Business
Rua Gold Completes the Acquisition of Siren Gold's Reefton Assets and Becomes the Dominant Reefton Goldfield Explorer
Vancouver, British Columbia--(Newsfile Corp. - November 25, 2024) - Rua Gold Inc. (TSXV: RUA) (OT...
About this update from Rua Gold Inc
[{"type":"text","content":"Rua Gold Completes the Acquisition of Siren Gold's Reefton Assets and Becomes the Dominant Reefton Goldfield ExplorerVancouver, British Columbia--(Newsfile Corp. - November 25, 2024) - Rua Gold Inc. (TSXV: RUA) (OTCQB: NZAUF) (WKN: A4010V) (\"RUA GOLD\" or the \"Company\") is pleased to announce the completion of the acquisition (the \"Transaction\") of Reefton Resources Pty Limited (\"Reefton\"). Reefton was a 100% owned subsidiary of Siren Gold Ltd. (ASX:SNG) (\"Siren\"). The completion of the transaction expands RUA GOLD's tenement package to cover over 95% of the Reefton Goldfield.Robert Eckford, CEO of RUA GOLD, stated: \"Today marks a pivotal point in RUA GOLD's development. With the completion of this Transaction, the Reefton district is largely under control of one company. This creates the opportunity to develop a world-class, scalable mining operation in an area that had high-grade production and is considerably underexplored at depth. Since the announcement in July, our team has been integrating Siren's data from the Reefton properties and will incorporate this into the VRIFY AI drill targeting platform. Putting together all of these advanced exploration projects through the Transaction creates an exciting district scale opportunity.Advancing the Auld Creek gold project and weighing up other compelling targets for immediate drilling along with our current drilling successes provides a broad platform for the future.\"With the Transaction complete, a third rig is mobilized to recommence drilling on the Auld Creek target, it is a compelling near surface resource opportunity. The two drill rigs currently operating will continue on the targets at Murray Creek, including the recently announced visible gold intercept of +1oz gold intersection (refer to news release dated November 4, 2024) and shallow Capleston targets. Further targets are being analyzed in an iterative process using VRIFY AI targeting methodology and RUA GOLD's comprehensive combined exploration and mining data sets.Figure 1: Overview of the Reefton Goldfield.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/10755/231266_5b87507614f048b7_006full.jpgActively Advancing a District-Scale Discovery in a Tier 1 Jurisdiction:Represents the next chapter in RUA GOLD's development towards our goal to be a major gold produc...