LKA Selects Respected Industry Expert to Direct Golden Wonder Mine Exploration Mr. Rauno Perttu accepts position as Project Geologist.
GIG HARBOR, Wash., July 3, 2012 /PRNewswire/ -- LKA International, Inc. (OTCQB:LKAI) is please to report a key addition to its exploration team. Mr. Rauno Perttu has recently accepted the position of Project Geologist and will direct the Company's exploration program at the Golden Wonder mine located near Lake City, Colorado. Mr. Perttu's efforts will be focused on re-establishing a commercial ore body at the Golden Wonder and compiling exploration data in a form and manner consistent with industry-standard, 43-101 requirements.
Mr. Perttu is a registered, professional engineer-geologist with over 40 years experience in all phases of metals and minerals exploration, evaluation and project development. His career included key positions with Pacific Power & Light, Gulf Minerals, and Kennecott where he was Coal Manager and Director of Business Development. He has directed and evaluated numerous projects in North and South America involving gold, molybdenum, coal, uranium and industrial minerals has vast industry experience.
Mr. Perttu joins an impressive team of experts and advisors guiding LKA's exploration efforts at its Golden Wonder mine. http://lkaintl.com/Management-Team.html
About LKA and the Golden Wonder Mine
From 1998 through the second quarter of 2006, the Golden Wonder mine produced over 133,701 ounces (82% of which came during the period of 2002-2006) from ore with an average grade of 16.01 ozs. (454 grams) gold per ton. Upon resuming operations (exploration) in the first quarter of 2009, LKA has shipped fourteen bulk ore samples containing more than 2,225 ounces of gold. The ore grades of these shipments have averaged 1.56 ounces (44.22 grams) gold per ton. Historically, the high-grade nature of Golden Wonder ore has allowed for "direct shipment" with no milling or concentrating required. To date, these exploratory ore shipments have funded LKA's entire exploration program. Investors are cautioned that 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 International, Inc.'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 International, Inc. 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.
Jonathan Barkman, President
SOURCE LKA International, Inc.