Acquisition of former Newmont project in the Kimberley represents a Tier-1 greenfields exploration opportunity with multiple walk-up, drill-ready targets under shallow cover.
Trek to acquire 100% of issued capital in Archer X Pty Ltd (“Archer”), owner of a 1,183km2 strategic exploration portfolio comprising four granted Exploration Licences and one application in the Kimberley region of WA.
The project previously sat within Newmont’s global exploration portfolio under a farmin joint venture agreement but was recently returned to Archer following a rebalancing of Newmont’s portfolio.
The entire portfolio is covered by Heritage Access agreements, with total exploration expenditure to date of ~$5.7M.
Four major prospects, Martin, Coogan, Zahn and Willis, have been defined, with the presence of bedrock gold mineralisation confirmed by drilling at Martin and Coogan.
Intersections at Martin include 7m @ 4.90g/t Au and 2m @ 9.65g/t Au, with the mineralisation remaining open in all directions.
Significant multi-elemental exploration potential of district-scale including significant rare earths potential adjacent to RareX’s Cummins Range REE Project.
Trek Metals Limited (ASX: TKM) (“Trek” or the “Company”) is pleased to advise that it has secured a district-scale greenfields gold and rare earths exploration opportunity in the Kimberley Region of Western Australia after securing the acquisition of an extensive portfolio previously part of Newmont Exploration Pty Ltd’s (Newmont) global exploration portfolio.
Trek Metals CEO, Derek Marshall, said: “We are extremely fortunate to have secured this exceptional new growth opportunity for Trek. It is very rare for a junior like us to be able to get our hands on a district-scale exploration asset such as this, particularly one that used to sit within the global exploration portfolio of a major company such as Newmont.
“The geological credentials of the Christmas Creek Project are outstanding, and the Project ticks all the boxes in terms of its potential to host discoveries that could really move the dial for a global major. Plus, we are inheriting nearly $6 million of high-quality exploration work and data that was performed to a very high standard by Newmont.
“The Project offers standout gold potential, with numerous shallow, potentially ore grade intercepts that remain unconstrained. In addition, its location near the Cummins Range carbonatite, currently being developed by RareX, highlights the potential for a significant hard rock rare earths discovery.
“We are very excited by this transformational acquisition, and we see the Christmas Creek Project not only becoming a pivotal asset for the Company but also an emerging centre of multi-element exploration and discovery in Western Australia. We are looking forward to getting boots on the ground and commencing our maiden exploration programs.”