-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, DAO99dxCkaLDIE6J6wLZ+Dzy75jESvK3aQVXcRRS2E8fqN0DxIaB+2aN0+SO6bO7 p9XNy/hgC/UXVm/pKx0rhw== 0000914233-98-000019.txt : 19980327 0000914233-98-000019.hdr.sgml : 19980327 ACCESSION NUMBER: 0000914233-98-000019 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19980210 ITEM INFORMATION: FILED AS OF DATE: 19980326 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: LA TEKO RESOURCES LTD CENTRAL INDEX KEY: 0000357281 STANDARD INDUSTRIAL CLASSIFICATION: GOLD & SILVER ORES [1040] IRS NUMBER: 870483319 STATE OF INCORPORATION: A1 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-10104 FILM NUMBER: 98574658 BUSINESS ADDRESS: STREET 1: 625 HOWE ST STREET 2: STE 500 CITY: VANCOUVER, B.C. STATE: A1 ZIP: 84101 BUSINESS PHONE: 6046880833 MAIL ADDRESS: STREET 1: 180 EAST 2100 SOUTH STREET 2: STE 204 CITY: SALT LAKE CITY STATE: UT ZIP: 84115 8-K 1 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): February 10, 1998 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 Identification No.) incorporation or organization) 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) ITEM 5: OTHER EVENTS La Teko Resources Ltd. announced on February 10, 1998 that joint venture partner Newmont Exploration Limited has acquired an additional 4,200 acres of land from Placer Dome Inc. which will become a part of the True North Joint Venture. This acquisition brings the total True North property position to 14,300 acres. This new property is a significant addition to the joint venture, as it lies along strike from the main True North deposit to the northeast and southwest, covering favourable Chatanika Terrane rocks. A large proportion of this year's Phase I exploration program, particularly the power auger geochemical sampling program, will test this ground for new gold zones. Newmont is earning a 65% interest in the True North project by paying $6 million to La Teko, now fully paid, and by spending $21 million on exploration and development of the property, including a feasibility study. Estimated expenditures by Newmont to the end of 1997 are approximately $10.5 million. Terms of the new acquisition include an initial payment of $150,000. La Teko will contribute its 35% of the initial acquisition cost, or $52,500, and thereafter, all expenditures will be carried by Newmont until it is fully vested in the project. In other news, Kennecott Canada Exploration Inc. has provided an extension until February 27, 1998 when La Teko must confirm that it is proceeding with the option to acquire the Scheelite Dome property in central Yukon, whereupon the initial C$30,000 payment will be owing. The agreement, announced November 25, 1997, gives La Teko the right to earn a 100% interest in the project by making payments to the underlying landowner of C$135,000 and spending C$800,000 on exploration over four years. Kennecott has a 49% back-in right. The Scheelite Dome property hosts a giant, low grade gold mineralized system, reflected by a 4 km. by 2 km. gold in soil anomaly. The property has the potential, within this system, to contain a large, economic gold deposit. Should La Teko elect not to proceed with the option, La Teko will, subject to regulatory approval, issue 30,000 shares to Kennecott as a break-up fee. The Company has decided not to acquire the Mt. Distin gold project, Alaska, according to the agreement also announced on November 25, 1997. SIGNATURES 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: March 16, 1998 By/s/ Gerald G. Carlson, President -----END PRIVACY-ENHANCED MESSAGE-----