Vancouver, British Columbia--(Newsfile Corp. - April 19, 2022) - INCA ONE GOLD CORP. (TSXV: INCA) (OTCQB: INCAF) (FSE: SU92) ("Inca One" or the "Company") a gold producer operating two mineral processing facilities in Peru, reports (unaudited) consolidated gold and silver sales for the three months of January, February and March 2022 ("Q1 2022" or "the Quarter"). All comparative year-over-year ("YoY") sales and production numbers represent consolidated operations from both Chala One and Kori One facilities, collectively the ("Plants").
Inca One recorded its most productive first quarter on record with quarterly gold and silver sales reaching approximately US$14.5 million, a 75% increase YoY as compared to Q1 2021 sales of US$8.3 million.
Gold production in the quarter also increased YoY by 59%. The growth in production and sale of gold dore from both plants was driven by the rapid and effective deployment of the Company's available working capital towards the purchase of mineral throughout the Quarter.
| Consolidated Operations |
Q1 2022 |
Q1 2021 |
YoY change |
| Deliveries (tonnes) |
19,052 |
7,208 |
164% |
| Milling (tonnes) |
18,464 |
8,303 |
122% |
| Gold Production (ounces) |
6,788 |
4,259 |
59% |
| Sales (US$) |
$14.5 M |
$8.3 M |
75% |
The Company reports YoY increases in ore purchases of 164% to 19,052 tonnes and as a result, milling activity increased by 122% as the Company processed 18,464 tonnes of material. Demand for milling services continues to remain strong with month over month increases throughout this Quarter.
The Company milled an average of 204 tonnes per day ("TPD"), a new throughput record for the first Quarter.
About Inca One
Inca One Gold Corp is an established gold producer operating two fully permitted, gold mineral processing facilities in Peru. The Company possesses a combined 450 TPD permitted operating capacity at its two fully integrated plants, Chala One and Kori One and has produced more than 116,000 ounces of gold, generating over US$165 million in sales from its processing operations. Inca One is led by an experienced and capable management team that has established the Company as a trusted leader in servicing permitted, small-scale and artisanal miners (ASM) in Peru. Peru is one of the world's largest producers of gold, and its ASM sector is estimated by government officials to be valued in the billions of dollars annually. To learn more, visit www.incaone.com.
Figure 1. Inca One's gold processing facilities in Peru (left: Chala One facility; right: Kori One facility)
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On behalf of the Board,
Edward Kelly
President and CEO
Inca One Gold Corp.
For More Information Contact:
Konstantine Tsakumis
ktsakumis@incaone.com
604-568-4877
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, they involve inherent risks and uncertainties by their very nature. 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 operating 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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