Newlox Gold (CSE: LUX) is continuing to progress towards operating its second production facility. The company this morning announced that its local partners have begun preparing the Boston Mine adits for expanded production at the site.
The mine is being refurbished in advance of supplying raw feedstock for Newlox’s new Boston processing plant. The plant will look to provide both artisanal tailings remediation and precious metal recovery, while the firm also provides advisory, engineering, and processing support for efficient gold and silver production.
The processing plant, which will be Newlox’s second, is now fully permitted and in advanced stages of development. Commissioning of the facility is currently slated to occur in the second quarter of this year. At full scale, the facility is slated to process 150 tonnes per day of feedstock, at an average grade of 15 grams per tonne gold.
Newlox will then see net revenues and production costs split equally between the artisanal miners and the company, with the project expected to contribute significantly to near term growth for the firm.
“We are delighted to see our local partners refurbishing and upgrading their mines in anticipation of the commissioning of the new processing facility. By providing access for local mining groups to modern mineral processing technology, Newlox will empower local miners to enhance their economic, social, and environmental circumstances while advancing our Company’s growth strategy.”
Ryan Jackson, CEO of Newlox Gold
Newlox Gold last traded at $0.34 on the CSE.
FULL DISCLOSURE: Newlox Gold Ventures Corp is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Newlox Gold Ventures Corp on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
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