Newlox Gold Ventures (CSE: LUX) has reportedly seen continued progress on the development of its Boston Project, its second gold tailings processing facility within Costa Rica. The company this morning reported that construction is slated for completion within roughly two months.
The company has reportedly seen the delivery of crushing, milling, and precious metals recovery equipment to the site of the new processing plant. At full scale, the operation is expected to process 150 tonnes per day, with expected annual gold recoveries of 20,000 ounces, in addition to significant amounts of silver.
The completion of construction will then be followed by commissioning, testing, and commercialization of the plant. Presently, the project is on an expediated schedule relative to that of its first processing plant and is currently fully-permitted.
“We are delighted to report that construction at the Boston Project is proceeding according to plan. The project will provide local mining groups with access to modern mineral processing technology. [..] Newlox Gold has raised sufficient capital to fund its 2021 initiatives and remains on a solid footing to achieve its goals. This year will be a monumental one for Newlox Gold. We are completing the ramp-up of operations at the first processing plant as well as establishing our vision for organic growth through the deployment of additional artisanal mining focused facilities.”
Ryan Jackson, CEO of Newlox Gold
Newlox Gold last traded at $0.27 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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