Gold explorer RUA GOLD (WKN A40QYC / TSX RUA) has published new independent technical reports for its Reefton projects on the South Island and Glamorgan on the North Island of New Zealand. The reports were prepared in accordance with Canadian Standard NI 43-101 and are available on the SEDAR+ platform. With this update, RUA GOLD presents a revised Mineral Resource Estimate (MRE) for several deposits in the Reefton Goldfield and simultaneously launches an extensive drilling program to expand the resource base.
The new technical reports were prepared by the independent consulting firm RSC Consulting. They form the basis for the next development phase, in which RUA GOLD is preparing both technical studies and permitting procedures for a potential future mine.
RUA GOLD Updates Resource Profile in the Reefton Goldfield
The update focuses on the Auld Creek deposit within the Reefton project. According to the new resource estimate, RUA GOLD has an Indicated Resource of approximately 0.3 million tonnes with an average of 3.18 g/t gold and 1.2% antimony. This corresponds to approximately 31,000 ounces of gold and about 3,000 tonnes of antimony, or approximately 54,000 ounces of gold equivalent.
Additionally, the project has an Inferred Resource of approximately 1.25 million tonnes with 2.0 g/t gold and 0.8% antimony. This includes approximately 79,000 ounces of gold and 10,000 tonnes of antimony, which corresponds to approximately 149,000 ounces of gold equivalent.
In addition to Auld Creek, the updated resource model includes other prospecting areas in the Reefton region, including Alexander River, Big River, and Supreme. Together, these result in additional gold resources in the “Inferred” category.
For example, the Alexander River target areas contain a total of approximately 1.35 million tonnes with an average of 3.6 g/t gold, which corresponds to approximately 156,000 ounces.
The Big River project also has an Inferred Resource of approximately 1.16 million tonnes with 2.72 g/t gold.
Finally, the Supreme Zone contains a resource of approximately 1.46 million tonnes with 1.96 g/t gold.
With this data, RUA GOLD has several mineralized systems in the historic Reefton Goldfield, which has been known for gold production since the 19th century.
19,000-Meter Drilling Program Launched
In parallel with the release of the technical reports, RUA GOLD has launched an extensive drilling program. A total of 19,000 meters of drilling is planned, to be carried out across ten drill platforms.
Four drill rigs have been in operation since early March 2026. The primary goal of the work is to expand the existing resource at Auld Creek and simultaneously improve the data basis for economic studies.
The program focuses on two key tasks:
- Resource expansion along strike to the north
- Investigation of mineralization at greater depths
According to the company, the gold-antimony mineralization remains open in both directions. The known zones currently extend approximately 400 meters to the north without being fully delineated.
The new drilling will also help to convert parts of the existing “Inferred” resources into the higher “Indicated” category. Such data are considered important for later economic evaluations and technical studies.
Economic Studies and Permits Planned
Based on the new resource data, RUA GOLD is preparing several economic studies. In the first half of 2026, the company plans to complete a Preliminary Economic Assessment (PEA). This study serves as the initial economic evaluation of a project in the mining industry.
Building on this, the company plans a Pre-Feasibility Study (PFS) in the second half of 2026. This more detailed analysis examines the technical and economic aspects of a potential mining operation and often forms the basis for subsequent investment decisions.
In parallel, RUA GOLD is working on permitting processes in New Zealand. The company is currently preparing a Fast-Track Referral application, which is intended to accelerate the permitting process.
Preparatory work includes environmental and social studies, as well as further technical investigations.
International Consulting Partners for Project Studies
RUA GOLD has engaged several specialized consulting firms for the planned studies.
The engineering firm Pitch Black Group is undertaking metallurgical test work and studies on ore processing and the potential processing flow sheet. Pitch Black is also working with infrastructure and tailings specialist Knight Piesold on concepts for waste dumps and tailings storage.
In parallel, the consulting firm Mining One is conducting studies on underground mining. This work includes, among other things:
- Development of an initial mine design
- Creation of a preliminary mining plan
- Planning of access, ventilation, and transport routes
Mining One is supported by the New Zealand company Terra Firma Mining, which contributes local expertise and operational experience to the planning.
Basis for Potential Project Development
With the new technical reports and the ongoing drilling program, RUA GOLD continues to expand its data basis in the Reefton Goldfield. The updated resource estimate forms the foundation for technical studies and potential permitting procedures.
Whether and to what extent the resources will later lead to a mining operation depends on the results of the ongoing drilling, the economic studies, and regulatory approvals.
