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• ESGold released an ANT-based 3D geological model that visualizes mineralized corridors across the Montauban Project using historical and modern datasets.
• Mineralization has been imaged to a depth of ~900m, and identified over 2km of strike length, significantly expanding the system.
• Results are limited only by survey coverage and remain open, with further scale anticipated.
• The model reframes Montauban as a district-scale system, highlighting meaningful upside beyond the limits of historical drilling.
• We recently initiated coverage on ESGold (read the full report here).
This morning, ESGold Corp. (ESAU:CSE, ESAUF:OTC, Z7D:FSE) announced results from a comprehensive Ambient Noise Tomography (ANT) based 3D model at its Montauban Project in Quebec. The model outlines mineralization extending to a depth of ~900m versus historical drilling, which was confined to ~50m (deepest hole reached ~250m). In addition, the updated interpretation outlines a strike length of ~2km within the surveyed area, and mineralization widening at depth. The model is currently bounded by the limits of the ANT survey and remains open, highlighting significant potential for further expansion to grow Montauban into a much larger mineralized system than previously thought. We are maintaining our BUY rating and target price of C$1.30/share on ESGold.
ANT velocity data integrated with historic and modern datasets have defined coherent structural corridors that are comparable to historical mineralization mined at Montauban, further supporting the model’s results. Additionally, significant north-northwest and northeast trending structures have been interpreted as first-order controls on hydrothermal fluid flow and mineral deposition, which aligns with that seen at large polymetallic VHMS systems around the world. Today’s results reinforce the expectation that Montauban is a much larger, vertically extensive, and structurally controlled system, and the ~4-year tailings reprocessing operation is just the beginning of the potential of the project.
ESGold is now advancing exploration plans to expand ANT coverage across the property and will be integrating additional geophysical datasets to refine targets. The Company will also be preparing a step-out diamond drill program to test the significant targets outlined in the model and expects to commence drilling in early spring 2026. Drill plans will advance in parallel with continuing to move the tailings operation toward production, which is expected later this year.
ESAU: Integrated Model Highlights District-Scale Potential
What you need to know:• ESGold released an ANT-based 3D geological model that visualizes mineralized corridors across the Montauban Project using historical and modern datasets.
• Mineralization has been imaged to a depth of ~900m, and identified over 2km of strike length, significantly expanding the system.
• Results are limited only by survey coverage and remain open, with further scale anticipated.
• The model reframes Montauban as a district-scale system, highlighting meaningful upside beyond the limits of historical drilling.
• We recently initiated coverage on ESGold (read the full report here).
This morning, ESGold Corp. (ESAU:CSE, ESAUF:OTC, Z7D:FSE) announced results from a comprehensive Ambient Noise Tomography (ANT) based 3D model at its Montauban Project in Quebec. The model outlines mineralization extending to a depth of ~900m versus historical drilling, which was confined to ~50m (deepest hole reached ~250m). In addition, the updated interpretation outlines a strike length of ~2km within the surveyed area, and mineralization widening at depth. The model is currently bounded by the limits of the ANT survey and remains open, highlighting significant potential for further expansion to grow Montauban into a much larger mineralized system than previously thought. We are maintaining our BUY rating and target price of C$1.30/share on ESGold.
ANT velocity data integrated with historic and modern datasets have defined coherent structural corridors that are comparable to historical mineralization mined at Montauban, further supporting the model’s results. Additionally, significant north-northwest and northeast trending structures have been interpreted as first-order controls on hydrothermal fluid flow and mineral deposition, which aligns with that seen at large polymetallic VHMS systems around the world. Today’s results reinforce the expectation that Montauban is a much larger, vertically extensive, and structurally controlled system, and the ~4-year tailings reprocessing operation is just the beginning of the potential of the project.
ESGold is now advancing exploration plans to expand ANT coverage across the property and will be integrating additional geophysical datasets to refine targets. The Company will also be preparing a step-out diamond drill program to test the significant targets outlined in the model and expects to commence drilling in early spring 2026. Drill plans will advance in parallel with continuing to move the tailings operation toward production, which is expected later this year.
Underlying
ESGOLD CORP.
Provider
Atrium Research Corporation
Atrium Research provides institutional quality issuer paid research on North American public equities using deep fundamental analysis. Our research reports are disseminated through Bloomberg, FactSet, Capital IQ, Reuters and many more, as well as through our social media and email distribution lists.
Ben Pirie
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