Vancouver, British Columbia--(Newsfile Corp. - October 8, 2019) - INCA ONE GOLD CORP. (TSXV: IO) (FSE: SU9) (SSEV: IOCL) ("Inca One" or the "Company") announces consolidated gold production and deliveries for September 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 September 2019 increased 20% on a month over month ("MOM") basis producing 2,391 ounces of gold as compared to August 2019 (1,988 oz), as production reached its second highest level so far this year. Gold production this past month decreased 21% YOY as compared to 3,032 ounces in September 2018.
Deliveries for September 2019 decreased by 4% on a MOM basis from August 2019 (4,651 tonnes). Deliveries decreased 27% YOY with 4,470 tonnes of gold bearing material delivered to both the Chala One and the Kori One plants.
Throughput this past month climbed to its highest level year to date increasing 28% on a MOM basis averaging 170 tonnes per day ("tpd") as compared to August 2019 (133 tpd). Total material processed decreased 15% YOY processing 5,090 tonnes in September 2019 as compared to 5,976 tonnes in September 2018.
| Consolidated Operations | Sep-19 | Sep-18 | YOY Variance | Aug-19 | MOM Variance |
| Deliveries: | 4,470 tonnes | 5,838 tonnes | -23% | 4,651 tonnes | -4% |
| Production: | 5,090 tonnes | 5,976 tonnes | -15% | 4,129 tonnes | 23% |
| Throughput: | 170 tpd | 199 tpd | -15% | 133 tpd | 28% |
| Gold Produced | 2,391 oz | 3,032 oz | -21% | 1,988 oz | 20% |
Edward Kelly, President, and CEO commented, "September's production picked up nicely at both plants, almost reaching our earlier highs this year. Additionally, the third quarter of 2019 was our most productive this year as we produced 23% more gold over the prior second quarter and 6% more gold over our third quarter of 2018. I am pleased with this positive trending production in the last three months as we now enter the final calendar quarter of 2019."
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.
For More Information Contact:
Konstantine Tsakumis
Inca One Gold Corp.
604-568-4877
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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 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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