ESGold Corp. Announces C$1.5 Million Joint Venture for Gold and Silver Project in Colombia
TL;DR
ESGold secures a strategic advantage with a $1.5M investment for 50% of a permitted Colombian gold project, enabling rapid expansion alongside its Quebec operations.
ESGold's joint venture with Planta Magdalena involves a structured $1.5M investment for 50% ownership, with an option to acquire full control within 12 months.
This partnership advances sustainable mining by utilizing modern technology to responsibly recover resources from legacy mine waste in Colombia.
Modern mining technology unlocks millions in gold from historical waste sites, showcasing innovation in resource recovery and exploration.
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ESGold Corp. (CSE: ESAU) (OTCQB: ESAUF) has been featured in a NetworkNewsAudio release highlighting the company's binding memorandum of understanding with Planta Magdalena S.A.S. for a fully permitted gold and silver project in Colombia's Department of Bolívar. The agreement represents a strategic expansion for ESGold, providing the company with a rare near-term production opportunity alongside its existing Montauban project in Quebec.
Under the terms of the joint venture, ESGold will invest C$1.5 million to acquire a 50% interest in the Colombian project, with an option to purchase the remaining 50% within 12 months at fair market value. The project's existing production permits significantly reduce development timelines, positioning ESGold to potentially establish a second operational mine in the near future. This development is particularly significant given the project's location in Colombia's mineral-rich Bolívar department, known for its gold mining potential.
The joint venture aligns with ESGold's corporate strategy of pursuing sustainable resource recovery and exploration opportunities. As a fully permitted, preproduction resource company at the forefront of clean mining innovation, ESGold brings proven expertise from its Quebec operations to this new Colombian venture. The company's approach combines environmental responsibility with efficient resource extraction, as demonstrated at its flagship Montauban property located 80 kilometers west of Quebec City.
Investors and stakeholders can access additional information through the company's newsroom at https://nnw.fm/ESAUF. The NetworkNewsWire platform, which published the original announcement, provides specialized financial news and content distribution services as part of the Dynamic Brand Portfolio. More details about NetworkNewsWire's services are available at https://www.NetworkNewsWire.com.
This Colombian joint venture represents an important diversification move for ESGold, expanding its operational footprint beyond Canada into South America's significant gold mining sector. The immediate availability of production permits reduces regulatory hurdles and accelerates potential revenue generation, making this a strategically timed expansion for the company and its shareholders.
Curated from InvestorBrandNetwork (IBN)
