ESGold Corp. Continues to Increase the Size of its Montauban Property Through the Acquisition of an Additional 39 Mining Claims Totaling 2286 Hectares
VANCOUVER - May 29, 2024, ESGold Corp. ("ESGold" or the "Company") (CSE: ESAU, Frankfurt: N2W, OTC: SEKZF), one of the few exploration companies involved in the Montauban mining region located in the southern part of the Province of Quebec, Canada is pleased to announce that it has staked an additional 39 Mining Claims totaling 2286 hectares. The staked mining claims are open ground adjacent to its main mining claim block. More specifically some of the newly acquired mining claims are directly adjacent to semi massive sulphides (35%<sulphurs>65%) showings as indicated on the Gestim website. With the acquisition ESGold now holds 255 mining claims totaling approximately 13,116 hectares representing the largest mining claim package held by one mining company within the Montauban mining region.
ESGold with its commitment to responsible resource development and sustainable mining practices, is embarking on an ambitious exploration program aimed at unlocking the full mineral potential of the region. Through systematic claim staking, the company aims to strategically position itself to capitalize on promising mineral deposits while ensuring environmental stewardship and community engagement.
The decision to continue additional claims staking was based on the continued positive results of comprehensive and systematic geological surveys, including geophysical and geochemical analyses and preliminary exploration activities that have indicated significant potential mineralization within the region. One of the primary objectives of the company is to delineate the regional mineralization trends and identify potential targets for further exploration and development as well as to verify the immediate extension of the deposit at depth.
Reported historical past production from the Montauban Property includes 150,000 ounces of gold, and 7,000,000 ounces of silver as well as 109,000 metric tons of zinc and 37,000 metric tons of lead. (source: John Langton P. Geo, NI 43-101 Technical Report February 4th, 2022)
The Montauban mines, known for their zinc and silver deposits, have not been systematically explored on a regional scale. This lack of in-depth exploration could be due to several factors, including but not limited to geographic constraints, limited financial resources, or a lack of interest in the past.
Additionally, the Montauban deposits are primarily associated with massive sulfides, meaning that zinc and silver minerals are present in high concentrations in specific areas rather than disseminated. Historical results and past work clearly demonstrate the continued development of the property over the years on a limited area of the bearing geological unit. Underground workings include declines, shafts, and an extensive network of drifts on various levels. Additionally, of the many significant highlights on the property, the south strike zone contains near surface mineralised rock as well as the St. Thomas showings located approximately 5km south from the south strike zone. (sources: Mr. Jacques Marchand Min. Eng., 2010 Resource Evaluation Report and Mr. Christian Derosier, Geo., 2007 Technical Report)
The acquisition of the additional claims solidifies ESGold's Montauban Property bundle, while expanding its exploration and mining potential. These newly acquired claims are in line with the Company's objective of low capital cost production targets while positioning the Company for continued growth with the Montauban Project. Procuring these claims will positively impact the Company's long-term exploration program and enhance the value of these prospective claims," said Jean-Yves Therien, CEO of ESGold Corp.
ESGold remains committed to transparent communication and engagement with local stakeholders throughout the exploration process. The company will continue to work closely with regulatory authorities, local communities, and indigenous groups to ensure that exploration activities are conducted responsibly and in alignment with community interests.
As the development and exploration program progresses, ESGold will provide timely updates on its findings and milestones, reaffirming its commitment to transparency and accountability in all its operations.
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The Company has issued to Officers and consultants a total of 2,600,000 common shares. All securities issued will be subject to a statutory hold period expiring in accordance with applicable securities legislation.
Qualified Person
The technical information in this news release was reviewed and approved by Claude Duplessis, P.Eng. Quebec, of GoldMinds Geoservices Inc., who is an independent Qualified Person in accordance with National Instrument 43-101.
Pour une traduction française de ce communiqué de presse, veuillez visiter notre site Web à www.esgold.com.
About the Company
ESGold Corp. is a Canadian environmentally aware resource exploration and processing company. Management has demonstrated expertise in advancing gold exploration projects into acquisition targets, most notably in the province of Quebec. ESGold's principal restoration and recovery project is the Montauban property situated in Quebec, just 80 kilometers west of Quebec City.
For more information on ESGold Corp. please contact the Company (+1 514-712-1532) or visit the website www.esgold.com for the French version of this press release, for past news releases, 3D model of the Montauban processing plant, media interviews and opinion-editorial pieces. To keep up with what's going on with ESGold please join our shareholders chat room on telegram :https://t.me/+SQeyLoDRjIAwMDVh
On behalf of the Board of Directors,
"Jean Yves Therien"
Chief Executive Officer
"John Stella"
Investor contact
Tel: +1 514-712-1532
Email: info@esgold.ca
This press release contains "forward-looking information" that is based on the Company's current expectations, estimates, forecasts, and projections. This forward-looking information includes, among other things, statements with respect to the Company's exploration and development plans. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward looking information.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release.
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