Newlox Gold Ventures and Argo Applied Technologies to Develop Ground-Breaking Clean Gold Production Technology
Vancouver, BC, November 15, 2018 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE: LUX | Frankfurt: NGO) is pleased to announce that it has signed a Pilot Plant development contract with Argo Applied Technologies (“Argo”), the British natural resources technology company to develop and deploy cutting-edge clean gold production technology.
This partnership follows-up on significant research and development which has taken place over the past year at the University of Leicester, where samples collected from Newlox’s projects in CentralAmerica have been used to evaluate innovative and environmentally positive mineral recovery technologies in a laboratory setting.
Argo and Newlox are now endeavouring to apply this ground-breaking technology to the mineral processing field. Research completed over the past year has yielded very encouraging results and provides a solid foundation for Argo to build upon and commercialize.
Argo’s DESionTM technology is based on the use of Deep Eutectic Solvents, developed at theUniversity of Leicester, to process mineral ores. DESionTM presents a non-toxic, environmentally safe, processing option for the recovery of precious metals and mercury from Newlox’s feed material.Initial testwork completed by Argo has already indicated the potential for the very rapid dissolution ofboth gold and mercury by DESionTM, and faster than the industry standard leaching technologies available today.
The ability of Deep Eutectic solvents to dissolve and selectively recover virtually any metal while requiring no water and no toxic processing inputs is a paradigm shift for the industry. The Deep Eutectic Solvents technology underlying DESionTM was first utilised in the aerospace industry twenty years ago to recycle superalloy metals. Argo is now applying this technology to the metals & mining sector.
The contract is to be executed in phases to perform the required laboratory test work to enable construction of a Pilot Plant suitable to process the artisanal gold tailings feed from Newlox’sprojects. The primary target of the Pilot Plant is to evidence that Argo’s DESionTM technology process provides a commercially and environmentally superior alternative to current industry standards and could benefit Newlox’s current planned project design in relation to the processing artisanal gold tailings.
“We are very excited by this development opportunity with Argo Technologies, and Argo’sphilosophy fits in with Newlox’s own strategy of recovering gold through socially and environmentally responsible processes recovering contaminants and residual precious metalsfrom historical waste. Argo’s initial results testwork, especially in relation to the potential recovery of mercury and the rate of recovery of gold has prompted Newlox to work with Argo,” commented Ryan Jackson, President of Newlox Gold.
“Applying Deep Eutetic Solvents to the global mining industry is a core objective of Argo. Weare very pleased to be able to announce this contract and the wider collaboration that we will undertake with Newlox Gold as a customer. Reducing the environmental and social impacts of mining is a core advantage for mining companies using DESionTM rather than conventional metals processing techniques,” commented John Murray, Director, Argo Applied Technologies.
About Argo Applied Technologies
Argo Applied Technologies is a UK-based natural resources technology company that is commercialising the use of DESionTM technology in the mining industry. DESionTM technology is based on Deep Eutectic Solvents research & development carried out at the University of Leicester. Argo is in a research partnership with the University of Leicester to commercialise this technology. Argo Applied Technologies is the trading name of Argo Natural Resources Limited.
About Newlox Gold Ventures Corp.
Newlox Gold Ventures Corp. recovers both residual precious metals and contaminants from historical waste accumulated from more than a century of inefficient artisanal and small-scale mining in politically and socially stable jurisdictions. Agreements with local artisanal mining cooperativesprovide steady supplies of feedstock for the Company’s first processing plant in Central America. Hundreds of years of mining history in Latin America and current inefficient artisanal processing ensure ample opportunities for the Company to grow its business model. Newlox occupies a pioneering niche within the extractive industry where it can apply innovative processing techniques to not only recover precious metals but also to effect positive change in the environmental and social landscape through its 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.
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