President's Email Archive

A Bit Puzzled But Very Optimistic After Kinross’s Withdrawal

By January 29, 2018 No Comments

We’re still a bit puzzled as to why many of the best targets that were identified by the surface evaluation program were left undrilled by Kinross. A couple of the holes encountered the exact same characteristics that we find in the bonanza-grade zone of the first ore chute….breccia, gold & silver tellurides and more. With only five holes drilled over a wide area we’ve barely gotten a peek at this property’s potential.

As we’ve discussed in recent press releases, through extensive surface work on LKA mining claims, Kinross geologists identified multiple, potential ore zones…actually six of them..not just the four sites slated for drilling this year and early next. Another gold discovery at any one of these locations would confirm our belief that the same geologic conditions that formed our first bonanza-grade ore shoot spawned several others…the tendency for these types of deposits. As I’ve discussed in previous updates, multiple ore bodies possessing anywhere near the size and grades of our first discovery would be a literal bonanza for LKA shareholders. Of course it’s going to take a considerable number of drill holes before a final assessment is made but we’ll start getting glimpses almost immediately.

For right now I’m focused on, and you should be too, the close proximity of these potential new ore zones to our existing infrastructure and the fact that they are all situated right on trend…just where we would expect to find them. The selection of the first four drill sites was influenced by permitting considerations (ease and speed) and their close-in locations….very near existing workings. You’ll get a better “visual” on all of this by clicking on the images below.

To read the Mr. Perttu’s report just click on the this link: