New Ball Mill on site at Boston Project of Newlox Gold
Vancouver, BC, 14 April 2022 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE: LUX | Frankfurt/Stuttgart: NGO | PINK: NWLXF) is pleased to announce it has received its new ball mill and other critical equipment from suppliers in South America. The ball mill is the most important single piece of equipment for the Company’s new processing plant, and its arrival facilitates the advancement of construction at the Boston expansion project.
The Boston recovery plant is the Company’s second environmentally and socially positive precious metals recovery plant. It will process feedstock newly extracted from the Boston Mine by the Company’s local mining partners. Newlox will operate the new mill at Boston capable of processing 150 tonnes per day of material grading +- 15 grams per tonne gold with an anticipated gold recovery of 90%. All feedstock is to be provided by the Company’s mining partners, with profits to be split evenly between the parties.
Local miners have continuously operated informal and formal mines in the Central Gold Belt of Costa Rica and the area of the Boston Mine since the early 1900s. 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 heritage and traditions for the local groups and continue to be practiced today for both economical and cultural reasons. For the first time since the introduction of the mercury amalgamation process in artisanal gold and silver production, the new Boston plant will achieve zero use of mercury and eliminate its associated environmental damage.
The Newlox Gold construction team have previously reported completion of engineering, permitting, earthmoving, site preparation, and procurement stages of the construction timeline at the Boston Project. In anticipation of the arrival of the ball mill and other critical equipment, pouring of foundations and inertia blocks has been underway to receive the installation of equipment.
Newlox Gold is making steady progress in all its initiatives and remains well funded to complete both Project 1 and the Boston expansion. Management will continue to update the market as we achieve milestones towards our goal of becoming the first ESG-focused medium-sized gold producer.
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).
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. Grab sample results included in any press release are not necessarily indicative of the mineralization in general for the deposit. 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.
Newlox Gold Contact