With this year’s exploration program now complete, La Teko Resources (NASDAQ) has arrived at a resource estimate for its True North property near Fairbanks, Alaska.
The proven and probable resource stands at about 6.7 million tons grading 0.07 oz. gold per ton. This is contained in two deposits, including about 5.6 million tons in the Hindenburg and the balance in the Shepard deposit. The south end of the Hindenburg deposit is about 2,500 ft. northeast of the Shepard zone, and geochemical sampling indicates the two may be connected. In addition to drilling on the Hindenburg and Shepard zones, La Teko completed a “wildcat” drill hole 1,500 ft. from the nearest hole on the property. The hole returned a 160-ft. intersection grading 0.02 oz. from 150 to 310 ft., with individual values grading up to 0.15 oz.
The discovery is in an altered porphyritic dyke that has been traced on surface for more than 2,500 ft. and is associated with a gold-in-soil geochemical anomaly.
Nine additional gold-in-soil geochemical anomalies will be tested next year, along with further drilling on the Hindenburg and Shepard zones. La Teko is continuing discussions and negotiations with several major mining companies with regard to both the True North and Ryan Lode projects.
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