Vancouver, BC (PRWEB) March 02, 2012
March 2, 2012 (Financial Press) - Canada-based resource exploration and development company Inca One Resource Corp. (TSX Venture:IO) continues to roll forward in the development process for of its Gold-Copper project in Peru.
Inca One recently announced it has successfully amended the payment requirements for its acquisition of the Las Huaquillas Gold-Copper project.
This move will potentially yield many benefits for Inca One and reveals a lot about its position in the local community.
For example, by delaying the payment, Inca One can focus its ongoing efforts to attain its final permitting with ample cash balance (at last report, the company had almost $1 million cash on hand).
The revised agreement also helps de-risk the development timeline. Given the new payment timeline, Inca One will not have to make any additional payments until it has its final social and drilling permits.
The revised deal also shows how strong a relationship Inca One has been able to build with the original project vendors and the local community. Along with Inca One, they are all stakeholders in the advancement of the Las Huaquillas Gold-Copper project. They all stand to benefit from the projects development as well.
The company right now just needs to advance towards final permitting. That’s exactly what it has been doing.
In the past few weeks Inca One has announced a number of significant steps have been taken to its final permitting stages.
On February 22, 2012, the company announced it had started its Sustainability Program which is required to have begun before social and drilling permits will be issued.
On February 13, 2012, Inca One stated it had completed all elements of its Social Baseline Study as well. This study must also be completed before social and drilling permits will be issued.
It’s all part of the process for Inca One as it continues to making significant strides forward. And once it completes all the pre-permitting requirements and receives its final social and drilling permits, the company will be in position to unlock the (historically estimated) high-potential mineral values contained within the Las Huaquillas Gold-Copper project.
Inca One has demonstrated its plans to directly target numerous anomalies and a resource base that were already discovered and was under development. Past operators of Inca One’s Las Huaquilas Gold-Copper project in Peru estimated a 500 meter section of 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 of 443,000 ounces of gold and 5.3 million ounces of silver.
*Note: All estimates are based on historical exploration results and are NOT compliant with N.I. 43-101 standards.
Those estimates came from just one zone on a property with three other known zones and geological anomalies.
The Inca One story continues to unfold and the company is making significant steps toward its final goals.
Learn more about Inca One at http://www.incaone.com.
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