Sun Summit Provides Exploration Update; Visible Gold Identified in Numerous Drill Holes
Sun Summit Minerals Inc. (TSXV: SMN) (OTC: SMREF) (“Sun Summit” or the “Company”) provides an update on the Company’s current exploration drill program at its 100% controlled Buck Property, north-central British Columbia. Since mobilization of crews, Sun Summit has completed 10 drill holes for over 4,000 metres focused on investigating zones of high-grade and bulk-tonnage style gold mineralization. Drilling will continue to test these targets as well as other targets going forward.
Highlights
- Five out of 10 drill holes intersected zones of visible gold mineralization in a new and highly-prospective area between the Horseshoe and Trench zones.
- Metallic screen fire assay analyses of visible gold-bearing samples from discovery hole BK20-012 demonstrates a local increase in gold grade compared to traditional fire assay methods.
- Regional exploration targets within the 33,000-hectare land package are being refined and prioritised.
Bob Willis, Sun Summit’s CEO, stated, “Our current drill program at Buck is on track to achieve all three goals we initially set for the team. These goals are targeting high-grade gold mineralization peripheral to our discovery hole, testing newly identified chargeability anomalies, and investigating the strike extent of near-surface breccia-hosted mineralization.”
“The fact that 50% of our drill holes so far have cut zones of visible gold mineralization attests to the significance of our discovery and the high-grade potential of the area between the Horseshoe and Trench zones. All holes have intersected mineralized zones similar to those that reported gold in earlier campaigns.”
“Buck contains a large-scale system created by multiple mineralizing events that have deposited gold in several environments. It will take more drilling to fully explore Buck’s multiple gold zones, but we are very pleased with what we are seeing as work progresses. Furthermore, based on results from our metallic screen study, we are now systematically and selectively using the metallic screen method to fully evaluate the gold grade of these significant zones. We look forward to presenting assays from this drill phase.”
Drill Program
Sun Summit has now completed 10 diamond drill holes in the Company’s fully-funded 2021 program, previously announced on February 9th, 2021. Drill holes to date have tested areas peripheral to the high-grade intersections of the discovery hole BK20-012 (e.g., 17 metres of 5.86 grams per tonne (g/t) gold including 3 metres of 23.05 g/t gold, and 7.5 metres of 10.19 g/t gold; see the Company’s news release dated January 5th, 2021), as well as areas along strike and down-dip from the near-surface breccia hosted mineralization intersected in numerous holes in 2020 (e.g., BK20-006; 46 meters of 1.12 g/t gold equivalent (AuEQ); see the Company’s news release dated January 5th, 2021). Samples from the first four holes are in the analytical lab and results will be released once they are received, modelled, and interpreted.
Visible gold has been identified in five of the 10 holes drilled to date. Gold is associated with discrete sphalerite + pyrite + quartz + carbonate veins and also in sulfide cemented breccias (Figure 1). Vein- and breccia-controlled mineralization is hosted in pervasively silica and sericite altered volcaniclastic rocks and locally porphyritic dacitic intrusions. The presence of sub-millimetre to millimetre-scale visible gold in numerous drill holes covering a distance of at least 300 metres east-west, demonstrates the high-grade gold potential of the structurally complex hydrothermal system at Buck. Additional drilling is focusing on investigating the true orientation and thickness of this newly interpreted high-grade gold mineralized corridor.
Figure 1. Photos of key mineralization textures and sulfide assemblages. A. quartz + pyrite + gold vein cutting altered volcanics (BK-21-021 at 326m), B. sphalerite + carbonate + gold vein cutting altered dacitic intrusion (BK21-023 at 132.5m), C. sphalerite + pyrite + gold bearing breccia cement (BK21-017 @ 137.5m), and D. parallel sphalerite bearing veins cutting pervasively altered volcanics (BK21-021 at 147.5m). Abbreviations, py = pyrite, sph = sphalerite, cpy = chalcopyrite and carb = carbonate.
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Metallic Screen Fire Assay
Results from the selective metallic screen study have been received. Sample C355022 reported an increase in grade from 49.6 g/t gold (Au) by traditional 30 gram fire assay (ALS Au-AA23 method) to 141 g/t Au by the metallic screen method (ALS Au-SCR21). The results suggest that metallic screen methods should be performed on drill core samples containing visible gold. These methods utilize a larger sample and a tailored preparation procedure to systematically capture native gold, thus providing a more robust estimate of gold grade. A summary of metallic screen results from all samples with logged visible gold is shown in Table 1. Sun Summit is using these data to modify its analytical workflow for all samples with logged visible gold or samples that return >5 g/t Au by traditional fire assay.
Table 1. Metallic screen fire assay data from BK20-012 intervals with visible gold
Fire Assay | Metallic Screen | ||||
Au-SCR21 | Au-SCR21 | Au-SCR21 | |||
Length | Au-AA23 | Au Total (+)(-) Combined | Au (+) Fraction | Au (-) Fraction | |
Sample | (m) | (g/t) | (g/t) | (g/t) | (g/t) |
C318455 | 1.5 | 31.4 | 26.3 | 79.5 | 22.7 |
C318456 | 1.5 | 14.7 | 14.7 | 29.7 | 13.7 |
C318466 | 1.5 | 19.1 | 14.4 | 147 | 4.20 |
C355022 | 1.5 | 49.6 | 141.0 | 1160 | 71.2 |
C355042 | 1.0 | 6.96 | 7.41 | 5.24 | 7.66 |
Quality Assurance and Quality Control
Coarse reject material from drill hole BK20-012 was dispatched from the Yellowknife, NT-based ALS Global preparation facility to the ALS Global analytical laboratories in North Vancouver, BC, for metallic screen fire assay. There, a one kilogram sample was passed through a 100 micron screen (Tyler 150 mesh). Any +100 micron material was retained and analysed completely by fire assay with a gravimetric finish (+ fraction result in Table 1). The -100 micron fraction was homogenized, and two sub-samples are analyzed by fire assay with AAS (atomic absorption spectroscopy) finish (Au-AA25 and Au-AA25D). The average of the two AAS results is reported as the Au (-) fraction in Table 1. All three values are then used to calculate the combined gold content of the (+) and (-) fractions (Au total in Table 1).
Property-scale Exploration
Sun Summit is planning a significant regional exploration program to rigorously investigate existing gold-silver targets and to define new targets across the 33,000-hectare land position. Central to this land package is an approximately 24 kilometre long, northwest-trending, fault-bound belt of Late Cretaceous Kasalka Group volcanic and volcaniclastic rocks, host to epithermal-related mineralization at Buck. Kasalka Group volcanic rocks also host bulk-tonnage epithermal-related mineralization at the Blackwater and Capoose Au-Ag development projects of Artemis Gold Inc. (Angen et al., 2018).
The Company is currently compiling all regional (e.g., geology, stream sediment and till geochemistry) and project-scale historic data (e.g., ground, and airborne geophysics, soil and rock geochemistry) to better define areas of interest in these prospective, yet under-explored rocks. Exploration plans for this summer will be released once budgets are set and targets are ranked and prioritized.
Community Engagement
Sun Summit is working to engage with First Nations whose territory includes the Buck Property, to discuss their interests and identify contract and work opportunities, as well as opportunities to support community initiatives. We look forward to continuing to work with local and regional First Nations as the project continues.
Buck Property
The recently expanded 33,000-hectare property, approximately 12 kilometres south of Houston, British Columbia, has excellent nearby infrastructure and allows for year-round road-accessible exploration.
National Instrument 43-101 Disclosure
This news release has been approved by Sun Summit’s CEO, Robert D. Willis, P. Eng. a “Qualified Person” as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has also verified the data disclosed, including sampling, analytical and test data, underlying the technical information in this news release.
Health and Safety
The Company’s exploration programs are being carried out in full compliance with federal, provincial, and municipal guidelines established in response to the global COVID-19 pandemic. Sun Summit has a rigorous infection prevention and control protocol in place to protect the health of employees and contractors, as well as surrounding communities in which the Company works.
About Sun Summit
Sun Summit Minerals Corp. (formerly San Marco Resources Inc.) is a Canadian mineral exploration company actively pursuing world class gold and silver projects with a focus in mining friendly jurisdictions.
The Company’s principal focus is the Buck Property in north-central British Columbia that has bulk-tonnage gold and silver potential. The property is located in a mining-friendly region that includes many formerly operating mines and current exploration projects.
Sun Summit is committed to environmental and social responsibility with a focus on responsible development to generate positive outcomes for all stakeholders.
Further details are available at www.sunsummitminerals.com
References
Angen, J.J., Hart, C.J.R., Kim, R.S., and Rahimi, M. (2018): Geology and Mineral Potential of the TREK Area, Northern Interior Plateau, Central British Columbia, Parts of 1:250,000 NTS Sheets 093B, C, F and G; Geoscience BC Report 2018-12, MDRU Publication 411.175 p.
Additional Figure
Buck Drill Hole Locations
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- Published in Mining, News Home, San Marco Resources
Newlox Gold Achieves Best Productivity to Date
Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (C NSX : LUX . CN ) ( Frankfurt/Stuttgart: NGO ) (OTC : NWLXF ) is pleased to announce that the Company has achieved its highest level of productivity to date at its first environmental remediation and precious metals project.
Newlox Gold raised $4 million through a private placement financing , putting the Company in a sound financial position at the beginning of the New Year. The initial application of a portion of such funds has been to commercialize its first environmental remediation facility – Project 1.
The Company previously reported precious metal recovery and sales revenue in its financial statements; however, those figures were derived from metals produced during the development and testing stages. In early 2021 Newlox Gold transitioned to commercial operation, with productivity increasing according to plan. This plant is projected to process 80 tonnes per day of tailings feedstock at full-scale operation to yield approximately 6,500 ounces of gold per year.
Management plans to commission Plant 2 in the second quarter of 2021 to attain full-scale operations by year-end. Plant 2 at full scale will process 150 tonnes per day of feedstock to yield 20, 000 ounces of gold per year. Development work is advancing according to plan, and management will provide further details on construction shortly .
The Newlox team will continue to inform shareholders and interested parties of overall corporate and business matters, including expansion plans. Newlox Gold will be reporting earnings as part of its quarterly statements as steady-state operations are achieved. Management looks forward to delivering a robust growth curve, starting with the current commercialization of Project 1, and continuing through and beyond the commissioning and ramp-up of operations at Project 2.
A Message from Ryan Jackson, President & CEO:
“We are delighted to report that Newlox Gold’s first environmental remediation and precious metals recovery plant has attained its highest level of productivity to-date. We wish to acknowledge the diligent efforts of our operations team in bringing the Company to this milestone.
While current market conditions show some weakness, we believe that Newlox benefits from a core group of highly supportive shareholders who have great conviction over the long term. Although the gold price is down, it is significantly above the levels applied in our economic models and remains far above our requirements to grow the business.
We are at an early stage in advancing our growth strategy, and we are looking forward to delivering quarter-after-quarter of growth not only from Project 1, but also from the upcoming Project 2, and further from a robust pipeline of expansion opportunities currently in due diligence.”
Forward-Looking Information
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).
Technical Disclaimer
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
Newlox Gold Ventures Corp., President
Website: www.newloxgold.com
Email: ryan@newloxgold.com
Phone: +1 778 738 0546
Register for Newlox’s Biweekly New Investor Conference Call
- Published in Mining, Newlox Gold, News Home
Granada Gold Discovers High Value Rare Earth and Alkali Metals
Granada Gold Mine Inc. (TSXV: GGM) (the “Company” or “Granada”) is pleased to announce the significant discovery of Scandium (Sc), Rubidium (Rb), and Cesium (Cs) on the Big Claim of the Granada Gold Mine property, in Quebec, Canada.
Results are preliminary and full core lengths have not yet been assayed in two holes drilled at the north of the Big Claim. The company encountered unusual facies of altered rock which has been sampled in portions of the drill core. The mineralized portions of the core have been assayed for 56 metals. Additional assays are pending. Portions of drill holes GR-20-20 and GR-20-22 were sampled. Assays for GR-20-22 are still pending. Based on recent assays for intervals sampled, the intervening intervals are being sent for assay to create a complete picture.
Highlights of drill hole GR-20-20:
- 13.5 ppm Cs, 101.8 ppm Rb, 21.0 ppm Sc over 12.0 meters from 351.0 meters to 363.0 meters
- 3.5 ppm Cs, 69.1 ppm Rb, 13.8 ppm Sc over 98.0 meters from 451.0 meters to 549.0 meters
- 1.1 ppm Cs, 42.1 ppm Rb, 12.2 ppm Sc over 15.0 meters from 573.0 meters to 588.0 meters
Core lengths represent approximately 40 percent true width.
The potential value of the rare earths and alkali metals per ppm in US dollars is as follows
- Cesium (Cs) US Dollars 63 per ppm
- Rubidium (Rb) US Dollars 16.08 per ppm
- Scandium (Sc) US Dollars 186 per ppm
- Gold (Au) US Dollars 56 per ppm
- Silver (Ag) US Dollars 0.84 per ppm
Commodity price sources:
- Institute of rare earths and strategic metals
- USGS 2021 and 2020 reports
- Alfa Aesar
The company is reassured by significant results coming from 2 independent laboratories where NQ core samples of hole GR-20-20 and GR-20-22 were analysed at ALS and NQ core samples of hole GR-20-22 were analysed at SGS.
The company will proceed with sampling of the entire hole to enable disclosure of mineralized lengths associated with grades as well as investigation on the mineralogy as the grades of interest are not confined to one geological unit.
Co-ordinates of these holes have been determined by handheld GPS and will be surveyed in spring.
GR-20-20: 645 968E, 5 339 544N, 292Z, Azimuth 183N, Dip -86 and length 588m
GR-20-22: 647 624E, 5 339 218N, 291Z, Azimuth 360N, Dip -65 and length 1,600m
QA/QC
The insertion of blanks and standards by the technical team in the program were aimed at gold. However, the laboratory QA/QC results for these anomalous elements at both laboratories are in line with their expected values thereby allowing the public disclosure of the values.
Qualified person
The technical information in this news release has been reviewed by Claude Duplessis, P.Eng., GoldMinds Geoservices Inc. member of Québec Order of Engineers and a qualified person in accordance with National Instrument 43-101 standards.
Cesium
Cesium metal is used in the production of cesium compounds and potentially in photoelectric cells. Cesium-bromide is used in infrared detectors, optics, photoelectric cells, scintillation counters, and spectrophotometers. Cesium carbonate is used in the alkylation of organic compounds and in energy-conversion devices, such as fuel cells, magneto-hydrodynamic generators, and polymer solar cells. Cesium chloride is used in analytical chemistry applications as a reagent, in high-temperature solders, as an intermediate in cesium metal production, in isopycnic centrifugation, as a radioisotope in nuclear medicine, as an insect repellent in agricultural applications, and in specialty glasses. Cesium-hydroxide is used as an electrolyte in alkaline storage batteries. Cesium-iodide is used in fluoroscopy equipment—Fourier-transform infrared spectrometers—as the input phosphor of x-ray image intensifier tubes, and in scintillators. Cesium-nitrate is used as a colorant and oxidizer in the pyrotechnic industry, in petroleum cracking, in scintillation counters, and in x-ray phosphors. Cesium sulfates are soluble in water and are thought to be used primarily in water treatment, fuel cells, and to improve optical quality for scientific instruments.
Rubidium (Alkali Metal)
Applications for rubidium and its compounds include biomedical research, electronics, specialty glass, and pyrotechnics. Specialty glasses are the leading market for rubidium; rubidium carbonate is used to reduce electrical conductivity, which improves stability and durability in fiber optic telecommunications networks. Biomedical applications include rubidium salts used in antishock agents and the treatment of epilepsy and thyroid disorder; rubidium-82, a radioactive isotope used as a blood-flow tracer in positron emission tomographic imaging; and rubidium chloride, used as an antidepressant. Rubidium atoms are used in academic research, including the development of quantum-mechanics-based computing devices, a future application with potential for relatively high consumption of rubidium. Quantum computing research uses ultracold rubidium atoms in a variety of applications. Quantum computers, which have the ability to perform more complex computational tasks than traditional computers by calculating in two quantum states simultaneously, were expected to be in prototype phase by 2025. Rubidium’s photoemissive properties make it useful for electrical-signal generators in motion-sensor devices, nightvision devices, photoelectric cells (solar panels), and photomultiplier tubes. Rubidium is used as an atomic resonance-frequency-reference oscillator for telecommunications network synchronization, playing a vital role in global positioning systems. Rubidium-rich feldspars are used in ceramic applications for spark plugs and electrical insulators because of their high dielectric constant. Rubidium hydroxide is used in fireworks to oxidize mixtures of other elements and produce violet hues. (source USGS)
Scandium (Rare Earth)
Is a strategic mineral in the province of Quebec as declared in the Critical & Strategic Mineral policy of the government of Québec to support the green development plan.
About Granada Gold Mine Inc.
Granada Gold Mine Inc. continues to develop the Granada Gold Property near Rouyn-Noranda, Quebec. Approximately 120,000 meters of drilling has been completed to date on the property, focused mainly on the extended LONG Bars zone which trends 2 kilometers east-west over a potential 5.5 kilometers of mineralized structure. The highly prolific Cadillac Break, the source of more than 75 million plus ounces of gold production in the past century, cuts through the north part of the Granada property, but is not necessarily indicative of mineralization hosted on the company’s property.
The Granada Shear Zone and the South Shear Zone contain, based on historical detailed mapping as well as from current and historical drilling, up to twenty-two mineralized structures trending east-west over five and a half kilometers. Three of these structures were mined historically from four shafts and three open pits. Historical underground grades were 8 to 10 grams per tonne gold from two shafts down to 236 m and 498 m with open pit grades from 3.5 to 5 grams per tonne gold.
Updated Mineral Resource
The updated resource at the Company’s Granada Gold project in Rouyn-Noranda, Quebec was estimated by SGS Canada and outlined in a January 29, 2021 news release. The final report was filed March 15, 2021 with an Effective date of December 15, 2020. The 43-101 Technical Report is titled: Granada Gold Project Mineral Resource Estimate Update, Rouyn-Noranda, Quebec, Canada authored by Yann Camus, P.Eng. and Maxime Dupéré, B.Sc, géo. Both of SGS Canada Inc.
Updated Mineral Resource Estimate Base Case with Details Between the Open Pit Portion and the Underground Portion
Type | Category | Tonnes | Au (g/t) | Gold Ounces |
In Pit | Measured1 | 3,756,000 | 1.89 | 228,000 |
Indicated | 1,357,000 | 2.55 | 111,000 | |
Measured+Indicated | 5,113,000 | 2.06 | 339,000 | |
Inferred | 34,000 | 11.29 | 12,000 | |
Underground | Measured | 37,000 | 4.22 | 5,000 |
Indicated | 807,000 | 4.02 | 104,000 | |
Measured+Indicated | 844,000 | 4.03 | 109,000 | |
Inferred | 1,244,000 | 6.33 | 253,000 |
1. | Cut-off grades are based on a gold price of US$1,600 per ounce, a foreign exchange rate of US$0.76 for CA$1, a gold recovery of 93% |
2. | Pit constrained mineral resources are reported at a cut-off grade of 0.9 g/t Au within a conceptual pit shell |
3. | Underground mineral resources are reported at a cut-off grade of 3.0 g/t Au within reasonably mineable volumes |
The Company is in possession of all mining permits required to commence the initial mining phase, known as the “Rolling Start”, which allows the company to mine up to 550 tonnes per day. Additional information is available at www.granadagoldmine.com.
“Frank J. Basa”
Frank J. Basa P. Eng.
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE Granada Gold Mine Inc.
View original content: http://www.newswire.ca/en/releases/archive/March2021/23/c9230.html
Contact:
Frank J. Basa, P. Eng., President and CEO at 1-819-797-4144 or Wayne Cheveldayoff, Corporate Communications, at 416-710-2410 or waynecheveldayoff@gmail.com
- Published in Granada Gold Mine, Mining, News Home
Newlox Gold Welcomes Tarrnie Williams to the Advisory Board
Vancouver, BC – TheNewswire – 1 8 March 2021 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (C NSX : LUX . CN) ( Frankfurt/Stuttgart: NGO ) ( OTC : NWLXF ) is pleased to welcome Tarrnie Williams to the Company’s advisory board. Tarrnie is a highly experienced executive who has served on the board of several successful public and private companies over his 50-year business career. Tarrnie’s involvement in the development and commercialization of technology companies, including founding Canada’s first public software company and experience as CEO of Electronic Arts Canada, will be instrumental in developing Newlox’s emerging green mining technology division.
Tarrnie holds a B.Sc. in Mathematics (U of Alberta) and has been a Director of several public, private, and not-for-profit organizations, including having served as Chairman, President and Audit Chair of several public companies over his long and varied career. Tarrnie has had significant hands-on experience in project management, mergers, acquisitions, divestitures, restructurings, private and public placements of equity and debt, and IPO transactions and served for ten years as an Adjunct Professor at the Sauder School of Business, University of British Columbia.
Presently, Tarrnie holds the position of Executive Chairman of Kidoz Inc. (TSXV: KIDZ ); a kid-tech software developer and owner of the KIDOZ Safe Ad Network reaching over 300 million children monthly through a curated online experience. Tarrnie’s position at Kidoz is a continuation of his illustrious career in the technology sector, and we are excited for him to bring his experience and enthusiasm to Newlox Gold.
A Message from Ryan Jackson, President & CEO:
“We are pleased to welcome Tarrnie Williams to Newlox Gold’s advisory board. Tarrnie is a strong supporter of Newlox Gold and has already offered valuable advice to the Company drawn from his wealth of experience. Tarrnie is best known for his successful ventures in the tech industry, resulting in his recognition as the “God Father of Video Games” in Canada by DigiBC with their Lifetime Achievement Award . Tarrnie has led or mentored multiple business ventures, including companies in the resource sector in the past. The combination of his ability to advance technology companies with his knowledge and passion for the resource industry is a significant asset to Newlox Gold.”
Forward-Looking Information
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).
Technical Disclaimer
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
Newlox Gold Ventures Corp., President
Website: www.newloxgold.com
Email: ryan@newloxgold.com
Phone: +1 778 738 0546
- Published in Mining, Newlox Gold, News Home
Progress Update on Bench-Scale Pilot Plant Processing of Mineralized Material from the Cobalt Camp
COQUITLAM, BC, March 17, 2021 /CNW/ – Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to release preliminary bench-scale results on flotation tests on the Beaver Tailings being done at SGS Lakefield, Ontario, Canada.
Highlights
- First stage, flotation test rougher concentrate grades are 2,559 grams per tonne silver, 0.28 percent cobalt and 0.072 percent nickel.
- Concentration ratios for the first stage flotation test rougher concentrate are 23.5 for silver, 14 for cobalt, and 5.5 for nickel.
- Excellent preliminary, first stage flotation test rougher concentrate recoveries are 61 percent for silver, 43 percent for cobalt and 21 percent for nickel.
The bench-scale test work has yielded excellent results in producing a first concentrate for Re-2Ox processing into a direct end-product to EV battery manufacturing. The initial test work was undertaken on 50 kilograms of tailings from drill core samples of the Beaver Tailings. Further test work will be undertaken for optimization of grade and recoveries.
The overall test program is expected to take six months from bench-scale to pilot plant for the Stage I program. The program is designed to produce concentrates from hard rock mineralized material from the Castle Mine and from tailings from the Castle and Beaver mines, and to process spent Li-ion, Nickel Cadmium, Nickel Hydride batteries using the Re-2Ox process. Upon completion of the Stage I program, an assessment will be undertaken on the direction the company will undertake for further testing and pilot plant studies.
Frank J. Basa, P.Eng., CEO, commented, “The core of the ability to meet EV battery manufacturers’ needs, is a metallurgical process that can treat primary feeds and secondary feeds equally well into final end-user products. As the company has already produced cobalt sulfate from hard rock mineralized primary feed from the Castle mine it is now working on using the Re-2Ox process on tailings from the Cobalt camp and secondary feeds from spent batteries into final end-user products.”
In addition to the process chemistry, the Company has designed a reactor that acts as an accumulator for low-metal concentrations in the various primary and secondary feeds to improve process economics.
Canada Silver Cobalt will use a purely hydrometallurgical approach by employing Re-2Ox for selective leaching to enhance process recovery of metals. The spent batteries will first be mechanically processed to recover the metal casing and plastics, followed by hydrometallurgical treatment to produce direct feed to the EV battery manufacturers. Canada Silver Cobalt Works will be the first in North America to use this one-step method.
Qualified Person
The technical information in this news release was prepared under the supervision of Frank J. Basa, P. Eng., Canada Cobalt’s Chief Executive Officer, who is a member of Professional Engineers Ontario and a qualified person in accordance with National Instrument 43-101.
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt Works released the first-ever resource in the Gowganda Camp and greater Cobalt Camp in May 2020. A total of 7.56 million ounces of silver in Inferred resources comprising very high-grade silver (8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Robinson Zone beginning at a vertical depth of approximately 400 meters were identified. The discovery remains open in all directions (1A and 1B are approximately 800 meters east of the Capitol Mine workings) (mineral resources that are not mineral reserves do not have demonstrated economic viability) (refer to Canada Silver Cobalt Works Press Release May 28, 2020. Report reference: Rachidi, M. 2020, NI 43-101 Technical Report Mineral Resource Estimate for Castle East, Robinson Zone, Ontario, Canada, with an effective date of May 28, 2020 and a signature date of July 13, 2020.
Canada Silver Cobalt’s flagship Castle Mine and 78 sq. km Castle Property features strong exploration upside for silver, cobalt, nickel, gold, and copper in the prolific past-producing Gowganda high-grade Silver District of Northern Ontario. With underground access at Castle, a pilot plant to produce cobalt-rich gravity concentrates on site, a processing facility (TTL Laboratories) in the town of Cobalt, and a proprietary hydrometallurgical process known as Re-2Ox for the creation of technical grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations, Canada Silver Cobalt is strategically positioned to become a Canadian leader in the silver-cobalt space.
“Frank J. Basa”
Frank J. Basa, P. Eng.
Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE Canada Silver Cobalt Works Inc.
View original content: http://www.newswire.ca/en/releases/archive/March2021/17/c1334.html
Contact:
Frank J. Basa, P.Eng., Chief Executive Officer, 416-625-2342
- Published in Canada Cobalt Works, Mining, News Home
Granada Gold Mine Announces Filing of NI 43-101 Technical Report for the Granada Gold Project, Quebec, with Updated High-Grade Mineral Resource Estimate
Granada Gold Mine Inc. (TSXV: GGM) (the “Company” or “Granada”) is pleased to announce the filing on SEDAR (www.sedar.com) of a technical report for its Granada Gold Project. The report, dated March 15, 2021, is entitled “Technical Report on the Granada Gold Project Mineral Resource Estimate Update, Rouyn-Noranda, Quebec, Canada.” The report can also be found on the Company’s website at www.granadagoldmine.com and provides an updated High-Grade Mineral Resource Estimate of the Granada Gold Deposit using narrow, rich, vein modelling and both open pit and underground resources and revised pit optimization parameters which are based on the possibility of off-site custom milling ore rather than constructing and using an on-site mill.
The report was prepared in accordance with the regulations laid out in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI-43-101”) by Yann Camus P.Eng. and Maxime Dupéré, géo., of SGS Canada Inc., who are independent “Qualified Persons” as defined by NI 43-101. The report supports, and provides greater detail about, the technical basis and scientific rationale of the updated resource estimate initially announced in a Company press release on January 29, 2021. The updated MRE focused on using a scenario with higher cut-off grades than that used in the 2019 MRE. Gold price used is 1600 US$/oz.
The report concludes
There is an opportunity on the Project to extend known mineralization at depth and along strike on the Property.
The Authors consider that the Granada deposit contains a significant open pit and underground Mineral Resource that is associated with a well-defined gold mineralized trend and model. The current Mineral Resource Estimate Update has shown that the Deposit can likely be mined by conventional open pit and underground mining methods with a scenario of off-site custom milling rather than constructing and using an on-site mill. Deeper drilling recently completed also demonstrates that the Property has the potential for a significant underground resource.
The Authors consider the Property to have significant potential for delineation of additional Mineral Resources and that further exploration is warranted. Granada Gold’s intentions are to continue to drill the Deposit in 2021 and plan to direct their exploration efforts towards resource growth, with a focus on extending the limits of known mineralization along strike and at depth, as well as infill drill the existing deposit in order to convert portions of Inferred mineral resources into Indicated or Measured.
Given the prospective nature of the Property, it is the Author’s opinion that the Property merits further exploration and that a proposed plan for further work is justified. A proposed work program by SGS will help advance the Deposit towards a pre-development stage and will provide key inputs required to evaluate the economic viability of a mining project (open pit and underground) at a pre-feasibility study level.
SGS is recommending Granada Gold conduct further exploration, subject to funding and any other matters which may cause the proposed exploration program to be altered in the normal course of its business activities or alterations which may affect the program as a result of exploration activities themselves. For 2021, a total of 45,000 m of drilling is proposed to continue to focus on expanding and extending mineral resources, upgrading existing Inferred resources as well as exploring the Deposit at depth.
The total cost of the recommended work program is estimated at C$10,775,000 (Table 1).
Table 1 Recommended 2021 Work Program for the Granada Deposit
Item | Cost in CAD$ |
Resource Expansion Drilling and Resource Classification improvement 2021 (Open Pit; <500 m depth) 15,000 m | $2,250,000 |
Resource Identification Drilling (Underground; > 500 m depth) drilling 20,000 to 30,000 m | $6,000,000 |
Assays/Geochemistry | $1,400,000 |
Additional Metallurgical Testing | $250,000 |
Continued geotechnical studies for improved pit optimization parameters | $150,000 |
Environmental Baseline Studies | $150,000 |
Updated Resource Estimate | $75,000 |
Pre-feasibility Study and Related Studies | $500,000 |
Total: | $10,775,000 |
Qualified person
The technical information in this news release has been prepared by Yann Camus, P.Eng., independent qualified person of SGS and was reviewed by Claude Duplessis, P.Eng., GoldMinds Geoservices Inc. member of Québec Order of Engineers and a qualified person in accordance with National Instrument 43-101 standards.
About Granada Gold Mine Inc.
Granada Gold Mine Inc. continues to develop the Granada Gold Property near Rouyn-Noranda, Quebec. Approximately 120,000 meters of drilling has been completed to date on the property, focused mainly on the extended LONG Bars zone which trends 2 kilometers east-west over a potential 5.5 kilometers of mineralized structure. The highly prolific Cadillac Break, the source of more than 75 million plus ounces of gold production in the past century, cuts through the north part of the Granada property, but is not necessarily indicative of mineralization hosted on the company’s property.
The Granada Shear Zone and the South Shear Zone contain, based on historical detailed mapping as well as from current and historical drilling, up to twenty-two mineralized structures trending east-west over five and a half kilometers. Three of these structures were mined historically from four shafts and three open pits. Historical underground grades were 8 to 10 grams per tonne gold from two shafts down to 236 m and 498 m with open pit grades from 3.5 to 5 grams per tonne gold.
Updated Mineral Resource
The updated resource at the Company’s Granada Gold project in Rouyn-Noranda, Quebec was estimated by SGS Canada and outlined in a January 29, 2021 news release.
Updated Mineral Resource Estimate Base Case with Details Between the Open Pit Portion and the Underground Portion
Type | Category | Tonnes | Au (g/t) | Gold Ounces |
In Pit | Measured1 | 3,756,000 | 1.89 | 228,000 |
Indicated | 1,357,000 | 2.55 | 111,000 | |
Measured+Indicated | 5,113,000 | 2.06 | 339,000 | |
Inferred | 34,000 | 11.29 | 12,000 | |
Underground | Measured | 37,000 | 4.22 | 5,000 |
Indicated | 807,000 | 4.02 | 104,000 | |
Measured+Indicated | 844,000 | 4.03 | 109,000 | |
Inferred | 1,244,000 | 6.33 | 253,000 |
1. | Cut-off grades are based on a gold price of US$1,600 per ounce, a foreign exchange rate of US$0.76 for CA$1, a gold recovery of 93% |
2. | Pit constrained mineral resources are reported at a cut-off grade of 0.9 g/t Au within a conceptual pit shell |
3. | Underground mineral resources are reported at a cut-off grade of 3.0 g/t Au within reasonably mineable volumes |
The Company is in possession of all mining permits required to commence the initial mining phase, known as the “Rolling Start”, which allows the company to mine up to 550 tonnes per day. Additional information is available at www.granadagoldmine.com.
“Frank J. Basa”
Frank J. Basa P. Eng.
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE Granada Gold Mine Inc.
View original content: http://www.newswire.ca/en/releases/archive/March2021/16/c5369.html
Contact:
Frank J. Basa, P. Eng., President and CEO at 1-819-797-4144 or Wayne Cheveldayoff, Corporate Communications, at 416-710-2410 or waynecheveldayoff@gmail.com
- Published in Granada Gold Mine, Mining, News Home
Newlox Gold Pursues US Listing
Vancouver, BC – TheNewswire – 9 March 2021 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (C NSX : LUX . CN) ( Frankfurt/Stuttgart: NGO ) (OTC : NWLXF ) is pleased to announce it has begun the process to list the Company’s common shares in the United States on the OTC market. The Company’s shares are now quoted on the Pink Open Market, which is the first step toward a formal listing on the OTCQB Venture Market , allowing ease of accessibility to the US investment community.
A Message from Ryan Jackson, President & CEO:
“The current Pink Open Market quote and upcoming OTCQB listing are benchmarks in Newlox Gold’s strategy, which will provide greater awareness of our Company’s growing socially and environmentally positive precious metals production business and technologies .
Recent interest by US retail investors and increased market performance justifies expansion by Newlox into US markets. We look forward to developing relationships with US investors and anticipate a favourable reception of our environmentally and socially positive approach to producing precious metals.”
About Newlox Gold
Newlox has established itself in a niche within the extractive industry where a clean-technology company can apply innovative processing techniques to recover precious metals and affect positive change in the environmental and social landscape in its targeted jurisdictions of operations.
Forward-Looking Information
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).
Technical Disclaimer
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
Newlox Gold Ventures Corp., President
Website: www.newloxgold.com
Email: ryan@newloxgold.com
Phone: +1 778 738 0546
- Published in Mining, Newlox Gold, News Home
Lake Winn Obtains Permit to Drill the Quartz Project in Manitoba, Airborne Geophysics Underway
Highlights
- – A permit that allows access and drill testing on the Quartz project 76km SE of Flin Flon, Manitoba has been granted.
- – This, our 2 nd gold project in Manitoba, contains historic high grade gold intercepts.
- – Some of the better intercepts include 1.28m @ 19.28 g/t Au, 3.35m@ 5.90 g/t Au, 1.37m @ 13.41 g/t Au, drilled by Hudson Bay Resources, and 3.05m @ 8.1 g/t Au, 5.8m @ 12.8 g/t Au and 3.27m @ 3.38 g/t Au, drilled by Tribune Uranium Corp.
- – This gold prospect was discovered by drill testing a conductor and the main exploration premiss is that the conductive horizon continues for 1.45km, historic drilling focus was along a smaller 250m zone.
- – A helicopter borne V-TEM survey is underway, results of the survey will be used to position drill collars.
March 9, 2021 – TheNewswire – Vancouver, British Columbia – Lake Winn Resources Corp. (“Lake Winn” or the “Company”) ( TSXV:LWR ) ( OTC:EQTXF ) has been granted a new exploration permit on its 100% owned Quartz project in the Flin Flon gold belt, Manitoba.
The Quartz project lies near the southern shores in Reed Lake between the Reed Lake and Four Mile Island VMS deposits, approximately 78km to the East of Flin Flon.
The permit allows for access and drill testing around the known gold mineralization.
The Quartz project contains multiple drill hole intercepts containing gold.
A Helicopter based V-TEM survey is underway which will provide data that will be used to plan the drill testing.
In 1975, diamond drill hole Eel-258 intersected 1.28m @ 19.9 g/t Au, whilst targeting a 1.45km long EM conductor. The hole was drilled by Hudson Bay Exploration and Development Co. Ltd. (“Hudson Bay”). Subsequently, Hudson Bay drilled 19 diamond drill holes into this gold bearing zone between 1975 and 1988. Fourteen of the 19 holes were drilled in a 200m long section of the conductor leaving most of the 1.45km long conductor untested. In 2007 the area was further drill tested by Tribune Uranium Corp., (“Tribune”). Tribune also encountered multiple gold intercepts but again they concentrated the drilling in the 200m zone already shown to contain gold by Hudson Bay. Highlights of the Tribune drilling include 5.8m @ 12.8g/t Au, and 1.43m @ 12.0 g/t Au.
Lake Winn’s main exploration objective is to drill test the entire 1.45km length of the conductor for extensions of the proven zone which as defined by the historic drilling is open to the east, to the west, and at depth. The heliborne time domain EM survey (TDEM). This survey will be used to accurately locate the conductive horizon, allowing 3D modeling of the conductor.
The transaction to obtain the core claims at the quartz project has been approved by the exchange.
Qualified Person
The Qualified Person for this news release is Buddy Doyle, AUSIMM, a Geologist with over 30 years’ experience in mineral exploration, discovery, and evaluation. A Qualified Person under the provisions of National Instrument 43-101.
About Lake Winn
Lake Winn Resources Corp., is a Vancouver based gold company, listed on the TSX Venture Exchange (Symbol: LWR) focusing on exploration and development of gold projects in Canada. The company’s flagship property, the Cloud Project is in the province of Manitoba, in the Flin Flon Gold Belt approximately 40 kilometers north ‐ east of the town of Flin ‐ Flon. Access to the property is provided by Manitoba highway 10 to the all ‐ weather Kississing Lake Road. The company is currently diamond drilling on this property. The company now has a second gold property in Manitoba, the Quartz project in Reed Lake reported in this release.
On Behalf of the Board of Directors of Lake Winn Resources Corp.
Patrick Power, President & CEO
+1 (604) 218-8772
- Published in Lake Winn Resources, Mining, News Home
Canada Silver Cobalt Works Launches Re-2Ox Website Focused on Battery Recycling
Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to announce a new website for the battery recycling initiative utilizing the proprietary, environmentally friendly hydrometallurgical process. The Re-2Ox process has already been successfully used in the development of a cobalt sulphate compound for end use in lithium-ion batteries. Now, the Company is seeking to use this process in the recycling of spent lithium-ion batteries and other recyclables that contain metals of value.
Highlights
- Re-2Ox website is now on-line http://www.re-2ox.com/
- Potentially 90 percent of recyclable battery material will be available for processing with no known global recycling capacity availability
- Re-2Ox process is amenable to feedstock of used battery material which is now widely available
CEO Frank J. Basa, P.Eng., commented that “We strongly considered this initiative a few years ago but initial research turned up a lack of feedstock at that time, but this has now changed. With feedstock currently available and coupled with the Re-2Ox process, the path is clear for the Company to develop what can be a robust and ever-increasing potential income stream by providing future tolling services for the treatment of used batteries.”
The percentage of a Li-ion battery’s weight that comes from valuable cathode material is 30-40% with the value of the lithium-ion battery market projected to be upwards of $70 billion next year according to the International Energy Agency, US Department of Energy.
If current trends for handling these spent batteries do not change, the majority will end up in landfills despite the fact that Li-ion batteries can be recycled. These batteries contain valuable metals and other materials that can be recovered, processed, and re-used; however, little recycling goes on today. The opportunity is right in front of us as the world stands at the inception of a mega-trend or global shift away from carbon-producing transport to electrified transport. To date, the media focus has been on the front-end savings without addressing the back end which has to be recognized if green goals are to be fully realized. The Company sees this as a major opportunity that will grow for decades as these now-established mega-trends continue to accelerate, not just in North America but around the world.
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt Works released the first-ever resource in the Gowganda Camp and greater Cobalt Camp in May 2020. A total of 7.56 million ounces of silver in Inferred resources, comprising very high-grade silver (8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Robinson Zone beginning at a vertical depth of approximately 400 meters, was identified. The discovery remains open in all directions (1A and 1B are approximately 800 meters from the Capitol Mine workings) (mineral resources that are not mineral reserves do not have demonstrated economic viability) (refer to Canada Silver Cobalt Works Press Release May 28, 2020. Report reference: Rachidi, M. 2020, NI 43-101 Technical Report Mineral Resource Estimate for Castle East, Robinson Zone, Ontario, Canada, with an effective date of May 28, 2020 and a signature date of July 13, 2020.
Canada Silver Cobalt’s flagship Castle mine and 78 sq. km Castle Property feature strong exploration upside for silver, cobalt, nickel, gold, and copper in the prolific past-producing Gowganda high-grade Silver District of Northern Ontario. With underground access at Castle, a pilot plant to produce cobalt-rich gravity concentrates on site, a processing facility (TTL Laboratories) in the town of Cobalt, and a proprietary hydrometallurgical process known as Re-2Ox for the creation of technical-grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations, Canada Silver Cobalt is strategically positioned to become a Canadian leader in the silver-cobalt space.
“Frank J. Basa”
Frank J. Basa, P. Eng.
Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE Canada Silver Cobalt Works Inc.
View original content: http://www.newswire.ca/en/releases/archive/March2021/08/c1089.html
Contact:
Frank J. Basa, P.Eng., Chief Executive Officer, 416-625-2342
- Published in Canada Cobalt Works, Mining
Newlox Gold’s Local Partners Prepare For Mercury-Free Gold and Silver Production
Figure 1. Company Staff Visit the Recently Reconditioned Local Mine Portals
Vancouver, BC – TheNewswire – 3 March 2021 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (C NSX : LUX . CN) ( Frankfurt/Stuttgart: NGO ) is pleased to report that the local artisanal mining partners have begun reconditioning the Boston Mine adits (tunnels) in anticipation of enhanced mineral processing without the need for mercury. The reconditioning will allow increased mine output to support the commissioning of the new processing circuit, eliminating mercury use to improve environmental conditions while simultaneously boosting efficiency.
Local miners have operated informal and formal mines continuously in the Central Gold Belt of Costa Rica and the area of the Boston Mine since the early 1900s, while traditional pre-industrial mining and goldsmithing history in the area dates to 400-500 AD . Precious metals production and smithing are an integral part of local groups’ heritage and traditions and continue to be practiced today for both economic and cultural reasons. Now, for the first time since the introduction of the mercury amalgamation process, artisanal gold and silver production will be achieved with zero use of mercury and its associated environmental damage.
As an expansion to the Newlox artisanal tailings remediation and precious metals recovery project, the Company is implementing a new partner-mining project in association with local stakeholders. The local partners continue to exploit their gold veins while the Company will provide advisory, engineering, and processing support to achieve efficient gold and silver recovery using environmentally positive technology. Both the Company and local stakeholders are keen to advance this project’s development and anticipate that it will provide economic, social, and environmental benefits to all parties.
Newlox management were welcomed to the Boston Mine, which has been in continuous operation for decades and is currently being refurbished in anticipation of supplying raw feedstock to the Boston Processing Plant. This processing plant is fully permitted and is at an advanced stage development, with commissioning expected in the second quarter of this year.
At full scale, the Boston Plant is expected to process 150 tonnes per day of feedstock at a grade of +-15 grams per tonne gold with a significant silver component. Net revenues after all production costs will be split 50/50 between the miners and Newlox. The Company expects the Boston Project to contribute to Newlox’s near-term growth significantly.
A Message from Ryan Jackson, President & CEO:
“We are delighted to see our local partners refurbishing and upgrading their mines in anticipation of the commissioning of the new processing facility. Mining and precious metals are an integral component of the local population’s economy, culture, and history in Central America. We are honoured to be invited to assist in the sustainable development of the local economy.
Although artisanal mining has a long and rich history in this area, traditional metal extraction methods have had harmful environmental consequences. 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.”
About Newlox Gold
Newlox has identified a niche within the extractive industry where a clean-technology company can apply innovative processing techniques to not only recover precious metals but also affect positive change in the environmental and social landscape of its targeted jurisdictions of operations.
Forward-Looking Information
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).
Technical Disclaimer
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
Newlox Gold Ventures Corp., President
Website: www.newloxgold.com
Email: ryan@newloxgold.com
Phone: +1 778 738 0546
- Published in Mining, Newlox Gold, News Home