ESGold (CSE: ESAU; US-OTCQB: ESAUF) announced it has completed the main mill building at its fully permitted Montauban gold-silver project in Quebec. This marks a critical step towards production. With structural work finalized, ESGold now advances equipment procurement and installation, moving the project into its commissioning phase.
Gordon Robb, CEO of ESGold, said: “Completing the mill building is a defining achievement for ESGold. This milestone transitions us from construction to commissioning and represents tangible progress toward near-term production. Our team has done an incredible job keeping the project on schedule. We are now focused on ordering, installing, and integrating equipment to bring Montauban online. In parallel, our geological team is finalizing the comprehensive 3D model that will guide the next phase of exploration and expansion. We’re building not just a mine, but a long-term platform for growth and value creation for our shareholders.”
The Montauban mill building’s structure, concrete flooring, and interior divisions are now complete. The on-site gold room and laboratory have also finished construction. These facilities will handle metallurgical testing and exploration analysis, and securely house gold and silver doré before shipment to off-takers and refineries. With the facility complete, ESGold transitions to the next crucial phase: equipment sourcing, delivery, and installation, preparing for commissioning.
ESGold has begun procuring processing equipment for the Merrill Crowe circuit, including clarifying tanks, filtration units, and vacuum systems. Once all components arrive, the team will proceed with system integration and commissioning, ensuring seamless alignment with the plant’s clean, closed-circuit design.
The company anticipates commissioning activities will follow installation shortly, leading to the first gold and silver production from Montauban in 2026.
The company anticipates several key milestones, including the public release of the Montauban 3D geological model to guide exploration and resource expansion. They also plan to initiate a targeted exploration and drill program based on newly interpreted structural data. Additionally, ESGold is sourcing and procuring key processing equipment to advance construction and readiness for commissioning. This includes the delivery and installation of Merrill-Crowe circuit components to enable on-site gold and silver recovery. All these efforts drive towards the first gold and silver production in 2026, marking the transition from construction to operations.
The completion of the Montauban mill building mitigates risks for ESGold’s transition to production. It demonstrates the Company’s ability to execute efficiently. With funding secured, construction complete, and procurement underway, ESGold is well positioned to move from build to commissioning. The combination of near-term cash flow potential and large-scale exploration upside continues to define ESGold as one of Canada’s most advanced, scalable clean-mining developers.
As construction progresses, ESGold’s geological and technical teams are finalizing the comprehensive 3D geological model for the Montauban district. This model integrates geophysical, historical, and ANT survey data to refine drill targets and identify deeper mineralized structures. The results will form the foundation for an expanded exploration strategy designed to unlock Montauban’s broader discovery potential.
ESGold’s advancement of the Montauban project relies on its updated preliminary economic assessment (PEA). This PEA remains the current technical study for the property. The study outlined robust economics, with an after-tax NPV (5%) of C$24.27 million and an after-tax IRR of 60.3 percent. It also projected a pre-tax NPV (5%) of C$44.53 million and a pre-tax IRR of 105.1 percent, highlighting a payback period of less than two years from production start. The study demonstrated strong project economics with low capital intensity and high operating margins. It also emphasized the potential for early cash flow from reprocessing historical tailings and producing gold and silver dore.
More information is posted on www.EsGold.com.
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