Trek Metals (ASX:TKM) is gearing up for its 2024 exploration field season across its Western Australian gold projects, namely Christmas Creek and Pincunah.
Chief Executive Officer (CEO) Derek Marshall says the next few months will be an ‘exciting’ time for Trek as it is launching its field season for the year.
The $17.44 million market capitalisation company plans to kick off field activities with drilling in April at its Pincunah project, which includes a recently identified high priority epithermal gold target.
CEO says: “We expect to be drilling the new epithermal gold target we have defined at Pincunah first, with drilling to follow at Christmas Creek in Q3.”
Upon completing final heritage approvals, at Christmas Creek, drilling will be conducted across multiple ‘high priority’ targets that are yet to be tested, including the Willis, Zahn, Coogan, and Martin targets.
Willis is a ‘strong’, cohesive multi-element soil anomaly, yet to be drill tested, while Zahn is an untested zone to the north of previous drilling, with the ‘highest’ raw gold values seen across Christmas Creek.
Coogan is an untested core of a ‘large’ structure with previous drill lines 1km apart, and the Martin target is planned to follow-up on previous intercepts.
Trek has also designed numerous early-stage soil and mapping programs which will follow-up gold, lithium-caesium-tantalum (LCT), and rare earths targets. This is expected to be conducted in the upcoming field season.
Further, Trek’s board has initiated a strategic review of other projects within its portfolio, with the aim to secure pathways to unlock the value of these projects.
After considering the current market conditions and investor sentiment, the company board has resolved to pursue alternative pathways, including potential joint ventures, external funding arrangements, or divestments, for the Tambourah Lithium, Hendeka Manganese, Jimblebar Nickel-Copper, and Lawn Hill projects.
Trek Metals is a diversified mineral explorer focused on making discoveries in ‘frontier’ locations with the aim of unlocking hidden value in ‘largely’ under-explored regions.
As of 31 December 2023, the company had $6.1 million cash at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Trek Metals
