Inca One produces 2,153 oz of gold in July 2019
VANCOUVER, Aug. 15, 2019 - Inca One Gold Corp. (TSXV: IO) (Frankfurt:SU9.F) (SSEV: IOCL) ("Inca One" or the "Company") announces consolidated gold production and deliveries for July 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.
Inca One reports that gold production this past July 2019 increased 67% YOY producing 2,153 ounces of gold, as compared to 1,291 ounces in July 2018. Gold production, as expected, picked up again on a month over month ("MOM") basis increasing 16% from the prior month of June 2019 (1,846 oz) as production continued its positive momentum this month.
Deliveries for July 2019 increased 2% YOY with 4,022 tonnes of gold bearing material delivered to both the Chala One and the Kori One plants. Deliveries also picked up 8% on a MOM basis over June 2019 (3,735 tonnes).
Throughput in July 2019 reached 4,056 tonnes, as compared to 2,989 tonnes in July 2018, an increase of 36% YOY. Throughput also climbed 4% MOM, averaging 131 tonnes per day ("tpd") in July as compared to June 2019 (126 tpd).
| Operations | ||||
| Year over Year | July 2019 | July 2018 | YOY Variance | |
| Deliveries: | 4,022 | 3,950 | 2% | |
| Throughput: | 4,056 | 2,989 | 36% | |
| Tonnes Per Day (tpd): | 131 tpd | 96 tpd | 36% | |
| Gold Produced: | 2,153 | 1,291 | 67% | |
Edward Kelly, President, and CEO commented, "I am pleased to see our production continue to grow and build momentum month over month, as we now enter the second half of the calendar year, a period where historically we have seen our most productive months."
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