• Canadian-based ESGold is preparing to begin a tailings cleanup and reuse operation at its Montauban historic mine site holdings, with plans to generate revenues that can eventually be invested in new exploration at the site without dependence on market funding
• ESGold recently announced the results of a non-invasive Ambient Noise Tomography (ANT) survey at the site, which identified several significant genetic and structural similarities with the globally renowned Broken Hill deposit in New South Wales, Australia
• The analogues between Montauban and Broken Hill strengthen ESGold’s theory that exploration potential remains open at depth both vertically and laterally for a polymetallic deposit, reinforcing the company’s evolving view of Montauban as a structurally complex, vertically continuous mineral system
• The near-term tailings reuse cash flow strategy is expected to generate $350 million during the first few years of operation

Sustainable gold mining innovator ESGold (CSE: ESAU) (OTCQB: ESAUF) is reporting the excitement over findings that its Montauban recovery site in Quebec, Canada, shows significant similarities with a globally renowned metal deposit in Australia — shifting Montauban from classification as a simple historic producer to a high-impact exploration opportunity. 

The company’s Ambient Noise Tomography (ANT) survey produced seismic imaging results that support ESGold’s theory that the gold and silver mine site covering 13,116 hectares (about 32,410 acres) west of Quebec’s capital city shares significant genetic and structural similarities with the globally renowned Broken Hill deposit in New South Wales, Australia. 

“We are now combining academic research with advanced imaging and historical data to build an exploration plan that could unlock something far greater than originally envisioned,” ESGold CEO Gordon Robb stated in the company’s July 24 news release (https://ibn.fm/ZXNsW). “We are finding Montauban to be far more geologically complex and promising than previously understood.”

Australia’s Broken Hill ore deposit has emerged as arguably the world’s richest and largest zinc-lead ore deposit and historically a producer of silver and gold since its discovery in the 1800s (https://ibn.fm/GPsSK).

Two peer-reviewed academic studies conducted by the University of Calgary (U of C) (https://ibn.fm/5zQzL) and the University of British Columbia (UBC) (https://ibn.fm/D89Uh) demonstrate that “prograde hydrothermal activity and sulphide melting during amphibolite-grade metamorphism led to gold and silver remobilization into wall rock zones” and that “three key remobilization mechanisms — prograde hydrothermal activity, sulphide melting, and mechanical deformation — collectively contributed to the formation of stacked, vertically persistent sulphide lenses within the deposit.”

Identification of these processes significantly expanded the exploration footprint for gold and silver redistribution and thickening of sulphides at fold hinges. 

The non-invasive ANT survey conducted by Caur Technologies at Montauban in July (https://ibn.fm/pLpiZ) delivered findings that support the remobilization and vertical stacking model identified at Broken Hill in the University of Calgary study, as well as the presence of hydrothermal pathways, melt-fluid interactions, and deformation structures described in the UBC study, identifying Montauban as a polymetallic system analogous to Broken Hill, although ESGold acknowledges many steps remain to be completed before confirming this theory. 

Exploration at the site remains a long-term goal for the company. ESGold’s near-term strategy is to generate revenue through a tailings cleanup operation at the site that is expected to generate profitable gold, silver and mica recovery. 

“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.

“We’re not just exploring first and going down the same path that most exploration companies do,” new CEO Gordon Robb said during a recent interview with the podcast (https://ibn.fm/hquQq). “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.” 

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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