GIG HARBOR, Wash.--(BUSINESS WIRE)--LKA International, Inc. (OTCQB:LKAI) announced today that it has retained Mr. Francois Viens as its technical advisor for its Golden Wonder exploration program. Mr. Viens is the former Vice President of Business Development and Exploration for Cambior, Inc. Previously he was Vice President Exploration for Ariane Gold Corp. and before that Vice President Exploration for Hope Bay Gold Corp., later acquired by a division of Newmont Mining Corporation. Currently Mr. Viens is the President and Chief Executive Officer of Bear Lake Gold Ltd (TSX:BLG).
Mr. Viens was responsible for developing the Golden Wonder exploration program proposed by Cambior as part of its joint venture discussions with LKA in 2006. Shortly thereafter, Cambior was acquired by IAMGOLD Corporation (NYSE:IAG) for $1.2 billion and the LKA-Cambior joint venture was never finalized. Mr. Viens is a Geological Engineer with over 33 years experience in the exploration, evaluation and development of multi-million ounce gold deposits in Canada and the Guiana Shield (Guyana, Suriname and French Guiana). His experience includes open pit mining as well as underground, narrow veins selective mining similar to the Golden Wonder gold deposit.
About the Golden Wonder Mine
From 1998 through the second quarter of 2006, the 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. gold per ton. Upon resuming operations (exploration) in the first quarter of 2009, LKA has shipped seven bulk ore samples (lower grade material) containing more than 1,200 ounces of gold. Historically, the high-grade nature of Golden Wonder ore has allowed for “direct shipment” with no milling or concentrating required. Investors are cautioned that a commercially viable ore reserve has yet to be established and there can be no guarantee that one will be.
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.