Trek surges on potential VMS discovery
Shares in Trek Metals shot up after the company’s first drilling program at its Valley of the Gossans prospect, part of the Pincunah project in the Pilbara, confirmed the potential for a “significant VMS system” (reports MiningNews).
14th October 2021
Reverse circulation hit 88m at 17 grams per tonne silver from 0m, including 4m at 223gpt silver; 25m at 6.7gpt silver from 112m, including 3m at 0.75% copper; 20m at 4.17gpt silver and 1.48% zinc from 171m, including 1m at 5.99% zinc and 6m at 3.76% zinc; and 70m at 7.39gpt silver from 0m, including 2m at 0.4% copper and 0.2gpt silver.
The company said Valley of the Gossans shared "striking" geological similarities to Develop Global's advanced Sulphur Springs copper-zinc project, 25km to the east.
"The key takeaway for investors is that we now have enough evidence to be very confident that the Valley of the Gossans project is likely to be large-scale VMS copper-zinc base metal system with an extensive footprint that extends over 2km," Trek CEO Derek Marshall said.
"The assays show that we intersected multiple horizons of classic VMS-style mineralisation and alteration, with highly anomalous zinc, copper and silver, plus multiple pathfinder elements that suggest we are right in the middle of a very fertile volcanic environment."
Trek is planning soil sampling, a helicopter electromagnetic survey and down-hole EM.
"VMS deposits often have a relatively small footprint, so the next step is to focus in within the broad anomalous zone on potential accumulations of massive sulphide mineralisation," Marshall said.
"This work will commence in the coming weeks and should provide us with targets to be tested with follow-up drilling."
Trek is hoping to secure a rig for a follow-up drilling program.
Sulphur Springs has a resource of 13.8 million tonnes at 1.5% copper and 3.8% zinc and is subject to a current A$10 million drilling program under leadership of new managing director Bill Beament.
Trek's board comprises Pilbara Minerals founders John Young, Neil Biddle and Tony Leibowitz
© 2021 Resources Rising Stars All Rights Reserved