Gold Prices on the Rise: RUA GOLD Inc. Reports Strong Drilling Results
Equity Insider News Commentary
Issued on behalf of RUA GOLD Inc.
VANCOUVER, BC, April 25, 2025 /PRNewswire/ — Analysts at JP Morgan forecast gold prices reaching $4,000/oz by Q2 2026, underscoring their optimism despite current market volatility. A report from Morningstar Equity Research highlights the correlation between high gold prices and the performance of gold mining stocks. Following this trend, experts at Jefferies have raised their price targets for various gold mining companies ahead of upcoming earnings reports. Companies drawing recent investor interest include RUA GOLD Inc.RUA NZAUF, Contango Ore Inc. (NYSE-American: CTGO), Prime Mining Corp.PRYM PRMNF, Troilus Gold Corp.TLG CHXMF, and Goliath Resources LimitedGOT GOTRF.
With gold maintaining its status as a safe haven, demand continues to build alongside rising prices. Gold miners are performing well, as indicated by the year-to-date gains of the VanEck Junior Gold Miners ETF (GDXJ) and Sprott Junior Gold Miners ETF (SGDJ), which have seen increases of +44.80% and +39.58%, respectively, as of April 24, 2025.
RUA GOLD Inc. RUA NZAUF, a gold exploration company focused on New Zealand, recently announced promising drill results from its Auld Creek project located in the Reefton Goldfield. The assays indicate improved gold grades at depth along the Fraternal ore shoot. Noteworthy findings include 9.0 meters at 5.9 g/t gold equivalent (5.2 g/t Au and 0.16% Sb) from hole ACDDH027, and 1.25 meters at 48.3 g/t AuEq (13.3 g/t Au and 8.1% Sb) from ACDDH028. These results, coming from depths of 80 to 100 meters beneath the existing resource envelope, support the company’s hypothesis that gold-antimony mineralization becomes richer at lower levels.
Notably, the Auld Creek project is only one part of RUA’s broader exploration effort in the Reefton district, where the company currently holds 95% control over the historic goldfield.
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RUA Gold is employing a modern approach to exploring one of New Zealand’s most prestigious gold districts by utilizing advanced geological modeling and AI-driven targeting methods throughout the Reefton Goldfield.
This strategy appears effective. At their flagship Auld Creek project, RUA has reported early drill results revealing hits such as 12 meters at 12.2 g/t gold equivalent, alongside a notable 2 meters at 54.8 g/t gold. Surface sampling has also discovered antimony grades exceeding 40%. So far, four mineralized shoots have been identified, yet only two contribute to the current inferred resource of 700,000 tonnes grading 3.1 g/t gold and 1.1% antimony—indicating substantial potential for resource growth.
As the 2025 drill season progresses, exploration expands across the Reefton district.
Active drilling programs are currently being conducted at Murray Creek and the Gallant prospect within the Cumberland camp. Gallant, identified as a high-priority site with AI technology, is located just 3 kilometers from the historic Globe Progress mine, where OceanaGold extracted more than 610,000 ounces of gold from 2007 to 2016, in addition to the 424,000 ounces mined before 1950. Historically, the Reefton belt has produced over 2 million ounces of gold, with grades that once reached 50 g/t.
Gallant is currently being explored for possible extensions of a previously reported 20.7-meter vein grading 62.2 g/t gold, including a remarkable 1-meter segment with an exceptional grade of 1,911 g/t. Meanwhile, at Murray Creek, visible gold has been reported in ongoing drilling activities.
RUA Gold Pursues Expansive Opportunities in New Zealand’s Mining Sector
RUA Gold is making notable progress in its mining operations, particularly in Reefton, where encouraging signs have emerged in the majority of drilling holes. This marks a strong indication for a system still in its developmental stages.
Beyond Reefton, RUA Gold is advancing its Glamorgan Project located on New Zealand’s North Island, near OceanaGold’s Wharekirauponga (WKP) deposit. This area has identified two significant gold-arsenic anomalies spanning over four kilometers, with rock sample assays reaching as high as 43 g/t gold. With drill targeting in motion, Glamorgan is poised to become a key player in the company’s portfolio.
Gold remains the primary focus, but antimony is emerging as a strategic asset. In January 2025, New Zealand officially added antimony to its Critical Minerals List. As global supplies diminish and prices surpass US$50,000 per tonne, intercepts like 0.3 meters grading at 27.2 g/t gold and 1.35% antimony are capturing significant investor interest.
RUA Gold benefits from a team with a track record of $11 billion in mining exits and recent capital injections totaling $5.75 million. This robust backing positions RUA as it seeks to exploit high-grade mining opportunities within one of the Southern Hemisphere’s least explored gold districts.
In other industry developments and happenings in the market:
Contango Ore Inc. (NYSE-American: CTGO) has announced a $9 million cash distribution from the Peak Gold JV. This brings the total proceeds from Manh Choh gold sales in 2025 to $33 million.
“Operations remain on track at Manh Choh, with Contango’s share of gold production for 2025 anticipated at 60,000 ounces, adhering to previously stated all-in-sustaining costs of $1,625 per ounce,” said Rick Van Nieuwenhuyse, President and CEO of Contango Ore. “We aim to release our Q1-2025 financial results on May 14, 2025.”
The first of four planned production campaigns has concluded successfully, delivering 20,000 ounces to Contango’s account. A second campaign is set to commence in mid-May, keeping full-year production guidance steady at 60,000 ounces.
“Regarding our Johnson Tract, we are finalizing the previously announced preliminary economic assessment and expect to publish it by the end of April,” added Van Nieuwenhuyse.
Prime Mining Corp. (TSX: PRYM; OTCQX: PRMNF) continues to advance its Los Reyes Project in Sinaloa, Mexico. The project has returned high-grade gold-silver intercepts from several zones, including Z-T, Central, Guadalupe East, Las Primas, and Fresnillo. Notable drilling results include 42.07 g/t AuEq over 1.0 m at Guadalupe East and 9.39 g/t AuEq over 10.5 m at Z-T, while new findings from the Fresnillo target indicate near-surface mineralization extended by 120 meters.
“2024 was another pivotal year for Prime as we drilled over 50,000 meters, enhanced our Los Reyes resource, and engaged with our communities,” stated Scott Hicks, CEO of Prime. “In 2025, we look forward to continuing exploration success while reinforcing our commitment to our local communities and the environment. Additionally, we plan to progress our understanding of Los Reyes toward a Preliminary Economic Assessment.”
Troilus Gold Corp. (TSX: TLG; OTCQX: CHXMF) has signed a mandate letter with a consortium of global financial institutions, including Societe Generale, KfW IPEX-Bank, and Export Development Canada, to arrange up to US$700 million in structured project debt financing. This follows US$1.3 billion in previously announced letters of intent from export credit agencies, representing a significant step towards a fully funded construction plan.
“Securing this mandate with three globally recognized financial institutions marks a substantial advancement in our funding strategy,” stated the company.
Troilus Project Gains Momentum with New Financing Solutions
Justin Reid, CEO of Troilus, emphasized the significance of partnering with institutions that specialize in financing large-scale mining projects. “Institutions with expertise in structuring financing solutions for large-scale mining development are crucial for delivering a fully funded construction package for the Troilus project,” he stated. He added that the involvement of these institutions underscores the project’s strong fundamentals and strategic importance. Project due diligence is advancing alongside ongoing permitting and detailed engineering, keeping the development schedule on track as plans progress towards construction.
Goliath Resources Confirms Significant Gold Discovery
Goliath Resources Limited (GOT, GOTRF) recently announced the definitive confirmation of its Surebet discovery. This finding is part of a large-scale, high-grade Reduced Intrusion Related Gold (RIRG) system, following an in-depth geological study conducted by the Colorado School of Mines. The study revealed two distinct, yet related styles of mineralization associated with a single magmatic source, with the presence of visible gold increasing in both grade and size at greater depths.
Drilling Results Indicate Strong Potential
Drilling efforts have successfully intercepted gold in 100% of the 243 holes drilled across a 1.8 km² area. Notably, one of the intercepts returned an impressive 34.52 g/t AuEq over a width of 39.0 meters. The potential for further discovery is considerable, as the system remains open in every direction. This aspect positions Surebet as a promising prospect for a major gold find in British Columbia’s Golden Triangle.
Roger Rosmus, Founder and CEO of Goliath Resources, remarked on the findings, stating, “Given the extent of the high-grade gold mineralization in the veins and RIRG zones, the source could be exceptionally large. Each round of drilling and scientific study enhances our understanding of the Surebet discovery. We remain optimistic as we continue exploratory drilling to identify the source of this high-grade gold system.”
Article Source: Equity Insider
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