Arequipa, Peru, September 20, 2012 --(PR.com
)-- Inca Peruvian Mining, Ltd. is pleased to announce that during the construction of an access road, several new veins that were yet to be identified have been discovered. The geology report reports on 10 veins that have been sampled and now the infrastructure to access the veins with mining equipment is available.
The majority of the production work to date has been carried out from ore extracted along one vein, which consists of development of a tunnel that enters the landscape at 90 degrees. The next step is to build galleries above the existing tunnel. Then it is expected that the joint venture partner shall dig a shaft about 40 meters underground with more galleries built vertically along the vein. Mining engineers familiar with the area believe that the grade of gold per ton at these levels could increase 25-50% than what is currently being extracted.
Inca Mining believes that if the gold grade per ton increases as a result of the exploration and development advances described above, income from the Company’s investment has the potential to very quickly amount to a much higher level than what was initially predicted.
This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it.
Accordingly, such forward looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.