Inca One Gold Reports Full Production During the 2nd Quarter
VANCOUVER, BC – July 11, 2018 – INCA ONE GOLD CORP. (TSXV: IO) (Frankfurt: SU9.F) (SSEV: IOCL) (“Inca One” or the “Company”) is pleased to announce that gold production at its wholly owned Chala One Plant (“Chala One”) in June 2018 reached 1,541 ounces. Throughput at Chala One averaged 115 tonnes per day (“TPD”) in June 2018, up from 70 TPD year-over-year and up from 110 TPD from the prior month of May 2018.
Gold-bearing material supplied at Chala One continued to be robust as deliveries reached 2,871 tonnes over this month, an increase of 51% year-over-year (1,906 tonnes) and an increase of 25% over the prior month of May 2018 (2,300 tonnes).
It is important to indicate Inca One surpassed its quarterly production target for the most recent quarter ending June 30, 2018, for the first time. Production over the three months of April, May, and June 2018 (“Q2-2018” or “the Quarter”) reached 9,400 tonnes, an increase of 75% over the same three-month period in 2017 (5,367 tonnes) and an increase of 40% from the prior three-month period of January, February and March 2018 (6,697 tonnes).
|Q2 2018||April||May||June||Totals||YOY change||QOQ Change|
|throughput (tpd)||85 tpd||110 tpd||115 tpd||103 tpd||75%||39%|
|gold production (oz)||1,224||1,531||1,541||4,297||71%||49%|
During Q2-2018, throughput at Chala One averaged 103 TPD, an increase from 59 TPD year-over-year and an increase from 74 TPD from the prior three-month period of January, February and March 2018.
Gold produced during the Quarter reached 4,297 ounces, an increase of 71% year-over-year and an increase of 49% quarter-over-quarter. Average monthly gold production reached approximately 1,430 ounces during the Quarter, as compared to 835 ounces in the comparable quarter in 2017.
Inca One President and CEO, Edward Kelly stated, “We are extremely pleased with this milestone of an average of over 100 TPD these past three months. Our entire team is to be commended for surpassing our target and achieving this record production for the Quarter. We enter the next three- month period with a goal of sustaining the throughput rate at an average of 100 TPD, with a focus on increasing the average gold grade processed.”
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,
President and CEO
INCA ONE GOLD CORP.
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Inca One Gold Corp.
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