(TheNewswire)
Vancouver, BC – Thenewswire - 20 February 2024 – Newlox Gold VenturesCorp. (“Newlox” or the “Company”)(CSE: LUX ) ( Frankfurt/Stuttgart: NGO ) (OTC : NWLXF ) ispleased to announce that, following the connection of high-voltagepower, it has completed testing of equipment at its Boston Project(Plant 2) in Costa Rica and has started commissioning work inanticipation of commercial operations.
During the first week of February, Newlox Gold’sengineering team worked in partnership with technicians from thestate-owned Costa Rican power company to test power systems at theCompany’s processing plants and ensure a successful start-up ofequipment. Having confirmed nominal performance of all electricalcircuits, the operations team moved on to equipment testing last week.
Management is pleased to report that the crushing andmilling equipment is now operating, and the operations team haveadvanced to the commissioning stage. Over the coming weeks,mineralized material will start to be processed at the Boston Projectwhile testing and fine tuning of all plant equipment is underway.
The is slated to become the Company’s second environmentallyand socially responsible precious metals project in Costa Rica. TheProject will process feedstock newly extracted from the Boston Mine bythe Company’s local mining partners. At full scale, Newlox willoperate the new Boston mill to process 150 tonnes per day of materialgrading +- 15 grams per tonne gold with an anticipated gold recoveryof 90%. All feedstock is to be provided by the Company’s miningpartners, with profits to be split evenly between the parties.
“We are delighted to report that the equipment atPlant 2 is now operating, and the first rock has been processedthrough the crushing and milling circuit. Commissioning work is nowunderway at the Boston Project, and the Company will be providingupdates to the market as this procedure advances towards the start ofcommercial operations,” commented Ryan Jackson, CEO of Newlox GoldVentures Corporation.
Fo rward- 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, butis 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 the Companybelieves that the expectations reflected in the forward-lookinginformation are reasonable, it can give no assurances that theexpectations of any forward-looking information will prove to becorrect. Except as required by law, the Company disclaims any intention andassumes no obligation to update or revise any forward-lookinginformation to reflect actual results, whether as a result of newinformation, future events, changes in assumptions, changes in factorsaffecting such forward-looking statements or otherwise. NeitherCanadian Securities Exchange nor its Regulation Services Provider (asthat term is defined in the policies of the Canadian SecuritiesExchange) accept responsibility for the adequacy or accuracy of thisrelease).
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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