ESGold Corp. (CSE: ESAU | OTCQB: ESAUF | FSE: Z7D) has announced the completion of its expanded Phase 2 Ambient Noise Tomography survey and an updated property-scale three-dimensional geological model for its Montauban Gold-Silver Project in Québec. The integrated model combines 1,637 drillholes, 1,707 multi-element samples, structural geology, and geophysics across approximately 70 km², materially broadening the company's exploration framework beyond the historic mine area. Investors may be watching closely as the work identifies priority southern and eastern corridors and an under-tested northern domain for potential future drill testing.

Key Points

  • ESGold Corp. (CSE: ESAU | OTCQB: ESAUF | FSE: Z7D) is a pre-production mining company advancing the Montauban Gold-Silver Project in Québec
  • The company completed its ANT-2 survey using 200 three-component geophone stations recording for 32 days, expanding geophysical coverage northward and providing geological constraint from approximately 86 metres to about 1.2 kilometres below surface
  • The consolidated database now includes 1,637 drillholes and 1,707 regional multi-element ICP samples across approximately 70 km²
  • Investors should watch for database validation, target ranking, and targeted drilling as outlined in the company's three-phase exploration planning framework

ANT-2 Survey Scope and Methodology at Montauban

CAUR Technologies Inc. completed the ANT-2 survey across the northern portion of the Montauban Project, deploying 200 three-component geophone stations at an average spacing of approximately 400 to 600 metres. Stations continuously recorded ambient seismic noise for 32 days between March 19 and April 19, 2026, generating a three-dimensional shear-wave velocity model evaluated across 1,251 grid nodes. The ANT method is fully passive, requiring no active seismic source. The resulting model identifies broad near-horizontal low-velocity layers and near-vertical low-velocity corridors trending approximately 020°, which have been integrated into the property-scale 3D geological model.

Integrated 3D Model Reframes Montauban as a Broader VMS System

Geomatic World Inc. developed the updated model using Leapfrog Geo, integrating the ANT-2 interpretation with 1,637 drillholes — including 90 additional historical holes recently incorporated — along with 1,707 regional multi-element ICP samples, lithology, historical assays, structural interpretation, and regional mapping. The disclosure states the integrated interpretation supports the concept of Montauban being a gold- and silver-rich volcanogenic massive sulphide system where structural controls strongly influenced current mineralised geometry. The company emphasises the model is an interpretive exploration tool and does not constitute a mineral resource estimate.

Southern, Eastern, and Northern Corridors Identified as Priority Targets

The updated model has highlighted three priority exploration areas. To the south, favourable geological units and modelled mineralised shells can now be evaluated beyond the historic workings. To the east and southeast, geological units associated with known Montauban mineralisation can be traced into less-explored areas supported by structural trends and geochemical responses. The northern ANT-2 area is described as comparatively under-tested. The release states that direct continuity of known high-grade mineralised bodies into the northern area has not been demonstrated, and exploration targets remain geological hypotheses requiring validation through mapping, geochemistry, and drilling.

Three-Phase Exploration Framework Guides 2027 Planning

ESGold outlined a three-phase approach to advance Montauban exploration: Phase 1 involves formal database validation and target refinement; Phase 2 focuses on property-scale target ranking using coincident geological, structural, geochemical, and geophysical criteria; and Phase 3 involves targeted drilling of highest-priority geological hypotheses, beginning with southern and eastern corridor opportunities. The integrated 3D model is described as a dynamic platform that will be updated as new data becomes available. The scientific and technical content was reviewed and approved by Merouane Rachidi, Ph.D., P.Geo., an independent Qualified Person under National Instrument 43-101.