Rua Gold Inc. has received regulatory approval for nine drill pads at its Glamorgan project in the Hauraki Goldfield on New Zealand's North Island, enough to test three targets with a planned program of about 9,000 metres of drilling starting in the fourth quarter of 2026.
The company describes the program as fully funded, though the release gives no budget figure and no cash balance. Construction of drill pads, exploration camps and protective fencing is to begin once vegetation and invertebrate checks are completed. Drilling would be the first at the property.
Glamorgan sits next to OceanaGold's Wharekirauponga deposit, which the release cites at 1.5 million ounces of indicated mineral resources grading 17.3 grams per tonne gold. That project received final permitting in December 2025 and is under construction. The nearest Glamorgan target area lies roughly 2.8 kilometres to the north. Proximity to a high-grade deposit is a geological argument, not evidence of mineralisation on Rua Gold's ground.
The three drill targets, named Sutcliff, Wires Ridge and Tairua, were selected where soil geochemistry overlaps with resistivity anomalies from controlled-source audio-magnetotelluric (CSAMT) surveying, a ground technique that measures how strongly rock resists electrical current. High-resistivity zones are interpreted by the company as quartz systems at depth.
Surface work over the past two years included 4,137 soil samples on 250-metre cross-lines at 20-metre intervals, about 590 line-kilometres of drone-borne magnetic surveying, and more than 11 kilometres of CSAMT lines collected in two campaigns in the first quarters of 2025 and 2026. Rock-chip samples returned values above 40 grams per tonne gold and above 200 grams per tonne silver across parts of the permit, according to the release. Rock chips are surface grab samples and are not representative of any width or continuity.
Sutcliff trends northeast for at least 1.3 kilometres and remains open to the southwest. Wires Ridge trends north-northeast for at least 2.1 kilometres, with its southern end coinciding with the historic Wentworth and Auckland workings. Tairua trends northeast over at least 1.6 kilometres, with banded quartz veins wider than 50 centimetres outcropping over a width exceeding 600 metres.
Chief operating officer Simon Henderson, who is the qualified person for the technical disclosure, said the approval is a significant milestone and that the team has identified three priority targets supported by geophysical, geochemical and geological indicators.
Rua Gold also holds tenements covering more than 120,000 hectares in the Reefton Goldfield on the South Island. The company trades on the TSX, NZX, OTCQX and Frankfurt exchanges.
Source: Newsfile
This article is journalism, not investment advice. It is not an offer or solicitation to buy or sell any security. Micro-cap and penny stocks carry a high risk of loss, including illiquidity and dilution. Do your own research.