- A recently posted editorial pointed to optimism for the mine development strategy that ESGold is pursuing, involving prioritizing accessible revenue generation over more speculative mining exploration
- ESGold is approaching the gold and silver market in a unique way, working to first rehabilitate an established legacy mine site in Quebec, generating sufficient capital to proceed with a deeper exploration strategy at a future date
- ESGold expects to generate significant revenue during the first few years of operation by recovering known metals and minerals that can be repurposed profitably
- The company has already conducted a non-invasive, cost-effective Ambient Noise Tomography (ANT) survey that resulted in a report this month indicating open potential at depth both vertically and laterally for ESGold’s eventual plans for exploration at the legacy site
Gold and silver resource developer ESGold (CSE: ESAU) (OTCQB: ESAUF) was featured in an editorial published this month, drawing attention to the company’s low-risk, nature-friendly, revenue-first strategy for developing abandoned mine operations into profitable enterprises.
While junior miners generally engage in speculative exploration that requires significant infusions of capital, ESGold has opted for a different approach that builds a revenue stream from readily accessible mine waste and other resources. That revenue can then be reinvested at a future point in exploration at sites abandoned by prior operators who lacked the necessary resources to fully realize their potential, according to a summary of the editorial.
“With gold prices at historic highs and demand for minerals across the board surging, this is an opportune moment for experienced, well-capitalized companies to secure their place in a revitalized market,” it states (https://ibn.fm/uiXy6).
ESGold’s operation is taking place at its fully permitted Montauban mine site in Quebec, Canada’s second-most populous province, with easy access to the nearby capital city.
The company is preparing to begin a toxic tailings cleanup later this year that will extract gold, silver, and mica.
“We have the capacity to generate on our first four, five years, close to $350 million on this low-hanging fruit (the tailings mineral cleanup and reuse), with almost zero cost,” Chief Operating Officer and former CEO Paul Mastantuono said last month during an interview with the Exploring Mining Podcast.
The company remains committed to the idea of future exploration at the site to further develop its gold producing potential. On July 11, ESGold announced the results of its Ambient Noise Tomography (“ANT”) survey, which revealed that Montauban may be far more than a single deposit.
“It is emerging as a deep, district-scale system with possible structural and geological continuity,” Director André Gauthier stated in the news release (https://ibn.fm/cjlJn).
More than 2.6 million short tons of gold, silver, lead and zinc were mined at the site under previous exploration between 1910 and the 1970s before the site was abandoned. The ANT survey analyzed deep crustal structures across a segment of the property using ambient seismic noise and 105 triaxial sensors continuously recording data.
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
