Newlox Gold Ventures Corp. press release
Operations Update
CSE - Canadian National Stock Exchange · Gold · Silver · Canada
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(via Thenewswire.ca)
Vancouver, BC / TNW-ACCESSWIRE / 16 December 2014 / Newlox Gold Ventures Corp. ("Newlox" or "the Company") (CSE: LUX, XETRA(R): NGO) is pleased to provide an update on progress being made at its initial gold concentrate production facility which was commissioned in September of 2014.
Following a financing in late November of 2014, Newlox has embarked on an expansion program at the Company's first processing centre which, when completed, will increase throughput capability from 40 tonnes per day to 80 tonnes per day, effectively doubling gold concentrate production.
Expansion of the plant has included the addition of a new mixing tank, installed to twin the first stage of the processing flowchart, a new conveyor to increase the rate and efficiency of ore loading, and a new hydrocyclone to boost efficiency. The addition of two cells to the flotation infrastructure as well as the installation of a new much larger gravity concentrator should be completed during the fourth quarter marking the completion of the expansion program. Limited production of concentrate has continued during the upgrade process, growing the inventory of stockpiled concentrate to approximately 4 tonnes.
Simultaneously, the Company has begun the construction of a wholly owned beneficiation facility which will convert concentrates produced at the Company's current and future processing centers into gold dore for sale. The facility is located at a new site which will facilitate easy transport of concentrate from the company's current and future concentrate plants in Central America.
The Company has identified, with the help of UBC, an intensive process, which will reach high levels of efficiency while reducing costs and complexity when compared to traditional leaching techniques. The process uses an oxidizer to accelerate the leaching process as well as ensureing that undesirable elements are destroyed in the reaction, resulting in clean effluent. In addition, reagents used in the elution and Merrill-Crowe stages are recycled, lowering costs and protecting the environment.
Rapid leaching technology will allow for a small plant to process many batches of concentrate. The utilization of truly modern leaching technology allows a small circuit to "punch above its weight class" providing sufficient capacity while keeping capital and operating costs low.
When completed, the expanded plant and new beneficiation facility is estimated to yield 16 ounces of gold per day. Dore production will be further enhanced as the Company develops additional projects which have been identified in the region.
About Newlox Gold Ventures Corp.
Newlox Gold Ventures Corp. is a new gold processing and trading company pursuing precious metal related business opportunities in Latin America.
The company is producing gold concentrate in Latin America where management have secured access to multiple stockpiles of high grade gold bearing feed material. With the material deposited on surface, the operation is achieving remarkably low production costs given that exploration, mining and crushing, the most expensive portions of a traditional gold producing operation, are entirely unnecessary.
The Company's first processing plant is in the final stages of an expansion, which will double throughput. Management anticipate the operation will rapidly deliver positive cash flow, which will be put to work, supporting organic growth in the region.
The longer term objective of Newlox Gold Ventures Corp. is to establish a dividend paying enterprise which will allow its shareholders to not only participate in equity value growth but also to share in profits, all the while contributing to an environmental clean-up effort and setting a high standard of social responsibility.
Website: www.newloxgold.com
Ryan Jackson, President Tel: +1 778 998 0867
Email: ryan@newloxgold.com
On Behalf of the Board, Newlox Gold Ventures Corp. Email: info@newloxgold.com
Statements in this news release may be viewed as forward-looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. There are no assurances the company can fulfill such forward-looking statements and the company undertakes no obligation to update such statements. Such forward-looking statements are only predictions; actual events or results may differ materially as a result of risks facing the company, some of which are beyond the company's control.
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