The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Trek Metals (TKM) has entered three separate agreements to expand its portfolio in the Pilbara region of Western Australia
  • The company has agreed to purchase the E45/5484 licence on the Tambourah Project, the licence includes a number of gold and base metal targets
  • The licence package also comes with an option to purchase E45/4960, as well as the possibility of a third licence, ELA45/5722, however, this licence is currently in a ballot with two other companies
  • The Tambourah tenement package is located near the Trek’s existing Pincunah Project
  • On the market today, Trek Metals is down 2.86 per cent and trading at 6.8 cents each

Trek Metals (TKM) has entered three separate purchase agreements to expand its portfolio in the Pilbara region of Western Australia.

The purchases cover the large Tambourah Project tenement.

The Tambourah tenement package is located near the Trek’s existing Pincunah Project and covers 290 square kilometres in the Western Shaw Greenstone Belt.

The agreements

Trek has agreed to purchase the 100 per cent interest in E45/5484, which includes numerous gold and base metal targets. An initial program of reconnaissance rock chip sampling program and field investigation has been completed in the area, with results expected soon.

The licence package also comes with an option to purchase E45/4960, as well as the possibility of a third licence, ELA45/5722, however, this licence is currently in a ballot with two other companies.

Notably, ELA45/5722 surrounds eight prospecting licences, held by other parties, and is located in a highly prospective greenstone terrance. It is expected to be highly prospective for gold and base metal mineralisation.

Additionally, Trek has also submitted an additional application for a fourth licence, E45/5839, which is located north of ELA45/5722.

Tambourah Project

The Tambourah Project is considered to be highly prospective for gold deposits and has at lease 13 known gold occurrences and old mining workings located on the project.

The area is renowned historically for a large number of small-scale mines that targeted narrow, high-grade, north-trending quartz veins.

“This represents an exciting low-cost, low-risk opportunity for Trek Metals to further enhance our pipeline of gold exploration targets in the Pilbara and at the same time review a highly prospective iron ore opportunity at a time of renewed interest in the iron ore sector,” Executive Director John Young said.

“We are particularly interested to see the results from the initial sampling conducted last month and to get started at the Western Shaw Project, which is prospective for both gold and iron ore mineralisation,” he added.

On the market today, Trek Metals is down 2.86 per cent and trading at 6.8 cents each at 12:57 pm AEDT.

TKM by the numbers
More From The Market Online

Sierra Rutile rejects takeover bid from PRM Services again

Sierra Rutile has urged its shareholders for a second time to reject a takeover offer from…

Terra Uranium picks up prime 15M-pound deposit in Canada

Terra Uranium has bolstered its Canadian portfolio by acquiring the Amer Lake deposit in Nunavut, which…
The Market Online Video

Lithium Universe locks in shipping port location for lithium spodumene imports

Lithium Universe (ASX:LU7) has locked in a maritime port through which it can receive shipments of…

AIC raises ore reserve estimates by 86% copper and gold at QLD’s Jericho

AIC Mines has updated its ore reserve estimate at the Jericho deposit in north Queensland showing…