Newlox Gold’s wholly owned subsidiary, Oro Roca, S.A., has deployed an environmental reclamation facility in Central America following an extensive R&D process at the University of British Columbia’s Norman B. Keevil Institute of Mining Engineering. The Company’s environmental reclamation plant is operational and currently being expanded and optimised.
Two studies were undertaken at the University of British Columbia (UBC) on samples provided by the Company. Extensive R&D work has been completed at UBC during the primary process design and subsequent optimisation processes. At the conclusion of the second round of R&D, Newlox’s technical advisors had surpassed their goal of delivering 90% recovery and presented the Company with robust plan to implement in the field.
The result was a tailor-made reclamation technique which is designed specifically to address the environmental and metallurgical qualities of the material identified for reclamation.
With field and lab testing both delivering positive results, Newlox has constructed its first, tailor-made, processing facility using the designs provided by UBC. Construction at the Company’s first processing facility was completed in 2015, commissioning and optimisation work is now underway as the Company approaches commercialization.
During the commissioning and optimisation phase, testing of the processing facility resulted in the reclamation of precious metals and deleterious materials as designed. Gold recovered during the testing phase resulted in the Company’s first gold sale in 2015. As a result of this sale, the Company was able to generate its first revenue from reclamation activities which is a major milestone as the company continues to pursue its business model.
The longer-term objective of Newlox is to establish a dividend paying enterprise, which will allow its shareholders to participate in equity value growth, share in profits, and contribute to environmental cleanup while setting a high standard of social responsibility.