| Vancouver, BC, 23 March 2021 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE: LUX | Frankfurt: NGO | PINK: NWLXF) is pleased to announce that the Company has started construction at the fully permitted and fully funded Boston Project, its second environmentally and socially positive precious metals project.
Newlox has designed this mill with the capability of processing 150 tonnes per day of material, grading approximately 15 grams gold per tonne. At full scale, Boston is expected to be capable of recovering approximately 20,000 ounces of gold per year as well as a significant quantity of silver.
The construction timeline is projected at three months to be followed by commissioning, testing, and commercialization. Such an expedited construction and commissioning schedule at Plant 2 is the result of both the fully permitted status, and its proximity to the artisanal mining operations, in addition to Newlox Gold’s unique expansion strategy. The Boston operations team will provide advisory, engineering, and support to the local miners to ensure efficient gold and silver recovery using environmentally positive technology free of mercury.
Earthmoving and construction work is already underway at Project 2 and is progressing satisfactorily. Because of its location, adjacent to the Company’s first processing plant, this project benefits from significant shared infrastructure. Management looks forward to an expedited construction timeline and will regularly update shareholders.
Boston brings with it a wealth of historical exploration and mining data. Newlox’s operations team has worked closely with the Company’s local mining partners in both planning and development work in anticipation of the commencement of construction.
This partner mining approach creates a coexistence model for artisanal mining, seeking to uplift local miners by providing access to modern and efficient processing technologies. Partner mining will improve local economic conditions while, notably, removing the common legacy of mercury-based processing technologies, which result in negative human and environmental consequences.
Newlox previously announced securing a net revenue-sharing agreement with an established artisanal mining syndicate with which management has a multi-year association. Net revenues after all production costs will be split 50/50 between the miners
and Newlox. The Company expects the Boston Project to significantly contribute to Newlox’s near-term growth.
By targeting small-scale projects with low capital requirements and expedited development timelines, the Company plans to grow rapidly in Latin America to encompass multiple projects. Boston will be a model for the artisanal mining sector.
A Message from Ryan Jackson, President & CEO:
“Precious metals are an integral part of local heritage and traditions and continue to be mined today for both economic and cultural reasons. Now, for the first time since the ancient introduction of the mercury amalgamation process, artisanal gold and silver will be recovered without the use of mercury and its associated environmental damage. We are honoured to have been invited to partner with the local mining groups in the Juntas Gold Camp and are looking forward to strengthening our associations through this new cooperative venture.
Project 2, Boston, will significantly contribute to the local economy’s sustainable development while solving a decades-old environmental and social dilemma for all local stakeholders’ benefit. The project not only supplements production at Newlox’s first processing plant but also constitutes a decisive second step in Newlox’s plan to build a portfolio of environmentally positive gold projects throughout Central and South America.” |
Newlox Gold Starts Construction at Plant 2
