VANCOUVER, April 16, 2018 /CNW/ - INCA ONE GOLD CORP. (TSXV: IO, Frankfurt: SU9.F, SSEV: IOCL) ("Inca One" or the "Company") is pleased to announce gold production in March 2018 reached approximately 1,141 ounces, an increase of 40% year-over-year, and an increase of 25% from the prior month of February 2018.
Throughput in March also increased significantly, as the Company achieved an average throughput of approximately 80 tonnes per day ("TPD"), an increase of 33% year-over-year and an increase of 24% from the prior month of February 2018. Material processed in March was 2,495 tonnes as compared to 1,880 tonnes in March 2017 and 2,018 tonnes in the prior month of February 2018.
Inca One's supply of gold bearing material for processing continued to increase substantially. Mineral received in March 2018 was 3,430 tonnes or approximately 111 tonnes a day, an increase of 61% year-over-year, and 66% when compared to the prior month of February 2018.
Inca One President and CEO, Edward Kelly stated, "During March we achieved record daily and monthly deliveries to our plant. Processing and throughput have increased as expected and our exports have climbed accordingly. We are determined to continue this momentum and improve profitability by increasing production levels to 100 TPD."
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,
President and CEO
INCA ONE GOLD CORP.
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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.
For further information: Konstantine Tsakumis, Inca One Gold Corp., Email: [email protected], Telephone: 604-568-4877