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- 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.
