Financial Press: Inca One Completes Major Milestone in Advancement of Peru Copper-Gold Development Project

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Inca One has fulfilled all requirements necessary for its Baseline Socioeconomic Study, a critical milestone on the development path of its Peruvian copper-gold project.

Canada-based resource exploration company Inca One recently announced the completion of a major milestone in the development of its high-potential copper-gold exploration and development project in Peru.

The company officially completed an extensive Socioeconomic Baseline Study for the communities located in the region surrounding its Las Huaquillas Gold-Copper project.

This is a big step forward for Inca One. The company was required to complete this study in accordance with Peruvian mining law. And the study must be completed before any drilling permits may be issued.

The study acts as a reference point for current socioeconomic conditions in the communities in and around the project. The report is the baseline with which to gauge the benefits resulting from Inca One’s investments in the area and quantify the advantages local citizens receive from the further development of the region’s natural resources.

In all, this is a major milestone for the company and the study's completion is a critical juncture in the evolution of the Las Huaquillas Gold-Copper project.
The project, located along one of the most prolific mining belts in the world, has been under the development by a number of mineral resource development companies over the years and its full potential has yet to be fully developed.

For example, Sulliden Resources, a past operator of the Las Huaquillas project, estimated a sizable reserve base at the project. Sulliden estimated a 500 meter section of just one zone on the project (the Los Socavones Zone) hosted an estimated geological resource of 6.57 million tonnes grading 2.09 g/t Au and 25.2 g/t Ag. That’s the equivalent to 443,000 ounces of gold and 5.3 million ounces of silver.

But that estimate (which is based on historical exploration efforts and is not currently compliant with N.I. 43-101 standards) was made on a 500 meter long section of a trend that stretches 2.2 kilometers. It also is just one zone contained within the entire project.

Furthermore, the completion of the study in line with the company’s development timeline and keeps Inca One on the trajectory it has to be start drilling operations on the project before the end of 2012.

Edward Kelly, Inca One’s CEO said of the completion of the study, “The completion of this study is a major milestone in completing all the requirements for final exploration permitting. The information obtained from socioeconomic baseline study will be included in our Environmental Impact Statement required for the drilling permit. We have a solid team of community relation experts and this demonstrates the valued relationships we are building with the local community. This is all in line with our projected exploration and permitting timeline.”

Inca One’s goal is to further explore and develop the Las Huaquillas Gold-Copper. The early stages of the process require extensive studies and work with the local community.

Inca One, at this stage in its development, has focused on these increasingly important areas to ensure a smoother development path as it progresses.
Next up for Inca One is to complete the final requirements to receive its social and drilling permits in a timely manner. And with the community behind Inca One and a project with proven potential, the company is on its way to unlocking the full value of the Las Huaquillas Gold-Copper Project and developing an N.I. 43-101 compliant resource estimate.

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April Saretsky

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