VANCOUVER, March 6, 2018 /CNW/ - INCA ONE GOLD CORP.
(TSXV: IO, Frankfurt:
SU9.F, SSEV: IOCL) ("Inca One" or the
"Company") is pleased to announce that production in
February reached 2,018 tonnes of material or 72 tonnes per day
("TPD") up from 1,522 tonnes or 49 TPD processed in 2017, an
increase of 33% on a year-over-year ("YOY") basis.
Additionally, gold exports in February
2018 reached just over 910 ounces, an all-time production
high for the month of February. When compared to 2017 production of
624 ounces of gold, this represents an increase of 46% YOY. When
compared to the prior month of January
2018, gold production increased 10%.
Inca One's supply of gold bearing material for processing
increased significantly. Mineral received in February 2018 was 2,066 tonnes, an increase of
20% YOY (1,725 tonnes delivered in February
2017), and 78% when compared to the prior month of
January 2018 (1,163 tonnes
delivered). This was directly related to the additional
working capital raised in the Company's private placement that
closed in January.
Knowing the importance of continued investment into the Chala
Plant and addressing cost savings where possible, the Company
commenced implementation of several new capital improvements to
maximize crushing and milling effectiveness and further improve
gold recoveries and efficiency.
Inca One President and CEO,
Edward Kelly stated, "We are
extremely pleased to see the immediate impact from our financing
produce record numbers in the month of February, a month that has
historically been a slower period for our business. The
continued growth in all facets of our operations are a favorable
outcome. We anticipate steady improvement in our throughput
and production in the coming months as we deploy additional working
capital towards mineral purchases, keeping Inca One on pace towards
company-wide profitability."
About Inca One
Inca One is a Canadian-based mineral processing company.
The Company's activities consist of the production of gold
and silver from the processing of purchased minerals located in
Peru. Peru is the 6th largest producer of gold in
the world and the Peruvian government estimates the small-scale
mining sector accounts for a significant portion of all Peruvian
gold production, estimated to be valued approximately US$3 billion annually. The Company
purchases its minerals from government registered small-scale
mining producers from various regions and processes it at its Chala
One milling facility located in Chala, Southern Peru.
On behalf of the Board,
Edward Kelly,
President and CEO
INCA ONE GOLD CORP.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS NEWS RELEASE.
Statements regarding the Company which are not historical facts
are "forward-looking statements" that involve risks and
uncertainties. Such information can generally be identified by the
use of forwarding-looking wording such as "may", "expect",
"estimate", "anticipate", "intend", "believe" and "continue" or the
negative thereof or similar variations. Since forward-looking
statements address future events and conditions, by their very
nature, they involve inherent risks and uncertainties. Actual
results in each case could differ materially from those currently
anticipated in such statements due to factors such as: (i)
fluctuation of mineral prices; (ii) a change in market conditions;
and (iii) the fact that future operational results may not be
accurately predicted based on this limited information to
date. Except as required by law, the Company does not intend
to update any changes to such statements. Inca One believes
the expectations reflected in those forward-looking statements are
reasonable but no assurance can be given that these expectations
will prove to be correct and such forward-looking statements
included herein should not be unduly relied upon.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state in which such offer, solicitation, or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state.
SOURCE Inca One Gold Corp.