Inca One Gold Produces 5,284 Ounces Gold in Calendar Q1 2020

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$500/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Vancouver, British Columbia--(Newsfile Corp. - May 12, 2020) -  INCA ONE GOLD CORP. (TSXV: IO) (FSE: SU9.F) (SSEV: IOCL) ("Inca One" or the "Company") reports consolidated gold production and deliveries for the three month period of January, February and March 2020 ("Q1 2020" or "the Quarter") from its Chala One Plant ("Chala One") and Koricancha Plant ("Kori One"). All comparative year-over-year ("YOY") production numbers are on a 100% basis and represent consolidated operations from both facilities.

Q1 2020 Results

Consolidated OperationsQ1 2020Q1 2019YOY VarianceQ4 2019QOQ Variance
Deliveries (tonnes)9,499 13,740-31%14,292 -33%
Throughput (tonnes)9,652 14,318 -33%13,666 -29%
Throughput (TPD)106159-33%149-29%
Gold Produced (oz)5,289 7,063 -25%5,924-11%
Gold Sales (US$)$7.7 million$10.4 million-26%$9.8 million-21%

 

Following what began as a strong supply of ore being delivered in February to our plants, the storyline that dominated the Quarter in March was the general tailing off of mineral supply as transportation around the country became subject to Governmental restrictions in light of the Coronavirus (COVID-19) pandemic. The anticipation is that as transport restrictions ease, supplies of mineral will pick up again allowing for a return to regular operations. What is of particular significance, and which bodes well once normalcy returns, is the grade of material being processed saw a significant increase as a result of new providers from Northern Peru choosing Inca One as their processing partner of choice.

Inca One President and CEO, Edward Kelly stated, "Operations at both Chala One and Kori One facilities continue under tight managerial restrictions while monitoring and maintaining the health and safety of our plant staff and employees. We do so in full compliance with the Peruvian government declaring a state of national emergency and the Mining Ministry's recent declarations of ensuring the essential supply chain of services."

As Inca One previously announced on March 30, 2020, operations have been temporarily curtailed due to the Peruvian government's supreme decree declaring a national state of emergency in response to the COVID-19 worldwide pandemic. In response to COVID-19, the Company quickly implemented new protocols at its plants and offices to safeguard and reduce the possibility of transmission of the disease. These protocols included control measures aimed at preventing the potential spread of the virus, compliance with the government's stay at home quarantine, along with suspending or limiting non-essential travel, if work cannot be carried out remotely. At this time we can confirm that we are not aware of any COVID-19 related cases at any of our locations and offices.

About Inca One

Inca One Gold Corp is a TSXV listed, small-cap, gold producer operating two, fully permitted, gold ore processing facilities in Peru. Peru is the world's sixth-largest producer of gold and its small scale mining sector is estimated by government officials to be valued in the billions of dollars annually. The Company, now in its sixth year of commercial production, is led by an experienced and capable management team that has established Inca One Gold as a trusted leader in servicing government permitted, small scale miners in Peru. Inca One Gold possesses a combined 450 tonnes per day permitted operating capacity at its two fully integrated plants, Chala One and Kori One, and is targeting a fourth consecutive year of increased production and sales growth.

On behalf of the Board,

Edward Kelly
President and CEO
INCA ONE GOLD CORP.

For More Information Contact:

Konstantine Tsakumis
Inca One Gold Corp.

[email protected]

604-568-4877

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/55768

Comment On!

140
Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to CanadianInsider.com (via Easy Blurb).