VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan 31, 2013) - INCA ONE RESOURCES CORP. (TSX VENTURE:IO) ("the Company" or "Inca One") announces receipt from Minera Huaquillas that they have staked an additional 16,700 hectares of land surrounding its Las Huaquillas Project in Peru. With this additional land, the total continuous claim holdings in the area are 20,300 hectares.
Las Haquillas was subject to 1,500 meters of diamond drilling in 1988 by the Peruvian Government and followed up with 5,000 meters of diamond drilling between 1996 and 1998. As a result, Sulliden Resources estimated a geological resource on Las Huaquillas of 6.57 million tons grading 2.09 g/t Au and 25.2 g/t Ag (equivalent to 443,000 ounces of gold and 5.3 million ounces of silver)*. The historical estimate used a cut-off of 1.5 g/t gold and remains open at depth and along its 2.2 Km strike.
Select historical high-grade intercepts on the Las Haquillas include:
|DDH Hole||From (m)||To (m)||Length (m)||Au (g/t)||Ag (g/t)|
"The high-grade nature of these drilling results are very encouraging and suggest excellent potential for continued exploration success both along the 2.2Km strike and at depth. It is important to get a commanding land position in an area that is geologically conducive for world class deposits and we accomplished that through this staking program," commented Edward Kelly, President of Inca One.
The company recently announced on January 28th, 2013 it received receipt from Minera Huaquillas that it has submitted the Environmental Impact Statement (DIA) to the Ministry of Energy and Mines of Peru for the Las Huaquillas Project.
Once the Company obtains the approval of the DIA from the Peruvian government (DGAAM), the Company will be able to commence the necessary permit application for water and use of the surface land.
The technical information in this news release has been reviewed on behalf of the Company by Thomas A. Henricksen, PhD, a Qualified Person under NI 43-101.
About Inca One:
Inca One Resources Corp. (TSX VENTURE:IO) is focused on acquiring and advancing properties in Peru with an option to acquire a 100% interest in the Las Huaquillas Gold-Copper project.
In 1998, Sulliden Resources estimated a geological resource on Las Huaquillas of 6.57 million tons grading 2.09 g/t Au and 25.2 g/t Ag (equivalent to 443,000 ounces of gold and 5.3 million ounces of silver)*. The historical estimate used a cut-off of 1.5 g/t gold and remains open at depth and along its 2.2 Km strike.
*Note: The historic resource was calculated in 1998 and the Company has not completed the work necessary to have the historical estimate verified by a Qualified Person. The Company is not treating the estimate as a current NI 43-101 defined resource and the historical estimate should not be relied upon. The Project will require considerable future exploration which the Company intends to carry out in due course.
More information on the project and Inca one can be found on its web site 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.
- Investment & Company Information