Rua Gold (CSE:RUA) has announced that it has received a drone concession from the Department of Conservation (DoC) for its Glamorgan Project. The project, located on the North Island of New Zealand, is situated 2.8km north of OceanaGold’s Wharekirauponga Project (WKP). Following the receipt of the concession, Rua Gold’s exploration team has mobilized, and magnetic geophysical surveys are currently underway.

The Company has allocated a well-funded exploration program to the Glamorgan Project and has applied for minimum impact access from DoC to allow for soil sampling, resistivity geophysical surveys, and geological mapping. Rua Gold expects to receive this access in Q2 2024. Once the surface exploration work is completed, the Company plans to design a drill program and apply for full access to commence exploration drilling by the end of the year.

The Glamorgan Project has gained increased attention following OceanaGold’s inclusion of the accelerated development of WKP in New Zealand’s newly introduced Fast Track Approvals Bill on May 5, 2024. This development has created a road map for Rua Gold’s exploration activities in the area.

The Glamorgan Project comprises over 4,600 hectares in the Hauraki district, located on the North Island of New Zealand. The project’s proximity to OceanaGold’s WKP, which has Indicated resources of 1.01 Moz at 15.9 g/t, makes it a compelling exploration target. The area has a rich history of gold and silver production, with over 15 million ounces of gold and 60 million ounces of silver extracted to date.

Rua Gold’s Chief Operating Officer, Simon Henderson, has extensive experience in the area, having previously joint-ventured both the Glamorgan Project and WKP Project and being a member of the exploration team that led to WKP’s discovery.

Previous exploration work at the Glamorgan Project has outlined a zone of silicification, veining, and alteration with > 50 ppb gold in soils over a 3.8km length. Rock samples in the vicinity have returned assays of up to 95g/t gold, exhibiting classic features of an epithermal gold mineralized system.

Rua Gold is a relatively new entrant to the mining industry, specializing in gold exploration and discovery in New Zealand. The Company aims to combine traditional prospecting practices with modern technologies to uncover and capitalize on valuable gold deposits while maintaining a strong commitment to responsible and sustainable exploration practices.

The Company’s professional planning and execution are designed to minimize environmental impact and consider key stakeholders in the process. Rua Gold’s highly skilled team of New Zealand professionals possesses extensive knowledge and experience in geology, geochemistry, and geophysical exploration technology, which will be instrumental in the successful exploration of the Glamorgan Project and other potential projects in the future.

As Rua Gold continues its exploration activities at the Glamorgan Project, investors and industry experts will be closely watching the Company’s progress and the potential for significant gold discoveries in this historically productive region of New Zealand.

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.