Kinross Resumes Drilling at LKA's Golden Wonder Mine
GIG HARBOR, Wash., June 2, 2017 /PRNewswire/ -- LKA Gold Incorporated (OTCQB: LKAI) reports that Kinross drilling contractors have mobilized and resumed drilling at LKA's Golden Wonder mine. The drilling program, which was initiated in late 2016 but suspended due to severe weather conditions, is designed to test several areas (targets) identified by Kinross geologists during a detailed geochemistry evaluation of the surface area adjacent to, and well beyond, the original Golden Wonder discovery. See maps of Kinross drill targets at: http://lkagold.com/golden-wonder-mine
Each of the drill targets possess surface geochemistry remarkably similar to the original high-grade ore shoot that, during LKA's ownership, yielded over 141,000 ounces from an area measuring less than 10,000 square feet. Ore grades from commercial production (2000-2006) were 16.01 oz gold per ton. "Life of Mine" grades, (including exploratory mining) are 11.63 oz. (362 grams) gold per ton. Detailed Golden Wonder production records can be found on LKA's website at: http://lkagold.com/golden-wonder-mine
In a brief summary of the Golden Wonder mine's potential prepared for LKA management, geologist Rauno Perttu comments "….Telluride systems, such as the Golden Wonder, can be up to multimillion ounce in ultimate size. Additionally, the Golden Wonder Mine is in the Colorado Mineral Belt. The Colorado Mineral Belt hosts numerous large ore bodies. One of the largest, the Cripple Creek District, is a telluride deposit that has produced approximately 23 million ounces, and has multi-million ounce reserves left." To understand the context of Mr. Perttu's comments, and similar comments by other experts concerning the Golden Wonder's potential, interested parties are encouraged to see the Presentations & Reports section of the LKA website at: http://lkagold.com/presentation-reports
Details of the LKA Gold-Kinross Gold USA Exploration and Option Agreement can be found at: http://lkagold.com/news/lka-gold-and-kinross-gold-u-s-a-sign-exploration-option-agreement
Safe Harbor Statement
LKA's plans to resume Golden Wonder production are subject to a number of conditions including, but not limited to, favorable geology, successful exploration efforts, favorable financing terms/availability, permits, government regulation, gold prices, market conditions, etc. Mining and related activities are inherently high-risk endeavors and there can be no assurance that LKA will be successful. Forward-looking statements in this release are made pursuant to the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995 and the Bespeaks Caution Doctrine. Investors are cautioned that the Company continues to generate substantial losses and additional funding and exploration work is required. A commercially viable ore reserve has yet to be established.
Company Contact
LKA Gold Inc.
Kye Abraham, President
info@lkagold.com
http://lkagold.com
Investor Contact
Riverview Capital Enterprises
Jonathan Barkman, President
(929) 266-6140
Jonathan@riverviewcapital.biz
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SOURCE LKA Gold Inc.
