- ESGold continues to build toward the commencement of tailings cleanup at a legacy Quebec mining site during the next few months, aiming to provide environmental recovery at the site while recovering precious metals still in the piles
- ESGold also announced this month that it has signed a joint venture development agreement for similar recovery with a company operating at historic mine site in Colombia
- The company has developed its tailings-to-cash-flow model as an innovative and scalable way to generate returns for shareholders without continual dilution through capital raises
- The region in Colombia is regarded as one of South America’s most prolific gold-producing regions and ESGold is anticipating the agreement will prove to be a launchpad for proving it can scale its model across multiple international jurisdictions
Clean process gold and silver recovery company ESGold (CSE: ESAU) (OTCQB: ESAUF) is announcing a joint venture (”JV”) development that expands the company’s operations beyond eastern Canada and into one of South America’s most prolific gold-producing regions.
ESGold has been building toward the start of production at its fully permitted holdings in Quebec, where it intends to establish the clean recovery of tailings left over from another company’s operations — effectively extracting precious metals.
The company announced Aug. 20 that it has now entered a binding memorandum of understanding with Colombia’s Planta Magdalena S.A.S. (“Planta”) to form the JV with the aim of developing and reprocessing fully permitted, gold- and silver-bearing tailings in that country’s Department of Bolívar.
The announcement exhibits ESGold’s potential for scalable production while delivering environmental remediation benefits to historic mining sites. ESGold’s low-capex, high-margin tailings model developed at the Montauban property in Quebec is expected to get under way in the next few months, using a mill circuit and related assembly to begin reprocessing the tailings.
“Bolívar has a long and storied history as one of Colombia’s most prolific gold-producing regions, with decades of artisanal and small-scale mining contributing significantly to the country’s overall output,” ESGold CEO Gordon Robb stated in the company’s announcement (https://nnw.fm/0SLgf).
“The region still processes hundreds of thousands of tonnes of ore annually, yet much of it is handled using rudimentary mercury amalgamation methods that leave behind a substantial amount of gold and silver in the tailings. This creates an immense opportunity for ESGold to apply modern, environmentally responsible recovery technology that can significantly improve yields while remediating legacy mine sites,” he added.
The company’s tailings-to-cash-flow model and near surface hardrock is expected to generate close to $350 million from the recovery operation in Quebec during the next four or five years. That money can then be reinvested in the company’s operations, paving the way for new exploration and discovery at the site (https://nnw.fm/fsRJw).
Due diligence at the Planta Magdalena site included the collection of 27 tailings samples, eight of which assayed above 5 g/t of gold, including several high-grade results. Several samples also returned notable values exceeding 190 g/t of silver, according to the company.
While additional systematic sampling and metallurgical test work are required to determine grade continuity, recoveries, and economic parameters, the company believes the Bolívar opportunity perfectly fits its vision for ESGold’s growth.
“The initial sample results are encouraging, and we’re eager to complete the next stages of technical and legal due diligence,” Chairman and COO Paul Mastantuono stated. “Our team sees this as a launchpad to scale our proven model across multiple jurisdictions, delivering value for shareholders while making a measurable positive impact in the communities where we operate.”
As ESGold delivers predictable, repeatable cash flow that in turn funds exploration and discovery without relying on continual equity dilution, the company expects to create a balance of stability and growth that allows its value to compound over time.
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://nnw.fm/ESAUF
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