Barrick Mining divests 50% stake in Donlin Gold project for $1bn
NOVAGOLD Resources and Paulson Advisers have completed the $1bn acquisition of Barrick Mining's 50% interest in the Donlin Gold project.
This deal establishes new ownership of Donlin Gold to advance the project, which is located in the historic Kuskokwim Gold Belt in south-west Alaska, 10 miles north of the village of Crooked Creek.
At the closing, NOVAGOLD increased its stake to 60% by acquiring an additional 10% in Donlin Gold for $200m (C$274.17m), while Paulson secured a 40% interest for $800m.
In April 2025, Barrick Gold signed a definitive agreement with the affiliates of Paulson Advisers and NOVAGOLD Resources to sell its 50% interest in the Donlin Gold project – held by Barrick's subsidiary, Barrick Gold US.
Both companies have entered into a new agreement with equal governance rights over Donlin Gold.
Following the upsized public offering and private placement that concluded on 9 May 2025, NOVAGOLD had $327m available to fund the additional stake and ongoing activities at Donlin.
The company has chosen not to prepay the $90m debt owed to Barrick at closing but retains the option to do so for $100m within 18 months.
If NOVAGOLD does not exercise this option, the debt, valued at $158.9m as of 3 June 2025, will remain under its current terms.
NOVAGOLD president and CEO Greg Lang said: 'Today we completed the successful and strategic Donlin Gold transaction through a strong collaborative effort between NOVAGOLD, Paulson and Barrick since announcing the transaction on 22 April 2025.
'This constitutes a truly transformational transaction and an exciting new chapter for Donlin Gold as we advance one of the best and most jurisdictionally attractive gold development projects in the world. We look forward to providing updates on the key milestones in the coming months, starting with our revamped and determined efforts regarding the Feasibility Study workstream.'
In partnership with Paulson, a strategic review of the 2025 budget for Donlin Gold, amounting to $43m, is under way.
The review will cover an array of activities including updating the feasibility study and executing the 2025 drill programme.
Both partners are committed to exploring new resources and advancing technical work and engineering designs.
They will also support state permitting efforts, maintain permits, engage with government representatives, and collaborate on stakeholder outreach and investment initiatives in Alaska.
Donlin Gold has a high grade compared with other open-pit mines and projects, with a measured and indicated resource grade of 2.24 grams per tonne.
"Barrick Mining divests 50% stake in Donlin Gold project for $1bn" was originally created and published by Mining Technology, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
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Associated Press
a day ago
- Associated Press
Province of Ontario identifies Marathon Project as Shovel-Ready Strategic Mineral Project for Investment
TORONTO--(BUSINESS WIRE)--Jun 6, 2025-- Generation Mining Limited (TSX:GENM, OTCQB: GENMF) ( 'Gen Mining' or the 'Company' ) thanks the Province of Ontario for urging the federal government to invest in shovel-ready strategic mineral projects, including our Marathon Copper-Palladium Project (the 'Marathon Project'), that are critical to building a secure domestic supply chain. In connection with the ongoing dialogue between the Province of Ontario, the Government of Canada, and other provincial and territorial governments, on June 5, 2025, Ministers Stephen Lecce, Mike Harris, and Greg Rickford, and Associate Ministers Kevin Holland and Sam Oosterhoff of Ontario, issued an open letter to the federal Minister of Energy and Natural Resources, Tim Hodgson, identifying priority projects for Ontario, and remarked: 'Building on the investments in the Ring of Fire and the critical minerals supply chain we urge the federal government to invest in shovel-ready strategic mineral projects that are critical to building a secure, domestic supply chain including…Generation Mining's Marathon Project.' Jamie Levy, President and CEO, commented: 'I'd like to thank the Government of Ontario for their strong and ongoing support for the Marathon Project. We have maintained a very good relationship with the federal government throughout our environmental assessment and permitting process, and we continue to see strong indications of support from federal departments and agencies. Now that we are fully permitted for construction, the last hurdle is bringing together the necessary funding to build our mine and commence production. The Marathon Project promises to be a significant contributor to Canada's critical mineral supply chain, as well as the local, regional and national economies. We look forward to bringing this project to fruition with continued encouragement from the provincial and federal governments.' About the Company Gen Mining's focus is the development of the Marathon Project, a large undeveloped copper-palladium deposit in Northwestern Ontario. The Marathon Property covers a land package of approximately 26,000 hectares, or 260 square kilometers. Gen Mining is dedicated to fostering a greener future by promoting sustainability, empowering communities, and delivering value to our stakeholders. The Feasibility Study (the 'Technical Report') estimated a Net Present Value (using a 6% discount rate) of C$1.07 billion, an Internal Rate of Return of 28%, and a 1.9-year payback based on the 3-yr trailing average metal prices at the effective date of the Technical Report. Over the anticipated 13-year mine life, the Marathon Project is expected to produce 2,161,000 ounces of palladium, 532 million lbs of copper, 488,000 ounces of platinum, 160,000 ounces of gold and 3,051,000 ounces of silver in payable metals. For more information, please review the Feasibility Study filed under the Company's profile at or on the Company's website at Qualified Person The scientific and technical content of this news release has been reviewed and approved by Daniel Janusauskas, Technical Services Manager of Generation PGM Inc., a wholly-owned subsidiary of the Company, and a Qualified Person as defined by Canadian Securities Administrators National Instrument 43-101 Standards of Disclosure for Mineral Projects. Forward-Looking Information This news release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as 'forward-looking statements'). Forward-looking statements reflect current expectations or beliefs regarding future events or the Company's future performance. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as 'plans', 'expects', 'is expected', 'budget', 'scheduled', 'estimates', 'continues', 'forecasts', 'projects', 'predicts', 'intends', 'anticipates', 'targets' or 'believes', or variations of, or the negatives of, such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'should', 'might' or 'will' be taken, occur or be achieved, including statements relating to projected capital and operating costs (including the AISC); the timing and volume of payable metal production and revenues; and the economic analysis and results (including NPVs and payback periods).expand or alter potential mine pit designs; and the anticipated life of mine; mineral production estimates, payback period, and financial returns from the Marathon Project. Although the Company believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information. These include the timing for a construction decision; the progress of development at the Marathon Project, including progress of project expenditures and contracting processes, the Company's plans and expectations with respect to liquidity management, continued availability of capital and financing, the future prices of palladium, copper and other commodities, permitting timelines, exchange rates and currency fluctuations, increases in costs, requirements for additional capital, and the Company's decisions with respect to capital allocation, and the impact of COVID-19, inflation, global supply chain disruptions, global conflicts, including the wars in Ukraine and Israel, the project schedule for the Marathon Project, key inputs, staffing and contractors, continued availability of capital and financing, uncertainties involved in interpreting geological data and the accuracy of mineral reserve and resource estimates, environmental compliance and changes in environmental legislation and regulation, the Company's relationships with Indigenous communities, results from planned exploration and drilling activities, local access conditions for drilling, and general economic, market or business conditions, as well as those risk factors set out in the Company's annual information form for the year ended December 31, 2024, and in the continuous disclosure documents filed by the Company on SEDAR+ Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date or dates specified in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. For more information on the Company, investors are encouraged to review the Company's public filings on SEDAR+ View source version on CONTACT: For further information, please contact:Jamie Levy President and Chief Executive Officer (416) 640-2934 (O) (416) 567-2440 (M) [email protected]@ KEYWORD: NEVADA COLORADO IDAHO ARIZONA AFRICA AUSTRALIA/OCEANIA UNITED STATES CANADA NORTH AMERICA AUSTRALIA INDUSTRY KEYWORD: PUBLIC POLICY/GOVERNMENT NATURAL RESOURCES SUSTAINABILITY ENVIRONMENT STATE/LOCAL GREEN TECHNOLOGY OTHER NATURAL RESOURCES MINING/MINERALS SOURCE: Generation Mining Limited Copyright Business Wire 2025. PUB: 06/06/2025 07:00 AM/DISC: 06/06/2025 06:58 AM
Yahoo
2 days ago
- Yahoo
Thesis Gold Announces 2025 Exploration Program and Mobilizes Crews to Lawyers-Ranch Project
VANCOUVER, BC, June 5, 2025 /CNW/ - Thesis Gold Inc. ("Thesis" or the "Company") (TSXV: TAU) (WKN: A3EP87) (OTCQX: THSGF) is pleased to announce the mobilization of crews for the 2025 exploration season at its 100%-owned Lawyers-Ranch Project, located in British Columbia's prolific Toodoggone Mining District. The Company is advancing work toward a Pre-Feasibility Study (PFS), targeted for release in Q4-2025. This season's program will lay critical groundwork for future engineering studies, with geological efforts focused on defining the project's broader potential. Concurrently, engineering and environmental initiatives will continue to de-risk the project ahead of the Environmental Assessment (EA) process, anticipated to begin in the second half of 2025. 2025 Program Highlights Geological work: 10,000+ metres (m) of drilling will be split between resource expansion and testing undrilled prospects at Ranch. A portion of this season's drill program will be directed toward follow-up drilling at the Ring zone, a discovery made in 2024 (see November 13th, 2024 news release entitled "Thesis Gold makes new near-surface discovery at the Ring zone). Resource expansion drilling will target the Bingo and Steve zones, where the technical team sees significant upside to help unlock broader project-scale potential. Thesis will test several new targets for near-surface epithermal-style mineralization while also advancing its understanding of deeper porphyry potential, as highlighted by geological, geochemical, and geophysical anomalies. The Toodoggone District remains significantly underexplored for porphyry systems, and this season's program will include drilling at multiple high-potential porphyry centers identified across the project area. Thesis has contracted Simcoe Geoscience to conduct a 3D induced polarization (IP) survey. These data will be utilized in drill targeting later this season. During the latter part of the summer, field crews will mobilize to the Company's satellite claim blocks, the North and East claims, to build on a successful preliminary mapping and prospecting program from 2024. Engineering work: 5,000 m of multipurpose geotechnical drilling will provide preliminary information to allow the company to move swiftly from the 2025 PFS to further engineering studies in 2026. Drilling aimed at characterizing the structural integrity of rock both within the resource and in the conceptual pit walls will support important project design criteria including pit slopes, underground mine geotech, and estimates for mine/pit inflow. Additional metallurgical studies at both Ranch and Lawyers will help further classify rock comminution characteristics and optimize the processing flowsheet. Additional geochemical sampling will go towards further classifying the acid-base conditions of mineralized and waste material. Environmental studies: The required two years of baseline data collection at Lawyers is complete, with ongoing studies focused on monitoring and upkeep. Ranch is in the final months of baseline data collection. Biologists and hydrogeologists will be on-site this summer to continue characterizing the project's aquatic, terrestrial, geochemical, and meteorological components. Dr. Ewan Webster, President and CEO, commented, "We are excited to launch the 2025 exploration season at our Lawyers-Ranch Project. Building on the momentum of previous years, this season's comprehensive geological, engineering, and environmental programs are focused on continued project de-risking and value creation. With over 15,000 metres of drilling planned, our objectives are to expand known resources, test high-priority new epithermal and porphyry targets, and support long-term development. Concurrent engineering and environmental baseline work will continue to underpin future technical studies and advance the environmental assessment process. These efforts reflect our commitment to efficiently advancing the Lawyers-Ranch Project as a premier precious metals asset." The Lawyers-Ranch project offers significant exploration potential, with over 20 undrilled gold showings and numerous areas identified with promising geological, geochemical, and geophysical anomalies. This year, the Company plans to focus on anomalies within the Ranch project area that show promise for future discoveries (Figure 1). Throughout the winter, the technical team has been leveraging a robust geochemical and geophysical dataset to highlight a prospective corridor between Ring, Steve, Mandusa, and Golden Furlong at the Ranch area. The exploration potential in this region is twofold, as Thesis aims to leverage the opportunity for additional discoveries of shallow epithermal-style mineralization that have the potential to further unlock clues about the porphyry potential below the Ranch lithocap, with some deeper holes testing favorable structures and intersecting anomalies (Figure 2). Dr. Evan Orovan, Chief Geologist, commented, "I am excited to get to the Lawyers-Ranch Project this summer to contextualize this winter's desktop work with some boots-on-the-ground geology. Drawing from my global experience in porphyry-epithermal systems, I expect to learn a lot from this summer's exploration program and our new targets at Ranch." To date, Thesis has made significant progress in de-risking the Lawyers-Ranch Project. The upcoming PFS, targeted for release in Q4 2025, builds on the strong results of the Preliminary Economic Assessment (PEA) announced on September 5, 2024, which outlined an after-tax NPV5% of C$1.28 billion, a 35.2% IRR, and a 2.0-year payback period. Part of this summer's objective is to initiate key data collection to support a Feasibility-level engineering study, planned to commence immediately following the completion of the PFS. Environmental baseline studies are critical to understanding site-specific conditions prior to project development. These studies require a minimum of two years of data collection covering air, water, soil, and biological resources. Once complete, ongoing monitoring ensures that the established baseline can inform accurate environmental modeling and support the EA process expected to kick off in H2 2025. This summer, biologists will complete the final months of baseline data collection at Ranch and continue monitoring efforts at both Ranch and Lawyers. Quality Assurance and ControlSamples were analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO/IEC 17025:2017 accredited facility). The sampling program was undertaken by Company personnel under the direction of Andrew Turner, A secure chain of custody is maintained in transporting and storing of all samples. Gold was assayed using a fire assay with atomic emission spectrometry and gravimetric finish when required (+10 g/t Au). Drill intervals with visible gold were assayed using metallic screening. Rock chip samples from outcrop/bedrock are selective by nature and may not be representative of the mineralization hosted on the project. The technical content of this news release has been reviewed and approved by Michael Dufresne, a qualified person as defined by National Instrument 43-101. Thesis granted an aggregate of: (i) 500,000 stock options (the "Options") to employees; (ii) 750,000 deferred share units (the "DSUs") to directors; and (iii) 1,500,000 RSUs to directors and an officer with all awards governed by the Omnibus Long-Term Incentive Plan and each applicable award agreement. Each vested Option entitles the holder to purchase one common share of the Company (each, a "Common Share") at an exercise price of $1.20 per Common Share for five years from June 4, 2025 (the "Grant Date"). Half the Options vest on the first anniversary of the Grant Date, with the remaining vesting on the second anniversary of the Grant Date. Each vested RSU entitles the holder to receive one Common Share on settlement. The RSUs vest upon the earlier of the termination date of the holder and ten years. Each vested DSU entitles the holder to receive one Common Share upon settlement. The DSUs vest and settle on the DSU holder's termination date. On behalf of the Board of DirectorsThesis Gold Inc. "Ewan Webster" Ewan Webster Ph.D., CEO, and Director About Thesis Gold Inc. Thesis Gold Inc. is a resource development company focused on unlocking the potential of its 100% owned Lawyers-Ranch Project, located in British Columbia's prolific Toodoggone Mining District. The recently completed Preliminary Economic Assessment (PEA) highlights robust project economics, including a 35.2% after-tax IRR and an after-tax NPV5% of C$1.28 billion, demonstrating the potential for significant value creation. The Company's 2025 roadmap includes a robust exploration and drill program, delivery of a Pre-Feasibility Study on the combined Lawyers-Ranch Project, and commencement of the Environmental Impact Assessment Process. Through these strategic moves, Thesis Gold intends to elevate the Lawyers-Ranch Project to the forefront of global precious metals ventures. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release. Cautionary Statement Regarding Forward-Looking Information This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the use of proceeds from the Company's recently completed financings and the future plans or prospects of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market, and economic risks, uncertainties, and contingencies that may cause actual results, performance, or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis, which is available on the Company's profile on SEDAR+ at The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. View original content to download multimedia: SOURCE Thesis Gold Inc. 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Yahoo
3 days ago
- Yahoo
Next Gold Powerhouse Emerges as Prices Break Records
NetworkNewsWire Editorial Coverage NEW YORK, June 4, 2025 /CNW/ -- As gold surges to record highs above $3,000+ per ounce in May 2025 — outpacing the S&P 500, NASDAQ and even bitcoin—Wall Street's focus is shifting. With U.S. debt-to-GDP now exceeding 120% and real interest rates still historically negative, gold has reaffirmed its role as the market's most reliable hedge. But for institutional investors, bullion and ETFs aren't enough anymore. What they want now is leverage, scalability and cash flow. That's why the spotlight is turning toward a new class of near-term gold producers: companies with clean balance sheets, high internal rates of return (IRR) and operational models designed to scale and generate recurring revenue — companies like ESGold Corp. (CSE: ESAU) (OTCQB: ESAUF) (Profile). With central banks buying more gold than ever and financial markets hungry for sustainable exposure to the yellow metal, the next wave of institutional capital is hunting for precisely the kind of scalable, cash-flow-driven opportunity that ESGold offers. With its focus on offering investors a viable pathway to include gold in their portfolios, ESGold joins an elite group of companies — including BHP Group Limited (NYSE: BHP), Barrick Mining Corporation (NYSE: B) (TSX: ABX), Agnico Eagle Mines (NYSE: AEM) and Wheaton Precious Metals (NYSE: WPM) — that are committed to being leaders in the mining space. ESGold is based on a replicable growth model, built for scale and designed to overcome the high failure rate among junior miners. With funding in place, the company has begun on-site construction and assembly at Montauban. ESGold remains laser focused on achieving its dual-track strategy: near-term gold and silver production paired with district-scale exploration. Amid this forward momentum, ESGold remains constantly committed to clean-processing initiatives. Click here to view the custom infographic of the ESGold editorial. A Clear Path to Near-Term Production "The best place to go if your faith in the [U.S.] dollar diminishes is gold as a reserve currency," stated billionaire hedge fund manager John Paulson ( Forecasting that central bank gold buying and global trade tensions are likely to push bullion prices to near $5,000 an ounce by 2028, Paulson is confident that "gold will increase its position in the world." Paulson is not alone in his thinking. Historically a popular asset that investors often use as a hedge against various economic and market risks, gold continues to be a viable option for savvy investors in today's fragile economic setting. However, many retail and institutional investors are looking past large caps and ETFs, turning instead to permitted, low-capex production stories with built-in scalability. The problem? The gold mining space is inundated with exploration and development stories, but most are stuck in endless exploration or bloated development cycles. Wall Street is tired of the "drill and pray" model; smart investors are hunting for permitted projects (derisked), visible production timelines, clean capital structures, tight floats and replicable growth models. Enter ESGold Corporation, a preproduction resource company on a clear path to near-term gold and silver production. ESGold represents the very opportunity that gold-focused minds want. The company is based on a replicable growth model, built for scale and designed to overcome the high failure rate among junior miners. The company sets itself apart by adopting a business model focused on revitalizing underutilized historic mining sites with existing infrastructure. This strategy translated into reduced capital expenditure by leveraging existing infrastructure and minimizing the need for substantial new investments, as well as lower operational risks as established sites often come with known geological data, reducing exploration more than 500,000 legacy mine sites in the United States and 10,000-plus mines in Canada ( there are more than enough opportunities for growth and expansion. ESGold is targeting only the most economically viable and strategically located projects — those with existing infrastructure, high-value tailings or clear pathways to near-term production. This selective, data-driven approach allows ESGold to scale responsibly, deploying capital into projects that offer the highest potential returns with the lowest development risk. Fully Funded, Fully Permitted Earlier this year, ESGold closed on C$3.45 million financing earmarked to advance its Montauban Project toward production ( This successful closing marked a pivotal point for the company, providing the necessary capital to initiate mill circuit construction and mobilize the final phase of development at Montauban. Located in Quebec, Montauban is a past-producing gold-silver mine with surface and underground mineralization and more than 900,000 tons of historical tailings. Unlike many juniors still chasing permits and timelines, ESGold and its Montauban Project is fully permitted for gold and silver production. This derisks the path to revenue, placing the company among the few in the junior space with near-term operational visibility. With the regulatory groundwork already complete, delays, dilutions and permitting risks are reduced, and ESGold can move toward production. "This financing represents a major inflection point for the company," said ESGold president Brad Kitchen, who noted that the financing supports the company's broader strategy to become one of Canada's next gold and silver mining producers through near-term production and long-term district-scale exploration. "With construction and processing circuit assembly now advancing, we are delivering on our commitment to build a scalable, profitable mining operation in one of the best jurisdictions in the world." Moving Decisively Forward With much of the funding in place, ESGold has already begun on-site construction and assembly at Montauban, a key milestone that moves the company into the execution phase of its accelerated production strategy, targeting near-term cash flow within the next six months ( The construction and mobilization stage is expected to last about a month. According to the company, this is the final major phase of infrastructure development before production begins, transforming Montauban from a legacy mine site into one of Canada's next active gold and silver operations. "This is the moment we've been working toward — breaking ground and moving decisively toward gold and silver production," said Kitchen. "Our team, contractors and stakeholders are aligned and energized to deliver on our strategy. We are building a clean, scalable and modern operation that reflects the new era of mining in Quebec. With production targeted for Q4, Montauban is on track to become a model for sustainable redevelopment of legacy mines." At current gold and silver prices, this operation is expected to deliver robust margins, giving ESGold the rare opportunity to self-fund exploration, acquisitions and growth while protecting shareholder equity. Achieving Dual-Track Strategy Following completion of the construction and assembly phase, ESGold plans to immediately advance into the next phase of mill circuit installation and commissioning. With permits in hand, infrastructure in place and funding secured, ESGold remains laser focused on achieving its dual-track strategy: near-term gold and silver production paired with district-scale exploration. ESGold will begin with reprocessing tailings. According to the company, the Montauban property presents a unique opportunity to transform legacy tailings into valuable resources using modern milling techniques while also restoring the environment ( The company plans to start at the Anacon Lead 1 tailings site, which will be reprocessed and fully remediated as part of ESGold's commitment to responsible mining. In addition, the company is evaluating four other tailings sites as potential sources of modern mill feed, maximizing resource efficiency and sustainability. ESGold's vision extends beyond reprocessing. The company believes that underlying hard-rock mineralization, previously mined, holds untapped potential. Through modern systematic exploration, the company plans to build a long-term resource base, ensuring a continuous supply of mill feed after tailings have been fully processed. ESGold projects initially processing 150,000 tonnes of ore annually, with expectations of scaling up to 300,000 tonnes. With that in mind, the company recently completed an internal review of its 2015 VTEM survey data and historic drill database, which confirms the presence of a large-scale geophysical anomaly in the southwestern portion of the Montauban project ( This area has not been drill tested, and ESGold has identified the zone as a high-priority target for future exploration. To validate this potential, ESGold is also finalizing a comprehensive 3D geological model, the first in the project's 110-year history. This model will integrate 2015 VTEM and TMI data; more than 950 historical drill holes and 18,000-plus Au, Ag and Zn assays; structural interpretation from geophysical and geological mapping; and data from an ANT (Ambient Noise Tomography) survey data. The ANT survey, which has been tested to 800 meters in imaging depth, is expected to provide key insight in determining the true scale and continuity of the southwestern anomaly, as well as additional zones of interest. "The southwest anomaly represents a technically interesting and previously untested zone at Montauban," said Kitchen. "While our primary focus remains on advancing toward near-term production, the evolving geophysical model and recent land expansion are beginning to reveal a much broader opportunity. With a growing dataset, disciplined exploration approach and a pathway to self-funded discovery, ESGold is well positioned to pursue both production and the longer-term potential of the Montauban system." Because ESGold's initial revenue is coming from tailings reprocessing, exploration isn't the only driver of valuation, it's the upside. That means the company can grow its resource base without being forced to finance through dilution at every drill stage, a rarity in the junior market. Committed to Sustainability Amid this forward momentum, ESGold remains constantly committed to clean-processing initiatives. The company recently reported results of testing that assessed the applicability of the Dundee Sustainable Technologies CLEVR Process(TM), a noncyanide, environmentally friendly, gold-recovery technology, on legacy tailings material from the Montauban Project ( The technology is designed to enhance recovery rates and minimize environmental impact, an approach that is solidly aligned with Quebec's strong support for mining innovation and sustainability. It also positions the company to benefit from government grants for clean extraction and remediation. Results of the testing indicate high gold-recovery potential using the CLEVR Process, with gold recovery of more than 90.9%, following an oxidation pretreatment process. The company noted that the results provide preliminary insights into the applicability of this technology at the Montauban Project. The company anticipates further studies to confirm economic feasibility. "We don't just talk about sustainability; we aggressively pursue it," Kitchen noted. "ESGold is advancing a cleaner future for mining by collaborating with industry leaders and academic institutions to transform extraction technologies. Our initiatives aim to balance environmental stewardship with economic returns, setting a new standard for mining innovation." Redefining the Future ES Gold joins an array of forward-thinking companies in the mining space dedicated to proving that sustainability and shareholder performance are not mutually exclusive. These industry leaders are integrating environmental stewardship with strong financial policies, innovative technology and savvy business strategies to set a new standard for the mining sector. BHP Group Limited (NYSE: BHP) just announced that it has established its first industry AI Hub ( The company noted that the hub is located in Singapore and is designed "to accelerate digital transformation and AI adoption in the mining and resources sector." The company said the hub will "focus on solving BHP enterprise-wide challenges using AI technologies to improve safety and lift productivity. Once established . . . the hub of BHP AI specialists will look at further integration of data-driven decisions, intelligence and automation into the company's core operations." Barrick Mining Corporation (NYSE:B) (TSX:ABX), a sector-leading gold and copper producer, just released its 2024 sustainability report, which reinforces the company's strong position in the mining space "by driving economic growth, enabling social progress and protecting the environment" ( Titled "Beyond the Horizon," the report provides an overview of the company's transformation from its 2019 merger "to becoming a leader in responsible mining, underscoring its commitment to sustainability-driven growth, community empowerment and environmental stewardship, focused on long-term value creation and measurable outcomes." Agnico Eagle Mines (NYSE:AEM), a Canadia-based and led senior gold mining company and the third largest gold producer in the world, recently completed the acquisition of 100% of the outstanding common shares of O3 Mining "pursuant to the amalgamation of O3 Mining and Agnico Eagle Abitibi Acquisition Corp., a wholly owned subsidiary of Agnico Eagle, making O3 Mining a wholly owned subsidiary of Agnico Eagle" ( O3 Mining is a gold explorer and mine developer in Québec, adjacent to Agnico Eagle's Canadian Malartic mine. Its principal asset is the Marban Alliance project, which the company has advanced over the last five years to the cusp of its next stage of development, with the expectation that the project will deliver long-term benefits to stakeholders ( Wheaton Precious Metals (NYSE: WPM), one of the world's premier precious metals streaming company, was named to this year's Corporate Knights' Global 100 Most Sustainable Corporations list ( The list recognizes companies that are focused on responsible behavior and sustainable revenue generation. "We are proud to be recognized for our commitment to excellence in ESG practices both in our own offices and alongside our mining partners, who have a strong track record in responsible mining," said Randy Smallwood, Wheaton president and CEO. "We have an incredible team at Wheaton and are advancing our work with mining partners to deliver the commodities our society needs." As global demand for critical resources, particularly gold, continues to rise, the need for responsible, effective mining practices has never been greater. The companies that successfully balance sustainability with strong shareholder returns are not only meeting today's challenges—they're shaping the future of the industry. For further information about ESGold Corporation, please visit ESGold Profile About NetworkNewsWire NetworkNewsWire ("NNW") is a specialized communications platform with a focus on financial news and content distribution for private and public companies and the investment community. 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