- Sustainable mining company ESGold is stretching beyond its nascent Quebec mine tailings cleanup operation to evaluate its scalability for potential revenue generation at any of the thousands of similar sites throughout the Americas
- The company is nearing the finish line in facilities construction for tailings recovery at an abandoned legacy operation west of Quebec’s capital city, where it expects to generate up to $350 million during the coming decade from the tailings cleanup and near-surface hard rock
- ESGold expects to recover residual gold and silver from the tailings, while processing other mineralization for a concentrate
- The near-term tailings reprocessing strategy is expected to generate revenues that can then be repurposed for future exploration for potentially untapped reserves of gold and silver without the need for large capital raises
Sustainable gold mining innovator ESGold (CSE: ESAU) (OTCQB: ESAUF) is continuing the construction of production facilities at its eastern Canada mine tailings reclamation site, and is also examining other potential sites for similar recovery and revenue generation throughout North and South America.
ESGold owns 265 mining claims at the historic Montauban Mine project west of Quebec’s capital city and is building the gravity separation circuit (using Humphrey spiral concentrators) necessary to efficiently and economically reprocess tailings abandoned by a former operator there.
Revenue generated from the environmental cleanup operation can then be used to move the company toward exploration of potential untapped resources still in the ground.
“The traditional exploration model has eroded more capital than it’s created,” ESGold CEO Gordon Robb stated in a recent news release (https://nnw.fm/4J6yP) (https://ibn.fm/7qmyL). “Our approach reverses that equation. We begin with production — monetizing what others left behind — then reinvest from a position of strength into exploration. Montauban is our proof-of-concept. We believe this model can scale to dozens, even hundreds of other tailings sites across the Americas and elsewhere.”
The company cites U.S. environmental data reporting more than 500,000 abandoned mine sites exist in North America, many of which contain tailings piles with residual precious and base metals awaiting evaluation. Larger opportunities exist in South America, where decades of small- to mid-scale mining operations in gold-rich areas of Peru, Bolivia, Colombia and Chile have left behind extensive tailings volumes.
ESGold’s scalable model is uniquely positioned to deal with the environmental liabilities for landowners, municipalities and governments at numerous sites with abandoned tailing piles while further developing revenue generation through extracted minerals and metals.
The company believes that the Montauban site has the potential to generate approximately $350 million from the tailings cleanup and partial processing of the crown pillar during the coming decade. Additionally, a non-invasive Ambient Noise Tomography (“ANT”) has revealed the possibility of finding additional precious metals in a mineral system that remains open at depth — both vertically and laterally.
The Montauban recovery site shows significant similarities with a globally renowned metal deposit in Australia — which has allowed ESGold to shift Montauban from classification as a simple historic producer to a high-impact exploration opportunity.
More than 2,500 meters of strike length and over 1,200 meters of vertical continuity have been interpreted through the advanced ANT mapping at the Canadian site.
“There’s an enormous untapped economic and environmental opportunity here,” company COO and Chairman Paul Mastantuono stated. “With permitting in place and construction advancing at Montauban, we’re proving that sustainable, scalable, clean mining is not only possible — it’s happening. We’re turning tailings into a potential resource and using that foundation to explore for something much bigger.”
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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