Rua Gold (TSX-V:RUA) has begun an expanded drilling program across the Reefton Project in New Zealand, following completing an oversubscribed and upsized financing last month.
As a result of completing the financing, Rua Gold has C$38 million in available cash.
The expanded drill program underway at Reefton has two primary objectives, with three rigs operating at the Auld Creek target and one rig focusing on other highly ranked, prospective targets.
At Auld Creek, drilling is continuing to expand the existing resource, while at the other targets, Rua Gold aims to identify the next optimal target for low-capital intensity resource definition.
Work is also ongoing with RSC Consulting to complete an updated technical report for the Reefton Project. The technical report is expected to be published by the end of March 2026.
Rua Gold says the completion of this report will establish a baseline resource at Auld Creek and support ongoing drill planning.
The company is also advancing permitting-related activities on the West Coast of New Zealand, with key partners being appointed to support environmental studies and permitting processes.
Engagement with local Māori stakeholders, Te Runanga o Ngāti Waewae, has been ongoing with respect to exploration activities and future development plans. Ngāti Waewae are strong supporters of the project and will work closely with Rua Gold throughout the fast-track permitting process.
Subject to a successful referral application, Rua Gold is targeting to submit the fast-track mining permit application by the end of 2026.
Meanwhile at the Glamorgan Project located in the North Island of New Zealand, a 5,000m drilling program has begun with two rigs to operate over a six-month period.
Rua Gold is a junior mineral explorer strategically focused on gold discoveries in New Zealand.
The company controls the Reefton Gold District as the dominant landholder in the Reefton Goldfield on New Zealand’s South Island with over 120,000 hectares of tenements, in a district that historically produced over 2 million ounces of gold grading between 9 grams per tonne and 50g/t.
The Glamorgan Project is located within the North Islands’ Hauraki district, a region that has produced 15 million ounces of gold and 60 million ounces of silver. Glamorgan is adjacent to OceanaGold Corporation’s (TSX:OGC) biggest gold mining project, Wharekirauponga.
Write to Aaliyah Rogan at Mining.com.au
Images: Rua Gold
