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RUA GOLD Expands Reefton Drill Program and Provides Strategic Outlook
BarrickBarrick(US:GOLD) Newsfileยท2025-08-05 11:00

Core Viewpoint - Rua Gold Inc. is expanding its drilling program at the Reefton Project in New Zealand, with a fully funded 12-month exploration strategy aimed at increasing gold resources and transitioning from an explorer to a developer [1][7]. Reefton Drill Program Expansion - A total of 4,000 meters of diamond drilling is planned at Auld Creek with two drill rigs over the next four months, targeting an increase of the inferred resource to over 300,000 gold-equivalent ounces by the end of 2025 [6][14]. - A third drill rig is being mobilized to focus on high-grade gold shoots at Cumberland, following strong results reported in May 2025 [6]. - Alexander River is identified as a high-priority surface target, with drilling expected to commence in Q4 2025 [6][19]. Glamorgan Drill Program Commencement - The Glamorgan project on the North Island is set to begin drilling in Q4 2025, following extensive surface exploration that identified significant gold-arsenic soil anomalies [21][22]. Corporate Developments - The company has a robust financial position with a cash balance of $14 million as of June 30, 2025, and plans to allocate $1 million into marketing over the next 12-18 months [6]. - New investor relations agreements have been established with Capital Gain Media Inc. and Sidis Holdings, each for a fee of $120,000 plus applicable taxes [23][25]. Strategic Outlook - The company aims to enter the "Fast Track Permitting Process" in 2026, leveraging New Zealand's supportive permitting regime to rapidly build its resource base [7]. - The Reefton Goldfield has historically produced over 2 million ounces of gold, and the company controls 120,000 hectares within this district [9][27].