Newlox Gold Successful Optimization Program and R&D Update. Fall 2018 Winter 2019 Results – Confirming and Improving Operations
Vancouver, BC, February 25, 2019 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE: LUX | Frankfurt: NGO) is pleased to announce that over the past four months, Newlox has completed its third round of testing and optimization work at its remediation and gold recovery project in Central America.
During this period, the operations and engineering team, under the guidance of its technical advisors, focused on the optimization of the beneficiation circuit. This third, and final, stage of development built upon the positive results from the previous two stages of test work during 2018. The Company is now poised to advance toward full-scale commercial operations.
Recoveries at the processing plant have steadily increased during the three stages of optimization and have attained a satisfactory level of efficiency. The processing plant now exceeds the targeted efficiency level, and the stage is set for Newlox to transition to commercial operations by increasing throughput.
Management is pleased to be able to begin commercial operations and expect to rapidly grow both precious metals recovery and environmental efficiencies over the coming months.
Importantly, during the same period, and as announced on 5 November 2018, the Company has advanced its ground-breaking Clean Gold Production Technology research and development project in partnership with Argo Applied Technologies (“Argo”), the British natural resources technology company and the University of Leicester. Together we will develop and deploy this cutting-edge clean gold production technology. Initial test work has already indicated the potential for the very rapid dissolution and recovery of both gold and mercury, faster than the industry standard leaching techniques available today.
DESion™ technology is based on the use of Deep Eutectic Solvents, developed at the University of Leicester, to process mineral ores. DESion™ presents a non-toxic, environmentally safe, processing option for the recovery of precious metals and mercury from Newlox’s feed material. Newlox’s strong commitment to environmentally and socially responsible precious metals recovery, established at its first completed tailings remediation and reprocessing plant, will be enhanced through the application of this cutting-edge technology. Management believes that this approach will elevate the precious metals industry globally through the broad application of clean gold technology and Newlox will to be first-to-market with it at the Company’s planned expansion project in Central America.
“We are very excited by the research being conducted in partnership with Argo Technologies, and Argo’s philosophy fits in with Newlox’s strategy of recovering gold through socially and environmentally responsible processes recovering contaminants and residual precious metals from historical waste.”
“Having received very encouraging results from the recently completed first round of testing, Newlox is excited to undertake a second round of R&D and are currently preparing to ship a 500 Kilogram bulk sample to the UK for further testing,” commented Ryan Jackson, President of Newlox Gold Ventures.
2019 Outlook – Building on a Proven Foundation
Having completed the optimization work at the Company’s first processing plant, Newlox is poised to begin commercial operations. Newlox plans to start commercial operations at a rate of 20 tonnes per day and operate monthly precious metals recovery cycles.
Newlox’s operations team plan to increase plant throughput to 30 tonnes per day in the second month of steady-state operations before growing to 40 tonnes per day in the third month. Throughput is expected to continue to increase month-over-month during 2019, reaching the targeted 80 tonnes per day level before year-end.
About Argo Applied Technologies.
Argo Applied Technologies is a UK-based natural resources technology company that is commercializing the use of DESion™ technology in the mining industry. DESion™ technology is based on Deep Eutectic Solvents research & development carried out at the University of Leicester. Argo is in a research partnership with the University of Leicester to commercialize this technology, under the trade name of DESion™ owned by Argo Natural Resources Limited.
About Newlox Gold Ventures Corp.
Newlox Gold Ventures Corp. recovers both residual precious metals and contaminants from historical waste accumulated from more than a century of inefficient artisanal and small-scale mining in politically and socially stable jurisdictions. Agreements with local artisanal mining cooperatives provide steady supplies of feedstock for the Company’s first processing plant in Central America. Hundreds of years of mining history in Latin America and current inefficient artisanal processing ensure ample opportunities for the Company to grow its business model. Newlox occupies a pioneering niche within the extractive industry where it can apply innovative processing techniques to not only recover precious metals but also to effect positive change in the environmental and social landscape through its 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.
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