Thursday, February 14, 2019



Inca One produces 2,297 oz of gold in January 2019

 
VANCOUVER, Feb. 14, 2019 /CNW/ - INCA ONE GOLD CORP. (TSXV: IO) (Frankfurt: SU9.F) (SSEV: IOCL) ("Inca One" or the "Company") is pleased to announce consolidated gold production for January 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 21st 2018.

The Company's gold production increased 178% YOY this past January 2019 as it reached 2,297 ounces as compared to 825 ounces in January 2018.
Material processed in January reached 4,878 tonnes, as compared to 1,492 tonnes in January 2018, an increase of  227% YOY. Throughput in December averaged a combined 157 tonnes per day ("TPD").
Deliveries in January totaled 4,499 tonnes, an increase of 287% YOY from January's 2018 total of 1,163 tonnes.

January 2019 Operations



Year over Year
2019
2018
YOY Variance
Deliveries:
4,499 tonnes
1,163 tonnes
287%
Production:
4,878 tonnes
1,492 tonnes
227%
Throughput:
157 tpd
48 tpd
227%
Gold Produced:
2,297 ounces
 825 ounces
178%

Driving the Company's January growth was the addition of Kori One and organic growth of deliveries to Chala One which increased by 103% YOY. The improvements at Chala One are significant as the slowest production time of the year for the small-scale mining sector is during the first quarter due to the rainy season.
Edward Kelly, President, and CEO commented, "I am pleased the Company's operations continue to progress consistently as we realized increases across the spectrum from our yearly 2018 averages in terms of production, throughput and deliveries. We have entered calendar 2019 on a strong note and look forward to our most productive year yet."

Stock Option Grant
Pursuant to the Company's Stock Option Plan, the Board of Directors has authorized the granting of incentive stock options (the "Options") to directors and officers of the Company to acquire an aggregate of 2.2 million common shares of the Company at an exercise price of $0.05 per share.

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.
SOURCE Inca One Gold Corp.

View original content: http://www.newswire.ca/en/releases/archive/February2019/14/c3971.html

Contact:
Konstantine Tsakumis, Inca One Gold Corp., Email: ktsakumis@incaone.com, Telephone: 604-568-4877

Wednesday, February 6, 2019

Max Resource finds Au conglomerate at Choco

2019-02-06 10:17 ET - News Release


Mr. Brett Matich reports
GOLD BEARING CONGLOMERATE DISCOVERY EXPANDS THE MINERALIZED ZONE
Max Resource Corp. has provided exploration results from the company's 1,757-square-kilometre gold-bearing conglomerate, Choco precious metals project, located 100 kilometres southwest of Medellin, Colombia.
Highlights
  • Continuing exploration by the Choco team has located gold-bearing conglomerate, designated outcrop 2, a farther 7.5 kilometres to the south;
  • The area the company's continuing exploration now covers 36 square kilometres;
  • Processing of the gold-bearing conglomerate from the six two-metre-by-two-metre-by-30-centimetre trial pits and the two outcrops continues and results will be reported as received and verified;
  • Field exploration continues, with the objective of increasing the lateral extent of the conglomerates and gold mineralization of the company's Choco Precious metals district area.
Brett Matich, Max's president and chief executive officer, commented: "The continuing exploration success suggests Max may well be on the cusp of a new gold discovery. The results of this exploration program will provide an indication of the scale of this project."
Exploration to date
  • Sinking of six two-metre-by-two-metre-by-30-centimetre trial pits and sampling of two outcrop exposures over a 36-square-kilometre area;
  • Processing 25-kilogram to 50-kilogram random samples from the plus 2,000 kilograms of conglomerate produced from each of the six test pits to confirm the presence of free gold;
  • Processing 25 kilograms to 50 kilograms of chip samples from the two outcrop exposures to confirm the presence of free gold;
  • Free gold was observed in the first sample from each of the first five trial pits;
  • Confirmation of a vertical thickness of 12 metres from outcrop 1 in near the centre of the 36-square-kilometre area.
Exploration strategy
As shown in the above exploration strategy schematic, the company is working on an exploration model where the gold-bearing conglomerates have formed at the base of the western slopes of the mountains to the east.

The company considers systematic bulk sampling at surface to be the most practical means of determining grade, processing characteristics and the lateral extent of the flat-lying gold-bearing mineralized system. Sampling exposed faces of outcrops, providing initial assessment of thickness, depth and vertical continuity of the gold through the system. The six two-metre-by-two-metre-by-30-centimetre-deep trial pits are excavated from surface by pneumatic hammer. A measured specific gravity of 2.2 indicates plus 2,000 kilograms of hard rock conglomerate is collected from each pit. The continuing exploration in the central part of the mineralized area indicates a vertical thickness of 12 metres. Samples were taken down the face of the outcrop to determine gold distribution vertically through the conglomerate. Analytical results are pending.

Choco precious metals project
Max has 100-per-cent ownership of 82 and 50 per cent of seven mineral licence applications, totalling over 1,757 square kilometres, located within Choco department, approximately 100 kilometres southwest of the city of Medellin, Colombia. Compania Minera del Choco Pacifico produced 1.5 million ounces of surface gold and one million ounces of surface platinum from the Choco district between 1906 to 1990, largely limited to an average depth of eight metres or less.

Max's Choco precious metals project covers, or is adjacent to, much of Choco Pacific's historic exploration and production areas. Choco Pacific historic reports indicate the hard-rock conglomerates underlying the surface production areas are gold bearing, extensive, shallow and generally flat lying with thicknesses from a few metres to 20 metres.

Sampling and analysis methodology
Sampling integrity is essential. The conglomerate (hard rock) surface is cleaned and a two-metre-by-two-metre square is marked. A pneumatic hammer then chips and breaks the conglomerate outcrop to a depth of 30 centimetres. The broken conglomerate is collected in prenumbered rice bags, with approximately 25 kilograms per bag. Each prenumbered bag is sealed by the geologist and transported to secure, locked storage at the Novita camp, in Choco. Two bags per pit are then transported by company staff to the town of Istmina, where the bags are transported to Medellin for processing at Actlabs Medellin and the CIMEX Mineral Institute at the Medellin Mines Faculty of the National University of Colombia.

Each approximate 50-kilogram sample is first crushed to two millimetres. The minus-two-millimetre and plus-two-millimetre fractions are separated by sieving with each fraction subsequently pulverized. The minus-two-millimetre fractions are concentrated by gravity pan and visually examined for free gold by Max technical staff. There has been no analysis conducted on the plus-two-millimetre fraction.

Noble transaction
As previously announced (see Max's press release dated Jan. 28, 2019), Max continues to pursue the acquisition of mineral rights and concessions in and around the Novita project from Condoto Platinum Ltd., a wholly owned subsidiary of Noble Metals Ltd. Because Max proposes to issue 26,665,896 common shares to Noble Metals on the closing of this transaction (constituting approximately 32.7 per cent of the issued and outstanding shares of Max after adjusting for the transaction), the transaction would constitute Noble Metals as a new control person of Max and requires both TSX Venture Exchange and shareholder approval. Max has been working with the TSX-V in an effort to obtain conditional approval, while simultaneously adjusting the transaction structure to remediate concerns developed over the course of its due diligence. Max anticipates that it should be in a position to request shareholder approval in the near future. The transaction remains subject to TSX-V approval.

About Max Resource Corp.
Max's focus is to explore and consolidate gold and platinum group mineral assets in the richly endowed Choco mineral district of Colombia and to explore the Gachala sedimentary copper-hosted mineral belt of Colombia.
We seek Safe Harbor.