Rua Gold's Auld Creek Project launches 19,000m drill push amid record gold prices
Rua Gold’s Auld Creek Gold-Antimony Project is moving forward with a major 19,000-metre drill programme now active. Six rigs are operating at the Reefton site, part of a broader push to develop the high-value project. The company has also submitted a Fast-Track Referral application, aiming for a swift approval process within three months. The Auld Creek Project holds strong economic potential, with an after-tax net present value (NPV5%) of US$42 million and a 17% internal rate of return (IRR) at long-term commodity prices. If gold remains near current record levels—approaching US$5,000 per ounce by late 2026—those figures jump to a US$113 million NPV5% and a 36% IRR.
The project’s preliminary economic assessment (PEA) outlines a 5.5-year mine life, producing around 26,665 gold-equivalent ounces annually. With antimony now classified as a U.S. Critical Mineral after China’s 2024 export restrictions, the project’s dual focus on gold and antimony adds strategic value. Rua Gold holds roughly C$38 million in cash, enough to fund exploration and permitting through 2026. The Auld Creek development is expected to create about 200 jobs and inject NZ$240 million into the local economy. Gold prices have surged in 2026, reinforcing the project’s financial appeal. The company’s Fast-Track Referral, filed on 20 April 2026, seeks to accelerate permitting for the mine.
The Auld Creek Project advances with drilling, permitting, and strong market conditions. A decision on the Fast-Track Referral is due by mid-July 2026. If approved, the mine could begin production within the projected 5.5-year timeline, boosting regional employment and economic output.
