Vancouver, 22 April 2021 - Newlox Gold Ventures Corp.
("Newlox" or the "Company") (CNSX:LUX.CN) (Frankfurt/Stuttgart:NGO) (OTC:NWLXF) is pleased to provide an interim update on Stage 2 research and development of the environmentally friendly Organic Aqua Regia (OAR) gold leaching technology. This latest round of testing was based on strong results achieved for Stage 1 while further assessing the effects of temperature and time on the gold recovery process. The Newlox R&D team achieved very encouraging gold recoveries up to 98.77% during these most recent tests.
The Company is investigating the use of Organic Aqua Regia (OAR) technology as a non-toxic and water-free alternative to cyanidation for the recovery of gold, silver, and other precious metals. The multiple outstanding advantages of OAR include that it is non-toxic, is recyclable, extracts gold faster than cyanide, does not use water, and requires neither carbon nor electrowinning.
The first stage testing established that 94.68% gold dissolution is possible at ambient temperature, with nearly 100% recovery possible at 80 degrees Celsius. Stage 2 included analyses at various temperatures and diverse reaction times. This testing is essential for future economic calculations, which will weigh the reaction speed and overall efficiency against the cost of heating, to determine whether commercial units should operate at ambient temperature or with supplemental heating.
Additionally, because Newlox Gold's current operations are in Central America, the Company may benefit from the effects of natural higher ambient temperatures than were experienced in the laboratory in British Columbia, Canada.
Testing samples of artisanal tailings feedstock, collected at the Newlox Gold artisanal tailings remediation and precious metals recovery project in Costa Rica, indicated that approximately 95% gold dissolution is possible in 8 hours at ambient Costa Rica temperatures. These results were a significant improvement over Stage 1 testing when similar recoveries were achieved with a 24-hour reaction time.
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Figure 1. Gold Recovery at 50 Degrees Celsius
Recent tests reinforce data from Stage 1 showing that, while increased temperature does expedite reaction speed and overall recovery, levels of over 90% recovery can be achieved at ambient temperature. Heating is thus likely not necessary in a commercial setting.
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Figure 2. Effect of Temperature on Gold Recovery in 8 Hours
Stage 2 testing is also investigating the total amount of gold that can be held in solution by a given volume of OAR reagent. This is important since the volume of reagent needed to treat each tonne of feedstock will impact the scale and cost of future processing plants. This testing phase is currently underway using concentrated samples of feedstock collected from the first Newlox Gold project in Central America.
A Message from Ryan Jackson, President & CEO:
"We are delighted with the results from Stage 2 OAR testing by our Newlox R&D team. These results build on the extraordinarily positive findings of Stage 1. We look forward to furthering success as we continue testing this spring. With continued good results from the lab, we anticipate the commencement of in-field OAR testing this summer.
OAR leaching promises to become a paradigm-shifting technology applicable not only to the US$180 billion formal global gold mining industry but also as a method to bring the US$27 billion informal gold mining industry into the 21st century."
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 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).
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. Stewart A. Jackson, Ph.D., P.Geo., a "Qualified Person" within the meaning of National Instrument 43-101, has prepared, supervised the preparation of, and approved the contents of this News Release.
On Behalf of the Board, Newlox Gold Ventures Corp.
Contact Newlox Gold
Ryan Jackson, President
Newlox Gold Ventures Corp.
Phone: +1 778 738 0546