Newlox Resumes Pouring Gold
Vancouver, BC, January 21, 2021 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE: LUX | Frankfurt: NGO) is pleased to announce that pouring of gold at the Company’s first environmentally positive processing plant in Costa Rica has recommenced. Newlox Gold poured its first gold doré for 2021, and the operations team plan to regularly pour gold for sale as operations ramp-up to full scale over the coming months.
Gold production at Plant 1 was re-started following the unavoidable Covid-19 suspension of operations earlier in 2020. During that time, Newlox took advantage of the situation to move its first processing plant to a more favourable permanent location in line with longer-term growth objectives.
The Company is now operating a significantly enhanced processing plant, which is expected to achieve full-scale throughput at 80 tonnes per day in the second quarter of 2021. Recoveries to date have established a feedstock cutoff grade of 9 grams per tonne gold and recoveries of approximately 90%. Management looks forward to increased precious metals production and sales over the coming quarters.
A Message from Ryan Jackson, President & CEO:
“We are pleased to pour our first gold doré of 2021, which is a milestone on the path to full-scale production at Plant 1. This first pour at our upgraded plant indicates the technical systems are operating well and ready to scale.
Now the focus is on ramping-up daily throughput and reaching the Company’s production goals. Having closed a major financing for the company in December, Newlox Gold has a strong financial footing, which is supporting the ramp-up of operations at Plant 1 as well as the advancement of the Company’s growth strategy.”
About Newlox Gold
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 affect positive change in the environmental and social landscape in its targeted jurisdictions of operations.
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.