Disseminated on behalf of ESGold Corp. (CSE: ESAU) (OTCQB: ESAUF)and may include paid advertising.
- Canadian near-term precious metal producer ESGold is advancing toward the May start of a drill program expected to further define priority targets on its 20,618-hectare Montauban Gold-Silver Project in Quebec
- The company is simultaneously working to construct a fully permitted mill on site and expand the scope of its exploration
- ESGold is employing a low CapEx strategy that includes funding from a private placement initiative and an agreement with Ocean Partners UK Ltd. that provides a credit facility and a dedicated buyer of gold and silver produced from its planned tailings cleanup operation
- Despite market fluctuations, gold has effectively doubled in value since January 2025 and is expected to remain at near-record levels in the coming months, benefiting companies positioned to provide supply for continued demand
Clean process near-term gold and silver production company ESGold (CSE: ESAU) (OTCQB: ESAUF) is completing preparations for anticipated drilling operations in May at its Montauban Gold-Silver Project in Quebec while simultaneously progressing toward mill construction and an expanded exploration footprint.
“We are fully funded to execute on this plan, and our focus is on disciplined execution across both development and exploration as we move through what we believe will be a very important period for the company,” ESGold CEO Gordon Robb stated in a news release earlier this month (https://ibn.fm/07Mcq).
ESGold is employing a tailings-cleanup-to-cash-flow model to generate revenues that can then be reinvested in the company’s operations, paving the way for new exploration at the site.
“We are fully permitted for a thousand-ton-per-day [mill] operation. We’re fully funded to build the thousand-ton-per-day facility and we will be generating revenue to fund further exploration and development of the past-producing Montauban asset,” Robb added during an interview at the March Swiss Mining Institute (“SMI”) conference in Switzerland with conference Chairman Carlos Vargas (https://ibn.fm/o0odT).
“We have material sitting on surface. … If we can extract that economic value while cleaning up these tailings, it puts us in a very enviable position to be generating cash flow,” he added. “We have equipment arriving onsite. That building is complete. … We’re looking to be cash-flowing by the year-end.”
ESGold inked a C$9 million binding term sheet with Ocean Partners UK Ltd. last year that provides a credit facility to the company, while Ocean Partners buys the gold and silver dore produced from Montauban tailings and crown pillar material. The company had access to the first C$3 million tranche in February, while the remaining C$6 million will be available in a second tranche approximately five months before Phase 2 production, which is currently expected to begin next March.
The targeted drill program will test zones identified as high potential areas by ESGold’s expanded Ambient Noise Tomography (“ANT”) imaging as well as data from historical drilling and detailed structural interpretation.
“This is a past-producing asset that was never properly explored,” Robb said in the SMI interview. “The deepest drill hole went down to about 200 meters at depth. It was never drilled to the north [or] the south. We wanted to get a better idea of what we’re looking at, so we did an ANT survey coupled with a VTEM (Versatile Time Domain Electromagnetic) survey and we put together a 3-D model. … What we saw was something a lot bigger than originally anticipated. We found structure down to 900 meters at depth to the strike that looked [at least] 2 kilometers at length. It really excited our geologists and gave us a lot of targets.”
The program aims to determine if the mineralized corridor continues across the broader land package and to further define the scale and structural framework of the Montauban system, which spans 417 mining claims and 20,618 contiguous hectares (about 50,948 acres) across the Montauban and Chavigny townships west of Quebec City (https://ibn.fm/c2bvN).
“[The mill construction, ANT survey and drill program] are foundational steps, and they are all advancing at the same time. What is particularly exciting is how these initiatives come together. We are moving toward production while, in parallel, expanding our understanding of what we believe could be a much larger system,” Robb stated in the news release.
Gold has enjoyed a massive surge in spot value since the beginning of the current U.S. administration, and while recent market fluctuations have brought gold back from its record peak in March the precious metal continues to enjoy a price level nearly double where it was in January 2025, creating optimism for gold sector producers positioned to provide supply for demand.
For more information, visit the company’s website at https://esgold.com.
NOTE TO INVESTORS: The latest news and updates relating to ESAUF are available in the company’s newsroom at https://ibn.fm/ESAUF
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