Newlox Marks Eight Consecutive Months of Gold Recovery
Vancouver, BC, February 24, 2020 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE: LUX | Frankfurt: NGO) is pleased to mark the eighth consecutive month of gold recovery at the Company’s first environmental remediation and precious metals production facility in Central America.
Since the commencement of commercial operations in June of 2019, Newlox has been recovering and selling precious metals while installing upgrades to the plant to increase productivity and efficiency. Having completed enhancements at the processing plant in late 2019, the focus is now on increasing daily throughput and, by consequence, revenues from recovered gold.
The Company’s in-house atomic absorption and fire assay analytical laboratory have been running continuously over the past eight months, testing artisanal tailings stockpiles and ensuring operational process control. This testing has allowed the Newlox team to manage operations and prioritize feedstock based on precious metals content. The Company has established an inventory of high-grade feedstock to support the planned increase in throughput.
The Company looks forward to continuing and expanding its successful environmental remediation and gold recovery program.
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.
With the guidance of its advisors at UBC, the Company is deploying remediation technologies designed to recover deleterious materials present due to historical artisanal mining practices.
Newlox has signed agreements with local artisanal mining cooperatives to provide a steady supply of historical tailings as feedstock for its first fully operational processing plant in Central America.
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 affect 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.
For a PDF file of this news release, click here.