May 2 2017
LKA Gold Incorporated reports that the first two holes drilled from surface by Kinross Gold USA in December 2016 encountered the same gold-bearing structure that hosted the bonanza-grade gold discovery at LKA's Golden Wonder mine above Lake City, Colorado.
Upon analyzing the drilling results with the Company's geology experts, LKA President, Kye Abraham, observes,"You can clearly see the same Golden Wonder host structure in both drill holes based on alteration and geochemistry. Both drill holes encountered the same elements that are present at the site of the initial discovery and intercepted the Golden Wonder host structure right on trend, almost 500' beyond our current workings. The geochemistry is consistent with the Kinross surface findings. We've got 1,000' of strike length and at least six big targets to test. If there's another ore shoot in here I think we'll find it."
Drilling results obtained from one of four permitted drill sites
The Kinross drilling program is designed to test up to six areas (targets) identified by Kinross geologists during a detailed geochemistry evaluation of the surface area adjacent to, and well beyond, the original Golden Wonder discovery. These targets possess geochemistry remarkably similar to the original high-grade ore shoot that, during LKA's ownership, yielded over 141,000 ounces. See drill targets and maps at: http://lkagold.com/golden-wonder-mine/
Ore grades from commercial production during that period were 16.01 oz gold per ton. "Life of Mine" grades, (including exploratory mining) are 11.63 oz. (362 grams) gold per ton. See Golden Wonder production and shipment records at:
http://lkagold.com/wp-content/uploads/2013/08/GW-Production-IP-3-17.pdf
The initial Kinross drilling results were obtained in December 2016 from the first two holes drilled from one of four Bureau of Land Management permitted drill sites. LKA expects drilling to continue in early summer 2017.