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- Trek Metals (TKM) has entered a trading halt for the purpose of an upcoming capital raise
- The company will remain in the halt until October 23 or when an announcement is made, whichever occurs first
- On October 30, Trek announced recent fieldwork at the Jimblebar and Pincunah projects has shown strong gold mineralisation potential
- Results peaked at 4g/t gold, 56.8g/t silver and 3.9 per cent copper
- Shares in Trek last traded for 10 cents on October 20
Trek Metals (TKM) has entered a trading halt for the purpose of an upcoming capital raise.
The company will remain in the halt until October 23 or when an announcement is made, whichever occurs first.
Trek is yet to announce how much it is raising and what the money will go towards.
On October 30, Trek announced that recent fieldwork at the Jimblebar and Pincunah projects has shown strong gold mineralisation potential.
At Jimblebar, extensive gold shafts and workings were identified over 300 metre long trend known as Stu’s Find.
Samples taken from Stu’s Find peaked at 4g/t gold, 30g/t silver, 25g/t molybdenum, 3.9 per cent copper, and 1136 parts per million (ppm) bismuth.
At the Pincunah Project, rock sampling at the Valley of Gossans and Carlindi prospects returned highly elevated gold grades.
Best results include 1.8g/t gold, 56.8g/t silver, 0.3 per cent lead, 0.2 per cent copper, and 0.1 per cent zinc.
Trek is now planning to undertake further exploration before a maiden drilling program begins in the next few months.
Shares in Trek last traded for 10 cents on October 20.
