22:09:37 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Inca One Gold Corp (2)
Symbol IO
Shares Issued 146,426,552
Close 2018-08-15 C$ 0.045
Market Cap C$ 6,589,195
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Inca One Gold produces 1,291 oz Au in July

2018-08-16 08:42 ET - News Release

Mr. Edward Kelly reports

INCA ONE GOLD PRODUCES 1,291 OUNCES GOLD IN JULY 2018

Inca One Gold Corp.'s gold production in July, 2018, reached approximately 1,291 ounces as compared with 844 ounces in July, 2017, an increase of 53 per cent year over year (YOY).

Material processed in July, 2018, also increased on a YOY basis as processing in July reached 2,989 tonnes, an increase of 53 per cent YOY, but slightly off last month's record numbers of 3,167 tonnes, a decrease of 6 per cent, on a month-over-month basis, averaging 96 tonnes per day (tpd).

The company's supply of gold-bearing material for processing hit a new watermark as mineral received in July, 2018, was 3,950 tonnes, representing an increase of 86 per cent on a YOY basis and an increase of 38 per cent from the prior month June, 2018 (2,871 tonnes).

"We continue to see operations at Chala One maintaining 96 per cent to 100 per cent of its permitted capacity during the past several months. Though our grade was below previous averages, it is encouraging to see positive year-over-year results as our team efficiently executes our goal," said Edward Kelly, president and chief executive officer of Inca One. "It is also pleasing to see a significant bump up in deliveries, reaffirming our well-known belief of ample supply of quality material for processing. Looking forward, our goal is to maintain our current output which will allow us to hit our production targets again for this quarter, while seeking higher-grade material. Additionally, we will work to close the Koricancha transaction, bringing it on line to achieve the synergies and operating efficiencies that will fuel growth as we scale the business in the second half of this calendar year."

About Inca One Gold Corp.

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 sixth-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 at approximately $3-billion (U.S.) 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.

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