Inca One stakes 16,400 hectares surrounding Las Huaquillas gold-copper property in Peru
Friday, Feb 01, 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)(i). 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.
"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.