VANCOUVER, May 15, 2018 /CNW/ - INCA ONE GOLD CORP. (TSXV: IO) (Frankfurt: SU9.F) (SSEV: IOCL) ("Inca One" or the "Company") is pleased to announce that gold production in April 2018 climbed to 1,224 ounces, an increase of 44% year-over-year, and an increase of 7% from the prior month of March 2018.
Inca One's supply of gold-bearing material for processing continued to increase at a healthy pace. Mineral received in April 2018 was 2,805 tonnes, or approximately 94 tonnes per day ("TPD"). This represents an increase of 58% on a year-over-year basis. Ore stockpiled for processing at the Chala One plant is currently sitting at approximately 1,800 tonnes.
Throughput in April also continued trending upwards, as the Company achieved an average of approximately 85 TPD, an increase of 51% year-over-year. Material processed in April was 2,539 tonnes as compared to 1,686 tonnes in April 2017 and 2,495 tonnes in the prior month of March 2018.
During the month of April, the Company's throughput ran above 100 TPD for 16 days with its highest production level reaching 116 TPD. The completion of our capital improvements that will allow for continuous production through the harvesting period will allow us to meet our objective of averaging 100TPD for the year.
Inca One President and CEO, Edward Kelly stated, "We continue to see the benefits of the most recent financing (please see January 30, 2018 press release) that helped finance capital improvements and replenish ore inventories."
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@example.com, Telephone: 604-568-4877