Inca One Produces An Additional 1,665 Ounces Of Gold And 1,119 Ounces Of Silver At Chala One
VANCOUVER, BC – April 14, 2015 - INCA ONE GOLD CORP. (TSX VENTURE: IO) (“Inca One” or the “Company”) is pleased to announce that since its press release of February 24, 2015, its wholly owned subsidiary Chala One SAC (“Chala One”) has recovered an additional total of 1,665 ounces (51,828 grams) of gold and 1,119 ounces (34,789 grams) of silver from 2,303 tonnes of material in connection with operations undertaken from February 25, 2015 through April 8, 2015.
Including the results announced today, the Company has processed a total of 4,196 tonnes of material and recovered a total of 3,375 ounces of gold and 2,619 ounces of silver since December 3, 2014. This amounts to 0.80 ounces of gold recovered per tonne of material processed.
Average production throughput at the plant since February 1, 2015 has been approximately 50 tonnes per day (“TPD”). The Company, in its March 25, 2015 press release announced that as of February 1, it has reached commercial production at the Chala One plant. Overall production is now ramping up to the full 100 TPD capacity.
“Now that we have reached commercial production at Chala One, we are pleased to see consistent tonnage throughput and gold production” said Edward Kelly, Inca One’s President and CEO. “We expect to maintain this operational consistency paying attention to all parameters that relate to maintaining good levels of recovery and low unit costs as we proceed to ramp to full capacity and thereby meet or exceed our performance objectives and forecasts for 2015.”
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. A highly mineral-rich country, Peru 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.
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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.