Inca One Produces 1,979 Oz of Gold in November 2019

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Vancouver, British Columbia--(Newsfile Corp. - December 12, 2019) - INCA ONE GOLD CORP. (TSXV: IO) (FSE: SU91) (SSEV: IOCL) ("Inca One" or the "Company") announces consolidated gold production and deliveries for November 2019 from its Chala One Plant ("Chala One") and Koricancha Plant ("Kori One"). All comparative year-over-year ("YOY") production numbers represent consolidated operations from both facilities.

Gold production this November 2019 increased 9% on a month over month ("MOM") basis producing 1,979 ounces of gold as compared to October 2019 (1,817 oz). Gold production this past month decreased 24% YOY as compared to 2,610 ounces in November 2018.

Deliveries in November 2019 reached their highest level to date this year (4,873 tonnes) increasing by 8% on a MOM basis from October 2019 (4,518 tonnes). Deliveries decreased 19% YOY as compared to 6,012 tonnes in November 2018.

Throughput this past month also increased 17% on a MOM basis averaging 151 tonnes per day ("tpd") as compared to October 2019 (129 tpd). Total material processed decreased 6% YOY processing 4,533 tonnes in November 2019 as compared to 4,814 tonnes in November 2018. Both deliveries and processing totals rebounded from the prior month of October.

Consolidated OperationsNov. 2019Nov. 2018YOY VarianceOct. 2019MOM Variance
Deliveries4,873 tonnes6,012 tonnes-19%4,518 tonnes8%
Throughput4,533 tonnes4,814 tonnes-6%3,986 tonnes14%
Gold Produced1,979 oz2,610 oz-24%1,817 oz9%
Year to Date Production22,722 oz18,614 oz22%n/an/a

 

Edward Kelly, President, and CEO, commented, "Deliveries to our plants in November climbed to their highest levels this year, reaching over 4,800 tonnes and higher than our monthly throughput, allowing us to stockpile additional material for processing."

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.

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/50734

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