Inca One produces 1,846 oz of gold in June 2019
VANCOUVER, July 30, 2019 /CNW/ - INCA ONE GOLD CORP. (TSXV: IO) (Frankfurt: SU9.F) (SSEV: IOCL) ("Inca One" or the "Company") announces consolidated gold production and deliveries for June 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.
Inca One reports that gold production this past June 2019 increased 20% YOY producing 1,846 ounces of gold, as compared to 1,541 ounces in June 2018. Gold production as expected picked up again on a month over month ("MOM") basis increasing 30% from the prior month of May 2019 (1,420 oz) as production caught up to the increase in deliveries.
Deliveries for June 2019 increased 30% YOY with 3,735 tonnes of gold bearing material delivered to both the Chala One and the Kori One plants. Deliveries also picked up 7% on a MOM basis from May 2019 (3,491 tonnes).
Throughput in June 2019 reached 3,774 tonnes, as compared to 3,167 tonnes in June 2018, an increase of 19% YOY. Throughput also climbed 34% MOM, averaging 126 tonnes per day ("tpd") in June after a slower month of May 2019 (94 tpd).
Operations | ||||
Year over Year | June 2019 | June 2018 | YOY Variance | |
Deliveries: | 3,735 tonnes | 2,871 tonnes | 30% | |
Throughput: | 3,774 tonnes | 3,167 tonnes | 19% | |
Tonnes Per Day (tpd) | 126 tpd | 106 tpd | 19% | |
Gold Produced: | 1,846 ounces | 1,541 ounces | 20% | |
Edward Kelly, President, and CEO commented, "As anticipated our production has been playing catch up over the previous month with the inconsistent and delayed deliveries impacting our second quarter production. Our mining partners have indicated that their production has picked up and our supply of material for processing will continue to increase towards seasonal levels again."
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,
Edward Kelly,
President and CEO
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.
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SOURCE Inca One Gold Corp.
View original content: http://www.newswire.ca/en/releases/archive/July2019/30/c9821.html