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,
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.