Inca One Gold announces 124% increase in gold production in August, September and October 2017
VANCOUVER, Nov. 9, 2017 /CNW/ - INCA ONE GOLD CORP. (TSXV: IO, Frankfurt: SU9.F, SSEV: IOCL) ("Inca One" or the "Company") is pleased to report gold production for the three months ending October 31, 2017 more than doubled from the same period last year, reaching 2,921 ounces, an increase of 124% year-over-year ("YOY") and an increase of 17% from the prior three months ending July 31, 2017.
During the three months ending October 31, 2017, the Company achieved an average throughput of 69 tonnes per day ("tpd"), an increase of 107% from the same period last year and an increase of 9% from the prior three months ending July 31, 2017. Over August, September and October 2017, the Company processed approximately 6,358 tonnes of gold bearing material including tailings, compared to 3,070 tonnes YOY, (an increase of 107%).
| Production |
August |
September |
October |
Totals |
YOY change |
| Gold produced (oz) |
928 |
889 |
1,104 |
2,921 |
124% |
| Throughput (tpd) |
66 |
59 |
82 |
69 |
107% |
| Deliveries (tonnes) |
2,139 |
2,050 |
1,900 |
6,089 |
31% |
| Production (tonnes) |
2,032 |
1,769 |
2,557 |
6,358 |
107% |
Inca One's supply of gold bearing material for processing also increased steadily when compared on a YOY basis. Mineral received during the three months ending, October 2017 was 6,089 tonnes, an increase of 31% YOY. When compared to the prior three months ending July 31, 2017 deliveries were slightly higher, increasing by 2%.
Inca One President and CEO, Edward Kelly stated, "I am extremely pleased with yet another consistent period from our operations team at Chala One. These three months were one of our most productive on record and I anticipate further increases in future gold production by sourcing higher-grade and higher margin material."
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.
Konstantine Tsakumis, Inca One Gold Corp., Email: [email protected], Telephone: 604-568-4877
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