VANCOUVER, Nov. 22, 2018 /CNW/ - INCA ONE GOLD CORP. (TSXV: IO) (Frankfurt: SU9.F) (SSEV: IOCL) ("Inca One" or the "Company") announces consolidated gold production for October 2018 from its Chala One Plant ("Chala One") and its recently acquired Koricancha Plant ("Kori One"). All comparative year over year ("YOY") production numbers relate only to Chala One in 2017. Consolidated production in 2018 is on a 100% basis.
Gold production reached 2,693 ounces as compared to 1,104 ounces in October 2017, an increase of 144% YOY.
Material processed this October also increased on a YOY basis as the combined plants processed 5,467 tonnes of gold bearing material, an increase of 176%. Throughput in October averaged a combined 176 tonnes per day ("TPD").
Deliveries to both plants were steady in October, totalling 5,808 tonnes, an increase of 206% YOY and consistent with the 5,838 tonnes delivered the previous month of September 2018.
Edward Kelly, President, and CEO said, "Year over year results continue to be positive as we continue to hit solid production numbers heading into the final months of the year. Inca One is on track to have its most productive year since we first entered commercial production in 2015."
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 100%-owned Chala One and 90%-owned 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