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Figure 1. Newlox Gold’s Year in the Market
Highlights of the year include:
-Established Gold Production at Processing Plant 1
-Completed an Oversubscribed Operational Private Placement in
June 2020 -Accelerated Expansion Plans at
Fully-Permitted Boston Project -Completed Historical Geological Review of both the
Boston Project and Juntas Gold Camp-
Formalized Research & Development Program intoSubsidiary Company ;Newlox Research & Development Corp. -Achieved 90% gold recovery during lab tests using proprietary Organic Aqua Regia (OAR) non-toxic gold leaching technology
-Overcame COVID-19 Related Closures to Restart Gold Production at Processing
Plant One -Significantly Upgraded Plant Infrastructure to Support Growth
-Implemented Successful Market Awareness Campaign
-Joined CSE Composite Index
-Completed
$4 Million Financing for 2021
The Company began the year with a recently updated processing plant actively recovering gold and silver. The ramp-up of plant operations began in the spring of 2020 with the goal of achieving full-scale operation during the year.
To support the ramp-up at Plant 1,
Like many of its peers,
The new, larger site facilitates future growth, while accommodating both the Company’s enhanced laboratory and basecamp. The new location reduces transportation costs, enhances project logistics, facilitates production growth, and increases site security. Additionally, the new location is outside of the local municipal limits, in a less densely populated area, alleviating COVID-19 related concerns and enhancing personnel safety.
Additionally,
Newlox plans the
Operational progress has been accompanied by the Company formalizing its research and development efforts into
Newlox is developing OAR with both the
OAR testing by Newlox on high-grade gold ore samples returned gold recoveries above 90% under ambient temperature and pressure. Testing continues on the effect of both temperature and reagent concentration on the leaching mechanics.
Tremendous potential is envisaged for this new leaching methodology which could be a paradigm-shifting technology applicable not only to advance the
The current bull market for resources and the rapid progress made in operations, allows Newlox’s recently initiated market awareness program to be highly effective and has resulted in increased liquidity and share price appreciation. The Company was proud to be inducted to the CSE Composite Index in October of 2020.
Going Forward 2021
The Company plans to commission Plant 2, the
The Newlox technical team is also evaluating an enticing pipeline of potential expansion projects and intends to announce the Company’s third project in Spring of 2021.
Management anticipates 2021 will be a milestone year for the Company defining
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Forward-Looking Information
The information in this news release may include 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.
On Behalf of the Board,
Contact Newlox
Website: www.newloxgold.com
Email: ryan@newloxgold.com
Phone: +1 778 738 0546
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