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Hauraki boasts a significant footprint in high-grade gold and silver mining, with circa 50 epithermal deposits mined since the 1860s. They have produced over 15Moz of gold and 60Moz of silver. Notably, the Martha mine in Waihi has yielded around 10Moz of gold to date.
RUA GOLD’s recent acquisition, Glamorgan, holds a 3.8km zone showing signs of gold mineralization, supported by soil samples and rock samples indicating gold prospectivity. Within Hauraki, Glamorgan presents the classic features of a major epithermal gold-silver system. This target remains unexplored through drilling, offering an exciting opportunity for future discoveries.
The Hauraki Goldfield has been mined since the 1860’s, producing >15Moz gold and >60Moz silver
RUA GOLD’s Glamorgan property is located 2.8km away from OceanaGold’s recent discovery with the same geology
The Glamorgan Wires Ridge Prospect is a 3.8km long zone with classic surface features of a major epithermal gold-silver system
Footprint of a Major Epithermal Gold System Adjacent to OceanaGold’s Recent Major Discovery
Neighboring mines are currently producing high grade gold.
RUA GOLD’s rights to explore Glamorgan were acquired in October 2023. OceanaGold previously held the exploration permits over Glamorgan from 2013 to 2023, however had to relinquish the permit due to lack of activity.
RUA GOLD made an application under the NAA (newly available acreage) to explore Glamorgan. This application was granted for a 5 year period, with priority to extend for a further 5 years. RUA GOLD subsequently applied for an extension of land to Glamorgan, which was granted in December 2024.
The 14,964.8-hectare Glamorgan permit includes the highly prospective Wires Ridge among several targets, identified in exploration since the 1970s.
Hydrothermal alteration in subsurface Miocene and Pliocene andesite and dacite volcanism occurs mainly in steeply angled epithermal quartz veins.
From 1976 a string of companies explored in the Glamorgan area: Amoco Minerals NZ Ltd, BP Oil NZ Ltd, Delta Gold NZ Ltd, and then Newmont Mining (2006 – 2016).
Newmont and Glass Earth Ltd worked Glamorgan in a joint-venture until OceanaGold acquired the permit in 2015. Exploration included 11 line kilometres of electromagnetic surveying, 176 gravity stations, extensive geochemical sampling, and drilling of 3 holes but no ore intercepts.
Exploration at Wires Ridge has elevated Au, Sb, As and Hg in soils, and microcrystalline, opaline and chalcedonic quartz in veins along a 3.8km-long zone. Hydrothermal alteration of surrounding rocks demonstrates upper levels of a gold mineralised epithermal system.
31,220m drilled in 72 holes with significant discovery confirmed in the 37th and 42nd holes.
WKP42: 8.7m true width @ 24.5 g/t Au and 32.0 g/t Ag
22.8 g/t Au & 39.0 g/t Ag over 48.9m
0.64Moz @ 13.5g/t Au (Ind)
0.7Moz @ 9.4g/t Au (Inf)
(OceanaGold R & R Annual Statement, March 31, 2022)
© 2024 RUAGOLD
