ESGold Corp. is advancing its Montauban Project in Quebec with targeted first gold and silver production scheduled for the third quarter of 2025. The company recently secured C$3.4 million through a private placement, providing essential funding to initiate the construction phase of the mill circuit. This financial milestone enables the company to move forward with its strategic development plan for the project located 80 kilometers west of Quebec City.
Recent geological investigations have yielded promising results through a final-phase Ambient Noise Tomography survey that exceeded depth expectations. The survey data will support the development of a comprehensive 3D geological model expected to be completed later this month. Among the significant findings is the discovery of rhodonite, a mineral that often occurs in gold-bearing environments, along with geological similarities to Australia's renowned Broken Hill deposit. These discoveries indicate substantial potential for major exploration opportunities beyond the initial production targets.
The project represents ESGold's strategic approach to responsible mining practices, combining near-term production capabilities with district-scale discovery potential. The company is positioning itself as an innovative resource company committed to sustainable mineral exploration through its fully permitted Montauban Project. This commitment to efficient and environmentally conscious resource recovery is further demonstrated through the development of an updated Preliminary Economic Assessment and grant application strategy currently in progress.
The geological discoveries, particularly the rhodonite identification and similarities to the Broken Hill deposit, suggest significant potential for future exploration and resource expansion. These findings could represent a critical milestone in the project's development and ESGold's long-term strategic objectives, potentially transforming the Montauban Project from a production-focused operation into a major exploration district with substantial resource growth opportunities.
