(TheNewswire)
Vancouver, BC – TheNewswire- 6 May 2024 – Newlox Gold Ventures Corp.(“Newlox” or the “Company”) (CSE: LUX |Frankfurt/Stuttgart: NGO | PINK: NWLXF ) a leader in the development and operation ofenvironmentally responsible mineral processing is delighted to announce the favourable outcomes of itsmetallurgical optimization processes conducted at its Costa RicanOperations. These advancements are poised to seamlessly transition toNewlox's larger second precious metals recovery plant, which iscurrently in the final stage of commissioning ( News Release 17 April2024 ).
The program, spearheaded by independent metallurgicalconsultants and subsequently validated by an external laboratory,marks a significant stride forward in Newlox's commitment tooperational efficiency and sustainable practices.
Key highlights from the metallurgical advancementsinclude:
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Achieving consistent gold recovery rates of up to 93%at Project 1, signifying a notable enhancement over historicalrecovery rates.
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The adoption of new environmentally friendly chemicals,coupled with enhanced cost-effectiveness , has yieldedsuperior recovery rates and lowered processing costs.
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The new process has allowed for reduced grindingrequirements. This is a pivotal breakthrough that preserves our cost matrix withoutcompromising efficiency or environmental integrity.
Looking forward, Newlox is poised to capitalize onthese achievements as we pursue the following milestones andcatalysts:
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Our research endeavourspersist as we remain steadfast in our determination to significantly reduce material residency time within thecircuit, thereby further enhancing efficiency and driving downcosts across all existing and futureoperations.
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The main focus of the Plant 1 team currently is to takeadvantage of improved metallurgical efficiency and reduced operatinginputs to deliver strong results over the coming quarterswhile making plans to commence production atPla nt #2 with increased productivity.
The metallurgical optimization forms an integralcomponent of our ongoing continuous improvement program, inauguratedlast year. Under the guidance of Newlox Gold’s metallurgicalConsultant, Eng. José Adán, the program not only introducedinnovative processing methods but also imparted comprehensive trainingto our personnel, ensuring proficiency and efficacy in implementation.With these transformative advancements, Newlox Gold Ventures Corp. issteadfast in its commitment to revolutionizing the precious metalsrecovery industry and setting new benchmarks both environmentally andeconomically.
“These changes are expected to deliver significantproduction improvements in the near term, which should be compoundedby favourable gold prices and will lead to increased revenue andprofitability. What’s more, the processes are immediatelytransferrable to Plant 2 (the Boston Project), where commercialoperations are expected to start at the end ofcommissioning, ” commented Ryan Jackson,CEO of Newlox Gold Ventures Corporation.
Forward-LookingInformation
The information in this news releaseincludes certain information and statements about management’s viewof future events, expectations, plans and prospects that constituteforward- looking information. Forward-looking information includes,but is not limited to, the completion of the work programs currentlyunderway and the results of these programs. These statements are basedupon assumptions that are subject to significant risks anduncertainties. Because of these risks and uncertainties and as aresult of a variety of factors, the actual results, achievements, orperformance may vary materially from those anticipated and indicatedby these forward-looking statements. The material risk factors thatcould cause actual results to differ include the risk that workundertaken by the Company may have unintended effects, the risk ofdelays in completing work, and the risk that the Company may not beable to raise sufficient funds and Force Majeure. Although theCompany believes that the expectations reflected in theforward-looking information are reasonable, it can give no assurancesthat the expectations of any forward-looking information will prove tobe correct. Except as required by law, the Company disclaims anyintention and assumes no obligation to update or revise anyforward-looking information to reflect actual results, whether as aresult of new information, future events, changes in assumptions,changes in factors affecting such forward-looking statements orotherwise. Neither Canadian Securities Exchange nor its RegulationServices Provider (as that term is defined in the policies of theCanadian Securities Exchange) accept responsibility for the adequacyor accuracy of this release).
TechnicalDisclaimer
The Company advises it is not basingany decision to produce on a feasibility study of reservesdemonstrating the economic and technical viability of the project andalso advises there is increased uncertainty and specific economic andtechnical risks of failure associated with any production decision.Grab sample results included in any press release are not necessarilyindicative of the mineralization in general for the deposit. JamesTurner, P.Geo., a “Qualified Person” within the meaning ofNational Instrument 43-101, has prepared, supervised the preparationof, and approved the contents of this News Release.
On Behalf of the Board, Newlox Gold VenturesCorp.
Contact Newlox Gold
Newlox Gold Ventures Corp.
Website: www.newloxgold.com
Email: info@newloxgold.com
Phone: + 1 604 2560493
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