ESGold Corp. is advancing its Montauban Project in Quebec toward first gold and silver production targeted for the third quarter of 2025. The company recently closed a private placement of C$3.4 million, providing the necessary funding to enter the construction phase of its mill circuit. This financial milestone represents a critical step in transitioning from exploration to production for the strategically located project situated 80 kilometers west of Quebec City.
A final-phase Ambient Noise Tomography survey has delivered results exceeding depth expectations and will support the development of a comprehensive 3D geological model expected later this month. The survey revealed the significant discovery of rhodonite and identified geological similarities to Australia's Broken Hill deposit, indicating potential major exploration opportunities that could substantially expand the project's resource base. These geological findings suggest significant potential for future exploration and resource expansion, potentially representing a critical milestone in the project's development and ESGold's long-term strategic objectives.
The Montauban Project embodies a strategic approach to responsible mining practices, combining near-term production capabilities with district-scale discovery potential. ESGold is positioning itself as an innovative resource company committed to sustainable mineral exploration through this fully permitted project that underscores the company's commitment to efficient and environmentally conscious resource recovery. The project's advancement reflects a balanced approach that prioritizes both operational efficiency and environmental stewardship.
An updated Preliminary Economic Assessment (PEA) and grant application strategy are currently in development, further demonstrating the company's comprehensive approach to project advancement. These initiatives will provide additional technical and financial frameworks to support the project's progression toward production. The combination of recent geological discoveries, adequate funding, and strategic planning positions ESGold to capitalize on the Montauban Project's potential as both a near-term producer and long-term exploration opportunity in Quebec's mineral-rich landscape.
