Newlox Gold Initiates Expansion into Colombia

About this update from Newlox Gold Ventures Corp.

[{"type":"text","content":"Vancouver, BC – TheNewswire - 18 July 2022 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE:LUX) (Frankfurt/Stuttgart:NGO), (OTC:NWLXF) is pleased to announce expansion into Antioquia, Columbia with a new environmentally and socially responsible project. Multiple trips to South America in the first half of this year, culminated in the selection of an ideal site to deploy the Company’s third environmentally and socially positive precious metals recovery plant. Newlox Gold initiated engineering and environmental impact work at the site and will be providing further updates in the coming months. Colombia is an incredibly resource rich country that has produced approximately 80 million ounces of gold since pre-Colonial times while modern exploration has discovered over 100 million ounces in the last ten years. In addition to the formal gold industry, an estimated 350,000 people work directly in the artisanal and small-scale gold mining field in Colombia accounting for over 85 percent of the country’s annual gold production. During a due diligence mission to the area this spring, Newlox’s operations and corporate team were impressed with the scale of artisanal mining in the area as well as large scale processing facilities operated by local and multinational resource companies. With guidance from several members of the Newlox Gold team with experience in the Colombian mining sector, the Company selected an area in Antioquia province where a large population of artisanal miners have little access to modern processing technology and capital. These miners will benefit from Newlox Gold’s partner mining model and have already expressed great interest in partnership with the Company during a market study in the area by Newlox Gold’s local engineering consultants. The recently conducted study revealed that up to 60,000 artisanal miners are operating in the area at over 1,664 mining sites. Local demand for toll milling was found to be strong with miners operating at a scale to justify the deployment of a Newlox processing plant. Following positive results of the market study in early July, Newlox initiated the permitting process for construction of a 250 to 1,000 tonne per day processing facility to process gold bearing material from local artisanal miners. Currently the Company is undertaking hydrological, environmental, geotec...

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