Newlox Gold Identifies Significant Brazilian Opportunities
Vancouver, BC - TheNewswire - 8 July 2021 - Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CNSX:LUX) (Frankfurt/Stuttgart:NGO) (OTC:NWLXF) is pleased to provide further information related to the Company’s entrance into the Brazilian gold scene. Newlox Gold intends to develop ESG-focused (environmental, social, and corporate governance) precious metals projects in Brazil through partnerships with local artisanal mining groups.
As previously announced (16 June 2021), Newlox Gold has begun working in partnership with NAP.Mineração/USP, the centre for small-scale responsible mining at the University of São Paulo, Brazil. The centre supports the dissemination of responsible mining practices to artisanal and small-scale mining operations through applied research, training, and education. NAP.Mineração/USP’s actions are oriented to foster responsible and integrated management of mineral exploration, mine development, mining, rehabilitation, governance and sustainable development within the artisanal mining sector.
With the support of NAP.Mineração/USP, the Company has identified three promising areas suitable for deploying Newlox Gold’s ESG-focused precious metals processing plants. These projects offer very significant opportunities to the Company and represent the backbone of an ambitious expansion program envisioned by management. The Company has now deployed personnel on the ground to undertake in-field due diligence of these projects and is interpreting data from sampling and geological work.
The first area is located in the state of Mato Grosso in the Amazon region, where Dr. De Tomi and NAP.Mineração/USP are conducting a World Bank sponsored project to improve the economic, social, and environmental conditions of artisanal miners and other stakeholders. The established cooperative operating in this area has more than 5,900 members, with 133 mining claims maintaining 300 active mining faces. Gold production in this district in 2020 was estimated to be over 4.8 tons.
Newlox Gold intends to complete its due diligence on these projects over the coming months with the intention of breaking ground on its first Brazilian processing facility (The Company’s 3rd plant) in the winter of 2021/2022. Management looks forward to providing updates during the due diligence, planning, and construction phases as it executes its Latin American growth strategy.
A Message from Ryan Jackson, President & CEO:
“We are excited to see Newlox Gold begin its ambitious expansion in Brazil, which will be a significant milestone in the Company’s growth strategy. The Brazilian mining industry is several orders of magnitude larger than what is found in Costa Rica, with over 250,000 known artisanal miners operating in the Amazonia region alone.
This first project in Brazil will be Newlox’s third such unit in its Latin American growth program geared toward increasing productivity while delivering social and environmental benefits to local stakeholders.”
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).
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 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., President
Phone: +1 778 738 0546