Trek Metals Limited (“TKM” or “Company”) has entered into a share sale agreement to purchase 100% of TM Resources Pty Ltd which holds four exploration tenement applications in the Northern Territory known as the Lawn Hill Project. The tenements contain highly prospective geology with the potential to host large scale sediment hosted zinc-lead deposits similar in style to the World Class Century deposit (> 150Mt @ 8.2% Zn + 1.2 % Pb + 33g/t Ag).
Potential to host large scale sediment hosted zinc-lead deposits.
Zinc & Lead (Zn-Pb)
Rocks of the Lawn Hill Platform, hosting the Century Zinc Deposit to the south-east of the tenement applications in Queensland (Figure 1) are mapped across much of the tenement applications that form the Lawn Hill Project. In addition to being correlated with the rocks hosting Century, the Fickling Group sediments within the Lawn Hill Project can also be correlated with those of the McArthur Group which contain one of the World’s largest sediment hosted base metal deposits at McArthur River (HYC Deposit, > 200Mt @ 13% Zn+Pb).
Almost No Previous Exploration
Previous exploration has been sparse across the tenement applications with only one major phase of work being completed during the 1980’s. This work was very broad-brushed and resulted in only two drillholes being completed.
Numerous Zn, Cu and Pb occurrences are described on the Queensland side of the border (Figure 2), including the Walford Creek Project (73 Mt @ 1.4% Cu eq) currently being explored by Aeon Metals Limited, with nothing on the Northern Territory side, due, simply, to a lack of exploration.
Key Deal Terms
AUD $10,000 cash payment up-front
AUD $50,000 in TKM shares to be issued upon the grant of the tenements
AUD $1,000,000 upon the public release of a JORC 2012 Compliant Resource in respect of the Lawn Hill Project of between 550Kt Zn eq – 1.1Mt Zn eq
AUD $3,000,000 upon the public release of a JORC 2012 Compliant Resource in respect of the Lawn Hill Project of between 1.1Mt Zn eq – 2.2Mt Zn eq
TM Resources has commenced discussions with the Waanyi/Garawa Aboriginal Land Trust to facilitate the granting process and TKM looks forward to continuing these negotiations.
Proven team with deep battery market experience
Figure 1: Location Plan of the Lawn Hill Project showing the major geological regions and the location of the Century Zn+Pb Deposit
Figure 2: Plan of the Lawn Hill Project tenement applications showing the geological units hosting the project. Note the mineral occurrences on the Queensland side of the border stopping due to the lack of exploration on the Northern Territory side