Newlox Gold Expands from Lab to In-Field Development of Organic Clean Gold Technology
Vancouver, BC, 17 February 2022 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE: LUX | Frankfurt/Stuttgart: NGO | PINK: NWLXF)is pleased to announce the start of in-field testing of its novel non-toxic gold recovery technology, designated Organic Aqua Regia (OAR). This initial round of in-field testing builds upon excellent results received from Stage 1 laboratory testing. Gold dissolution exceeded 99% efficacy in Stage 1 and Stage 2 laboratory testing is ongoing.
A shipment of OAR reagents from a US-based manufacturer was recently received by the Company’s operations team in Costa Rica. This large-volume shipment will be sufficient to support both ongoing research at the Company’s in-field laboratory, as well as expanded testing beyond the lab at the processing plant.
The Company is most encouraged by results to date and is continuing to investigate the use of OAR technology as a non-toxic and water-free alternative to cyanidation for the recovery of gold, silver, and other precious metals. The multiple outstanding advantages of OAR include that it is non-toxic, recyclable, extracts gold faster than cyanide, does not use water, and recovers gold with neither carbon nor electrowinning.
A Message from Ryan Jackson, President & CEO:
“Newlox Gold’s OAR technology is poised to deliver the next milestone in recovery technology for the resource industry. While there has been some technological progress in our industry, recent advancement has been incremental.
The last major improvement in gold recovery technology was the shift away from mercury amalgamation, which is both inefficient and has significant negative environmental and health outcomes, to cyanide leaching, which is very effective and, if done correctly, is safe and does not result in environmental damage.
Cyanide leaching represents the best currently available technology and is therefore used by nearly all responsible mining companies at present. However, cyanide leaching requires large volumes of water, has a terrible public relations problem and, if handled improperly, can be dangerous for staff.
We believe that OAR will be the next major step forward for the precious metals industry. The technology appears to be an ideal solution to a variety of metallurgical conditions and is highly effective at gold dissolution, much like cyanide. However, OAR is non-toxic and is an anhydrous reagent which means it does not require the input of fresh water.
Water use is a major topic in the resource industry, especially in arid climates where mining competes with agriculture and residential use for fresh water. Additionally, not requiring water means there are no water effluent disposal problems, a huge benefit for industry.
The initiation of in-field testing is a major milestone for the Newlox Gold R&D division. We are most enthusiastic to begin testing OAR technology in Costa Rica.”
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).
On Behalf of the Board, Newlox Gold Ventures Corp.
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