Business
Newlox Gold Procures all Equipment for Plant 2 Electrical Upgrades
Vancouver, BC – TheNewswire - 20 December 2023 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE:LUX) (Frankfurt/Stuttgart:NGO) (OTC:NWLXF) is pleas
About this update from Newlox Gold Ventures Corp.
[{"type":"text","content":"Vancouver, BC – TheNewswire - 20 December 2023 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE:LUX) (Frankfurt/Stuttgart:NGO) (OTC:NWLXF) is pleased to announce that it has successfully procured all equipment needed to complete the planned electrical upgrade at its Boston Project (Plant 2) in Costa Rica. All necessary components are now on-site and in the Company’s possession. Of particular importance, given the global shortage of this equipment, is an electrical transformer, which has now been delivered and is awaiting installation on site. The delivery of this equipment represents a significant milestone in the Company’s operations. The Boston Project will soon benefit from connection to the Costa Rican grid, which is a stable and 98% renewable electricity system. The is slated to become the Company’s second environmentally and socially responsible precious metals project in Costa Rica. The Project will process feedstock newly extracted from the Boston Mine by the Company’s local mining partners. At full scale, Newlox will operate the new Boston mill to process 150 tonnes per day of material grading +- 15 grams per tonne gold with an anticipated gold recovery of 90%. All feedstock is to be provided by the Company’s mining partners, with profits to be split evenly between the parties. “Management is delighted to report that all the equipment required for the Plant 2 electrical upgrades, including the transformer, which is a potentially long lead time item, are now in the Company’s possession. Newlox Gold’s electrical contractors are now working on the installation of the equipment according to the electrical plan, which has been approved by local regulators. The Company will be providing updates to the market as this procedure advances,” commented Ryan Jackson, CEO of Newlox Gold Ventures Corporation. Forward-Looking Information The information in this news release includes 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 uncerta...