Trek Metals Limited (ASX: TKM) has reached agreement to acquire a 100% interest in precious and base metals exploration tenement E45/4640, located immediately adjacent to its Pincunah Project.
The acquisition, which is subject to completion of due diligence, will further strengthen Trek’s exploration pipeline in the world-class Pilbara mining district.
The tenement lies close to the company’s emerging Valley of the Gossans VMS discovery and is highly prospective for both new gold and base metal discoveries.
“This acquisition represents an exciting low-cost, low-risk opportunity for Trek Metals to continue to build on its highly prospective Pincunah tenement package in the world-class Pilbara Mineral Province,” Trek Executive Director, John Young, said.
“The agreement will give us the opportunity to evaluate the mineral potential within this tenement, which lies in close proximity to our existing Pincunah Gold & Base Metal Project and offers highly prospective geology for new discoveries.
“This agreement with Pilbara Minerals is structured in a way that provides the opportunity to complete additional exploration and fieldwork to confirm this potential with no upfront cash outlay.
“We will be exploring this ground for both gold and base metal opportunities, particularly in light of its proximity to extensive base metal EM targets identified at our nearby Valley of the Gossans VMS Project and other large gold deposits in the region such as Kairos’ Mt York gold project.”
Pincunah Tenements – Geological Overview
The new tenement consists of one Exploration Licence covering a total area of 25.3 square kilometres. E45/4640 is a contiguous licence located between the two sections of Trek’s existing tenement E45/4909.
Several prospective northwest trending structures occur on the licence that cross-cut mafic and ultramafic rocks. The tenement is also adjacent to the recently defined (and subsequently upgraded with surface geochemical anomalism) Conductor A.
The northern extension of the Valley of Gossans prospect trend is also interpreted to occur on the licence. At least one known gossan occurrence is known to exist, but very little exploration has been conducted to investigate the area.
This block creates a contiguous area across the Pincunah tenure (with the adjacent Valley of then Gossans’ licence, E45/4909).
For further information please visit: https://trekmetals.com.au/