Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : MIRANDOR-MIQ ON MONTREAL -- Ignore unavailable to you. Want to Upgrade?

To: Ron Jones who wrote (2236)	10/29/1998 12:38:00 PM
From: Mike Paulin	Read Replies (1) \| Respond to of 2635

La Teko, At least Kinross let some partners publish some results, I wish the same will go for MIQ. =================================================== 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