Inca One Produces 1,817 Oz of Gold in October 2019
VANCOUVER, BC – November 25, 2019 – INCA ONE GOLD CORP. (TSXV: IO) (Frankfurt:SU9.F) (SSEV: IOCL) (“Inca One” or the “Company”) announces consolidated gold production and deliveries for October 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 on a 100% basis.
Gold production this October 2019 decreased 24% on a month over month (“MOM”) basis producing 1,817 ounces of gold as compared to September 2019 (2,391 oz). Gold production this past month decreased 33% YOY as compared to 2,693 ounces in October 2018. This decrease was due to lower inventories available for processing at both plants.
Deliveries for October 2019 (4,518 tonnes) increased by 1% on a MOM basis from September 2019 (4,470 tonnes). Deliveries decreased 22% YOY as compared to 5,808 tonnes in October.
Throughput this past month decreased 24% on a MOM basis averaging 129 tonnes per day (“tpd”) as compared to September 2019 (170 tpd). Total material processed decreased 27% YOY processing 3,986 tonnes in October 2019 as compared to 5,467 tonnes in October 2018. Management’s expectations are for both deliveries and production to pick up again in this current month of November.
|Consolidated Operations||Oct. 2019||Oct. 2018||YOY Variance||Sep. 2019||MOM Variance|
|Deliveries||4,518 tonnes||5,808 tonnes||-22%||4,470 tonnes||1%|
|Throughput||3,986 tonnes||5,467 tonnes||-27%||5,090 tonnes||-22%|
|Gold Produced||1,817 oz||2,693 oz||-33%||2,391 oz||-24%|
|Year to Date Production||20,743 oz||16,004 oz||30%||n/a||n/a|
Edward Kelly, President, and CEO commented, “Year-to-date production is up over last year, having produced over 20,700 ounces of gold. With two months remaining in 2019, we anticipate achieving our highest annual gold production ever.”
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.
For More Information Contact:
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.