Inca One Produces 2,331 Oz of Gold in March 2019
VANCOUVER, April 23, 2019 - Inca One Gold Corp. (TSXV: IO) (Frankfurt: SU9.F) (SSEV: IOCL) ("Inca One" or the "Company") is pleased to announce consolidated gold production for March 2019 from its Chala One Plant ("Chala One") and Koricancha Plant ("Kori One"). All comparative year over year ("YOY") production numbers relate only to Chala One in 2018. Consolidated production in 2019 is on a 100% basis and includes Kori One from August 21, 2018.
The Company's gold production increased 104% YOY this past March 2019 as it reached 2,326 ounces as compared to 1,141 ounces in March 2018.
Material processed in March reached 4,917 tonnes, as compared to 2,168 tonnes in March 2018, an increase of 127% YOY. Processing also increased 9% month over month as compared 4,520 tonnes processed in February 2019. Throughput in March averaged a combined 159 tonnes per day ("tpd").
| March 2019 Operations | ||||
| Year over Year | 2019 | 2018 | YOY Variance | |
| Deliveries: | 4,704 tonnes | 3,430 tonnes | 37% | |
| Production: | 4,917 tonnes | 2,168 tonnes | 127% | |
| Throughput: | 159 tpd | 70 tpd | 127% | |
| Gold Produced: | 2,326 ounces | 1,141 ounces | 104% | |
Deliveries for March 2019 continued trending positive for the year despite the prolonged effects of the rainy season, as the supply of gold bearing material delivered to both Chala One and Kori One plants increased 37% YOY and increased 5% from prior month of February 2019.
Edward Kelly, President, and CEO commented, "I am pleased to see continued growth in production numbers. Now with our first and traditionally slowest calendar quarter behind us we look forward to another strong quarter ahead with the recognition we are on pace for our most productive year yet."
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,
Edward Kelly,
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.
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SOURCE Inca One Gold Corp.
Contact
Konstantine Tsakumis, Inca One Gold Corp., ktsakumis@incaone.com, 604-568-4877