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,
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