Trek Metals Commences High-Impact Drill Program at Christmas Creek
TKM (TKM) Share Update August 2024 Thursday 8th
Trek Metals Begins Major Drill Program at Christmas Creek
Trek Metals Limited (ASX: TKM) has announced the commencement of a significant 8,000-meter reverse circulation (RC) drill program at its 100%-owned Christmas Creek Gold and Rare Earth Element (REE) Project in the Kimberley region of Western Australia.
Instant Summary:
- Drilling has commenced at the Christmas Creek Project.
- Heritage survey and earthworks completed.
- Soil sampling program completed.
- Four high-priority gold prospects: Coogan, Martin, Zahn, and Willis.
- Previous intersections at Martin include 7m @ 4.90g/t Au and 2m @ 9.65g/t Au.
- One REE/Niobium target along strike from the Cummins Range REE Deposit.
Drilling Details
The drill contractor has arrived on site, and drilling has commenced at the Christmas Creek Project. This marks a significant milestone for Trek Metals and its shareholders as the company aims to explore the potential of this large and highly prospective project.
The initial drilling will focus on the Martin prospect, a well-defined gold target where previous drilling by Newmont returned significant high-grade intercepts. The program will then advance to systematically test the Coogan, Zahn, and Willis gold targets, as well as the Zahn South Rare Earth target.
Prospect Highlights
Coogan is a large, well-defined gold mineralized system with only wide-spaced drilling completed previously. This season, Trek Metals will drill the untested core of the system and step out to look for potential parallel structures. The previous drilling intersected broad zones of low-grade gold, highlighting the potential for a large system.
Willis has never seen a drill-hole, but the new zone identified to the north of Zahn looks particularly exciting when considering the magnetic signature of the host rocks. Martin has previously delivered significant results, which remain open for follow-up drilling.
Background and Preparation
Since acquiring the project in late 2023, Trek has completed the acquisition and merging of all legacy exploration data, re-processing of geophysical data sets, heritage and environmental approvals, and a targeted soil sampling campaign. The attributes that initially attracted Trek to the project have been reinforced as the company’s understanding of the data and the potential of the project has grown.
The previous project operator, Newmont, used Deep Sensing Geochemistry (DSG) technology, a highly sensitive geochemical low detection limit surface sample assay technique. This has allowed Trek to identify buried mineralization that may prove to be economic with drilling.
The tenement package is a large area that is under-explored, mainly due to the geology being obscured by recent shallow sand cover.
Future Exploration
The current drill program aims to demonstrate continuity of the mineralization, locate areas of increased grade, and expand the number of targets for future exploration. The company aspires to make a meaningful mineral discovery and unlock value for shareholders.
The commencement of the drill program at Christmas Creek is a significant step for Trek Metals. Successful drilling results could lead to a substantial increase in the company's stock price as investors react to the potential for a large gold and rare earths discovery. The project's location in a highly prospective region further adds to its attractiveness.
Investor Reaction:
Analysts are likely to react positively to the news, given the high potential of the Christmas Creek Project. The historical data and the use of advanced geochemical techniques like DSG provide a strong foundation for the current drilling program. However, investors will be keenly watching the results of the drilling to gauge the project's true potential.
Conclusion:
Investors should keep a close eye on the progress of the drilling program at Christmas Creek. The results from this high-impact drill program could significantly influence Trek Metals' stock performance and provide valuable insights into the project's potential. Stay tuned for further updates as the drilling progresses.