Acquisition of additional tenement expands the tenement footprint of the former Newmont
project in the Kimberley which is a Tier-1 greenfields exploration opportunity with multiple walkup, drill-ready targets under shallow cover.
Trek has applied for new application ELA 80/5996.
Trek has agreed terms for the existing applicant over the same area to withdraw their application in favour of Trek’s new application.
The new tenement application is in addition to tenements acquired as part of the acquisition of Archer X Pty Ltd which comprises four granted Exploration Licences and one application in the Kimberley region of WA (Refer ASX Release 11 October 2023).
The Christmas Creek project previously sat within Newmont’s global exploration portfolio under a farm-in joint venture agreement but was recently returned to Archer following a rebalancing of Newmont’s portfolio.
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 new tenement application to add to the district-scale greenfields gold and rare earths exploration opportunity in the Kimberley Region of Western Australia.
The new tenement application ELA 80/5996 will form part of the Christmas Creek Project, located south-west of Halls Creek which represents a previously unexplored, largely concealed district-scale gold and rare earths exploration opportunity, associated with a major continental-scale tectonic lineament intersection.
Trek’s CEO Derek Marshall said: “We are very fortunate to have secured this additional tenement, expanding our landholding at the Christmas Creek Project along an interpreted key structural corridor."
“The Christmas Creek Project is 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.
“This new tenement application is of significant interest to Trek as it potentially hosts Rare Earth mineralisation due West of the Cummins Range carbonatite. The tenement may also host an extension to the mineralised structures at the Zahn Prospect.
“We are very excited by this 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 hitting the ground running in 2024.”