ESGold Corp. (CSE: ESAU) (OTCQB: ESAUF) announced it will commence sonic core drilling of historic heap leach pads at its Santa Fe Gold Mine Project in Nevada’s Walker Lane, with permits expected shortly and mobilization of a Boart Longyear LS 450 rig to follow. The planned program includes 95 holes totaling 1,740 meters to evaluate potential gold and silver resources from pads associated with historic production of approximately 359,000 ounces of gold and 700,000 ounces of silver, with the company highlighting the potential for low-cost reprocessing to enhance project economics and support future production and cash flow growth.
The Santa Fe project is located in a prolific mining district within the Walker Lane trend, a region known for significant gold and silver deposits. By targeting the heap leach pads, ESGold aims to recover residual metals that were not extracted during previous operations. The company believes that reprocessing these materials could be a cost-effective way to generate near-term cash flow, given that the ore is already mined and crushed, reducing the need for extensive mining and milling infrastructure.
ESGold is a fully permitted, fully funded, pre-production mining company advancing a scalable clean mining model across North and South America. The Company’s flagship Montauban Gold-Silver Project in Quebec is under construction with production anticipated in 2026. With a dual-track strategy of cash flow today and discovery tomorrow, ESGold is building a platform for clean, sustainable growth and long-term shareholder value.
This drilling program represents a strategic move to unlock value from existing assets while advancing the company's broader portfolio. The results could demonstrate the viability of reprocessing historic tailings, a practice gaining traction in the mining industry as companies seek to reduce environmental footprints and leverage existing resources. For investors, the program offers a potential catalyst with relatively low capital requirements compared to greenfield projects.
For more information, visit the company’s newsroom at https://ibn.fm/ESAUF and the full press release at https://ibn.fm/LX3wW.
