La Teko,
At least Kinross let some partners publish some results,
I wish the same will go for MIQ.
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NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: LA TEKO RESOURCES LTD.
TSE, VSE SYMBOL: LAO
NASDAQ SYMBOL: LAORF
OCTOBER 29, 1998
La Teko Resources Ltd. - True North Bulk Sample
Metallurgical Results
VANCOUVER, B.C.--La Teko Resources Ltd. announces that Newmont
Exploration Limited has reported that "gold extractions were
exceptionally good" on metallurgical tests from the True North
Joint Venture, located 18 miles northeast of Fairbanks, Alaska, in
which Newmont is earning a 65% interest.
SUMMARY
Metallurgical testing was completed on bulk surface samples and
large diameter core samples collected last fall, as part of this
year's US$3.6 million project budget. Samples were collected from
two areas, the Hindenburg and Shepard. The gold recovery from
the Hindenburg sample was approximately 95% and from the Shepard
84% to 90%. The Newmont report concludes: "Overall, the test
work results have demonstrated that both the Hindenburg and
Shepard material leach very readily. High gold recoveries can be
anticipated from non-sulfide coarse material." Despite these
positive metallurgical results, Newmont's development efforts on
the True North deposit have been put on indefinite hold and, as a
result, the planned pre-feasibility study will not proceed
further at this time.
As announced Oct. 8, 1998, La Teko and Kinross Gold Corporation
have agreed to enter into a business combination whereby
shareholders of La Teko are to receive one Kinross share for each
2.65 La Teko shares held. Both the La Teko and Kinross Boards of
Directors have approved the transaction. The documentation and
procedures necessary to receive regulatory and La Teko shareholder
approval are underway, as well as the preparation of the
definitive agreement.
METALLURGICAL RESULTS
The 50 tons of surface bulk sample material, collected from two
locations in the Hindenburg and the Shepard zones within the True
North deposit, were analyzed at McClelland Laboratories in Reno,
Nevada. Tests included 8-inch columns on minus 1.5-inch material
and 2-foot columns on minus 4-inch material. The Hindenburg
sample, with a grade of .09 oz/ton gold, yielded approximately 95%
recovery, with cyanide consumption ranging from .28 to .48 lb.
NaCN/ton. The Shepard sample, with a grade of .12 oz./ton gold,
yielded gold extractions in the range of 84% to 90%, with cyanide
consumption of .51 to .67 lb. NaCN/ton. There appeared to be no
gold recovery variation with particle size for either sample.
Testing work on large diameter core samples was carried out by
Newmont at its own metallurgical facility. Testing was done with
minus 1.5-inch and minus .75-inch material. The oxidized
Hindenburg minus 1.5-inch samples yielded extractions between 91%
and 93%. The Shepard core sample recoveries ranged from 86% to
94%. Both results correlate well with the McClelland samples.
One Hindenburg sample with minor sulfide content yielded an 82%
gold recovery while other deeper, more sulfide rich samples from
both Hindenburg and Shepard gave recoveries ranging from 61% to
68%.
EXPLORATION
Exploration activities during the summer have consisted mainly of
auger soil sampling over the 7,400 acres newly acquired by the
True North Joint Venture earlier in 1998. These are contiguous
lands both to the northeast and southwest of the True North
deposit. Results of this work have now been received. Of
particular interest is a 400-foot by 1,000-foot
gold-arsenic-antimony anomaly southwest of the True North trend.
The source of the anomaly appears to be within favorable
Chatanika Terrane rocks that host the True North deposit.
On behalf of the Board of Directors
Gerald G. Carlson, Ph.D., P.Eng.
President & CEO |
