LKA Announces Plans to Accelerate/Expand Golden Wonder Explorationadmin
LKA International, Inc. announced today that it expects to significantly expand the Company’s exploratory mining efforts at its Golden Wonder mine. To date, exploration has been conducted with a single crew in the two key areas of interest within the mine known as the “LKA Winze” and the “North Raise.” By the end of the second quarter 2011, the Company expects to deploy two additional crews to accelerate this effort and to advance exploration in the upper levels of the mine.
The LKA Winze area has been the primary focus of the Company’s exploration efforts for the past fourteen months and has already yielded over 1,000 ounces of gold. Mine operators have been sinking on the gold bearing structure in this 100’+ vertical area located between the mine’s 6th & 7th levels. The objective is to confirm an extension of the extraordinarily rich production zone encountered during commercial mining operations conducted between 1998 and 2002. During that period this zone produced over 24,644 ounces of gold and average ore grades of 12.96 ounces (367 grams) gold per ton. Currently, our exploration crew is at a depth of approximately 65’ and beginning to detect significant changes within the character of the vein system and increasing gold values.
The North Raise is a newer and much less developed area but already showing promise. Sampling of vein material has yielded many assays in excess of 20 ounces gold per ton and 11 tons of vein material has been crushed and prepared for shipment. The average grade of this ore exceeds 3.8 ounces gold per ton.