Newlox Gold Resumes Gold Production
Vancouver, BC, 13 November 2020 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE: LUX | Frankfurt: NGO) is pleased to announce that it has resumed gold production following the unavoidable Covid-19 suspension of operations at its environmental remediation and gold production facility in Costa Rica.
Management utilized the temporary interruption to upgrade the Company’s production circuit and is pleased to report that the enhanced facility is operational.
The Plant has a rated capacity of 80 tonnes per day of material grading +9 grams per tonne gold with an anticipated gold recovery of approximately 90%.
A Message from Ryan Jackson, President & CEO:
“We are excited to resume gold production at the first processing plant and have set a goal to achieve full production within the first half of 2021. Newlox Gold has also started development work on Plant 2, located at its recently announced Boston Project.
Management looks forward to producing at Plant 2 shortly after Plant 1 achieves rated capacity. Additionally, Newlox Gold has multiple expansion projects under duediligence, and we expect to announce our third project early next year.”
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.