Inca One Prepares for Bulk Sampling from High-Grade Los Angeles Vein at Corizona
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/30/13 -- INCA ONE RESOURCES CORP. (TSX VENTURE: IO) -("the Company" or "Inca One") is pleased to announce that it and its operating partner at the Corizona Gold Project in Lima Peru, Canadian Mining SA ("the Partners"), have commenced preparations for initial bulk sampling from the Los Angeles Vein (formally Vein B).
To date blasting, widening and timbering of Level 0 of the Los Angeles Vein has been completed while the shaft between Level 0 and Level -2 is being prepared to access the vein on Level -2 for bulk sampling. Level -2 of the Los Angeles Vein runs both East and West. The Partners plan to extract 20 tpd of Vein material from the two faces on Level -2 during the bulk-sampling program.
Once Level -2 commences material extraction, a 15m shaft down to Level -3 will be developed to provide two additional active faces.
During the development of the Los Angeles tunnel, the Partners are reviewing various milling operations to process the material from Corizona.
"We are very pleased with the rapid, on-budget execution of our operations team in advancing Corizona," said Edward Kelly, President& CEO of Inca One. "Nine staff members have been hired, we have a fully operational office and infrastructure in place and we're now procuring all necessary equipment to expedite the bulk sampling program."
The Corizona project is subject to a formalization process, which allows exploration and production of up to 350 tons per day while working toward formal operating permits and authorizations. Canadian Mining is a private Peruvian company, which has an option to acquire the project from the underlying property owner. It is submitting an IGAC (corrective environmental management instrument) to the Ministry of Energy and Mines as due procedure to obtain commercial operating permits.
More information on the company and its projects can be found at www.incaone.com.
On behalf of the Board,
INCA ONE RESOURCES CORP.
Edward Kelly, President& CEO
Statements in this press release 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 such as the risk that the closing may not occur for any reason. Actual results in each case could differ materially from those currently anticipated in such statements due to factors such as: (i) the inability of the parties to consummate the definitive letter agreement; (ii) fluctuation of mineral prices; (iii) a change in market conditions; (iv) the inability to produce the technical report for any reason whatsoever; and (v) the refusal of the Exchange to accept the proposed transaction for any reason whatsoever. Except as required by law, the Company does not intend to update any changes to such statements.
Investors should note that no resource has been established on the Corizona Property in respect of which the bulk sampling program has been initiated.
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 release.
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