assay results from ongoing drilling at its Auld Creek project, where it has encountered both gold and antimony mineralization. Early indications from the company suggest that the project may hold the largest antimony resource in New Zealand.
Highlights from the results include:
- ACDH024: 12.2 g/t gold equivalent (1.9 g/t gold and 2.4% antimony) over 12.0 metres from a depth of 105 metres
- Including 54.8 g/t gold equivalent (3.8 g/t gold and 11.9% antimony) over 2.0 metres
- ACDH025: 13.2 g/t gold equivalent (2.2 g/t gold and 2.2% antimony) over 8.0 metres from a depth of 106 metres
- Including 33.2 g/t gold equivalent (3.6 g/t gold and 6.9% antimony) over 3.0 metres
Drilling to date is said to have confirmed that higher grade antimony exists within the Fraternal ore shoot at Auld Creek, which exists within a broader lower grade halo. Current modeling estimates that mineralization plunges to the south, and remains open to the south along strike and at depth. Current drilling is focused on the southern end of the shoot to expand the current resource.
Auld Creek currently has an inferred resource of 67,000 ounces of gold and 8,000 tonnes of antimony, at grades of 3.1 g/t gold and 1.1% antimony. The resource currently covers two of four known shoots on site, with soil geochemistry currently suggesting additional shoots exist over a strike length of 2.5 kilometres. Rua Gold commenced a drill program in December, targeting four mineralized shoots that were identified from historical exploration work.
READ: Rua Gold Intersects 27.2 g/t Gold, 1.35% Antimony Over 0.3 Metres At Murray Creek
“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,” commented Robert Eckford, CEO of Rua Gold.
Rua Gold last traded at $0.60 on the TSX Venture.
FULL DISCLOSURE: Rua Gold is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Rua Gold on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
