- Trek Metals (TKM) has entered a trading halt to finalise an upcoming capital raising
- The company will remain in the halt until January 27 or when an announcement is made, whichever occurs first
- Just yesterday, Trek revealed it encouraging results from initial exploration undertaken at the Tambourah Gold Project in Western Australia
- The aim of this work was to relocate previous workings and areas of anomalous gold geochemistry
- Up to 3.9g/t gold was intersected and Trek is now planning follow-up exploration which is on schedule to begin at some point this quarter
- Shares in Trek last traded at 8 cents on January 21
Trek Metals (TKM) has entered a trading halt to finalise an upcoming capital raising.
The company will remain in the halt until January 27 or when an announcement is made, whichever occurs first.
Trek is yet to disclose how much it is intending to raise or what the funds will go towards once they’re received.
Just yesterday, Trek revealed encouraging results from initial exploration undertaken at the Tambourah Gold Project in Western Australia.
The aim of this work was to relocate previous workings and areas of anomalous gold geochemistry.
Gold grades from this program ranged from 0.02g/t gold to 3.9g/t gold.
“We are very encouraged by the results of our initial reconnaissance fieldwork at the Tambourah Project, which provide strong evidence for the presence of extensive gold mineralisation,” Executive Director John Young said at the time.
“In general, there seems to be a strong correlation between the northwest trending strike-slip faults and gold mineralisation associated with shearing, silica-chlorite-pyrite alteration as well as extensive quartz-pyrite veining,” he added.
Trek is now planning follow-up exploration work which is on schedule to begin in at some point during this quarter.
Shares in Trek last traded at 8 cents on January 21.