Newlox Gold Ventures Corp. [LUX-CSE; NGO-FSE] reported grab sample results up to 77.1 g/t gold from the most accessible portions of the historic Boston Mine in Costa Rica. The Boston Mine is currently being exploited by Newlox Gold’s local mining partners with whom Newlox has partnered to supply primary feedstock to the company’s Boston Processing Plant, which is now at an advanced stage of construction.
Grab samples were taken by the company’s geological team from vein structures identified by the Company’s local mining partners at the Boston Mine. Four grab samples from prominent veins in easily accessible areas of the Boston Mine were assayed using the Fire Assay method, returning 46.57, 67.80, 73.28 and 77.10 g/t gold, respectively.
These results affirm historical data indicating the presence of high-grade gold associated with epithermal quartz vein systems at the Boson Mine, however the reader is cautioned that such grab samples are not necessarily indicative of the mineralization in general for the deposit;
A N I 43-101 report by Veritas Mining C.R. S.A. in 2011 on the Boston Project and surrounding Juntas Gold Camp published a historical resource of 241,000 tonnes containing 20,800 oz of gold and an exploration potential of between 685,000 and 981,000 ounces. A substantial portion of the exploration potential was ascribed to the Boston Project area.
Newlox has under construction its second environmentally and socially positive precious metals recovery plant at the Boston Project, which is intended to process feedstock newly extracted by the company’s local mining partners. In anticipation of the commissioning of the Boston Processing Plant, the company’s mining partners are reconditioning the Boston Mine adits (tunnels) and identifying veins of interest for sampling and future mining.
At the Boston mine, historical records and recent local mining indicate four mining levels, targeting a system of steeply dipping northeast-trending veins up to 5 metres thick, with grades up to 77.1 g/t, that are readily accessible for immediate exploitation. As with other concessions in this area, bonanza-type shoots with higher grades may be anticipated.
Newlox plans to operate the mill at Boston capable of processing 150 tonnes/day of material grading +- 15 g/t gold with an anticipated gold recovery of 90%. All feedstock is to be provided by Newlox’s mining partners, with profits to be split evenly between the parties.
Ryan Jackson, president and CEO, said, “These first outstanding high-grade gold results from grab sampling at the historic Boston Mine support both historical exploration results and confirm mining reports provided by the company’s local mining partners.
“Positive sampling results from the Boston Mine are especially timely since construction at the Boston Plant is nearing completion. Like many of the company’s initiatives in 2021, construction at Boston is behind schedule but is progressing nicely. This year, we have been frustrated by significant delays due to the pandemic and the associated global supply chain disruptions.”