(TheNewswire)
Vancouver, BC – TheNewswire - 8 July 2024 – Newlox Gold VenturesCorp. (“Newlox” or the “Company”) (CSE: LUX |Frankfurt/Stuttgart: NGO | PINK: NWLXF ) is pleased to announce that theCompany has achieved its best production month to date.
This milestone follows the successful implementation ofmetallurgical optimization processes at its Costa Rican Operations,particularly at its wholly-owned Project 1. This milestone followsfavourable outcomes from the optimization program reported earlierthis year ( News Release 6 May 2024 ).
Key highlights of this record-breaking achievementinclude:
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old recovery rates of up to 93% have been sustained atPlant 1, a significant enhancement over historical recovery rates andcontributing to the highest monthly production in the Company'shistory. The record production amounts to 166.2 troy ounces (5,170grams) of gold.
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he adoption of new environmentally friendlychemicals reduced processing costs , which should be sustained on scale up and at futureoperations.
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Reduced grinding requirements have helped offset theeffects of inflation without compromising efficiency nderscoring the effectiveness of the newly implementedprocesses.
Looking forward, Newlox aims to build on this successthrough the following initiatives:
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Continuing research and development efforts to reducematerial residency time within the circuit, further enhancingefficiency and driving down costs across all operations.
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Plant 2: Newlox Gold’s Boston Project recentlystarted operations and is expected to deliver sustained operationalgrowth throughout the year.
Ryan Jackson, CEO of Newlox Gold Ventures Corp.,commented, “Achieving record productivity in June is a positivemilestone for the Company. Operational improvements, combined withfavourable gold prices, are expected to significantly boost ourrevenue this year. Having completed the required electrical upgradesat our Costa Rican operations early this year, Newlox’s engineeringteam has been able to focus on productivity at Plant 1 and is on trackto return to the exciting operational growth that we saw in the firsthalf of last year. With Plant 2 now online, we expect to seeproductivity from the second processing plant contribute to sustainedgrowth during the remainder of 2024. The positive economiccontribution through use of environmentally friendly processes,produces a win-win scenario for investors through greater efficiencyand increased opportunities for the company in otherregions.”
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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