ESGold Accelerates Montauban Buildout With Parallel Drilling, Geophysics and Mill Development

An update from Secova Metals ( (TSE:ESAU) ) is now available.

ESGold Corp. is advancing its Montauban gold-silver project in Québec on several fronts, combining exploration drilling and district-scale geophysics with parallel mill development. The company aims to leverage modern geological modeling and processing infrastructure to better define near-surface and deeper mineralization while positioning the asset for operations in 2026.

Drill permits have been submitted in Québec, with a targeted start to a new drill program in May 2026 that will test high-priority zones using modern techniques and support future resource estimations. In parallel, an expanded 70 km² Ambient Noise Tomography survey is nearing completion and will feed into an updated 3D geological model as all major mill equipment is secured, fabricated, and delivered, marking key milestones toward mill buildout and commissioning.

The expanded geophysical program follows an initial survey that indicated mineralized structures extending to about 900 metres depth and over at least two kilometres of strike, suggesting the system may be larger than historically recognized. By simultaneously progressing exploration, drilling, and mill construction, ESGold is moving from interpretation to execution at Montauban, potentially enhancing the project’s scale, de-risking development timelines, and strengthening its position in the gold-silver sector ahead of its 2026 operational targets.

The most recent analyst rating on (TSE:ESAU) stock is a Hold with a C$0.51 price target. To see the full list of analyst forecasts on Secova Metals stock, see the TSE:ESAU Stock Forecast page.

Spark’s Take on ESAU Stock

According to Spark, TipRanks’ AI Analyst, ESAU is a Neutral.

The score is held down primarily by very weak financial performance (zero revenue, widening losses, and significant ongoing cash burn). Technical indicators are mixed and provide only modest support, while valuation is difficult to justify with negative earnings and no dividend yield.

To see Spark’s full report on ESAU stock, click here.

More about Secova Metals

ESGold Corp. is a Canadian mineral exploration and development company focused on advancing the Montauban gold-silver project in Québec. The company is building an integrated operation that combines modern exploration techniques with on-site processing infrastructure, targeting near-term production and resource growth within a historic mining district.

Average Trading Volume: 243,211

Technical Sentiment Signal: Sell

Current Market Cap: C$52.85M

For detailed information about ESAU stock, go to TipRanks’ Stock Analysis page.