We will develop the camp in a manner that will respect of all stakeholders around our milling facility, but our priority is to reclaim the legacy tailings and restore the heydays of mining at Montauban.” In short, we are not there for only four years.

This offers us tremendous potential and room for expansion from an exploration perspective. We also intend to further explore the Property, as it is the first time that most of the key territory is owned by a single exploration company. The Company has yet to apply for permitting to extract these short-term complementary potential mineral resources. Two underground sectors drilled in 20 are identified for potential near-surface bulk sampling. It is also our goal to exploit these hard rock historical mineral resources, which will need additional work to comply with current NI 43-101 standards. The 2003 technical report describes two surface blocks: one identified as the south block with 114,473 tons at 6.1 g/t Au and 94 g/t Ag - equivalent to 22,281 ounces of gold and 347,086 ounces of silver - and a north block with 274,500 tons grading 2.8 g/t Au and 15.0 g/t Ag - corresponding to 24,917 ounces of gold and 133,912 ounces of silver. Marchand in 2003, which is not considered current by the Company. The Property also hosts an historical underground hard-rock resource prepared by Mr. The positive results of the PEA will allow us to seek financing for the completion of the mill, the construction of the new tailings pond and submission of the Bond for the reclamation plan. We are in a good position, as we are permitted and have an approved reclamation plan. The Company will also recover a portion of the coarse micas during processing. The Company intends on cleaning the area and delivering a secured non-acid generating tailings pond. The various tailings have unique topography and are not saturated, which makes them amenable to rapid development and extraction. The stabilization of the orphan tailings at Montauban includes the addition of limestone from the nearby St-Marc des Carrières quarry. Jean Yves Therien, CEO & Director, “The PEA clearly demonstrates the low cost and positive return of the Montauban reprocessing / remediation project using a traditional excavation and reprocessing scenario, which includes pulping, pumping, gravity separation, cyanidation for gold/silver recovery with Merryl Crow. Operation cost per tonne of tailings at C$ 29 Pre-tax net present value (NPV) (discount rate 5%) of C$ 14.08M, internal rate of return (IRR) of 42.6% and payback of less than 2 years Īfter-tax NPV (discount rate 5%) of C$ 6.99M, IRR of 23.4% and payback of less than 2 yearsĪssumed gold (Au) price $1750US/Oz, silver (Ag) price $21US/Oz and mica concentrate price $200US/t with a CAD/USD exchange rate of 1.35 Ĥ years of mine life with 923,000 tonnes of tailings at 0.41 g/t Au 33.34 g/t Ag and the recovery of 57,187t of mica The PEA comprises the first cornerstone of ESGold’s strategy to revive the area’s 100 year mining history. The PEA presents a positive tailings reprocessing operation with very attractive economics, and sets the table for the rejuvenation of Montauban-les-mines with the proactive remediation of the legacy mine tailings. The mineral claims comprising the Montauban property (the “Property”) are located in southern Quebec, 120 km west of Québec City and 80 km northeast of Trois-Rivières, and straddle the border of the Mauricie and Capitale-Nationale Administrative Regions of Quebec. (“ESGold” or the “Company”) (CSE:ESAU ), ( Frankfurt:N2W ), ( OTC:SEKZF) is pleased to report it has received results of a positive Preliminary Economic Assessment (PEA) delivered by multidisciplinary team of experts, JPL Geoservices, Edmond St-Jean Eng., Groupe Alphard, independent consultants under the lead of GoldMinds Geoservices of Quebec, Canada, for the reprocessing of several tailings sites from the historic Montauban gold-silver-zinc-lead mines. VANCOUVER, BRITISH COLUMBIA – TheNewswire - Ma– ESGold Corp. Preliminary Economic Assessment Shows a 42.6% Pre-Tax IRR, C$ 14.08m Pre-Tax Npv5% and Less Than Two Years Payback

Stockpile calculator excel