Gold Production Achieved: Environmentally & Socially Responsible Operations, Central America
Vancouver, BC, July 9, 2019 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE: LUX | Frankfurt: NGO) is pleased to announce the commencement of steady-state gold production at its, recently completed, remediation and precious metals recovery facility in Central America. Production of 3.875 kilograms of gold/silver doré during June resulted in revenues of $81,610.00.
As announced 27 May 2019, all pre-production activities at the Company’s first processing plant were completed by the end of May, initiating steady-state operations during the month of June. During this inaugural month, Newlox’s engineering team have been monitoring operational parameters of the plant and are pleased with its performance.
The Company is now focused on increasing daily throughput volume and achieving optimum tailings environmental remediation and gold recovery.
Management continues to leverage its association with both the Norman B. Keevil Institute of Mining Engineering at the University of British Columbia (UBC), and the Centre for Mineral Technology (CETEM) under the Brazilian Ministry of Science and Technology (MCTI), to advance the development of environmentally responsible technologies for the resource industry.
Through its partnership with CETEM and MCTI, Newlox has successfully tested its cutting-edge system for recovering deleterious materials left behind by historical and current artisanal mining operations. On-site testing of this innovative prototype was very encouraging, and final engineering of a full-scale circuit integration is currently underway.
Ryan Jackson, President of Newlox Gold comments: “June 2019 has been an exciting month for Newlox, marking a major milestone for the Company. Not only did the first processing plant complete its inaugural month of steady-state operation, but Newlox’s operating subsidiary surpassed the break-even point in the very first month. We expect precious metals recovery and sales to grow over the coming months and are confident that the processing plant will meet or exceed Newlox’s original expectations. I would like to congratulate the entire Newlox team on this momentous occasion. Reaching this milestone would not have been possible without their hard work and dedication.”
About Newlox Gold Ventures Corp.
Newlox Gold Ventures Corp. is an environmental remediation company recovering contaminants and residual precious metals from historical waste left behind over more than a century of inefficient artisanal and small-scale mining in politically and socially stable jurisdictions in Latin America.
The Newlox environmentally and socially responsible business model has been deployed after extensive experience in the region and with the help of the Company’s technical advisors at the Norman B. Keevil Institute of Mining Engineering at the University of British Columbia (“UBC”) which, provides the Company with unique advantages, such as not having to undertake exploration work or mining, resulting in dramatically reduced processing costs. Newlox also benefits from the high grades, which are characteristic of artisanal mine tailings due to the inefficient processing techniques used by the original miners.
The Company, with the guidance of its advisors at UBC, has also identified important remediation technologies designed to recover deleterious materials present due to historical artisanal mining practices and will be deploying these systems in the field as part of the commissioning process.
The Company has signed agreements with local artisanal mining cooperatives to provide a steady supply of historical tailings as well as newly created feedstock for its first fully operational processing plant in Central America.
With hundreds of years of mining history in Latin America and inefficient artisanal processing continuing to this day, the Company has identified and secured a compelling opportunity to grow its business model. Newlox has identified a niche within the extractive industry where a clean-technology company can apply innovative processing techniques to recover not only precious metals but also effect positive change in the environmental and social landscape in its targeted jurisdictions of operations.
Forward-Looking Information: The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward- looking information. Forward-looking information includes, but is not limited to, the completion of the work programs currently underway and the results of these programs. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, achievements, or performance may vary materially from those anticipated and indicated by these forward-looking statements. The material risk factors that could cause actual results to differ include the risk that work undertaken by the Company may have unintended effects, the risk of delays in completing work, and the risk that the Company may not be able to raise sufficient funds and Force Majeure. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, it can give no assurances that the expectations of any forward-looking information will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward- looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise. Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accept responsibility for the adequacy or accuracy of this release).
Technical Disclaimer: The Company advises it is not basing any decision to produce on a feasibility study of reserves demonstrating the economic and technical viability of the project and also advises there is increased uncertainty and specific economic and technical risks of failure associated with any production decision. Stewart A. Jackson, Ph.D., P.Geo., a “Qualified Person” within themeaning of National Instrument 43-101, has prepared, supervised the preparation of, and approved the contents of this News Release.
On Behalf of the Board, Newlox Gold Ventures Corp.