Inca One Produces 2,065 Oz of Gold in April 2019
VANCOUVER, BC – May 28, 2019 – INCA ONE GOLD CORP. (TSXV: IO) (Frankfurt: SU9.F) (SSEV: IOCL) (“Inca One” or the “Company”) announces consolidated gold production for April 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 21, 2018.
The Company’s gold production increased 69% YOY this past April 2019 as it reached 2,065 ounces, as compared to 1,224 ounces in April 2018.
Material processed in April reached 4,238 tonnes, as compared to 2,490 tonnes in April 2018, an increase of 70% YOY. Throughput in April averaged a combined 141 tonnes per day (“tpd”).
Deliveries for April 2019 increased 50% YOY with 4,201 tonnes of gold bearing material delivered to both the Chala One and the Kori One plants. Although deliveries were up year over year, an extended rainy season lasting unusually into April has affected the supply of mineral throughout Peru. Many small-scale miners’ production has been delayed due to the weather and varying degrees of damage to some mines. We expect a lag in ore deliveries until overall conditions improve and anticipated seasonal effects have passed.
April 2019 Operations
|Year over Year||2019||2018||YOY Variance|
|Deliveries:||4,201 tonnes||2,805 tonnes||50%|
|Production:||4,238 tonnes||2,490 tonnes||70%|
|Throughput:||141 tpd||83 tpd||70%|
|Gold Produced:||2,065 ounces||1,224 ounces||69%|
Edward Kelly, President, and CEO commented, “A number of our mining partners have been affected by the weather, causing damage to their mines. As a result, there have been delays in deliveries to our plants. Given that the last two quarters of the year are typically our highest delivery periods, management’s expectations are that deliveries and production will increase.”
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,
President and CEO
INCA ONE GOLD CORP.
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Inca One Gold Corp.
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