Inca One Gold Reaches Next Production Milestone at Chala One

Inca One Gold (TSXV:IO) reported that its Peruvian subsidiary, Chala One SAC, is now producing at 100 tonnes per utilization day. The company has also secured an additional $500,000 in financing.

As quoted in the press release:

This recent two week production period included ten days of production at or in excess of 100 TPUD and two days of production at lower levels for scheduled maintenance. The Company intends to continue to maximize production and operational efficiencies and operate as close to production capacity as possible.

The Company continues to focus on mineral purchasing and increasing the tonnage of materials in its stockpiles in order to sustain a 100 TPUD operating rate, while at the same time focusing on production levels and recoveries.

Inca One president and CEO, Edward Kelly, said:

With this milestone now reached I would like to thank the Peruvian operating team for achieving sustained operations at the Chala Plant, meeting our timing and accomplishing the production level we set out. We are also very happy with the consistent progress in scaling up our mineral purchasing activities, and recently achieving new highs both in weekly tonnes of mineral acquisition, along with plant throughput. With this increase in mineral purchasing and inventory levels, and for some strategic capital investments, we have also secured an additional USD$500,000 in financing.

Click here to read the Inca One Gold (TSXV:IO) press release