ESGold Identifies Rhodonite at Montauban, a Key Indicator Mineral of Broken Hill-type High-Grade Lead-Zinc-Silver Deposits

Rhea-AI Summary

ESGold Corp (OTCQB: SEKZF) has announced the discovery of rhodonite, a manganese silicate mineral, at its Montauban Project. This finding is significant as rhodonite is a key indicator mineral associated with Broken Hill-type (BHT) high-grade lead-zinc-silver deposits.

The mineral's presence suggests potential for previously unrecognized high-grade mineralization at depth, as rhodonite typically forms under high-temperature, low-pressure metamorphic conditions and is often found alongside valuable metals like lead, zinc, silver, and gold. Historical exploration at Montauban primarily tested depths of less than 50 meters, leaving deeper zones unexplored.

Current exploration initiatives include:

• Ongoing Ambient Noise Tomography (ANT) survey for 3D subsurface imaging
• Follow-up sampling and structural analysis
• Refinement of drill targets to test deeper mineralized zones

Additionally, the company has completed a debt settlement of $126,578.89 through the issuance of 778,947 common shares at $0.1625 per share.

Vancouver, British Columbia--(Newsfile Corp. - March 20, 2025) - ESGold Corp. (CSE: ESAU) (OTCQB: SEKZF) (FSE: Z7D) ("ESGold" or the "Company") is pleased to announce the identification of rhodonite, a manganese silicate mineral (MnSiO₃), at its Montauban Project. The discovery was made as part of a sampling program around the historical Montauban deposit and may hold geological significance, as it aligns Montauban with the signature mineralogy of Broken Hill-type (BHT) deposits.

Rhodonite: A Known Marker at Some High-Grade Sulphide Deposits

Rhodonite is a manganese-rich mineral that forms under high-temperature, low-pressure metamorphic conditions. While it is not a primary ore mineral, its presence is often indicative of structural deformation and remobilization, processes that can enhance the concentration of valuable metals such as lead, zinc, silver, and gold.

In BHT deposits, rhodonite is found in close association with argentiferous galena (silver-rich lead sulfide), sphalerite (zinc sulfide), and pyrrhotite (iron sulfide). Its occurrence at Montauban suggests that similar geological processes may have influenced the mineralization underlying the property, reinforcing the potential for previously unrecognized high-grade mineralization at depth.

Geological Context at Montauban

• Rhodonite is rare in typical volcanogenic massive sulfide (VMS) deposits but is a distinguishing feature of some high-grade lead-zinc-silver systems.
• The mineral is typically associated with manganese enrichment, which is not a dominant characteristic of most VMS deposits but is present in BHT systems.
• The presence of rhodonite indicates that deformation and remobilization may have been contributing factors to the mineralization model at Montauban, and that historical exploration may not have fully tested the deposit's potential.
• Current exploration programs, including the ongoing Ambient Noise Tomography (ANT) survey, aim to model the subsurface mineralized structures and define potential high-priority drill targets.

Implications for Ongoing Exploration

The discovery of rhodonite at Montauban supports the hypothesis that the deposit may host deeper, high-grade zones beyond the historically mined near-surface material. Given that historical drill programs primarily tested depths of less than 50 m, the ongoing ANT survey will play a crucial role in determining the full extent of the mineralized system.

"The identification of rhodonite at Montauban provides important geological context for our exploration efforts," said André Gauthier, P.Geo., "In many high-grade lead-zinc-silver deposits, including Broken Hill, rhodonite has been recognized as a key indicator mineral associated with structurally controlled mineralization. This finding strengthens our understanding of Montauban's geology and will help guide future exploration efforts, particularly in targeting deeper, untested zones."

The Company would like to note that mineralogical observations are preliminary, and the interpretations based on them are conceptual. There is no certainty that further exploration or detailed studies will substantiate these preliminary observations or that the project's geological characteristics or mineralization will be economically viable.

Next Steps

• Completion of the ANT Survey – Results from the 3D subsurface imaging program will provide insight into the scale of mineralized structures at Montauban.
• Follow-Up Sampling & Structural Analysis – Additional sampling and structural mapping will further define the extent of rhodonite occurrences and their association with economic mineralization.
• Drill Target Refinement – Pending the results of the ANT survey and additional geochemical work, ESGold will refine its drill targeting to test deeper mineralized zones.

The identification of rhodonite at Montauban marks an important step in refining the geological model of the deposit. The Company continues to integrate modern exploration technologies to unlock the full potential of the project, leveraging systematic geophysical and geochemical analysis.

Qualified Person Statement

The technical information in this news release has been reviewed and approved by John Langton, M.Sc., P. Geo., a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

Other Corporate News

Further to the Company's news release dated January 31, 2025, on February 11, 2025 the Company has closed its previously announced debt settlement totaling $126,578.89 owed to certain creditors of the Company in consideration for the issuance of an aggregate of 778,947 common shares in the capital of the Corporation (each, a "Settlement Share") at a deemed price of $0.1625 per Settlement Share.

All Settlement Shares are subject to a statutory hold period of four months plus a day from the date of issuance of the Settlement Shares in accordance with applicable securities legislation.

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities.

About ESGold Corp.

ESGold Corp. (CSE: ESAU) (OTCQB: SEKZF) (FSE: Z7D) is a fully permitted, pre-production resource company at the forefront of clean mining and exploration innovation. With proven expertise in Quebec, the Company is advancing its projects toward production and feasibility while delivering long-term value through sustainable resource recovery and exploration. ESGold's flagship Montauban property, located 80 kilometres west of Quebec City, serves as a model for responsible mining practices, combining near-term production with exploration potential.

For more information, please contact ESGold Corp. at +1-888-673-1231 or visit esgold.com for additional resources, including a French version of this press release, past news releases, a 3D model of the Montauban processing plant, media interviews, and opinion-editorial pieces.

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On behalf of the Board of Directors,

ESGold Corp.
"Brad Kitchen"
President, Director
Tel: +1-888-370-1059
Email: info@esgold.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/245414

FAQ

What is the significance of finding rhodonite at ESGold's Montauban Project (SEKZF)?

Rhodonite's discovery indicates potential for high-grade lead-zinc-silver mineralization similar to Broken Hill-type deposits, suggesting valuable untapped resources at deeper levels of the Montauban Project.

How deep were the historical drilling programs at SEKZF's Montauban site?

Historical drill programs at the Montauban site primarily tested depths of less than 50 meters, leaving deeper zones unexplored.

What exploration methods is SEKZF currently using at Montauban?

ESGold is conducting an Ambient Noise Tomography (ANT) survey for 3D subsurface imaging, along with sampling programs and structural analysis.

What was the value of ESGold's (SEKZF) recent debt settlement in February 2025?

ESGold settled debts totaling $126,578.89 by issuing 778,947 common shares at $0.1625 per share.

What are the next exploration steps for SEKZF at the Montauban Project?

Next steps include completing the ANT survey, conducting follow-up sampling and structural analysis, and refining drill targets to test deeper mineralized zones.