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Gig Harbor, WA (Profitable.com) LKA Gold Incorporated (OTCQB: LKAI) announced today that it has engaged C. K. Cooper & Company (MEMBER: FINRA/SiPC) for investment banking services and to develop finance options for expanding the Company’s current exploration program at its Golden Wonder mine located near Lake City, CO.
According to LKA Chairman, Kye Abraham , ” C. K. Cooper has been a valued adviser to LKA over the past three years. Their experience in capital formation, market strategies, and the Company’s recent restructuring have proven invaluable. We’re proud to consider them a part of our team.”
About LKA’s Golden Wonder Mine
From 1998 – 2007 LKA’s Golden Wonder mine was one of only two active gold producers in Colorado. During that period, the Golden Wonder produced over 133,701 ounces of gold with an average ore grade of 16.01 ozs. (454 grams) gold per ton making it the richest gold producer in North America.
Golden Wonder Exploration Program
Vein material is extracted as exploration 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 133,700 ounces of gold from a single ore chute measuring less than 10,000 square feet. Upon resuming exploratory operations in the first quarter of 2009, LKA has shipped twenty bulk ore samples containing more than 3,300 ounces of gold with an average ore grade of 1.44 oz. gold. Ore sales continue to fund, and exceed, the cost of LKA’s exploration program. Detailed financial results were reported on Form 10-Q filed with the SEC earlier this month and posted on the Company’s website at: http://lkagold.com. Investors are cautioned that additional exploration is required and 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.