(TheNewswire)
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Vancouver, BC – TheNewswire - 28 May 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 report the successful completion of commissioning and the start of operations at Project 2; the Boston Clean Gold Project.
The second ore processing facility has started commercial production. Feedstock freshly extracted from the Boston Mine by the Company’s local mining partners is now in circuit. At full design capacity, the new Boston mill will process 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%. Feedstock will be supplied by the Company’s local mining partners, with profits after expenses to be shared equally between the parties.
The Boston Project is expected to add meaningful production to Newlox Gold’s Costa Rican operations, while helping to eliminate environmentally damaging mercury-based artisanal gold processing in the area. The new plant is now operating and will begin contributing gold doré to the Company’s sales stream in the near term delivering increasing productivity in the future.
“With the final step of commissioning of the Boston Project completed, our operations team is fully focused on increasing on-site productivity over the coming months. Simultaneously, our local mining partners are ramping up their operations to meet the anticipated requirements of the Boston Project. As plant throughput is expected to elevate consistently over the coming quarters, we are optimistic about the future productivity and growth of Newlox Gold,” commented Ryan Jackson, CEO.
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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