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Figure 1. Company Staff Visit the Recently Reconditioned Local Mine Portals
Vancouver, BC – TheNewswire – 3 March 2021 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CNSX:LUX.CN) (Frankfurt/Stuttgart:NGO) is pleased to report that the local artisanal mining partners have begun reconditioning the Boston Mine adits (tunnels) in anticipation of enhanced mineral processing without the need for mercury. The reconditioning will allow increased mine output to support the commissioning of the new processing circuit, eliminating mercury use to improve environmental conditions while simultaneously boosting efficiency.
Local miners have operated informal and formal mines continuously in the Central Gold Belt of Costa Rica and the area of the Boston Mine since the early 1900s, while traditional pre-industrial mining and goldsmithing history in the area dates to 400-500 AD. Precious metals production and smithing are an integral part of local groups’ heritage and traditions and continue to be practiced today for both economic and cultural reasons. Now, for the first time since the introduction of the mercury amalgamation process, artisanal gold and silver production will be achieved with zero use of mercury and its associated environmental damage.
As an expansion to the Newlox artisanal tailings remediation and precious metals recovery project, the Company is implementing a new partner-mining project in association with local stakeholders. The local partners continue to exploit their gold veins while the Company will provide advisory, engineering, and processing support to achieve efficient gold and silver recovery using environmentally positive technology. Both the Company and local stakeholders are keen to advance this project’s development and anticipate that it will provide economic, social, and environmental benefits to all parties.
Newlox management were welcomed to the Boston Mine, which has been in continuous operation for decades and is currently being refurbished in anticipation of supplying raw feedstock to the Boston Processing Plant. This processing plant is fully permitted and is at an advanced stage development, with commissioning expected in the second quarter of this year.
At full scale, the Boston Plant is expected to process 150 tonnes per day of feedstock at a grade of +-15 grams per tonne gold with a significant silver component. Net revenues after all production costs will be split 50/50 between the miners and Newlox. The Company expects the Boston Project to contribute to Newlox’s near-term growth significantly.
A Message from Ryan Jackson, President & CEO:
“We are delighted to see our local partners refurbishing and upgrading their mines in anticipation of the commissioning of the new processing facility. Mining and precious metals are an integral component of the local population’s economy, culture, and history in Central America. We are honoured to be invited to assist in the sustainable development of the local economy.
Although artisanal mining has a long and rich history in this area, traditional metal extraction methods have had harmful environmental consequences. By providing access for local mining groups to modern mineral processing technology, Newlox will empower local miners to enhance their economic, social, and environmental circumstances while advancing our Company’s growth strategy.”
About Newlox Gold
Newlox has identified a niche within the extractive industry where a clean-technology company can apply innovative processing techniques to not only recover precious metals but also affect positive change in the environmental and social landscape of 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 the meaning 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.
Contact Newlox Gold
Ryan Jackson
Newlox Gold Ventures Corp., President
Website: www.newloxgold.com
Email: [email protected]
Phone: +1 778 738 0546
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