INCA ONE GOLD CORP., is pleased to announce that it has recovered 4,864.64 grams (156.53 ounces) of gold and 5,714.23 grams (183.72 ounces) of silver from the resumed test milling on the original milling circuit at its Chala One plant in Chala, Peru. Test milling was resumed in October 2014, which was announced in a Company press release on November 20, 2014.
"We are very pleased to have received our first gold and silver from refining of our loaded carbon which was recently harvested from our test milling operations," said Edward Kelly, Inca One's President and CEO. "All systems in the test milling appear to be performing well, which gives us confidence in the design and construction of the expanded 100 TPD capacity plant. In addition, our ore purchasing activities are creating a significant stockpile of high grade ores for processing at the Chala Plant."
The Company also wishes to announce that in October 2014, it entered into an agreement with a key Peruvian employee to provide share remuneration in addition to their base salary. Per the agreement, the employee will receive USD$80,000 worth of Inca One common shares payable in four equal quarterly instalments, with such shares to be issued at the greater of (i) the maximum discount to the market price on the TSX-V at the end of such quarter as permitted by TSX-V policies, and (ii) CAD$0.15. The shares will be subject to a four month hold period following the closing. This transaction is subject to the approval of the TSX Venture Exchange.