ESGold Signs MOU for High-Grade Tailings Project in Colombia

Core Viewpoint - ESGold Corp. has entered into a joint venture with Planta Magdalena S.A.S. to develop and reprocess gold- and silver-bearing tailings in Bolívar, Colombia, aiming to expand its tailings-to-cash-flow model and enhance environmental remediation efforts [1][2][5]. Company Overview - ESGold is a pre-production gold and silver mining company focused on scalable clean mining and exploration innovation, with its Montauban project in Québec nearing production [18]. Joint Venture Details - ESGold will invest C$1.5 million for a 50% interest in the joint venture and has the right to purchase the remaining 50% within 12 months at fair market value [5]. - The Bolívar project is fully permitted, and ESGold will verify all permits and licenses as part of its due diligence [5]. Strategic Rationale - The joint venture aims to replicate ESGold's successful low-capex, high-margin tailings model from Montauban while improving environmental outcomes for local communities [5][12]. - Bolívar is recognized as one of Colombia's most prolific gold-producing regions, with significant artisanal mining activity that leaves substantial gold and silver in tailings due to outdated processing methods [12][13]. Initial Sampling Results - Preliminary due diligence involved collecting 27 tailings samples, with 8 samples assaying above 5 g/t Au and several high-grade results, including a notable 42.683 g/t Au [7][9][10]. - The region processes approximately 300,000 tonnes of ore annually, producing around 128,000 ounces of gold, but traditional methods recover less than half of the contained precious metals [12][13]. Next Steps - ESGold plans to finalize a definitive agreement with Planta following comprehensive legal, technical, and financial due diligence [20]. - The company aims to confirm recovery rates through ongoing bulk-sample concentrate tests and continue construction at Montauban [20].