VANCOUVER, June 12, 2018 /CNW/ - INCA ONE GOLD CORP.
(TSXV: IO) (Frankfurt:
SU9.F) (SSEV: IOCL) ("Inca
One" or the "Company") is pleased to announce that
throughput at its wholly owned Chala One Plant ("Chala One")
surpassed its targeted production rate for the entire month of
May 2018. Throughput in May
averaged 110 tonnes per day ("TPD"), an increase of 114%
year-over-year.
With all process upgrades and capital improvements completed and
online, Chala One production is now setup to average 100 TPD of
capacity on an on-going basis. The month of May marks the
first time that Chala One ran above its targeted production for an
entire month and had three days where production exceeded 130
tonnes for the day.
Material processed in May 2018 was
an all-time Company record as it climbed to 3,406 tonnes, more than
double compared to 1,591 tonnes in May
2017, an increase of 34% from the previous month of
April 2018.
Gold produced this past May reached 1,531 ounces as compared to
765 ounces in May 2017, also an
increase of 100% year-over-year, an increase of 25% on a
month-over-month basis.
Inca One's supply of gold-bearing material for processing
continued to increase as mineral received in May 2018 was 2,300 tonnes, representing an
increase of 17% on a year-over-year basis. Material
stockpiled for processing at Chala One is currently sitting at
approximately 1200 tonnes.
Inca One President and CEO,
Edward Kelly stated, "We are
extremely pleased with our record production numbers this
month. As previously indicated, the completion of necessary
capital improvements along with a replenished ore buying account
has given our team the tools it needed to drive production to
record levels this past month. Most importantly, we are now
on track to meet our quarterly production target of 100TPD."
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.
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content:http://www.prnewswire.com/news-releases/inca-one-gold-breaks-production-record-may-2018-best-production-month-ever-300664585.html
SOURCE Inca One Gold Corp.