VANCOUVER, July 11, 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 at
its wholly owned Chala One Plant ("Chala One") in
June 2018 reached 1,541 ounces.
Throughput at Chala One averaged 115 tonnes per day ("TPD")
in June 2018, up from 70 TPD
year-over-year and up from 110 TPD from the prior month of May
2018.
Gold-bearing material supplied at Chala One continued to be
robust as deliveries reached 2,871 tonnes over this month, an
increase of 51% year-over-year (1,906 tonnes) and an increase of
25% over the prior month of May 2018
(2,300 tonnes).
Quarterly Results
It is important to indicate Inca One
surpassed its quarterly production target for the most recent
quarter ending June 30, 2018, for the
first time. Production over the three months of April, May, and
June 2018 ("Q2-2018" or "the
Quarter") reached 9,400 tonnes, an increase of 75% over the same
three-month period in 2017 (5,367 tonnes) and an increase of 40%
from the prior three-month period of January, February and
March 2018 (6,697 tonnes).
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Q2
2018
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April
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May
|
June
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Totals
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YOY
change
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QOQ
Change
|
deliveries
(tonnes)
|
2,805
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2,300
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2,871
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7,976
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41%
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20%
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production
(tonnes)
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2,539
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3,406
|
3,455
|
9,400
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75%
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40%
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throughput
(tpd)
|
85 tpd
|
110 tpd
|
115 tpd
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103 tpd
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75%
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39%
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gold production
(oz)
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1,224
|
1,531
|
1,541
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4,297
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71%
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49%
|
During Q2-2018, throughput at Chala One averaged 103 TPD, an
increase from 59 TPD year-over-year and an increase from 74 TPD
from the prior three-month period of January, February and March
2018.
Gold produced during the Quarter reached 4,297 ounces, an
increase of 71% year-over-year and an increase of 49%
quarter-over-quarter. Average monthly gold production reached
approximately 1,430 ounces during the Quarter, as compared to 835
ounces in the comparable quarter in 2017.
Inca One President and CEO,
Edward Kelly stated, "We are
extremely pleased with this milestone of an average of over 100 TPD
these past three months. Our entire team is to be commended for
surpassing our target and achieving this record production for the
Quarter. We enter the next three- month period with a goal of
sustaining the throughput rate at an average of 100 TPD, with a
focus on increasing the average gold grade processed."
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,
Edward Kelly,
President and CEO
INCA ONE GOLD CORP.
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 NEWS RELEASE.
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.