VANCOUVER, Feb. 22, 2012 /CNW/ - INCA ONE RESOURCE CORP. (TSXV:IO) ("the Company" or "Inca One") is pleased to announce that it
has commenced its Sustainability Program for the communities
surrounding its Las Huaquillas Gold-Copper project in Peru.
The current Peruvian government promised a Social Inclusion Program
during the most recent election cycle. As a result, the government of
Peru now requires a Sustainability Program to be designed and
implemented by the company exploring and developing natural resource
assets prior to the issuance of social and drilling permits.
In order to meet these requirements and stay on track with the Company's
established development timeline and goals, Inca One has partnered with
Cooperative Agraria Santuario de la Frontera Ltd. located in Peru. The
primary goal of the Sustainability Program is to provide education and
training with four main components. The components include increasing
coffee production, quality improvement, certification, and education.
The Sustainability Program Inca One has committed to will positively
impact 800 families who own and operate a combined 1,237 hectares of
coffee-growing farms in the area surrounding the Company's mineral
resource project for the next three years. It will also train more than
1,200 individuals on maximizing coffee yield from their current
operations, which will triple their current yield by the third year.
The total increase in economic benefit due to higher coffee yields will
be approximately US$1.5 million per year once the Sustainability
Program has been fully implemented.
Furthermore, Inca One's Sustainability Program is focused on creating a
high-impact socioeconomic program while mitigating direct costs to the
Company. The Company has engaged local and national government
organizations to both increase the impact of the initiative and defray
The local community relies heavily on coffee production as its primary
economic activity. Inca One's President and CEO's past experience as a
coffee industry executive will be helpful in completing the
Sustainability Program and keeping direct costs incurred by Inca One at
Edward Kelly, Inca One CEO, says, "The start of the Sustainability
Program is another positive step forward for Inca One. The program is
critical to maintaining the strong relationship we have with the local
community and our future success in Peru. This program offers
tremendous benefits to the Company and both direct and indirect
stakeholders of our project."
With the implementation of the Sustainability Program now underway, Inca
One believes that it has met the requirements of the government.
About Inca One Resources Corp.:
Inca One Resources Corp. is a publicly listed (TSX VENTURE:IO) mineral
resource company focused on acquiring and advancing properties in the
South American country of Peru.
Led by successful entrepreneur and business owner Edward Kelly, the team
has built multiple successful business ventures in a number of
different business sectors. The company has the option to acquire a
100% interest in the Las Huaquillas Gold-Copper project in Peru.
Previous exploration on the Project was executed by Cooperation Minero
Peruano - Alemana (1988-1992) and Sulliden Gold Corporation Ltd. (TSX:
SUE, "Sulliden") (1996 - 1999). The exploration consisted of surface
geological, geochemical, and geophysical studies, 26 drill holes and
1200 meters of underground workings.
In 1998, Sulliden estimated a 500 meter section of the 2.2 km long Los
Socavones Zone hosted an estimated geological resource of 6.57 million tonnes grading 2.09 g/t Au
and 25.2 g/t Ag (equivalent to 443,000 ounces of gold and 5.3 million
ounces of silver). The resource estimate is based on historical findings and is not NI
The historical estimate used a cut-off of 1.5 g/t gold and remains open
at depth and along strike. The historical resource estimate was based
on data retrieved from 10 drill holes and 20 mineralized intercepts to
a depth of 200 meters.
Inca One management believes the Company can obtain its Social and
Drilling Permits in a timely and efficient manner based on the
community support received to date and support from its property
After receiving Social and Drilling Permits, the Company's objective
will be to develop shareholder value by upgrading the Las Huaquillas
Gold-Copper Project's historical resource into an NI 43-101 compliant
The completion of an NI 43-101 compliant resource estimate will be
followed by additional drilling to develop the project's full
Note: The historic resource was calculated in 1998 and the Company has
not completed the work necessary to have the historical estimate
verified by a Qualified Person. The Company is not treating the
estimate as a current NI 43-101 defined resource and the historical
estimate should not be relied upon. The Project will require
considerable future exploration which the Company intends to carry out
in due course.
More information on the project and Inca one can be found on its web
site at www.incaone.com.
On behalf of the Board,
INCA ONE RESOURCES CORP.
CEO & President
Statements in this press release 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 such as the risk that the closing may
not occur for any reason. Actual results in each case could differ
materially from those currently anticipated in such statements due to
factors such as: (i) the inability of the parties to consummate the
definitive letter agreement; (ii) fluctuation of mineral prices; (iii)
a change in market conditions; (iv) the inability to produce the
technical report for any reason whatsoever; and (v) the refusal of the
Exchange to accept the proposed transaction for any reason whatsoever.
Except as required by law, the Company does not intend to update any
changes to such statements.
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 release.
For further information:
For more information contact the Company at:
Telephone: (604) 669-9788
Facsimile: (604) 669-9768