GIG HARBOR, Wash., March 14, 2014 /PRNewswire/ -- LKA Gold Incorporated (OTCQB:LKAI) announced that Thom Calandra, a widely recognized researcher and specialist in undervalued resource companies, recently revealed to his subscribers in the The Calandra Report that he would begin buying stock in LKA Gold.
According to Mr. Calandra, "I am going to purchase this one as soon as our TCR report goes out this minute…"
Mr. Calandra went on to point out that the initial exploration on LKA's Golden Wonder mine was funded through a tax-shelter limited partnership that included flamboyant gold investors such as Mark Skousen, the late James U. Blanchard III, and Doug Casey…..and they're still in it. Calandra said of LKA's high-grade, Colorado gold producer, "….looks like it might have another elusive ore shoot within its reach." Calandra cautions that, at present, "there is no established resource (commercial reserve) at LKA's Golden Wonder mine but the grades of exploratory ore that the mine is shipping are near or surpass 2 ounces per ton in many cases. During the good old days of 2005 and prior, and even on the occasional charged stringer, that ounces-per-ton measure has been in the teens. We'll see."
Thom Calandra is the editor of The Calandra Report, (www.thomcalandra.com) is a paid subscription investment newsletter that specializes in on-site visits and reporting on deeply undervalued resource companies. Mr. Calandra is widely regarded as a researcher and is a frequent speaker at investment conferences around the world. Mr. Calandra is also a principal at Torrey Hills Capital (www.torreyhillscapital.com). Calandra previously co-founded, and was founding editor of, CBS MarketWatch, one of the world's largest financial web sites. He also co-founded Ticker Trax for Stockhouse.com (www.stockhouse.com) Canada's #1 financial portal and North America's largest natural resource site for small cap investor communities.
The Calandra Report subscription information is available at: https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=UNBMNH3LW8ZLE for Paypal information.
Mr. Calandra is not an affiliate of LKA Gold and was not paid for any reports or comments concerning LKA.
About LKA's exploration program at its Golden Wonder Mine
Vein material is extracted as crews follow the volcanic vent system along the wall of the Uncompahgre Caldera. This method of exploratory mining and underground drilling proved successful in locating the first commercial ore body which yielded more than 133,000 ounces of gold from a single ore chute measuring less than 10,000 cubic feet. From 1998, through the second quarter of 2006, the average grade of Golden Wonder ore was 16.01 ozs. (454 grams) gold per ton. LKA believes that additional such ore chutes may exist on its mining claims. Upon resuming exploratory operations in the first quarter of 2009, LKA has shipped twenty-seven bulk ore samples containing more than 4,000 ounces of gold with a net value, after processing, of over $4.2 million. The Company is continuing to evaluate financing options to expand/accelerate this program. 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.
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. This press release contains certain forward-looking statements. Statements contained in this press release that are not purely historical are considered forward-looking. When used in this press release, the words "plan", "target", "anticipate," "believe," "estimate," "intend" and "expect" and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements include, without limitation, the statements regarding LKA Gold's future plans for exploration and/or production, future expenses and costs, future liquidity and capital resources, and estimates of ore, ore grades and mineralized material. All forward-looking statements in this press release are based upon information available to LKA Gold on the date of this press release and the Company assumes no obligation to update any such statements. Forward-looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. The Company's actual results could differ materially from those discussed in this press release. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in the Company's reports filed with the Securities and Exchange Commission.
Riverview Capital Enterprises
Jonathan Barkman, President
SOURCE LKA Gold Incorporated