Latest news with #RobMcEwen
Business Upturn
3 days ago
- Business
- Business Upturn
Starting a New Chapter of Growth
TORONTO, June 05, 2025 (GLOBE NEWSWIRE) — McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is pleased to announce a significant development at our Fox Complex's Stock Mine that will usher in a new chapter of growth. Construction of the ramp system is now underway to provide access to future lower-cost-per-ounce gold production. Rob McEwen, CEO and Chief Owner of McEwen Mining states: 'As a long-term gold bull, I am always excited to break ground on a new gold mine, especially today, with gold trading at record highs and strong fundamentals for further upside. As we transition production from the Froome Mine to the Stock Mine, the timing is ideal for bringing Stock Mine into production. Moreover, it is important to understand that the Stock Mine will help us increase our near-term gold production and decrease our cost per ounce for three reasons: One, it will eliminate the onerous metal stream from prior owners on the Froome mine, which obligated us to sell 8% of our production at $605 per ounce; Two, the Stock material is softer than that currently processed from Froome, which will enable greater mill throughput and gold output; and Three, with the mill on site, we eliminate the cost of hauling material 35 kilometers from Froome, as you can see further below in Image 1.' Part of our Fox Complex, the Stock Mine will be the newest gold mine to come online in the prolific Timmins gold mining district, at a time when gold is trading at record highs against fiat currencies. The mine is located along the Destor-Porcupine fault, known as the 'Golden Highway', which hosts many of the richest gold mines in Ontario and Quebec, Canada. This prime location benefits from a robust mining workforce and a regional economy for which mining is an important driver. McEwen Mining thanks our team and the local communities, First Nations and the provincial government, all of whom helped to make this milestone a reality. Stock Mine Overview Construction has begun on the Stock Mine portal, pictured below, that will provide both underground access to Stock's three gold zones, West, Main and East, and a cost-effective platform for underground drilling to test the depth extensions of these zones. The Stock Property hosts the Stock Mill and the former Stock Mine. It was a small mine that produced 137,000 ounces of gold at a 5.5 g/t average grade from an underground operation between 1989 and 2005. Extensive drilling has successfully defined three gold deposits at Stock – the West, Main and East zones that are laying the groundwork to confidently begin mining in the second half of 2025. Gold mineralization at the Stock Mine has been delineated on a three-kilometer-long mineralized trend along the prolific Destor-Porcupine Fault, with current gold resources of 281,000 ounces at average grade 3.12 g/t Indicated and 181,000 ounces at average grade 2.87 g/t Inferred. Figure 1 is a project-wide longitudinal section at Stock, illustrating the proposed ramp development (shown as green straight lines) and mining horizons (shapes in purple) associated with the West, Main and East Zones. Figure 1. Longitudinal Section at Stock Mine, Showing the West, Main and East Zones with Highlights of Published Drill Results, Together with the Planned Development Works and Mining Blocks Stock Ramp to Access Gold Production in 2025 The Stock Ramp will connect the West Zone and the East Zone to the existing historical underground workings of the Main Zone. Stock is expected to provide increased gold production at a lower cost per ounce than our current output from the Froome Mine. The advantages of mining at Stock compared to Froome are significant and can be summarized in three key points: Minimal royalty: The bulk of the Stock deposit is royalty-free, whereas Froome is fully subject to an onerous metal stream that obligates us to sell 8% of our production in this area at $605 per ounce – great to see this come to an end; Higher mill throughput: The material at Stock has a lower (softer) work index compared to the material currently processed from the Froome Mine. This is expected to result in increased throughput and gold production; and Lower haulage costs: The Froome Mine is deeper and located 35 kilometers from the Stock Mill, while the gold mineralization at Stock is at shallower depths and located right next to the mill, significantly reducing transportation costs. Mining will start in the East Zone, which had a recent increase in the resource (see press release dated June 20, 2024), and will provide early production and cash flow. Our development plan for the Stock Ramp is to drive the ramp to the East Zone concurrently with the ramps to the Main and West zones. This approach will enable simultaneous access to multiple sources of mineralization from the Stock Ramp. Image 1. The New Stock Mine Portal, with the Nearby Mill in the Background Image 2. Looking Out of the Stock Portal Toward the Jumbo Drill Technical Information The technical content of this news release related to mining and development has been reviewed and approved by William (Bill) Shaver, COO of McEwen Mining and a Qualified Person as defined by SEC S-K 1300 and the Canadian Securities Administrators National Instrument 43-101 'Standards of Disclosure for Mineral Projects.' CONCERNING FORWARD-LOOKING STATEMENTS This news release contains certain forward-looking statements and information, including 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements and information expressed, as at the date of this news release, McEwen Mining Inc.'s (the 'Company') estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, risks and contingencies, and there can be no assurance that such statements and information will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements and information. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements and information include, but are not limited to, fluctuations in the market price of precious metals, mining industry risks, political, economic, social and security risks associated with foreign operations, the ability of the Company to receive or receive in a timely manner permits or other approvals required in connection with operations, risks associated with the construction of mining operations and commencement of production and the projected costs thereof, risks related to litigation, the state of the capital markets, environmental risks and hazards, uncertainty as to calculation of mineral resources and reserves, foreign exchange volatility, foreign exchange controls, foreign currency risk, and other risks. Readers should not place undue reliance on forward-looking statements or information included herein, which speak only as of the date hereof. The Company undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. See McEwen Mining's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and other filings with the Securities and Exchange Commission, under the caption 'Risk Factors', for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information regarding the Company. All forward-looking statements and information made in this news release are qualified by this cautionary statement. The NYSE and TSX have not reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by the management of McEwen Mining Inc. ABOUT MCEWEN MINING McEwen Mining Inc. provides its shareholders with exposure to gold, copper and silver in the Americas by way of its three mines located in the United States of America, Canada and Argentina and its large advanced-stage copper development project in Argentina. It also has a gold and silver mine on care and maintenance in Mexico. Its Los Azules copper project aims to be one of the world's first regenerative copper mines and is committed to achieving carbon neutrality by 2038. Rob McEwen, Chairman and Chief Owner, has a personal investment in the companies of US$205 million and takes a salary of $1/year. He is a recipient of the Order of Canada and a member of the Canadian Mining Hall of Fame. His objective for MUX is to build its share value and establish a dividend, as he did while building Goldcorp Inc. McEwen Mining's shares are publicly traded on the New York Stock Exchange (NYSE) and the Toronto Stock Exchange (TSX) under the symbol 'MUX'. Want News Fast? Subscribe to our email list by clicking here: and receive news as it happens! Photos accompanying this announcement are available at: Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
Yahoo
3 days ago
- Business
- Yahoo
Starting a New Chapter of Growth
TORONTO, June 05, 2025 (GLOBE NEWSWIRE) -- McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is pleased to announce a significant development at our Fox Complex's Stock Mine that will usher in a new chapter of growth. Construction of the ramp system is now underway to provide access to future lower-cost-per-ounce gold production. Rob McEwen, CEO and Chief Owner of McEwen Mining states:Part of our Fox Complex, the Stock Mine will be the newest gold mine to come online in the prolific Timmins gold mining district, at a time when gold is trading at record highs against fiat currencies. The mine is located along the Destor-Porcupine fault, known as the 'Golden Highway', which hosts many of the richest gold mines in Ontario and Quebec, Canada. This prime location benefits from a robust mining workforce and a regional economy for which mining is an important driver. McEwen Mining thanks our team and the local communities, First Nations and the provincial government, all of whom helped to make this milestone a reality. Stock Mine Overview Construction has begun on the Stock Mine portal, pictured below, that will provide both underground access to Stock's three gold zones, West, Main and East, and a cost-effective platform for underground drilling to test the depth extensions of these zones. The Stock Property hosts the Stock Mill and the former Stock Mine. It was a small mine that produced 137,000 ounces of gold at a 5.5 g/t average grade from an underground operation between 1989 and 2005. Extensive drilling has successfully defined three gold deposits at Stock - the West, Main and East zones that are laying the groundwork to confidently begin mining in the second half of 2025. Gold mineralization at the Stock Mine has been delineated on a three-kilometer-long mineralized trend along the prolific Destor-Porcupine Fault, with current gold resources of 281,000 ounces at average grade 3.12 g/t Indicated and 181,000 ounces at average grade 2.87 g/t Inferred. Figure 1 is a project-wide longitudinal section at Stock, illustrating the proposed ramp development (shown as green straight lines) and mining horizons (shapes in purple) associated with the West, Main and East Zones. Figure 1. Longitudinal Section at Stock Mine, Showing the West, Main and East Zones with Highlights of Published Drill Results, Together with the Planned Development Works and Mining BlocksStock Ramp to Access Gold Production in 2025 The Stock Ramp will connect the West Zone and the East Zone to the existing historical underground workings of the Main Zone. Stock is expected to provide increased gold production at a lower cost per ounce than our current output from the Froome Mine. The advantages of mining at Stock compared to Froome are significant and can be summarized in three key points: Minimal royalty: The bulk of the Stock deposit is royalty-free, whereas Froome is fully subject to an onerous metal stream that obligates us to sell 8% of our production in this area at $605 per ounce - great to see this come to an end; Higher mill throughput: The material at Stock has a lower (softer) work index compared to the material currently processed from the Froome Mine. This is expected to result in increased throughput and gold production; and Lower haulage costs: The Froome Mine is deeper and located 35 kilometers from the Stock Mill, while the gold mineralization at Stock is at shallower depths and located right next to the mill, significantly reducing transportation costs. Mining will start in the East Zone, which had a recent increase in the resource (see press release dated June 20, 2024), and will provide early production and cash flow. Our development plan for the Stock Ramp is to drive the ramp to the East Zone concurrently with the ramps to the Main and West zones. This approach will enable simultaneous access to multiple sources of mineralization from the Stock Ramp. Image 1. The New Stock Mine Portal, with the Nearby Mill in the Background Image 2. Looking Out of the Stock Portal Toward the Jumbo DrillTechnical Information The technical content of this news release related to mining and development has been reviewed and approved by William (Bill) Shaver, COO of McEwen Mining and a Qualified Person as defined by SEC S-K 1300 and the Canadian Securities Administrators National Instrument 43-101 "Standards of Disclosure for Mineral Projects." CONCERNING FORWARD-LOOKING STATEMENTS This news release contains certain forward-looking statements and information, including "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements and information expressed, as at the date of this news release, McEwen Mining Inc.'s (the "Company") estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, risks and contingencies, and there can be no assurance that such statements and information will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements and information. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements and information include, but are not limited to, fluctuations in the market price of precious metals, mining industry risks, political, economic, social and security risks associated with foreign operations, the ability of the Company to receive or receive in a timely manner permits or other approvals required in connection with operations, risks associated with the construction of mining operations and commencement of production and the projected costs thereof, risks related to litigation, the state of the capital markets, environmental risks and hazards, uncertainty as to calculation of mineral resources and reserves, foreign exchange volatility, foreign exchange controls, foreign currency risk, and other risks. Readers should not place undue reliance on forward-looking statements or information included herein, which speak only as of the date hereof. The Company undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. See McEwen Mining's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and other filings with the Securities and Exchange Commission, under the caption "Risk Factors", for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information regarding the Company. All forward-looking statements and information made in this news release are qualified by this cautionary statement. The NYSE and TSX have not reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by the management of McEwen Mining Inc. ABOUT MCEWEN MINING McEwen Mining Inc. provides its shareholders with exposure to gold, copper and silver in the Americas by way of its three mines located in the United States of America, Canada and Argentina and its large advanced-stage copper development project in Argentina. It also has a gold and silver mine on care and maintenance in Mexico. Its Los Azules copper project aims to be one of the world's first regenerative copper mines and is committed to achieving carbon neutrality by 2038. Rob McEwen, Chairman and Chief Owner, has a personal investment in the companies of US$205 million and takes a salary of $1/year. He is a recipient of the Order of Canada and a member of the Canadian Mining Hall of Fame. His objective for MUX is to build its share value and establish a dividend, as he did while building Goldcorp Inc. McEwen Mining's shares are publicly traded on the New York Stock Exchange (NYSE) and the Toronto Stock Exchange (TSX) under the symbol "MUX". Want News Fast? Subscribe to our email list by clicking here: and receive news as it happens! McEwen Mining Facebook: LinkedIn: Twitter: 150 King Street West Instagram: Suite 2800, PO Box 24 Toronto, ON, Canada McEwen Copper Facebook: mcewencopper M5H 1J9 LinkedIn: Twitter: Instagram: (866)-441-0690 - Toll free line (647)-258-0395 Rob McEwen Facebook: Mihaela Iancu ext. 320 LinkedIn: info@ Twitter: Photos accompanying this announcement are available at: in to access your portfolio
Yahoo
3 days ago
- Business
- Yahoo
Starting a New Chapter of Growth
TORONTO, June 05, 2025 (GLOBE NEWSWIRE) -- McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is pleased to announce a significant development at our Fox Complex's Stock Mine that will usher in a new chapter of growth. Construction of the ramp system is now underway to provide access to future lower-cost-per-ounce gold production. Rob McEwen, CEO and Chief Owner of McEwen Mining states:Part of our Fox Complex, the Stock Mine will be the newest gold mine to come online in the prolific Timmins gold mining district, at a time when gold is trading at record highs against fiat currencies. The mine is located along the Destor-Porcupine fault, known as the 'Golden Highway', which hosts many of the richest gold mines in Ontario and Quebec, Canada. This prime location benefits from a robust mining workforce and a regional economy for which mining is an important driver. McEwen Mining thanks our team and the local communities, First Nations and the provincial government, all of whom helped to make this milestone a reality. Stock Mine Overview Construction has begun on the Stock Mine portal, pictured below, that will provide both underground access to Stock's three gold zones, West, Main and East, and a cost-effective platform for underground drilling to test the depth extensions of these zones. The Stock Property hosts the Stock Mill and the former Stock Mine. It was a small mine that produced 137,000 ounces of gold at a 5.5 g/t average grade from an underground operation between 1989 and 2005. Extensive drilling has successfully defined three gold deposits at Stock - the West, Main and East zones that are laying the groundwork to confidently begin mining in the second half of 2025. Gold mineralization at the Stock Mine has been delineated on a three-kilometer-long mineralized trend along the prolific Destor-Porcupine Fault, with current gold resources of 281,000 ounces at average grade 3.12 g/t Indicated and 181,000 ounces at average grade 2.87 g/t Inferred. Figure 1 is a project-wide longitudinal section at Stock, illustrating the proposed ramp development (shown as green straight lines) and mining horizons (shapes in purple) associated with the West, Main and East Zones. Figure 1. Longitudinal Section at Stock Mine, Showing the West, Main and East Zones with Highlights of Published Drill Results, Together with the Planned Development Works and Mining BlocksStock Ramp to Access Gold Production in 2025 The Stock Ramp will connect the West Zone and the East Zone to the existing historical underground workings of the Main Zone. Stock is expected to provide increased gold production at a lower cost per ounce than our current output from the Froome Mine. The advantages of mining at Stock compared to Froome are significant and can be summarized in three key points: Minimal royalty: The bulk of the Stock deposit is royalty-free, whereas Froome is fully subject to an onerous metal stream that obligates us to sell 8% of our production in this area at $605 per ounce - great to see this come to an end; Higher mill throughput: The material at Stock has a lower (softer) work index compared to the material currently processed from the Froome Mine. This is expected to result in increased throughput and gold production; and Lower haulage costs: The Froome Mine is deeper and located 35 kilometers from the Stock Mill, while the gold mineralization at Stock is at shallower depths and located right next to the mill, significantly reducing transportation costs. Mining will start in the East Zone, which had a recent increase in the resource (see press release dated June 20, 2024), and will provide early production and cash flow. Our development plan for the Stock Ramp is to drive the ramp to the East Zone concurrently with the ramps to the Main and West zones. This approach will enable simultaneous access to multiple sources of mineralization from the Stock Ramp. Image 1. The New Stock Mine Portal, with the Nearby Mill in the Background Image 2. Looking Out of the Stock Portal Toward the Jumbo DrillTechnical Information The technical content of this news release related to mining and development has been reviewed and approved by William (Bill) Shaver, COO of McEwen Mining and a Qualified Person as defined by SEC S-K 1300 and the Canadian Securities Administrators National Instrument 43-101 "Standards of Disclosure for Mineral Projects." CONCERNING FORWARD-LOOKING STATEMENTS This news release contains certain forward-looking statements and information, including "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements and information expressed, as at the date of this news release, McEwen Mining Inc.'s (the "Company") estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, risks and contingencies, and there can be no assurance that such statements and information will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements and information. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements and information include, but are not limited to, fluctuations in the market price of precious metals, mining industry risks, political, economic, social and security risks associated with foreign operations, the ability of the Company to receive or receive in a timely manner permits or other approvals required in connection with operations, risks associated with the construction of mining operations and commencement of production and the projected costs thereof, risks related to litigation, the state of the capital markets, environmental risks and hazards, uncertainty as to calculation of mineral resources and reserves, foreign exchange volatility, foreign exchange controls, foreign currency risk, and other risks. Readers should not place undue reliance on forward-looking statements or information included herein, which speak only as of the date hereof. The Company undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. See McEwen Mining's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and other filings with the Securities and Exchange Commission, under the caption "Risk Factors", for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information regarding the Company. All forward-looking statements and information made in this news release are qualified by this cautionary statement. The NYSE and TSX have not reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by the management of McEwen Mining Inc. ABOUT MCEWEN MINING McEwen Mining Inc. provides its shareholders with exposure to gold, copper and silver in the Americas by way of its three mines located in the United States of America, Canada and Argentina and its large advanced-stage copper development project in Argentina. It also has a gold and silver mine on care and maintenance in Mexico. Its Los Azules copper project aims to be one of the world's first regenerative copper mines and is committed to achieving carbon neutrality by 2038. Rob McEwen, Chairman and Chief Owner, has a personal investment in the companies of US$205 million and takes a salary of $1/year. He is a recipient of the Order of Canada and a member of the Canadian Mining Hall of Fame. His objective for MUX is to build its share value and establish a dividend, as he did while building Goldcorp Inc. McEwen Mining's shares are publicly traded on the New York Stock Exchange (NYSE) and the Toronto Stock Exchange (TSX) under the symbol "MUX". Want News Fast? Subscribe to our email list by clicking here: and receive news as it happens! McEwen Mining Facebook: LinkedIn: Twitter: 150 King Street West Instagram: Suite 2800, PO Box 24 Toronto, ON, Canada McEwen Copper Facebook: mcewencopper M5H 1J9 LinkedIn: Twitter: Instagram: (866)-441-0690 - Toll free line (647)-258-0395 Rob McEwen Facebook: Mihaela Iancu ext. 320 LinkedIn: info@ Twitter: Photos accompanying this announcement are available at: in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
27-05-2025
- Business
- Cision Canada
As Gold Pushes Higher, Junior Miners Begin to Show Signs of Life
Issued on behalf of RUA GOLD Inc. VANCOUVER, BC, May 27, 2025 /CNW/ -- Equity Insider News Commentary – Gold's relentless climb—briefly topping $3,350 last week —has rekindled investor appetite across the mining sector, particularly among small-cap names long starved of attention. Safe-haven demand, rate cut expectations, and fresh volatility tied to US President Donald Trump's tariff warnings have sent bullion prices soaring, prompting Citi to raise its short-term gold target to $3,500. Bank of America followed by increasing its gold exposure in Q4, citing a bullish shift in underlying market conditions. As gold prices remain favourable, analysts are watching for breakout moments across the junior mining space, with RUA GOLD Inc. (TSXV: RUA) (OTCQB: NZAUF), Luca Mining Corp. (TSXV: LUCA) (OTCQX: LUCMF), Probe Gold Inc. (TSX: PRB) (OTCQB: PROBF), Dakota Gold Corp. (NYSE-American: DC), and Montage Gold Corp. (TSX: MAU) (OTCQX: MAUTF). Despite a 40% gain in the gold price since 2019, junior valuations remain deeply discounted—still hovering near pre-COVID levels. Analysts at Jefferies and InsideExploration note this disconnect, suggesting a re-rating could be overdue if current price strength persists. Veteran investor Rob McEwen and billionaire John Paulson both see $5,000 gold within reach, while JPMorgan recently projected a potential path to $6,000 if even a sliver of U.S.-held foreign assets are reallocated toward bullion. For investors scanning the horizon, catalysts are beginning to emerge. RUA GOLD Inc. (TSXV: RUA) (OTCQB: NZAUF) is a gold exploration company advancing district-scale opportunities in New Zealand—a country with a long legacy of high-grade gold production and renewed interest from global investors. Today, RUA reported high-grade intercepts from its Cumberland project, including 1 metre at 26.9 g/t gold and 1 metre at 16.2 g/t. These results confirm the continuity and near-surface nature of the Gallant vein system that previously returned 62.2 g/t gold —including a standout 1-metre interval grading 1,911 g/t—which stands as RUA's first drill-tested target generated through VRIFY's AI-assisted discovery platform. "From the very first drill holes, we intersected significant, wide quartz veins hosting high-grade gold, confirming historical intercepts," said Robert Eckford, CEO of RUA GOLD. "This marks an exciting start, validating the effectiveness of the VRIFY AI targeting process and confirming near-surface mineralization with the potential to extend the envelope of known mineralization across a 2km structural zone.. It's a major step forward for our hub-and-spoke strategy in Reefton… The Gallant prospect represents the first VRIFY AI target that we have drilled so far. This structure is traceable on surface for over 600m and remains largely untested along strike and at depth." Located just 3 km from the past-producing Globe Progress mine, Gallant hosts steeply dipping quartz veins up to 14 metres wide and remains open along strike and at depth. Historic drilling in the area returned standout intercepts like 20.7 metres of quartz, with intervals grading up to 1,911 g/t gold at depths less than 80 metres —suggesting the potential for a shallow, high-grade resource in a district with strong infrastructure. A follow-up program is now underway, stepping 100 metres south, with additional assays pending. RUA controls roughly 95% of the Reefton Goldfield, which has historically yielded over 2 million ounces at grades ranging from 9 to 50 g/t. At its Auld Creek project, recent drilling returned 9.0 metres at 5.9 g/t gold equivalent and 1.25 metres at 48.3 g/t. Importantly, only two of four known shoots are currently included in the model. Earlier hits include 12 metres at 12.2 g/t gold equivalent, including a 2-metre stretch grading 54.8 g/t. Infographic - Adding further strategic value, Auld Creek contains high-grade antimony—a critical mineral now trading above US$50,000 per tonne. Surface samples have exceeded 40% antimony, with multiple drill intercepts over 8%. In early 2025, the New Zealand government designated antimony as a national priority, heightening the potential relevance of RUA's dual metal profile. In the Hauraki Goldfield on the North Island, RUA recently completed its second surface campaign at the Glamorgan project, identifying three gold-arsenic anomalies across a 4-kilometre trend. Rock chip samples returned grades up to 43 g/t gold, while CSAMT geophysics confirmed resistive zones consistent with quartz-rich vein systems. A drill access agreement is expected shortly, and all targets are being ranked using VRIFY's DORA AI engine. RUA GOLD is led by a team with over $11 billion in collective mining exits, and backed by $5.75 million in fresh capital. Their strategy targets undervalued, high-grade potential in proven jurisdictions—using modern data to accelerate discovery across two of New Zealand's most historically productive, but underexplored, gold belts. With multiple drill programs active and catalysts expected in 2025, RUA offers significant leverage to continued exploration success. In other industry developments and happenings in the market include: Luca Mining Corp. (TSXV: LUCA) (OTCQX: LUCMF) has discovered multiple new high-grade ore shoots at its Tahuehueto gold-silver mine in Durango, Mexico. Highlights include 9.4 metres grading 5.21 g/t gold equivalent and 5.1 metres at 5.62 g/t AuEq, with one interval peaking at 9.37 g/t AuEq. "The discovery of multiple new high-grade ore shoots so quickly into this new exploration program confirms the robust nature of the Tahuehueto epithermal vein system," said Paul D. Gray, VP Exploration of Luca Mining. "The fact that the current drilling program has consistently intersected well-mineralized veins in previously untested areas also confirms the Company's exploration approach and moreover speaks to the larger potential of the Tahuehueto mineralized system." These discoveries sit near current mine workings and point to immediate upside for near- and mid-term production plans. Probe Gold Inc. (TSX: PRB) (OTCQB: PROBF) has awarded its Environmental Impact Assessment contract to WSP, a global leader in permitting, as it advances the Novador Project in Québec toward production. "This milestone marks another key step forward in the permitting process and continued de-risking of the Novador Project," said David Palmer, President and CEO of Probe Gold. "Partnering with WSP, a recognized leader in Environmental Impact Statements, gives us confidence in the quality and scope of the work, which will help us to meet our permitting timeline of 2027." The EIA/EIS will address environmental, hydrological, and biodiversity factors, forming the foundation of both federal and provincial approvals. Submission is expected by early 2027, aligning with the company's timeline to advance Novador toward construction readiness. With over 10 million ounces of total gold resources across the Val-d'Or properties, Probe is positioned as a leading district-scale developer in one of Canada's most prolific mining camps. Dakota Gold Corp. (NYSE-American: DC) is advancing its Richmond Hill Project in South Dakota with an 80,000-foot drill campaign focused on metallurgical sampling and resource expansion ahead of an Initial Assessment with Cash Flow (IACF) expected mid-2025. " Dakota Gold continues to advance its Richmond Hill and Maitland projects," said Dr. Robert Quartermain, Co-Chair, Director, President and CEO of Dakota Gold. "With our March financing, we are well funded for our planned activities in 2025 and well into 2026." A feasibility study is scheduled for 2027, with $47 million in cash earmarked to fully fund both stages. At Maitland, the company is also preparing a maiden resource estimate after intercepting grades as high as 10.76 g/t gold over 4.0 meters. Montage Gold Corp. (TSX: MAU) (OTCQX: MAUTF) is deepening its presence along West Africa's Boundiali belt through a strategic equity investment in Aurum Resources, which owns the Boundiali and Napié gold projects. "We are pleased to enter into a strategic partnership with Aurum, further strengthening our presence along the Boundiali greenstone belt in Côte d'Ivoire," said Martino De Ciccio, CEO of Montage. "As construction at Koné continues to rapidly advance on budget with first gold pour well on track for Q2-2027, we remain focused on executing our strategy of creating a leading African gold producer." Located immediately north of Montage's Koné project, Boundiali is already host to 1.59Moz at 1.0 g/t gold, with aggressive drilling and a PFS underway. Montage's own Koné project remains on track for first gold pour in Q2 2027 and is expected to average over 300,000 ounces per year in its first eight years. The new collaboration provides exploration synergies and shared upside across one of West Africa's most prospective gold corridors. CONTACT: Equity Insider [email protected] (604) 265-2873 DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Equity Insider is a wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). This article is being distributed for media corp, who has been paid a fee for an advertising contract with RUA Gold Inc. (forty five thousand dollars Canadian for a three month contract subject to the terms and conditions of the agreement from the company direct). MIQ has not been paid a fee for RUA Gold Inc. advertising or digital media, but the owner/operators of MIQ also co-owns Media Corp. ("BAY") There may also be 3rd parties who may have shares of RUA Gold Inc. and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ/BAY does not own any shares of RUA Gold Inc. but reserve the right to buy and sell, and will buy and sell shares of RUA Gold Inc. at any time without any further notice commencing immediately and ongoing. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, which is disseminated by MIQ on behalf of BAY has been approved by RUA Gold Inc. Technical information relating to RUA GOLD Inc. has been reviewed and approved by Simon Henderson, CP, AUSIMM, a Qualified Person as defined by National Instrument 43-101. Mr. Henderson is Chief Operational Officer of RUA GOLD Inc., and therefore is not independent of the Company; this is a paid advertisement, we currently do not own any shares of RUA Gold Inc. but will likely buy and sell shares of the company in the open market, or through private placements, and/or other investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
Associated Press
20-05-2025
- Business
- Associated Press
Moody's Downgrade Triggers Yet Another Gold Rally--Are Miners the Next to Pop?
Equity Insider News Commentary Issued on behalf of RUA GOLD Inc. VANCOUVER, May 20, 2025 /PRNewswire/ -- Equity Insider News Commentary – After a Moody's downgrade of the US government's credit rating, the price of gold once again rebounded, further solidifying why 2025 is shaping up to be a monumental year for the precious metal. Already the major gold miners have reported their greatest financial quarter in history, despite many analysts touting how deeply undervalued gold stocks continue to be. The majors aren't alone in making progress on their best gold projects, as juniors and mid-tiers alike have also been making headlines with their developments, including from RUA GOLD Inc. (TSXV: RUA) (OTCQB: NZAUF), i-80 Gold Corp. (NYSE-American: IAUX) (TSX: IAU), Freeman Gold Corp. (TSXV: FMAN) (OTCQB: FMANF), Integra Resources Corp. (TSXV: ITR) (NYSE-American: ITRG), and Perpetua Resources Corp. (NASDAQ: PPTA). Moving forward, Goldman Sachs continues to forecast gold prices to rise to new record highs. Gold fever has even caused Costco to put strict limits on gold bar purchases, all while bullion banks are being alleged to attempt to 'smash' gold prices to cover shorts, according to analyst Ed Steer. Both industry heavyweight Rob McEwen and billionaire investor John Paulson are expecting gold to nearly hit $5,000 within the next few years, which could set the stage for a major rally in gold mining equities. RUA GOLD Inc. (TSXV: RUA) (OTCQB: NZAUF) is a gold exploration company with a rare dual-island footprint in New Zealand—one of the Southern Hemisphere's most historically prolific mining regions. With the largest land position in the Reefton Goldfield on the South Island, RUA is also advancing early-stage exploration in the North Island's Hauraki district, near one of the country's most closely tracked development projects. The company recently completed its second round of surface work at the Glamorgan project, outlining multiple high-priority targets. Key findings include three distinct zones marked by overlapping gold-arsenic soil anomalies, rock chip samples grading up to 43 g/t gold, and deep resistive features often linked to quartz-rich vein systems. These geological markers are consistent with other known epithermal systems in the area—including the nearby WKP project (owned by OceanaGold), located less than 3 km away. Glamorgan sits within a goldfield known for heavyweight discoveries. The Waihi Mine, still active today, has produced over 10 million ounces to date. Just up the road, the WKP project hosts an indicated resource of 1.4 million ounces grading 17.9 g/t gold—and remains open in multiple directions. To sharpen its target precision, RUA's technical team deployed a multi-layered approach that combines drone magnetics, clay alteration mapping, and CSAMT geophysics. Of four gold-arsenic anomalies identified—each stretching more than four kilometres—three have been prioritized for initial drilling. An access agreement is expected to be submitted before the end of May. Meanwhile, the full exploration dataset is being analyzed through VRIFY's DORA platform, an AI-assisted discovery tool RUA is using to help rank and refine next-stage targets. Glamorgan is just one part of a much larger push to revive New Zealand's gold legacy with modern tools and technology. On the South Island, RUA controls approximately 95% of the historic Reefton Goldfield—an area that has yielded more than 2 million ounces of gold from exceptionally high grades ranging between 9 and 50 g/t. This dominant land position gives RUA a strategic edge in a district known for its underexplored upside. Drilling continues at the company's Auld Creek project, where high-grade gold-antimony mineralization is being intercepted below the existing resource envelope. Recent results include 9.0 metres at 5.9 g/t gold equivalent and 1.25 metres at 48.3 g/t gold equivalent. Importantly, only two of the four known mineralized shoots are currently captured in the resource model, leaving significant room for potential expansion. The combination of traditional mapping with modern predictive modeling has already produced standout hits, including 12 metres at 12.2 g/t gold equivalent, featuring a 2-metre interval grading 54.8 g/t. RUA is also progressing work at the nearby Gallant prospect, located just 3 kilometres from the past-producing Globe Progress mine. That operation delivered over 610,000 ounces between 2007 and 2016, with historical records showing another 424,000 ounces produced before 1950—underscoring the broader potential of the district. The Gallant prospect was originally highlighted through AI-assisted analysis of more than 170,000 historical data points, processed using VRIFY's advanced discovery platform. Follow-up work is now assessing the potential extension of a 20.7-metre vein that previously returned 62.2 g/t gold —including a standout 1-metre interval grading 1,911 g/t. Just a few kilometres away at Murray Creek, visible gold has been observed in the majority of drillholes, with VRIFY's algorithm continuing to prioritize zones that show the strongest geological indicators. While gold remains the core focus, it's not the only opportunity in play. In early 2025, the New Zealand government officially classified antimony as a Critical Mineral, acknowledging its growing importance in global supply chains. At Auld Creek, surface samples have returned antimony grades exceeding 40%, with multiple drill intercepts above 8%—placing RUA in rare company among Western-listed explorers with potential scale in this increasingly strategic metal with prices now trending above US$50,000 per tonne. UA GOLD is led by a team with more than $11 billion in collective mining exits, and is now backed by $5.75 million in fresh capital. Their mission: to apply modern tools and data-driven targeting across two of the most overlooked—but historically rich—gold belts in the Southern Hemisphere. CONTINUED… Read this and more news for RUA GOLD at: In other industry developments and happenings in the market include: i-80 Gold Corp. (NYSE-American: IAUX) (TSX: IAU) recently closed a US$173 million bought deal public offering, which closed within two weeks after reporting Q1 results that included a 67% year-over-year revenue increase. The company is advancing its Nevada-based development plan, with gold output at Granite Creek expected to reach steady-state by late 2025 and economic studies now filed for all five gold projects. 'These improvements should allow us to ramp-up to steady state of gold output in the second half of 2025,' said Richard Young, President and CEO of i-80 Gold. 'We've mapped out a credible and staged development plan supported by preliminary economic assessments for all five gold assets.' Freeman Gold Corp. (TSXV: FMAN) (OTCQB: FMANF) is advancing its 100%-owned Lemhi Gold Project in Idaho, where a 2023 PEA outlined a high-grade, low-cost open-pit operation averaging 80,100 ounces of gold annually over the first eight years. The updated economic model shows a US$329 million after-tax NPV (5%) and 28.2% IRR at US$2,200 gold, with life-of-mine cash costs of just US$925/oz. 'The Lemhi PEA outlines a simple, low-cost operation with strong economics, and positions us to advance toward development,' said Dean Besserer, VP Exploration of Freeman Gold. 'With a high-grade oxide resource and straightforward metallurgy, we believe Lemhi represents one of the most attractive undeveloped gold assets in the western U.S.' With over 525 drill holes and nearly 93,000 metres of drilling completed to date, Freeman is progressing toward a production decision in one of the U.S.'s most mining-friendly jurisdictions. Integra Resources Corp. (TSXV: ITR) (NYSE-American: ITRG) just posted its first full quarter of gold production, reporting over 19,500 ounces sold from the Florida Canyon Mine at an average realized price of $2,888 per ounce. The company generated $16.1 million in operating cash flow and ended Q1 with $61.1 million in cash, marking its strongest financial position to date. 'Solid performance from Florida Canyon this quarter resulted in an increased cash balance to $61.1 million at the end of the quarter, marking the Company's strongest financial position ever,' said George Salamis, President, CEO and Director of Integra Resources. 'The mine continues to demonstrate its ability to generate cash flow to support Integra's growth strategy.' With optimization programs underway, a major heap leach pad expansion scheduled, and permitting progress across DeLamar and Nevada North, Integra is advancing its strategy as a multi-asset gold producer in the Great Basin. Perpetua Resources Corp. (NASDAQ: PPTA) entered 2025 with a major milestone: the Final Record of Decision (ROD) issued by the U.S. Forest Service for its Stibnite Gold Project in Idaho. 'Perpetua Resources began 2025 with the biggest milestone in the company's history – a favorable Final Record of Decision for the Stibnite Gold Project,' said Jon Cherry, President and CEO of Perpetua Resources. 'In April 2025, our project was selected as a Transparency Project by the White House, which I believe underscores the immense strategic value of our asset to our country.' The project is now one step closer to construction, backed by federal recognition as a White House 'Transparency Project' and support for domestic antimony supply under U.S. critical minerals policy. Article Source: CONTACT: Equity Insider [email protected] (604) 265-2873 DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Equity Insider is a wholly-owned subsidiary of Market IQ Media Group, Inc. ('MIQ'). This article is being distributed for media corp, who has been paid a fee for an advertising contract with RUA Gold Inc. (forty five thousand dollars Canadian for a three month contract subject to the terms and conditions of the agreement from the company direct). MIQ has not been paid a fee for RUA Gold Inc. advertising or digital media, but the owner/operators of MIQ also co-owns Media Corp. ('BAY') There may also be 3rd parties who may have shares of RUA Gold Inc. and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ/BAY does not own any shares of RUA Gold Inc. but reserve the right to buy and sell, and will buy and sell shares of RUA Gold Inc. at any time without any further notice commencing immediately and ongoing. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, which is disseminated by MIQ on behalf of BAY has been approved by RUA Gold Inc. Technical information relating to RUA GOLD Inc. has been reviewed and approved by Simon Henderson, CP, AUSIMM, a Qualified Person as defined by National Instrument 43-101. Mr. Henderson is Chief Operational Officer of RUA GOLD Inc., and therefore is not independent of the Company; this is a paid advertisement, we currently do not own any shares of RUA Gold Inc. but will likely buy and sell shares of the company in the open market, or through private placements, and/or other investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment. 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