08:13 AM EDT, 03/20/2024 (MT Newswires) -- Rugby Resources ( RBMNF ) on Wednesday a sampling program carried out by Australian joint-venture partner EMU NL identified copper and gold mineralization at their Georgetown property in the company.

The company said EMU, which has an option to acquire up to an 80% stake in the property, recovered some visible gold and a small nugget from panning, while a surface rock sampling program showed up to a 23.5% copper content.

"EMU's sampling program was designed to assess a number of higher-priority prospects within the Georgetown Project tenements utilizing termite mound and outcrop rock chip geochemistry. A total of 46 rock chip and 489 termite mound samples were collected across eight prospects. The program was curtailed due to the arrival of a cyclone," the company said.

Rugby shares closed unchanged at at C$0.065 Tuesday on the TSX Venture Exchange.