Newlox Gold Commences Advanced Metallurgy & Engineering Program
Vancouver, BC, August 31, 2017 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE: LUX | Frankfurt: NGO) is pleased to advise that it has applied the funds raised in its recent Revenue Participation Financing (July 17, 2017) to fieldwork and immediate corporate expenses. Importantly, and apart from the corporate expenses the vast majority of new funding is being deployed to Newlox’s previously announced environmental reclamation and precious metals recovery project.
While the plant circuit was thought to be adequate and nearly ready to commence operation, recently retained consulting metallurgical and process engineers have proposed a few improvements to the flowchart. The recommended upgrades are now in progress and are intended to improve efficiency and streamline operations.
Ryan Jackson, President of Newlox Gold Ventures Corp., is currently deployed in the field and reports that, “impressive progress has been made in the Company’s operations over the past few weeks. Newlox has beefed-up its technical team with the addition of two, highly qualified, in-field engineers who are working in cooperation with Newlox’s Canadian technical team to deliver substantial results”.
Once the upgraded processing circuit is operational, attention will be directed to fitting out the new onsite laboratory to ensure tight control over feedstock grades and processing efficiencies. The company has sourced the necessary equipment and purchased a 52-foot insulated transport trailer to house the new on-site laboratory.
“The addition of real-time analytical testing will significantly increase the Company’s capabilities as it continues to deploy its business plan in Latin America”, explains Mr Jackson.
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 Company, with the guidance of its advisors at UBC, has identified 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.
Newlox has signed agreements with local artisanal mining cooperatives to provide a steady supply of feedstock as well as built and tested its first processing plant in Central America. Under the supervision of the Company’s experienced engineer and metallurgist, the Company is currently conducting optimisation and commissioning work at the processing plant.
With hundreds of years of mining history in Latin America and inefficient artisanal processing continuing to this day, the Company believes that there is 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 not only recover 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.
For a PDF file of this news release, click here.