Tickers: XCNQ:LUX
Tags: Mining
Vancouver, BC / TheNewswire / November 27, 2017 - Newlox Gold Ventures Corp. ("Newlox" or the "Company") (CSE: LUX | Frankfurt: NGO) is pleased to report the successful application of its previously announced plant circuit modifications and upgrades at its gold tailings processing facility in Central America. The plant has achieved steady-state operations and is increasing throughput toward its targeted 80 tonnes per day. Plant efficiency now exceeds original expectations and is projected to improve over the coming weeks.
Newlox's metallurgical and engineering team has completed the design of the next phase of development, which is beneficiation of the concentrate and smelting. The Company's in-house engineering team is directing onsite fabrication of required equipment. Commissioning is targeted for mid-December, after which Newlox plans to enhance sample analysis by establishing an on-site laboratory to ensure frequent testing of processed material.
Ryan Jackson, President of Newlox Gold Ventures Corp., states: "Impressive progress has been made in the Company's operations over the past few weeks. Our beefed-up operations team is cooperating with Newlox's technical advisors to meet or exceed the Company's objectives". "Adding real-time analytical testing will enhance Newlox's capabilities as it continues to deploy its business plan in Latin America", explains Mr Jackson.
With the completion of the design, construction, and commencement of operations at its first plant, and with a strengthened technical and operations team, Newlox Gold is advancing its previously stated plans to deploy its business model throughout Nicaragua where it has identified potential opportunities.
The Company's full-time on-site team conducting the engineering and commissioning activities noted herein include the following:
MSc. Gonzalo Ramirez, Process Engineer:
- Seasoned process engineer with vast experience in the analysis, design, construction, and management of mineral resource projects
- Responsible for the design and construction of several notable gold production facilities in Central and South America.
- Experienced process engineer including management of mining projects, the design of electromechanical equipment and spare parts, and project management.
- Expertise extends to equipment and systems design utilizing advanced software, excelling in the design of maintenance programs for heavy machinery using TPM and RCM methodology.
Roberto Montalba, Civil & Metallurgical Engineer:
- Experienced in metallic mining, including iron, copper, and especially, gold.
- Project director of processing operations for numerous projects utilizing recovery technologies including heap leach, CIP, CIC, CIL, and Merrill-Crowe.
- Conducted research and development in the technical and economic evaluation of projects through start-up and operation
- Participated in major projects in Central America and South America.
Dr Rolando Perera Molina, Metallurgical Engineer (QP):
- Metallurgical engineer and a graduate of the Universitatii Politehnica din Bucuresti with a masters of science degree in extractive metallurgy.
- Practised profession continuously since 1983 and has been involved in the invention, research, development, patenting, and manufacture of a series of metallurgical products, under his brand Perbols38.
- Involved during his career in the evaluation, design, and operation of mineral processing facilities and recovery systems similar to those utilized by Newlox Gold Ventures Corp.
- Member of the Costa Rican Association of Engineers (C.I.Q.P.A.), with the designation of Metallurgical Engineer.
About Newlox Gold Ventures Corp.
Newlox Gold Ventures Corp. is focused on recovering both contaminants and residual precious metals from historical waste remaining from a century of inefficient artisanal and small-scale mining in politically and socially stable jurisdictions in Latin America. The Company, guided by its advisors, has designed remediation technologies to recover deleterious materials remaining from historical artisanal mining practices and is deploying these systems in the field as part of the commissioning process.
Newlox has agreements with local artisanal mining cooperatives to provide a steady supply of feedstock and is currently commissioning its first processing plant in Central America under the supervision of the Company's experienced engineers and metallurgists. With hundreds of years of mining history in Latin America and inefficient artisanal processing continuing to this day, the Company believes that there is a compelling opportunity to expand its business model. 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 effect positive change in the environmental and social landscape in its targeted jurisdictions of 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 on 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., is a "Qualified Person" within the meaning of National Instrument 43-101 and has approved the contents of this News Release.
On Behalf of the Board, Newlox Gold Ventures Corp.
Contact Newlox
Ryan Jackson
Newlox Gold Ventures Corp., President
Telephone: +1 778 998 0867
Website: www.newloxgold.com
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