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Newlox Gold Upgrades Processing Plant and Appoints Corporate Secretary
Vancouver, BC, October 20, 2015 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE: LUX) announces the commissioning of new elution and electrowinning equipment at its processing facility as part of its optimization program. The new equipment is designed to upgrade concentrates produced by the company into gold doré for sale and is custom made to suit the Company’s needs.
The Company produces precious metals concentrates through the flotation and gravity processes from artisanally generated tailings material in Central America. These concentrates are further processed using a customized intensive carbon in leach (CIL) system designed in partnership with the Company’s advisors at the Norman B Keevil Institute of Mining Engineering at the University of British Columbia.
Precious metals are removed from the concentrates as part of the CIL process and are deposited on activated carbon for further processing. The newly commissioned elution and electrowinning system is designed to strip the precious metals from the loaded carbon and deposit these metals through an electrolytic process onto stainless steel cathodes. The plated metals are then removed from the cathodes using a high pressure water jet. Metals harvested from the cathodes are then dried and smelted to form saleable precious metals doré bars.
The elution and electrowinning system was engineered in Canada by SX Kinetics of Cobourg, Ontario and was fabricated in Canada and Costa Rica. The new process has been tested in the field and Newlox’s operations team confirm that all systems are operational. Initial electrowinning tests have demonstrated that precious metals are actively plating on the cathodes and the equipment is running as designed.
Additionally, Newlox announces the appointment of Donna Moroney of Wiklow Corporate Services Inc. as the Company’s Corporate Secretary. With over 30 years of extensive experience in regulatory and corporate compliance in both Canada and the United States, and as a senior
officer for various public companies, Donna has the wealth of experience and knowledge Newlox needs to maintain and organize its corporate affairs.
As President and owner of Wiklow Corporate Services Inc. since 2008, she assists companies in the resource, financial and technology sectors in maintaining the securities and exchange demands on public companies, as well as keeping them up-to-date on relevant issues, policies and working practices. Ms. Moroney also assists companies reporting in the U.S. in preparing registration statements, quarterly and annual financial filings and other various facets of meeting U.S. securities requirements. She also leads workshops that provide a practical guide for public companies in meeting their securities regulatory compliance requirements. Management welcomes Donna to the Newlox team.
Newlox, together with its advisors has engineered and deployed its remediation facilities over the past eight months. It has accomplished a great deal in this time frame with very limited resources. The Company will provide further news as it continues to prove its operational model and focus on its longer term objective; to establish a dividend paying enterprise which will allow its shareholders to participate in equity value growth, share in profits, and contribute to environmental clean-up while setting a high standard of social responsibility.
Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release).
On Behalf of the Board, Newlox Gold Ventures Corp.
Statements in this news release may be viewed as forward-looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. There are no assurances the company can fulfill such forward-looking statements and the company undertakes no obligation to update such statements. Such forward-looking statements are only predictions; actual events or results may differ materially as a result of risks facing the company, some of which are beyond the company’s control.
For a PDF file of this news release, click here.