(TheNewswire)
Vancouver, BC – TheNewswire - 17 April 2024 – Newlox Gold VenturesCorp. (“Newlox” or the “Company”)(CSE: LUX ) | ( Frankfurt/Stuttgart: NGO ) | (OTC : NWLXF ), a trailblazer in environmentallyconscious mining practices, is pleased to provide an update oncommissioning at Project 2; the .
Ryan Jackson, CEO, is pleased to announce that theCompany has started feeding mineralized material through it's second,larger, plant in Costa Rica.
The Project will process feedstock freshly extractedfrom the Boston Mine by the Company’s local mining partners. At fullcapacity, the new Boston mill will handle up to 150 tonnes per day ofmaterial grading +/- 15 grams per tonne of gold, with an expected goldrecovery rate of at least 90%. All feedstock will be supplied by theCompany’s local mining partners, with profits to be shared equallybetween the parties after expenses.
The commissioning of this project is expected to addsignificant production to Newlox Gold’s Costa Rican operations,provide local miners with enhanced income, and displace inefficientand environmentally damaging mercury-based artisanal gold processingin the area. The Boston Project is set to pour its first gold as soonas commissioning is complete and deliver increasing productivityduring the remainder of the year.
Since the commencement of the commissioning stage atthe Boston Project in late February, Newlox Gold’s operations teamhas been diligently testing and commissioning the dry side of theprocessing plant. This includes the loading, material handling,crushing, grinding, and classification systems, all of which arecrucial components of the project's success. Importantly, thesesystems represent the majority of the energy requirements of theprocessing plant, and successful testing and commissioning of the dryside of the processing plant has confirmed stable and adequateelectrical power from the Costa Rican powergrid following the installation of upgraded electricalsystems at the end of January.
This week, Newlox Gold’s Boston Project operatorshave moved ahead to the wet side of the processing plant, whichincludes the concentration and dissolution of precious metals intosolution, loading of dissolved precious metals into activated carbon,elution of those metals from the carbon into pregnant leachate, andelectrowinning of high-purity precious metals before final smeltinginto doré bars for sale. This final step of commissioning of theBoston Project will improve and determine the final efficiency of theCompany’s metallurgical solution for ore sourced from theCompany’s local mining partners.
Newlox’s local mining partners are preparing forincreased mining operations to support the anticipated requirements ofthe Boston Project as it grows revenues through greater productivitythroughout the year.
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 aresubject to significant risks and uncertainties. Because of these risksand uncertainties and as a result of a variety of factors, the actualresults, achievements, or performance may vary materially from thoseanticipated and indicated by these forward-looking statements. Thematerial risk factors that could cause actual results to differinclude the risk that work undertaken by the Company may haveunintended effects, the risk of delays in completing work, and therisk that the Company may not be able to raise sufficient funds andForce Majeure. Although the Company believes that the expectationsreflected in the forward-looking information are reasonable, it cangive no assurances that the expectations of any forward-lookinginformation will prove to be correct. Except as required by law, theCompany disclaims any intention and assumes no obligation to update orrevise any forward-looking information to reflect actual results,whether as a result of new information, future events, changes inassumptions, changes in factors affecting such forward-lookingstatements or otherwise. Neither Canadian Securities Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the Canadian Securities Exchange) accept responsibility for theadequacy or 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: + 1 604 256 0493
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