VANCOUVER, Aug. 16, 2018 /CNW/ - INCA ONE GOLD
CORP. (TSXV: IO) (Frankfurt: SU9.F) (SSEV:
IOCL) ("Inca One" or the "Company")
announces gold production in July
2018 reached approximately 1,291 ounces as compared to 844
ounces in July 2017, an increase of
53% year-over-year ("YOY").
Material processed in July 2018
also increased on a YOY basis as processing in July reached 2,989
tonnes, an increase of 53% YOY, but slightly off last month's
record numbers of 3,167 tonnes, a decrease of 6%, on a
month-over-month basis, averaging 96 tonnes per day
("TPD").
The Company's supply of gold-bearing material for processing hit
a new watermark as mineral received in July
2018 was 3,950 tonnes, representing an increase of 86% on a
YOY basis, and an increase of 38% from the prior month June 2018, (2,871 tonnes).
"We continue to see operations at Chala One maintaining 96% to
100% of its permitted capacity during the past several
months. Though our grade was below previous averages, it is
encouraging to see positive year-over-year results as our team
efficiently executes our goal," said Edward
Kelly, President and CEO of Inca One. "It is also pleasing
to see a significant bump up in deliveries, reaffirming our
well-known belief of ample supply of quality material for
processing. Looking forward, our goal is to maintain our
current output which will allow us to hit our production targets
again for this quarter, while seeking higher grade material.
Additionally, we will work to close the Koricancha transaction,
bringing it online to achieve the synergies and operating
efficiencies that will fuel growth as we scale the business in the
second half of this calendar year."
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 at 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.
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SOURCE Inca One Gold Corp.