ESGold Reports Positive Results from Colombian Tailings

Core Insights - Initial testing confirms favorable gold and silver recoveries from historical tailings using a simple, low-reagent gravity circuit, validating ESGold's clean, low-cost extraction model and supporting future pilot and expansion plans [1][3] - The results indicate strong potential economics through a clean extraction process, with further optimization expected to enhance recovery rates [3][6] - The company is advancing its pilot work and assessing additional sources of higher-grade feed in the Bolívar region of Colombia [3][5] Economic Significance - The development concept leverages surface materials that have undergone ore treatment, potentially shortening the path to cash flow by avoiding drilling, blasting, and haulage [4] - Preliminary results are not production forecasts and are insufficient to demonstrate economic viability at this stage [4] Next Steps - ESGold will focus on parameter optimization, confirmatory sampling, and pilot-scale testing on site in Colombia to refine recoveries and finalize the modular flowsheet design [5] Investor Relevance - Early metallurgical results validate ESGold's strategy of identifying low-CapEx, high-margin opportunities, enhancing the company's long-term growth outlook [6] - The combination of near-term production from the Montauban project and the potential operation in Colombia positions ESGold as a sustainable emerging producer in the gold and silver sector [6] Metallurgical Results - Representative feed grades show mean analyzed values of approximately 4.88 g/t Au and 35.7 g/t Ag, with recoveries varying by test, achieving up to 52% Au recovery in one instance [7] - Average gravity concentrate grades were approximately 59 g/t Au and 193 g/t Ag across tests, with a mass pull of about 2.8% of feed reported to gravity concentrate [7]