Colombia's Hidden Gold: How Modern Tech Can Unlock Millions from Legacy Mine Waste

NetworkNewsWire Editorial Coverage

NEW YORK, Aug. 25, 2025 /PRNewswire/ -- In one of South America's most prolific gold belts, centuries of mining have left behind massive tailings piles, discarded material that, despite being overlooked for generations, still contains significant quantities of gold and silver. These legacy remnants represent both an environmental challenge and an untapped resource, as modern recovery techniques reveal just how much value remains locked within them. ESGold Corp. (CSE: ESAU) (OTCQB: ESAUF) (Profile) is at the forefront of addressing this opportunity in Colombia, where its newly announced, fully permitted joint venture in Bolívar highlights how advanced processing technology can transform mine waste into scalable, high-margin production. By mining responsibly, ESGold is not only unlocking hidden wealth but also turning environmental liabilities into sustainable growth. ESGold joins an impressive group of mineral miners — including Newmont Corp. (NYSE: NEM), Barrick Mining Corporation (NYSE: B),  Franco-Nevada Corp. (NYSE: FNV) and Agnico Eagle Mines Ltd. (NYSE: AEM) — that are strengthening their positions in the global mining sector through strategic planning and the use of responsible, innovative technology.

• ESGold Corp.'s joint venture with Planta Magdalena S.A.S. in Colombia represents the company's strategic planning in the mining-rich country.
• The sampling program conducted across the Bolívar tailings sector has yielded results that underscore the significant value potential of this strategic partnership.
• The inefficient recovery rate creates a unique opportunity for modern processing technology to capture precious metals that have been historically left behind.
• The Bolívar JV marks ESGold's first expansion of its scalable tailings to cash flow model beyond Québec, a key test case for replicating the approach across multiple jurisdictions.
• ESGold's approach to tailings reprocessing delivers tangible environmental benefits that extend far beyond traditional mining operations.

Click here to view the custom infographic of the ESGold Corp. editorial.

Colombia stands as a mineral-rich powerhouse in South America, with gold and silver embedded within its vibrant geological formations. In 2024, the country produced an estimated 60 metric tons of gold exports, and between January and November generated approximately $3.55 billion in revenue. Mining has long been a cornerstone of Colombia's economy, and gold remains one of its most valuable natural exports, with regions such as Antioquia, Chocó, Bolívar and Córdoba serving as leading production hubs.

Beyond active operations, Colombia harbors vast reserves locked in its legacy tailings, accumulations of waste from centuries of mineral extraction that still retain appreciable quantities of precious metals. Recent research shows how modern reprocessing technologies, particularly hydrometallurgical techniques, can recover critical and valuable metals from mine tailings while reducing environmental risks.

This convergence of resource wealth and modern recovery technology presents a unique opportunity for Colombia. Legacy mine waste, once considered a liability, can now be transformed into a resource that fuels new revenue streams, mitigates environmental damage and supports the circular economy.

At the forefront of this evolving opportunity is ESGold Corp., a clean gold and silver development company that prioritizes a tailings-first mining approach. While its flagship projects are based in Quebec, ESGold has expressed its commitment to applying its methodology across the Americas, including Colombia. By reprocessing mine tailings with advanced, environmentally responsible technologies, the company aims to unlock near-term, high-margin production while reducing ecological impact, demonstrating how innovation and responsibility can align in the next chapter of mining development.

ESGold Corp.'s recent announcement about a joint venture with Planta Magdalena S.A.S. in Colombia represents the company's strategic planning in the mining-rich country. The company has entered into a binding memorandum of understanding with Planta Magdalena for the development of a fully permitted gold and silver project in Colombia's Department of Bolívar.

The strategic partnership will see ESGold contribute C$1.5 million for a 50% joint venture interest, with a first right of refusal to purchase the remaining 50% within 12 months at fair market value determined by independent third-party appraisal. Most significantly, Planta already holds permits to commence production, giving ESGold a rare, near-term path to add a second operation alongside its Quebec-based Montauban project.

The Department of Bolívar represents one of Colombia's most prolific gold-producing regions, where artisanal and small-scale miners collectively process an estimated 300,000 tonnes of ore annually, producing approximately 128,000 ounces of gold. Subject to completing definitive agreements and verification processes, ESGold aims to commission the Bolívar operation with a target startup in 2026. The company plans to conduct qualified person-supervised site visits in early September for systematic tailings sampling and metallurgical recovery testing, while finalizing bulk-sample concentrate tests at its Montauban facilities.

The initial due-diligence sampling program conducted across the Bolívar tailings sector has yielded remarkably encouraging results that underscore the significant value potential of this strategic partnership. According to the announcement, 27 tailings samples were collected and submitted to ACTLABS for analysis, with results averaging approximately 5.52 grams per tonne gold.

The sampling program revealed that 8 of the 27 samples assayed above 5 g/t Au, demonstrating consistent mineralization across the tailings area, with several standout results including sample SS806 at 42.683 g/t Au, SS816 at 19.284 g/t Au, and SS817 at 18.332 g/t Au. Beyond the impressive gold values, the sampling program also revealed substantial silver potential, with multiple samples returning notable silver values exceeding 190 g/t Ag.

These preliminary results, while selective and not necessarily representative of the entire tailings inventory, provide compelling evidence of the precious metals content that has been historically left behind by conventional processing methods in the region. ESGold emphasizes that these are preliminary, selective samples and may not be representative of the entire project, but they serve as encouraging indicators for the comprehensive evaluation program now underway.

The company is currently finalizing bulk-sample concentrate tests to confirm recovery rates for the proposed mining circuit, with testing being completed at ESGold's Montauban facilities and confirmed assays at ACTLABS in Québec on an expedited basis. This systematic approach to metallurgical testing will provide crucial data for optimizing processing parameters and confirming the economic viability of the tailings reprocessing operation, building upon the encouraging initial assay results.

Bolívar represents one of Colombia's most historically significant and currently productive gold-mining regions, where centuries of mining tradition continue to generate substantial precious metals output through predominantly artisanal and small-scale operations. However, much of this material is processed using rudimentary mercury amalgamation methods that typically recover less than half of the contained gold and silver, leaving substantial precious metals content unrecovered in the resulting tailings.

This inefficient recovery rate creates a unique opportunity for modern processing technology to capture precious metals that have been historically left behind, effectively transforming what are currently considered waste materials into valuable feedstock for production. The long-standing reliance on outdated processing methods in the region means that decades of tailings accumulation contain significant precious metals content that can be economically recovered using contemporary, mercury-free processing techniques. ESGold's modern processing approach can materially improve recovery rates while eliminating the environmental harm associated with mercury-based extraction methods.

The combination of large continuous tailings inventory, established mining infrastructure and a skilled local workforce creates ideal conditions for implementing modern recovery technology that can unlock value from materials previously considered waste products. CEO Gordon Robb noted that the region's established mining infrastructure and skilled local workforce create conditions for launching operations with near-term potential, positioning ESGold to demonstrate significant improvements in precious metals recovery while contributing to the economic development of local mining communities.

The Bolívar JV marks ESGold's first expansion of its scalable tailings to cash flow model beyond Québec, a key test case for replicating the approach across multiple jurisdictions. The company has developed and proven this innovative approach at its Montauban project in Québec, where the strategy involves generating immediate cash flow from tailings reprocessing while simultaneously funding exploration activities that can lead to new discoveries and resource expansion.

This self-funded growth model reduces dependence on equity dilution and external financing while creating multiple pathways for value creation. The low-capital-expenditure nature of tailings reprocessing operations makes this model particularly attractive for rapid deployment across multiple sites, as the infrastructure requirements are significantly lower than traditional mining operations while offering faster paths to production and cash generation. ESGold's chair and COO Paul Mastantuono noted that the company envisions building a portfolio of similar operations throughout the Americas, leveraging local partnerships and existing permits to accelerate development timelines.

"The Bolívar opportunity perfectly fits our vision for ESGold's growth," said Mastantuono. "Our team sees this as a launchpad to scale our proven model across multiple jurisdictions, delivering value for shareholders while making a measurable positive impact in the communities where we operate."

The strategic framework established through the Bolívar partnership provides a template for future joint ventures and acquisitions, demonstrating how ESGold can rapidly expand its operational footprint while maintaining disciplined capital allocation. By securing permitted projects in prolific mining districts, the company can generate predictable, repeatable cash flow that funds exploration and discovery activities without requiring continuous equity financing, creating a sustainable growth platform that compounds value over time.

ESGold's approach to tailings reprocessing delivers tangible environmental benefits that extend far beyond traditional mining operations, addressing legacy environmental challenges while creating economic opportunities for local communities. The company's modern, mercury-free processing techniques represent a significant improvement over the rudimentary methods currently employed throughout the Bolívar region, where mercury amalgamation not only reduces precious metals recovery but also creates ongoing environmental contamination that affects local ecosystems and community health.

The remediation of legacy mine sites through responsible tailings reprocessing can dramatically improve environmental conditions in areas that have been impacted by decades of inefficient processing methods. ESGold's clean processing standards eliminate mercury use while implementing comprehensive environmental management measures that protect air and water quality, reduce emissions and restore disturbed land areas through systematic site remediation. This approach transforms environmental liabilities into productive assets while delivering measurable improvements to local environmental conditions.

The environmental benefits extend to supporting sustainable local employment opportunities that provide alternatives to environmentally harmful mining practices. By demonstrating the economic advantages of clean processing technology, ESGold can encourage broader adoption of environmentally responsible mining methods throughout the region while creating stable, well-paying jobs that support local economic development. The company's commitment to community engagement and environmental stewardship reflects its broader mission of proving that profitable mining operations can deliver positive environmental and social outcomes, establishing a new standard for responsible resource development in historically impacted mining regions.

"Bolívar has a long and storied history as one of Colombia's most prolific gold-producing regions, with decades of artisanal and small-scale mining contributing significantly to the country's overall output," said ESGold CEO Gordon Robb. "The region still processes hundreds of thousands of tonnes of ore annually, yet much of it is handled using rudimentary mercury amalgamation methods that leave behind a substantial amount of gold and silver in the tailings.

"This creates an immense opportunity for ESGold to apply modern, environmentally responsible recovery technology that can significantly improve yields while remediating legacy mine sites," Robb continued. "The early validation from our due-diligence sampling is highly encouraging, and it underscores the scalability of our tailings-to-cash-flow model as we aim to build a second high-margin operation in one of the most prolific gold-bearing districts in all South America."

Across the global mining industry, key players are making moves to reinforce their positions and deliver value to stakeholders. From major community investments in Canada to sustainability milestones in Africa, these companies are demonstrating the breadth of strategies shaping the sector's future.

Newmont Corp. (NYSE: NEM) recently made a C$8 million community investment to benefit the Tahltan Nation as part of its celebration of the 10th anniversary of the Red Chris Mine. The investment will fund a range of projects aimed at improving community well-being, including the development of community-use spaces, recreation facilities and greenhouse space. A portion of the investment will also support planning and pre-development efforts to improve housing in each community. The Red Chris Mine is an open-pit copper and gold mine that has become a key economic pillar in Tahltan territory, employing approximately 220 Tahltans and generating approximately $100 million annually in business with the Tahltan Nation Development Corporation (TNDC). In addition, the mine pays annual royalties to the Tahltan Heritage Trust and contributes mineral tax revenue to the Province of British Columbia which is shared directly with the Tahltan Nation.

Barrick Mining Corporation (NYSE: B) has published its Summary Sustainability Report, designed to provide stakeholders with an accessible overview of the company's sustainability performance and impact. The report focuses on measurable impact and encompasses Barrick's sustainability performance over the six years since the merger that formed today's Barrick. Key sustainability achievements achieved during this period include the company's evolving power profile toward renewable and cleaner energy sources, the distribution of over $70 billion to workers, local businesses, community projects and governments, and local partnerships formed to build schools, health clinics, drinking water access and other critical infrastructure, alongside investments in quality teachers, nurses and the equipment required to support these facilities.

Franco-Nevada Corp. (NYSE: FNV) announced that its wholly owned subsidiary has acquired an existing 1.0% net smelter return royalty on AngloGold Ashanti PLC's Arthur Gold Project. The acquisition was obtained from Altius Minerals Corporation for $250 million in cash, plus a contingent cash payment of $25 million payable subject to the achievement of certain conditions. The announcement noted that the Arthur Gold Project, previously the Expanded Silicon Project, is one of the largest and fastest-growing new gold discoveries in the United States. The ongoing drill program expanded the resource by 20% year over year, taking the most recently stated gold mineral resource base to 3.4 million ounces of Indicated Mineral Resources and 12.9 million ounces of Inferred Mineral Resources.

Agnico Eagle Mines Ltd. (NYSE: AEM) has reported "exceptional results" in its Q2 financial and operating report. "Our portfolio of high-quality assets continued to deliver exceptional results this quarter, generating record free cash flow, more than doubling the prior quarter," said Agnico Eagle Mines CEO and president Ammar Al-Joundi. "This performance reflects the strength of the gold price environment, our disciplined cost management and the consistency of our operational execution. While delivering record free cash flow, we remained disciplined in our capital allocation, reinvesting in our business, strengthening our balance sheet and returning capital to shareholders."

These developments illustrate the multifaceted direction of today's mining industry, one that balances community engagement, sustainability, strategic acquisitions and operational excellence. These leading companies highlight the innovation and resilience driving mining forward in an increasingly competitive and resource-conscious world.

For further information about ESGold Corporation, please visit ESGold Profile.

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