LKA Announces Exploration Progress From Golden Wonder North Raise.
GIG HARBOR, Wash. -- LKA International, Inc. (OTCBB:LKAI) reports that its exploration efforts in the North Raise of its Golden Wonder mine continue to yield encouraging results. Recent composite assays of vein material ran 30 ounces (850 grams), 32.7 ounces (927 grams) and 15.7 ounces (445 grams) gold per ton. Vein widths, encountered thus far, are averaging eighteen to twenty-four inches.
As previously announced, extensive vein sampling from this area over the past eighteen months has yielded assays as high as 76.8 ounces (2,177 grams) gold per ton and as low as .046 ounces (1.3 grams) per ton. The average of all vein assays from this area to date is 9.3 ounces (264 grams) per ton. Underground construction required to commence exploratory mining was completed earlier this month and ore is currently being stockpiled for crushing and shipment later in the quarter. It is still too early to determine this area's commercial potential and reserves have yet to be established.
Exploratory mining continues between the mine's 6 & 7 Levels. Additional shipments of ore from this area are expected before the end of the current quarter.
About the Golden Wonder Mine
From 1998 through the second quarter of 2006, the mine produced over 133,701 ounces (82% of which came during the period of 2002-2006) from ore with an average grade of 14.73 ounces gold per ton. Upon resuming operations in 2009, LKA's exploratory mining program has resulted in five ore shipments containing over 832 ounces of gold. Until additional "enriched zones" are encountered LKA expects ore grades to remain substantially below the mine's historic averages.
Safe Harbor Statement
LKA's plans to resume/expand 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, 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. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, but not limited to, market conditions and price for the company's products, reliance on key personnel, availability of labor, equipment, consulting services, financing and technological changes, as well as any and all 'other risks' associated with business.
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|Date:||Nov 10, 2010|
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