VANCOUVER, BC--(Marketwired - October 21, 2014) - INCA ONE GOLD CORP. (TSX VENTURE: IO)("Inca One" or the "Company"), further to its press releases of October 2 and October 8, 2014, is pleased to announce delivery of the second 50 tonne per day ("TPD") ball mill to the Chala plant ahead of schedule. Build-out continues to be on schedule with full commissioning expected by the end of the year.
The concrete pads and retaining walls have been completed and installation of the two 50 TPD ball mills are currently underway with commissioning of each ball mill expected to be completed within two weeks of installation. All other equipment and materials are also on site to allow the Company to proceed with the installation. Full commissioning of the expanded plant appears to be on schedule for completion by the end December 31, 2014.
As the installation carries on, the Company continues to purchase, crush, stockpile, and test-process Company-approved ore deliveries through an interim ore milling circuit. This initiative will help the Company continue to establish best-practices in their production process.
Processing and test-milling through the 50 TPD ball mills is expected to begin mid to late November 2014, while commencement of full scale commercial production is anticipated early 2015.
Upon completion of the build-out, the Company expects to be able to weigh, crush, assay and assess the chemistry and metallurgy of all incoming ore onsite in a timely fashion. The goal is to accumulate and stockpile ore purchases for up to 30 days production at 100 TPD through-put.
Inca One has made extensive progress since acquiring the mill in 2013, and is in the final stages of its transition from an exploration company to an ore processing company servicing government-permitted small-scale mining operations in Peru.
About Inca One Gold Corp.: Inca One is a Canadian-based mineral resource company and ore 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 ore (such as the Company's Chala mill).
On behalf of the Board,
President & 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 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. It 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.