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 30, 1998
Commission File Number: 0-10104
LA TEKO RESOURCES LTD.
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(Exact Name of Registrant as Specified in its Charter)
BRITISH COLUMBIA 87-0483319
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(State or other jurisdiction of (IRS Employer Identification
incorporation or organization) No.)
625 HOWE STREET, SUITE 500
VANCOUVER, B.C. V6C 2T6
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(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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La Teko Resources Ltd. announced on March 30, 1998 that it has received notice
from Silverado Gold Mines Ltd. ("Silverado") that Silverado wishes to terminate
its option to purchase La Teko's Ryan Lode Property, Fairbanks Mining District,
Alaska, effective immediately.
The Ryan Lode Property contains previously announced proven and probable
reserves of 14.5 million tons grading 0.056 oz. Au per ton with a strip ratio of
3.8 tons of waste per ton of ore, within which is as higher grade core of 4.6
million tons grading .09 oz. Au per ton with a strip ratio of 7.1 tons of waste
per ton of ore. During the fall of 1997, Silverado completed a program of 8,855
feet of drilling in 38 drill holes within the area of the known reserve.
According to Silverado, this work confirmed the continuity of gold
mineralization above .1 oz Au per ton, supporting the concept of a small
tonnage, high-grade operation.
La Teko will now examine other options regarding the development of the Ryan
Lode Property, either through ongoing development of the property by La Teko or
through sale or joint venture to a third party.
In other news, La Teko has closed its option to acquire a 100% interest in the
Discovery Gulch property in the Circle Mining District, 100 miles northeast of
Fairbanks, Alaska. In order to earn this interest, La Teko must pay the vendors
$10,000 in 1998 and $35,000 annually thereafter. Work requirements are $35,000
in 1998, $100,000 in 1998, and increase in $50,000 increments annually
thereafter. The option can be exercised upon completion of a feasibility study
and payment of $300,000. The vendors retain a 2% NSR.
In 1997, work by La Teko identified a gold-in-soil geochemical anomaly on the
Discovery Gulch property, which appears to indicate a mineralized bedrock
source. In an area 1,000 feet long and up to 500 feet wide, 44 of the 78 soil
samples returned better than 100 parts per billion gold and elevated arsenic
values. Plans for the 1998 field season include additional geochemical sampling
and trenching, followed by a drilling program, if warranted.
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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 6, 1998 By /s/ Gerald G. Carlson, President
