Reefton
The Reefton Project
The Reefton Project is a significant gold exploration and mining venture in the South Island of New Zealand, previously managed by Siren Gold Limited . In 2024, the project reached a pivotal moment with the sale of Reefton Resources Pty Ltd, Siren's wholly owned subsidiary that held the Reefton Project, to Canadian-listed Rua Gold Inc. (TSXV: RUA). The transaction marked a major milestone, consolidating the Reefton Goldfield and enhancing the prospects for high-grade gold exploration in the region.
Key Highlights of the Reefton Sale
- Transaction Value: The sale was finalized for A$22 million, including cash payments of A$4 million and a shareholding in Rua Gold Inc (TSXV:RUA).
- Goldfield Consolidation: The transaction combined a 1,196km² tenement package, encompassing the majority of the historical Reefton Goldfields, known for producing over 2 million ounces of gold at an average grade of 15.8 g/t Au.
Strategic Benefits:
- Creation of a dominant gold explorer in the Reefton Goldfields.
- Enhanced exploration synergies and the potential for a centralized processing hub.
- Retained exposure for Siren shareholders through its Rua shareholding.
Project Highlights
The Reefton Project Mineral Resource Estimate (MRE) stands at 588koz @ 4.7g/t AuEq
- Alexander River: MRE 170koz @ 5.0g/t Au
- Big River: MRE 105koz @ 3.9g/t Au
- Cumberland: MRE 103koz @ 2.7g/t Au
- Auld Creek: MRE 104koz @ 3.8g/t Au
- Lyell: Sampling conducted in December 2023 returned grades of 3oz (93g/t) Au from near-insitu rocks collected during the soil sampling program
- Murray Creek: Historical production of 39.7koz Au produced @ 19.57g/t Au
- Capleston: 16.4g/t gold over 7m in surface channel sampling
- Crushington: Historical production of 406koz Au produced 15.44g/t Au
- Ajax: Historical production of 96.7koz produced @ 20.36g/t Au
For further information visit, https://ruagold.com/
