FULL DISCLOSURE: This is sponsored content for Rua Gold.
Rua Gold (TSXV: RUA) has begun drill testing its Cumberland gold camp target, which is part of its larger Reefton Goldfield project in New Zealand. The program follows the company using artificial intelligence to identify and rank drill targets across its asset base.
The initial drill program will see a total of six holes drilled at the Cumberland target, with the goal of defining the structure of the Gallant lode. The six initial holes are to be drilled from a single pad, with holes to be drilled to depths ranging from 70 metres to 150 metres. The target overall is said to consist of a 600 metre zone, which covers historical workings from the Gallant to the Sir Francis Drake areas, with quartz veins visible on surface.
Historical drilling here intersected 20.7 metes of quartz, with 1 metre assays ranging from 0.15 g/t to 1,911 g/t gold. Re-assaying this core has confirmed high grade, nuggety mineralization, which averaged 62.2 g/t gold over 20.7 metres. True width is estimated to be approximately 8.0 metres.
Following the initial six holes, subsequent drilling is set to target the remainder of the Cumberland gold camp, which consists of seven historic mines within a 2.2 kilometre long north-northwest trending zone. Alongside that trend is the Globe-Progress mine, which had historic production of over one million ounces of gold, with mining occurring as recently 2015 by OceanaGold.
READ: Rua Gold Drills 3.8 g/t Gold, 11.9% Antimony Over 2.0 Metres At Auld Creek
“The Gallant prospect represents the first VRIFY target to be drilled in 2025. With a history of compelling high-grade gold, it lies in structurally complex steeply folded sequence of rocks, is traceable on surface over 600m, and remains largely untested along strike and at depth. Located just 3km south of a major road and accessible via a 4WD track, Gallant has logistical simplicity for exploration and potential development,” commented Simon Henderson, COO of Rua.
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.
