- Vancouver-based gold and silver resource developer ESGold Corp. is preparing to begin production on a legacy mine restoration project at Quebec that will improve the environment while generating revenue for the company’s planned exploration project
- As the company prepares for transition to the production stage, it has announced the appointment of experienced junior miner builder Peter Espig to its Board of Directors
- Espig gained distinction by helping junior miner Nicola Mining into a cash-flowing enterprise from creditor-protection status
- ESGold’s Montauban Gold-Silver Project covers 265 mining claims across 13,116 hectares (about 32,410 acres) with tailings for its reclamation effort, while the company conducts the site’s first-ever systematic exploration program to determine the size of the remaining deposit
Pre-production gold and silver resource developer ESGold (CSE: ESAU) (OTCQB: ESAUF) is announcing the appointment of seasoned mining executive and former global investment banker Peter Espig to its Board of Directors, establishing a vital leadership resource for the company as it prepares to transform itself from an exploration-stage junior into one of Canada’s important precious metals producers.
ESGold is distinguishing itself as an explorer and developer focused on expanding its clean extraction model that turns legacy mine sites into revenue-generating assets. The company is aiming to set new benchmarks in sustainable resource recovery through a scalable and replicable process.
Espig served as vice-president in the Principal Finance and Securitization Group and the Asia Special Situations Group at Goldman Sachs Japan, and has distinguished himself more recently as the president and CEO of junior miner Nicola Mining Inc.
Under his leadership, Nicola emerged from creditor protection status and transformed itself from a distressed asset into a cash-flowing mining enterprise, increasing its market capitalization by over tenfold.
“ESGold is entering a transformational phase — one that few mining companies successfully reach,” Espig stated in the company’s announcement (https://ibn.fm/V3iy3). “With a permitted asset, near-term production, and an ambitious but disciplined leadership team, I believe ESGold has the building blocks to become a scalable and sustainable Canadian producer.”
ESGold’s permitted asset is the Montauban Gold-Silver Project in Quebec, covering 265 mining claims across 13,116 hectares (about 32,410 acres) that are a historic resource with tailings the company will reprocess to fund district-scale exploration.
The company has used a proprietary non-cyanide extraction method in lab testing that produced gold recovery of 90.9%, and is further developing clean technology solutions through a joint venture with private consultancy DMCMS Inc.
The joint venture fuses mine waste with an organic polymer to turn the resulting product into environmentally friendly, sustainable building materials such as road stabilizers and dust suppressants.
A 2022 Construction Canada news report states the polymer requires no furnace cooking to set so it doesn’t produce carbon dioxide pollutants, and that the resulting product has proven to be stronger than concrete (https://ibn.fm/zbQk5).
As ESGold works to reprocess and revitalize legacy mine sites, it is delivering an opportunity for investors to see a straightforward approach to building revenue and profitability.
“We’re actually going to go into production in the next six to nine months, and after that we’re then going to do exploration,” ESGold President Brad Kitchen said in a November interview about the company’s operations (https://ibn.fm/YyUqM). “Most companies do a ton of exploration, then have to get their permits and have to go into production. We’re not. We’re going to be cash-flow positive by this time next year (in 2025).”
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
