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): MARCH 26, 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.)
SUITE 500, 625 HOWE STREET
VANCOUVER, B.C. V6C 2T6
(Address of Principal (Zip Code)
Executive 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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On March 26, 1997, La Teko Resources Ltd. (the "Company") announced assay
results from a drill hole completed late last year on its True North property.
Drill hole #568 encountered a high grade extension into the Zeppelin zone. The
hole intersected a gold mineralized zone of 75 feet, believed to very close to
true thickness with an average grade of 0.377 oz. Au per ton. Management of the
Company is excited by this result and believes it is one of the highest grade
holes yet drilled on the property, opening up a very promising extension of the
Zeppelin to the southwest. This hole along with others announced in January of
this year (see table below), is both higher grade and thicker than most of the
previous intercepts on the property. It demonstrates the potential of these new
zones to significantly increase reserves.
INTERVAL (FEET) GRADE
------------------ WIDTH OZ.
HOLE ZONE FROM TO (FEET) AU/TON
- -------- -------------- -------- ------ ------ --------
522(2) Central (deep) 245 ....... 355 110 0.242
539(2) New Zone ...... 40 ....... 95 55 0.123
.............. 140 ....... 160 20 0.121
541(2) New Zone ...... 165 ....... 230 65 0.178
568(1) Zeppelin ...... 70 ....... 145 75 0.377
incl. .............. 70 ....... 100 30 0.611
incl. .............. 100 ....... 145 45 0.221
(1) New results
(2) Previously announced
A number of additional core holes from the 1996 program are in the process of
being split for assay.
Newmont Exploration, Ltd. ("Newmont") has informed the Company that it has
commenced its 1997 drilling program on the True North joint venture. The first
hole, number 571, is located to test the high grade Zeppelin extension
identified in hole 568. A second drill will be added within a week, as part of
the previously announced $21. million program which will extend into June 1997.
The True North property is located 16 miles northeast of Fairbanks, Alaska, just
off the paved Steese Highway, and seven miles northwest of the Fort Know Mine of
Cyprus AMAX Minerals. The Company has received $6 million in cash payments from
Newmont which is earning a 65% interest in the property. Newmont must now
complete a feasibility study which recommends placing the property into
production and spend the first $21 million in exploration and development costs.
La Teko Resources Ltd. is a gold exploration company active in Alaska. The
Company holds two projects in the advanced exploration to development stage,
True North and Ryan Lode, and several early stage exploration projects.
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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: April 2, 1997 By /s/ Gerald G. Carlson, President
