VANCOUVER, BC--(Marketwired - January 13, 2015) - INCA ONE GOLD CORP. (TSX VENTURE: IO) ("Inca One" or the "Company") is pleased to announce that, effective December 31, 2014, it has completed the construction and installation at the Chala One Plant to enable a processing capacity of 100 tonnes per day ("TPD").
Chala One has been completed and designed to process 100 TPD with an operating schedule of approximately 342 days a year (28.5 days per month). It is anticipated that there will be regular monthly shut downs for preventative maintenance and minor upgrades.
During December 2014, the plant commenced continuous daily test milling. The plant is approaching commercial production on the new 100 TPD processing circuit primarily using the first 50 TPD ball mill and incrementally increasing throughput while it put the second 50TPD ball mill online. With ore supply arriving daily, the Company expects ramp up of ore processing to continue through March 2015.
"Commencing continuous throughput at Chala One is a game-changing milestone for Inca One Gold Corp.," said President & CEO Edward Kelly. "Our mill feed has arrived at grades higher and much quicker than what we modeled for positive cash flow. It is a true testament that being a government-approved milling facility has its competitive advantages for securing mill feed in Peru."
About Inca One
Inca One is a Canadian-based 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 One plant).
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. 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.