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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): MAY 8, 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 Offices) (Zip Code)
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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On May 8, 1997, La Teko Resources Ltd. (the "Company") reported iniital results
from the first phase 1997 drilling program on its True North property, Fairbanks
Mining District, Alaska,as reported by the project operator, Newmont Exploration
Limited ("Newmont"). Results are from the first 26 reverse circulation drill
holes of a $2.1 milion porgram schedule for completion in June 1997. The True
North property is accessible by road, 16 miles northeast of Fairbanks and seven
miles northwest of Cyprus Amax's Fort Knox mine.
Drilling of the Central Zone was designed to provide fill-in detail between
previously 400-foot fences. Drill hole 588 intersected 40 feet grading 0.119
oz. Au/Ton and 591 intersected 45 feet grading 0.182 oz. Au/Ton. Management of
the Company believes that these shallow, oxidized high grade intercepts are of
particular interest because they are significantly richer than adjacent, wider-
spaced holes within the Central Zone. The deeper intersection in hole 591 (135
feet grading 0.084 oz. Au/Ton) represents a strike extension from previous hole
522 (110 feet grading 0.242 oz. Au/Ton) which together appear to represent a
steeply dipping zone. The deep intercept in hole 590 represents a new, sulfide
mineralized horizon.
Drilling at Zeppelin was less successful and was hampered by poor drilling
conditions, which resulted in a number of holes not reaching target. Holes
drilled up-dip and down-dip from hole 568 (75 feet of 0.377 oz. Au/Ton)
intersected only low grade values, while a wide-spaced step-out hole to the
southwest failed to intersect the zone. Because of the spring thaw, the drills
have moved out of both areas.
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Newmont can earn a 65% interest in the True North property by paying $7 million
to La Teko, now fully paid, and spending $21 million on exploration and
development of the property, including a feasibility study. Expenditures by
Newmont to the end of 1996 were $6.1 million.
La Teko Resources Ltd. is a gold exploration company active in the Fairbanks
Mining District of Alaska. The Company holds two projects in the advanced
exploration to development, the True North and Ryan Lode, and several early
stage exploration projects.
TRUE NORTH DRILLING RESULTS
Thickne Grade
Hole No. From To (ft.) ss (oz. Zone
(ft.) (ft.) Au/ton)
574 180 220 40 0.059 Zeppelin
265 285 20 0.013
575 135 145 10 0.195 Zeppelin
160 180 20 0.196
576 95 100 5 0.046 Zeppelin
115 130 15 0.016
155 170 15 0.026
578 115 130 15 0.047 Hindenburg
150 175 25 0.015
190 200 10 0.048
225 230 5 0.089
265 280 15 0.097
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365 400 35 0.028
579 175 190 15 0.026 Zeppelin
580 40 90 50 0.024 Hindenburg
100 120 20 0.016
135 150 15 0.080
170 180 10 0.027
255 285 30 0.018
390 400 10 0.017
410 420 10 0.086
582 5 50 45 0.044 Hindenburg
85 95 10 0.090
105 150 45 0.089
584 160 170 10 0.059 Upper Central Zone
585 170 180 10 0.023 Upper Central Zone
586 150 205 55 0.076 Upper Central Zone
587 130 145 15 0.022 Hindenburg
588 0 10 10 0.048 Hindenburg
30 70 40 0.119
90 120 30 0.019
589 5 30 25 0.021 Upper Central Zone
130 145 15 0.082
340 370 30 0.071
590 45 65 20 0.030 Hindenburg
80 95 15 0.015
105 130 25 0.060
165 180 15 0.110
375 430 55 0.104
591 5 50 45 0.184 Central
185 320 135 0.082
375 435 60 0.030
592 85 95 10 0.056 Central Zone, multiple
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160 205 45 0.081
593 65 95 30 0.040 Central Zone
115 160 45 0.025
175 195 20 0.029
594 45 80 35 0.039 Zeppelin
180 195 15 0.092
595 110 120 10 0.029 Zeppelin
596 25 60 35 0.047 Hindenburg
571, 572, 573, 577, 581, and 583 had no significant values.
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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: May 12, 1997 By /s/ Gerald G. Carlson, President
end
