Vancouver, BC – TheNewswire – 15 October 2020 – Newlox Gold Ventures Corp. ("Newlox" or the "Company") (CSE:LUX) (CNSX:LUX.CN) (Frankfurt/Stuttgart:NGO) is pleased to provide an update on the Organic Aqua Regia (OAR) testing underway at the recently established Newlox Research and Development’s laboratory. The Company is investigating Organic Aqua Regia (OAR) technology as a non-toxic and water-free alternative to cyanidation for the production of gold and other precious metals. While OAR is currently in Stage 1 testing at the Company’s laboratory, preliminary results are very encouraging.
OAR is being developed in conjunction with the University of British Columbia in Canada and Chiba University in Japan for the leaching of gold with an organic reagent that is both non-toxic and widely used in other industries. The reagent price is comparable to sodium cyanide, the conventional gold mining industry reagent. The main advantages are that it is non-toxic, is recyclable, extracts gold faster than cyanide, does not use water, and does not require carbon or electrowinning.
Recent OAR tests conducted by Newlox on high-grade gold ore samples have returned gold recoveries above 90% when conducted at ambient temperature and pressure. Testing is currently underway to investigate the effect of both temperature and reagent concentration on the leaching mechanics.
A Message from Ryan Jackson, President & CEO:
"During a recent visit to the laboratory by management, the research and development team presented preliminary results from Stage 1 testing. We were delighted to hear that the first round of testing delivered over 90% gold recovery, using the cutting-edge OAR leaching technology.
This initial round of testing is part of Newlox R&D’s 12-month OAR development program, and we are delighted to have already realized such positive results. Stage-1 testing is still underway, and we are looking forward to reporting the detailed results of this program as they become available.
OAR leaching could be 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.
Newlox Gold Ventures Corp., President
Phone: +1 778 738 0546
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