SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT UNDER TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported): September 17, 1997
Commission File Number: 0-10104
LA TEKO RESOURCES LTD.
(Exact Name of Registrant as Specified in its Charter)
BRITISH COLUMBIA 87-0483319
(State or other jurisdiction of (IRS Employer
incorporation or organization) Identification No.)
625 HOWE STREET, SUITE 500
VANCOUVER, B.C. V6C 2T6
(Address of Principal Executive (Zip Code)
Offices)
Registrant's Telephone Number, including Area Code:
(604) 688-0833
NOT APPLICABLE
(Former name, former address, and formal fiscal year, if changed since
last report)
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ITEM 5: OTHER EVENTS
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La Teko Resources Ltd. (the "Company") announced on September 17, 1997, that
Newmont Exploration Limited ("Newmont"), joint venture operator, has provided
initial results from the Phase II exploration program on the True North Joint
Venture project, Fairbanks Mining District, Alaska. A promising new gold zone,
named the Merlyn, has been intersected in three drill holes. Hole TN-648
intersected 30 feet grading 0.314 oz. Au/ton of sulfide mineralization at 180
feet depth and hole TN-661 intersected 25 feet grading 0.118 oz. Au/ton of
probable oxide mineralization at 65 feet depth. Assays are awaited for the
third intercept. The Merlyn Zone is located west of the Shepard deposit.
Newmont is continuing to test other new targets developed through geological,
structural, and alteration studies based on patterns identified from the known
gold zones at True North. This work is part of Newmont's expanded $3.7 million
program for the True North joint venture in 1997.
In a new aspect of the program, Newmont has commenced initial engineering
studies. A 2,000 foot, larger diameter (PQ - 3 3/8 inch) core drilling program
is in progress in the Hindenburg and Shepard deposits to extract mineralized
material for metallurgical testing. Surface bulk sampling from the Hindenburg
and Shepard deposits for large diameter column leach testing is under
consideration. Preliminary studies for the placement of leach pads and waste
dumps, which will include drilling to examine soil and bedrock conditions, are
also underway.
Newmont has also added two additional parcels of land which will become part of
the True North joint venture. A 263 acre Exclusive Minerals Exploration Permit
with the Alaska Mental Health Trust Authority was assigned to Newmont from
Placer Dome U.S., Inc. One of four holes drilled last year on this block
intersected 62 feet grading 0.054 oz. Au/ton, starting from bedrock surface.
The second block consists of 38 State of Alaska mining claims covering
approximately 1,520 acres acquired from BSTC Corporation. This brings the total
area of the True North joint venture lands to approximately 10,794 acres, or
16.9 square miles, nearly four times the size of the property when it was
originally optioned to Newmont in 1995.
Based on drilling to the end of 1996, Newmont calculated a mineral inventory of
18,208,000 tons at an average grade of 0.072 oz. Au/ton, for a contained gold
resource of 1,311,899 ounces of gold (see June 5, 1997 news release). The
Company believes the 1997 Phase I program has expanded this resource
significantly. Project drilling statistics to date are as follows:
Pre-1977 Jan-Aug 1997 Project Totals
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No. Footage No. Footage No. Footage
--- ------- --- ------- --- -------
RC Drill Holes 444 116,836 93 32,650 537 149,486
Core Drill Holes 109 39,888 - - 109 39,888
--- ------- --- ------- --- -------
Total Drill
Holes 553 156,724 93 32,650 656 189,374
=== ======= === ======= === =======
[Map attached indicating location of existing and new acreage.]
La Teko Resources Ltd. is a gold exploration company concentrating its efforts
in the prolific Fairbanks Mining District of Alaska. The Company has no debt
and $1.0 million in working capital.
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SIGNATURES
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Pursuant to the requirements of section 13 or 15(d) of the Securities
Exchange of 1934, as amended, the Registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
LA TEKO RESOURCES LTD.
Dated: September 18, 1997 By /s/Gerald G. Carlson, President
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