ACRC announces it's plan to purchase up to 20% of publicly traded Newlox Gold Ventures Corporation.
Updated: Mar 23, 2019
American Condor Resources Corporation (“ACRC” or the “Company”) announces it's plan to purchase up to 20% of publicly traded Newlox Gold Ventures Corporation.
(LUX: CN/FRANKFURT: NGO).
Christopher Werner, ARCR President and CEO, stated “The acquisition of a substantial amount of equity in Newlox Gold and a strong collaborative effort by both company’s management teams to utilize their technologies and assets in Latin America is an ideal growth strategy for both company’s which includes advancing a series of ACRC hard rock Peruvian based projects and making significant investments in other base and precious metal market opportunities in the Americas.
About Newlox Gold Ventures Corp.
Newlox Gold Ventures Corp. is a precious metals production and environmental remediation company recovering contaminants and residual precious metals from historical waste left behind over more than a century of inefficient artisanal and small-scale mining in Latin America. This novel approach eliminates the conventional, time and capital intensive, process’ of exploration and mining, and proceeds directly to processing and precious metals recovery.
Newlox Gold work in collaboration with the Norman B. Keevil Institute of Mining Engineering at the University of British Columbia, the Brazilian Centre for Mineral Technology (CETEM), the University of Leicester, and Argo Applied Technologies.
Newlox’s approach is directed towards the low-hanging-fruit within the resource industry where the application of cutting-edge technology can make the greatest and most expedient effect. The Company focuses on high-grade stockpiles of artisanal gold tailings with the objective of quickly establishing low-cost precious metals production at projects with high rates of return and quick payback timetables.