LAKE CITY, Colo., Oct. 1, 2014 /PRNewswire/ -- LKA Gold Incorporated (OTCQB:LKAI) reports that it recently engaged Maptek™ of Denver Colorado to conduct a detailed, 3-D map/model of the Company's Golden Wonder mine using its proprietary laser scanning technology, I-Site. Once completed, a high-resolution view will emerge showing the previously extracted vein structures within the mine and their relationship to the surface and previous production zone…an ore shoot which produced more than 135,000 ounces of gold at an average ore grade of 16 ounces (454 grams) gold per ton.
According to LKA President, Kye Abraham, "This is a huge step forward in our exploration program. Maptek's I-Site technology will give us our first detailed view of the high-grade structures we've been pursuing and how they relate to each other and the previous production zone. It will also help us locate close-in targets and potentially provide us with a road map to the next ore shoot."
On the date of this release, Maptek engineers have completed the initial underground survey and expect to integrate the results, with surface mapping and intuitive software for delivery to LKA in the next 30 days.
Maptek™ is a leading provider of innovative software, hardware and services for the mining industry. Founded over 30 years ago, Maptek develops products, which are used at more than 1700 sites in 65 countries. Products cover the whole mining cycle from exploration to reclamation.
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 shoot 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 shoots may exist on its mining claims. Upon resuming exploratory operations in the first quarter of 2009, LKA has extracted and/or shipped (sold) thirty bulk samples of crushed vein material containing over 4,200 ounces of gold with a net value, after processing, of over $4.6 million. 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 and there can be no guarantee that the Company will be successful in this regard.
Safe Harbor Statement
LKA's plans to resume commercial gold production at its Golden Wonder mine 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," "potential," "possible," "approximate," "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