Trek Metals (ASX:TKM) is raising $1 million to accelerate exploration at its 100% owned Christmas Creek Gold and Manganese Project in the Kimberley region of Western Australia.
Queensland-based mining investor and businessman Andrew Reece has committed to make a cornerstone $500,000 investment as part of the Placement and will join the Trek board upon completion.
The proceeds of the placement will primarily be allocated to support an accelerated exploration push at its recently announced ‘high-grade’ outcropping manganese discovery at Christmas Creek.
This includes a new extensive round of field mapping and rock chip sampling which commenced last week, a ground-based gravity program and an airborne EM survey which is scheduled to begin in the coming days.
The data from these key geophysical surveys will help to refine drill targets ahead of a major new drilling program early next year.
Trek Chairman Tony Leibowitz says Reece, who has been a Trek shareholder for some time, has an “exceptional track record in building and monetising high-growth businesses”.
“His strategic insights, commercial acumen and extensive contact networks will bring an exciting new dimension to the company as we look to grow to the next level,” says Leibowitz.
“Andrew is excited by our recent high-grade manganese discovery and joins the company at a significant inflection point.”
Trek CEO Derek Marshall adds that the strong support for the capital raising reflects the significant interest in the new manganese discovery at Christmas Creek.
“The additional funding will enable us to fully evaluate the size and potential of this discovery, which has enormous ramifications for the future of the company,” the CEO says.
“The upcoming ground-based and airborne geophysical programs will allow us to define the size of the mineralised body and refine locations for drilling, which we plan to commence as early as the seasonal conditions permit next year.”
Trek has received firm commitments for the placement comprising some 17.543 million shares at an issue price of $0.057 per share. The issue price represents a 4.36% discount to the five-day volume weighted average price (VWAP) price of the company’s shares on 19 November 2025.
Write to Adam Orlando at Mining.com.au
Images: Trek
