Trek strikes base metals deal with Pilbara Minerals
PERTH (miningweekly.com) – ASX-listed Trek Metals has inked an agreement with lithium miner Pilbara Minerals to acquire a base metals tenement in the Pilbara.
The tenement is immediately adjacent to Trek’s Pincunah project and is prospective for gold and base metals discoveries.
Under the terms of the agreement, Trek would issue A$300 0000 worth of fully paid ordinary shares.
“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,” said executive director John Young.
“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 and 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 electro-magnetic targets identified at our nearby Valley of the Gossans volcanogenic massive sulphide project and other large gold deposits in the region such as Kairos’ Mt York gold project.”
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