Summary of our 2024 year:
1. Acquisition of New Projects
Christmas Creek Gold & Rare Earths Project: Trek Metals acquired this extensive exploration opportunity in the Kimberley region of WA, encompassing approximately 1,183 km² of largely unexplored territory. This project is located at a significant tectonic intersection, associated with critical mineral exploration. An initial drilling program is scheduled to begin in the September 2024 quarter.McEwen Hills Niobium Project: Trek secured an 80% interest in this niobium project located in the West Arunta province of Central Australia, enhancing its profile in critical minerals.
2. Exploration and Drilling Advances
At the Pincunah Project, surface geochemical analyses revealed a new target named "Champagne Pool." Initial drilling conducted in April 2024 aimed to validate the potential of this site for epithermal gold mineralization.
3. Financial Activities
Trek completed a capital raising of A$7.5 million to expedite exploration programs. This included issuing 125 million shares at a price of A$0.06, along with attached options for existing and new investors.
4. Strategic Review of Assets
Following the acquisition of new projects, Trek initiated a strategic review of its remaining portfolio, which includes lithium, manganese, and nickel-copper assets, seeking alternative development pathways potentially through joint ventures or divestment.
5. Cultural Heritage Engagement
The company engaged with Traditional Owner claimant groups to discuss proposed activities related to drilling at the Christmas Creek Project, demonstrating its commitment to cultural heritage considerations.
6. Financial and Corporate Framework
The acquisition of Archer X Pty Ltd was finalized, involving both immediate and deferred considerations, including shares and a royalty agreement.These developments reflect a strategic expansion into critical minerals, a focus on exploration, community engagement, and robust financial planning to support growth.
2025 will be the defining year by a mile. Let that diamond drill results follow.
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