VANCOUVER, Sept. 19, 2018 /CNW/ - INCA ONE GOLD CORP.
(TSXV: IO) (Frankfurt:
SU9.F) (SSEV: IOCL) ("Inca One" or the
"Company") announces gold production at the Chala One Plant
("Chala One") in August 2018 reached
approximately 1,513 ounces as compared to 928 ounces in
August 2017, an increase of 63%
year-over-year ("YOY") and an increase of 17% from the prior
month of July 2018 (1,291
ounces).
Material processed this August also increased on a YOY basis as
processing reached 3,170 tonnes an increase of 56% YOY and an
increase of 6% from the prior month of July
2018 (2,989 tonnes). Throughput in August averaged
just over 102 tonnes per day ("TPD").
Having averaged at or near 100 TPD output over the prior six
months at Chala One, attention now will focus on the integration of
the Koricancha Plant ("Kori One") with existing operations
at Chala One, with a specific emphasis on improving Kori One's cost
efficiency and optimizing operating synergies between the two
facilities.
Going forward the Company will provide monthly production
numbers from both plants on a consolidated basis, commencing with
the September results in early October.
Edward Kelly, President, and CEO
said, "we are pleased to report Chala One's production for August
has again reached operating capacity. Having now closed our
acquisition of Kori One our focus will be to scale the production
profile by effectively utilizing the working capital and the excess
capacity available to Inca One to build a significant cash flowing
business that will benefit our shareholders."
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 and Kori One milling facilities located in
Arequipa, 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.