ESGold Corp. (CSE: ESAU) (OTCQB: ESAUF) has commenced its 2026 surface diamond drilling program at the Montauban Project, located approximately 120 kilometres west of Québec City, Québec. The program is designed to total about 5,000 metres across 29 proposed drill holes, with the primary aim of validating previously identified mineralization in the historic Montauban mine area, testing continuity between historical drill holes and mineralized panels, and investigating potential extensions into insufficiently tested areas.
The company stated that the new drilling, geological, and analytical data will contribute to its evolving three-dimensional geological model and help determine what additional work may be required to support a current mineral resource estimate under National Instrument 43-101. ESGold cautioned that historical estimates referenced in previous technical reports should not be treated as current mineral resources or reserves.
The Montauban Project is ESGold's flagship gold-silver asset, and the company is advancing it with a dual-track strategy aimed at generating cash flow from production while continuing exploration to uncover new discoveries. The project is currently under construction, with production anticipated in 2026. ESGold is fully permitted and funded for this phase of development.
This drilling program marks a significant step toward upgrading the project's resource base, which could enhance the economic viability of the mine. By validating and potentially extending known mineralization, ESGold aims to strengthen investor confidence and lay the groundwork for a formal resource statement that meets current regulatory standards.
The results of this program are expected to inform the company's next steps, including whether further drilling is needed to expand the resource or if the data are sufficient to proceed with a mineral resource estimate. The company has not provided a timeline for when results will be released, but the initiation of the program signals progress in its development plans.
For more details on the drilling program, visit the full press release at https://ibn.fm/rQLw7. Investors can also follow ESGold's latest news and updates at https://ibn.fm/ESAUF.
