Business
Newlox Gold Announces Record Production
Vancouver, BC – TheNewswire - 8 July 2024 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE: LUX | Frankfurt/Stuttgart: NGO | PINK: NWLXF) is please
About this update from Newlox Gold Ventures Corp.
[{"type":"text","content":"Vancouver, BC – TheNewswire - 8 July 2024 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE: LUX | Frankfurt/Stuttgart: NGO | PINK: NWLXF) is pleased to announce that the Company has achieved its best production month to date. This milestone follows the successful implementation of metallurgical optimization processes at its Costa Rican Operations, particularly at its wholly-owned Project 1. This milestone follows favourable outcomes from the optimization program reported earlier this year (News Release 6 May 2024). Key highlights of this record-breaking achievement include: old recovery rates of up to 93% have been sustained at Plant 1, a significant enhancement over historical recovery rates and contributing to the highest monthly production in the Company's history. The record production amounts to 166.2 troy ounces (5,170 grams) of gold. he adoption of new environmentally friendly chemicalsreduced processing costs, which should be sustained on scale up and at future operations. Reduced grinding requirements have helped offset the effects of inflation without compromising efficiency nderscoring the effectiveness of the newly implemented processes. Looking forward, Newlox aims to build on this success through the following initiatives: Continuing research and development efforts to reduce material residency time within the circuit, further enhancing efficiency and driving down costs across all operations. Plant 2: Newlox Gold’s Boston Project recently started operations and is expected to deliver sustained operational growth throughout the year. Ryan Jackson, CEO of Newlox Gold Ventures Corp., commented, “Achieving record productivity in June is a positive milestone for the Company. Operational improvements, combined with favourable gold prices, are expected to significantly boost our revenue this year. Having completed the required electrical upgrades at our Costa Rican operations early this year, Newlox’s engineering team has been able to focus on productivity at Plant 1 and is on track to return to the exciting operational growth that we saw in the first half of last year. With Plant 2 now online, we expect to see productivity from the second processing plant contribute to sustained growth during the remainder of 2024. The positive economic contribution through use of environmentall...