About the Project
Glamorgan Property
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.
Highlights
Highly Prospective Area
The Hauraki Goldfield has been mined since the 1860’s, producing >15Moz gold and >60Moz silver
Neighboring Mines
RUA GOLD’s Glamorgan property is located 2.8km away from OceanaGold’s recent discovery with the same geology
Target Identified
The Glamorgan Wires Ridge Prospect is a 3.8km long zone with classic surface features of a major epithermal gold-silver system
Glamorgan Has the Classic Surface Features of a Major Epithermal Gold-silver System
Footprint of a Major Epithermal Gold System Adjacent to OceanaGold’s Recent Major Discovery
Glamorgan has the classic surface features of a major epithermal gold-silver system
- Untested 3.8km long zone of silicification, veining and alteration
- >50ppb gold in soils over its 3.8km length
- Microcrystalline quartz, opaline and chalcedonic quartz, high levels in the epithermal system
- Anomalous Au-as-Sb-Hg geochemistry indicates above or upper levels of a bonanza zone
- Rock samples on surface up to 95g/t gold
- Highly prospective Wentworth and Sainsbury Targets also within the permit
Historic Production Over 15Moz Gold, 60Moz Silver
Glamorgan is Located in an Epithermal Goldfield, Home to Some of the World's Highest Grade of Gold
Neighboring mines are currently producing high grade gold.
Glamorgan
Exploration
- An ultra detailed UAV (drone) magnetic geophysical survey, which has identified structures at different scales and hydrothermal alteration signatures that are key to the focus of high-grade gold deposition
- Detailed geological mapping, with approximately one-third of the prospect mapped so far, which has assisted in targeting gold enrichment zones
- Soil sampling (with pXRF analysis and low-level gold assay) on a 250 m x 20 m grid across the prospect, for a total of ~3,200 samples, highlighting two main targets for further exploration
- Rock-chip sampling of outcrop and stream float, with the highest grade sample being 43.1g/t Au, which is being used to vector in on gold enrichment zones
- Short-wave near infrared (SWIR) reflectance spectrometry analysis of soil and rock-chip samples and historical drill core to identify clay alteration minerals that formed during hydrothermal alteration
- A CSAMT (Controlled-Source Audio-Magnetotellurics) ground geophysical survey. CSAMT is a tool used extensively and successfully in the delineation of Martha and Wharekirauponga gold deposits
- Further soil sampling to infill prospective areas to a 125 m line spacing and extend the existing grid in places
- Ongoing detailed geological mapping and rock-chip sampling to complete coverage over the prospect and assist with drill targeting
RUA GOLD's acquisition of Glamorgan
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.
Our Neighbor
Wharekirauponga – OceanaGold
Mining Permit Granted Resource Consents in Final Stages Fast Track Approval Progressing
Discovery Intercept
WKP42: 22.8 g/t Au & 39.0 g/t Ag over 48.9m
PFS results as at December 2024
Initial Mineral Reserve of 1.2Moz of gold @ 9.2 g/t
NPV5% $621 million
IRR of 24% (both at $2,400 gold)
(Source: OceanaGold Pre-Feasibility Study, December 11, 2024)
Growth Potential
June 2025, OceanaGold reported:
- From drill in 2025, EG vein zone, extends the known strike of mineralization to ~1.4 km.
- System open in all directions
- 5,000 meters of drilling remaining in 2025
