Inca One produces 2,297 oz of gold in January 2019

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Inca One produces 2,297 oz of gold in January 2019

Canada NewsWire

VANCOUVER, Feb. 14, 2019 /CNW/ - INCA ONE GOLD CORP. (TSXV: IO) (Frankfurt: SU9.F) (SSEV: IOCL) ("Inca One" or the "Company") is pleased to announce consolidated gold production for January 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 21st 2018.

The Company's gold production increased 178% YOY this past January 2019 as it reached 2,297 ounces as compared to 825 ounces in January 2018.

Material processed in January reached 4,878 tonnes, as compared to 1,492 tonnes in January 2018, an increase of  227% YOY. Throughput in December averaged a combined 157 tonnes per day ("TPD").

Deliveries in January totaled 4,499 tonnes, an increase of 287% YOY from January's 2018 total of 1,163 tonnes.

January 2019 Operations




Year over Year

2019

2018

YOY Variance

Deliveries:

4,499 tonnes

1,163 tonnes

287%

Production:

4,878 tonnes

1,492 tonnes

227%

Throughput:

157 tpd

48 tpd

227%

Gold Produced:

2,297 ounces

 825 ounces

178%

 

Driving the Company's January growth was the addition of Kori One and organic growth of deliveries to Chala One which increased by 103% YOY. The improvements at Chala One are significant as the slowest production time of the year for the small-scale mining sector is during the first quarter due to the rainy season.

Edward Kelly, President, and CEO commented, "I am pleased the Company's operations continue to progress consistently as we realized increases across the spectrum from our yearly 2018 averages in terms of production, throughput and deliveries. We have entered calendar 2019 on a strong note and look forward to our most productive year yet."

Stock Option Grant

Pursuant to the Company's Stock Option Plan, the Board of Directors has authorized the granting of incentive stock options (the "Options") to directors and officers of the Company to acquire an aggregate of 2.2 million common shares of the Company at an exercise price of $0.05 per share.

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.

Cision View original content:http://www.prnewswire.com/news-releases/inca-one-produces-2-297-oz-of-gold-in-january-2019--300795527.html

SOURCE Inca One Gold Corp.

View original content: http://www.newswire.ca/en/releases/archive/February2019/14/c3971.html

Copyright CNW Group 2019

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