INCA ONE RESOURCES CORP. (TSX VENTURE:IO) is pleased to announce that it and its operating partner at the Corizona Gold Project in Lima Peru, Canadian Mining SA, have commenced preparations for initial bulk sampling from the Los Angeles Vein.
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.
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We acknowledge the [financial] support of the Government of Canada.