VANCOUVER, May 28, 2019 /CNW/ - INCA ONE GOLD CORP.
(TSXV: IO) (Frankfurt: SU9.F) (SSEV: IOCL) ("Inca One" or
the "Company") announces consolidated gold production for
April 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 69% YOY this past
April 2019 as it reached 2,065
ounces, as compared to 1,224 ounces in April
2018.
Material processed in April reached 4,238 tonnes, as compared to
2,490 tonnes in April 2018, an
increase of 70% YOY. Throughput in April averaged a combined
141 tonnes per day ("tpd").
Deliveries for April 2019
increased 50% YOY with 4,201 tonnes of gold bearing material
delivered to both the Chala One and the Kori One plants.
Although deliveries were up year over year, an extended rainy
season lasting unusually into April has affected the supply of
mineral throughout Peru. Many small-scale miners' production
has been delayed due to the weather and varying degrees of damage
to some mines. We expect a lag in ore deliveries until
overall conditions improve and anticipated seasonal effects have
passed.
|
April 2019
Operations
|
|
|
|
|
Year over
Year
|
2019
|
2018
|
YOY
Variance
|
|
Deliveries:
|
|
4,201 tonnes
|
2,805
tonnes
|
50%
|
|
Production:
|
|
4,238 tonnes
|
2,490
tonnes
|
70%
|
|
Throughput:
|
|
141 tpd
|
83 tpd
|
70%
|
|
Gold
Produced:
|
|
2,065 ounces
|
1,224
ounces
|
69%
|
Edward Kelly, President, and CEO
commented, "A number of our mining partners have been affected by
the weather, causing damage to their mines. As a result, there have
been delays in deliveries to our plants. Given that the last two
quarters of the year are typically our highest delivery periods,
management's expectations are that deliveries and production will
increase.
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.
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.