Inca One Announces Export Of An Additional 3,186 Ounces Of Gold And 4,069 Ounces Of Silver At Chala One Since June 3, 2015
VANCOUVER, BC – August 11, 2015 - INCA ONE GOLD CORP. (TSX-V:IO) ("Inca One" or the "Company”) is pleased to announce that since its press release of June 9, 2015, it has produced an additional total of 3,186 ounces (99,096 grams) of gold and 4,069 ounces (126,560 grams) of silver from 4,199 tonnes of material in connection with operations undertaken from June 3, 2015 through July 31, 2015 at the Company’s subsidiary, Chala One S.A.C. (“Chala One”) in Peru.
Including the results announced today, the Company has processed a total of 11,247 tonnes of material, recovered and sold a total of 8,513 ounces of gold and 8,882 ounces of silver. This amounts to approximately 0.76 ounces of gold recovered per tonne of material processed.
Over the last few weeks the Company has begun expansion and is nearing completion of a new 100,000 tonne capacity tailings pond. At current production levels, the new tailings pond is expected to hold three additional years of production tailings.
Edward Kelly, president and chief executive officer, stated: "The Chala One plant has delivered a record performance in the past eight weeks despite challenging market conditions. Looking forward over the remaining months in 2015, we anticipate a continued production rate of 80 tonnes per day (“TPD”) to 100 TPD with a focus on increasing recoveries through processes we can bring in house and operational efficiencies."
Van Phu Bui, B.Sc, PGeo, a director of the Company and a qualified person under the terms of National Instrument 43-101, standards of disclosure for mineral projects, has approved the technical information in this news release.
About Inca One
Inca One is a Canadian-based mineral processing company with a gold milling facility in Peru, servicing government-permitted small-scale miners. As part of the terms of the original purchase agreement for the Chala, Peru processing facility, Inca One has an agreement between its wholly owned subsidiary, Chala One SAC, and the seller and initial permit applicant, to operate under the umbrella of formalization until the successful completion of all the environmental and operating permits. Peru, a highly mineral-rich country, is one of the world's top producers of gold, silver, copper and zinc, with substantial production coming from small scale miners who need government permitted milling facilities to process their mineral (such as the Company's Chala Plant).
On behalf of the Board,
President & CEO
INCA ONE GOLD CORP.
For More Information Contact:
Inca One Gold Corp.
Telephone: (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 the Company has limited operating experience with its Chala plant and 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.
This news release deals only with the Company's Chala plant, which is an industrial project. This presentation does not deal at all with the Company's sole mineral exploration property, the Corizona property. Investors should note that no resource has been established on the Corizona property and all of the material currently being processed at the Chala plant is received from local small-scale mining operations.