Newlox Gold Ventures (CSE: LUX) this morning provided the market with an update on ongoing research it is conducting related to environmentally friendly gold leaching technology. Recent tests have demonstrated gold recoveries as high as 98.77%.
The company has developed a process referred to as Organic Aqua Regia, or OAR, which is a non-toxic and water free alternative to cyanidation for recovering gold, silver, and other precious metals from feedstock. The process extracts gold faster while also being more environmentally friendly.
Stage two testing of the process is well underway, following successful stage one tests that resulted in 94.68% gold recoveries at ambient temperatures over a period of twenty four hours. Stage two has seen that time frame reduced down to eight hours, while seeing gold recoveries remain at 95% at ambient temperatures. While higher recoveries can be seen at higher temperatures, heating the solution is not always economical.
“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.”
Ryan Jackson, CEO of Newlox Gold
The company is currently continuing with stage two testing of the process, with the firm currently focused on the amount of reagent required for the solution to work effectively. Testing is being conducted with sample feedstock from the firms first project in Costa Rica.
Newlox Gold last traded at $0.29 on the CSE.
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