- The Montauban mine site in Canada’s Quebec province is being rehabilitated after prior operations and tailings were abandoned
- ESGold’s green resource development project at the site is expected to breathe new life into the mine while helping the company to extract revenues from residual mineral recovery
- The gold and silver resource developer is preparing to launch tailings cleanup early next year
- ESGold’s long-term strategy is to use revenues from the site cleanup to commence district-scale exploration that has a mineral system that remains open at depth — both vertically and laterally
Gold and silver recovery company ESGold (CSE: ESAU) (OTCQB: ESAUF) is preparing the site before setting in motion its near-term plan for revenue generation at the historic Montauban Mine project in eastern Canada, where the company owns 265 mining claims covering 13,116 hectares (about 32,410 acres).
Montauban produced more than 2.6 million short tons of gold, silver, lead and zinc during the 1900s amid sporadic exploration efforts that generated about a half dozen tailings sites. Most geological data for the site has come from tailings and a few shallow boreholes, with virtually no deep-penetrating geophysical data until now.
ESGold received results from an Ambient Noise Tomography (“ANT”) survey last month, however, that used a non-invasive geophysical technique to map subsurface structures to 400 meters, with the survey exceeding expectations by imaging to depths of 1,200 meters. The ANT survey reaffirmed that Montauban’s mineral system remains open at depth — both vertically and laterally.
ESGold is developing the Montauban Mine project with plans to profitably extract significant residue minerals, but the company’s near-term plans entails building revenues before commencing significant exploration.
The revenue-generation plan is centered on the company’s tailings recovery operation, which is scheduled to begin in 2026. The tailings recovery will not only prove environmentally beneficial to the abandoned site and the surrounding communities, but it will allow ESGold to harvest residual gold and silver as well as mica that will be processed in a polymer for construction and road work projects.
The strategy shows the company’s drive to move forward with purpose rather than waiting on investor capital raises to finance exploration.
“We’re not just exploring first and going down the same path that most exploration companies do,” new CEO Gordon Robb said during an interview with the Exploring Mining podcast (https://ibn.fm/8vQpo). “That is why ESGold is so exciting to me, is we are fully permitted. We are very close to production — we have a mill onsite, we have tailings piles that are ready to be processed, and we just have a few more steps to get there to start producing, be cash-flow positive and then funnel that money into exploration, where we don’t need to go to the market with our hand out.”
The Montauban site is located with easy, developed access to Quebec’s nearby capital city. The existence of numerous other abandoned mining and mining exploration sites in Quebec that also have contaminated tailings means, additionally, that the project is fully scalable with the potential for this process to be repeated nearby.
The company believes that the Montauban site has the potential for another decade’s worth of production, with perhaps close to $350 million to be derived from the tailings cleanup and surface hard-rock during the next four or five years.
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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