Vancouver, BC – TheNewswire - 17 April 2024 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE:LUX) | (Frankfurt/Stuttgart:NGO) | (OTC:NWLXF), a trailblazer in environmentally conscious mining practices, is pleased to provide an update on commissioning at Project 2; the Boston Clean Gold Project.

 

Ryan Jackson, CEO, is pleased to announce that the Company has started feeding mineralized material through it's second, larger, plant in Costa Rica.

 

The Project will process feedstock freshly extracted from the Boston Mine by the Company’s local mining partners. At full capacity, the new Boston mill will handle up to 150 tonnes per day of material grading +/- 15 grams per tonne of gold, with an expected gold recovery rate of at least 90%. All feedstock will be supplied by the Company’s local mining partners, with profits to be shared equally between the parties after expenses.

 

The commissioning of this project is expected to add significant production to Newlox Gold’s Costa Rican operations, provide local miners with enhanced income, and displace inefficient and environmentally damaging mercury-based artisanal gold processing in the area. The Boston Project is set to pour its first gold as soon as commissioning is complete and deliver increasing productivity during the remainder of the year.

 

Since the commencement of the commissioning stage at the Boston Project in late February, Newlox Gold’s operations team has been diligently testing and commissioning the dry side of the processing plant. This includes the loading, material handling, crushing, grinding, and classification systems, all of which are crucial components of the project's success. Importantly, these systems represent the majority of the energy requirements of the processing plant, and successful testing and commissioning of the dry side of the processing plant has confirmed stable and adequate electrical power from the Costa Rican power grid following the installation of upgraded electrical systems at the end of January.

 

This week, Newlox Gold’s Boston Project operators have moved ahead to the wet side of the processing plant, which includes the concentration and dissolution of precious metals into solution, loading of dissolved precious metals into activated carbon, elution of those metals from the carbon into pregnant leachate, and electrowinning of high-purity precious metals before final smelting into doré bars for sale. This final step of commissioning of the Boston Project will improve and determine the final efficiency of the Company’s metallurgical solution for ore sourced from the Company’s local mining partners.

 

Newlox’s local mining partners are preparing for increased mining operations to support the anticipated requirements of the Boston Project as it grows revenues through greater productivity throughout the 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. Grab sample results included in any press release are not necessarily indicative of the mineralization in general for the deposit. James Turner, P.Geo., a “Qualified Person” within the meaning 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.

 

Contact Newlox Gold

 

Newlox Gold Ventures Corp.

Website:                                                         www.newloxgold.com  

Email:                                                                 info@newloxgold.com

Phone:                                                                 + 1 604 256 0493

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