Trek Metals set to drill Christmas Creek with EIS support

Trek Metals has awarded a drilling contract and secured EIS funding to start drilling this month at Christmas Creek gold project in WA.

The company’s recent placement and EIS grant has them well funded to commence drilling at the project. Pic: Getty Images.

Special Report: Trek Metals has awarded the contract for upcoming drilling at its Christmas Creek gold project in WA’s Kimberley to Precision Exploration Drilling, with the program set to begin this month supported by WA Government co-funding.

• TKM awards drill contract and scores EIS co-funding for Christmas Creek drilling
• Company following up on promising visible gold hits
• Drilling to commence mid to late May

The 1183km2 Christmas Creek project southwest of Halls Creek is an underexplored, largely concealed district-scale gold and rare earths exploration opportunity. 

Previous exploration to test if the area is an extension of the prolific Granites-Tanami Orogen demonstrated a correlation to the sequences that host Newmont Mining’s Tanami gold mine in the Northern Territory.

The company’s plan is to complete RC drilling targeting extensions of previous high-grade intervals at the Martin target of 10m at 12.66g/t gold from 59m and 10m at 7.34g/t gold from 94m.

Trek Metals (ASX:TKM) also reported visible gold at the Martin target just last month.

The drilling will also target high-grade zones at the Coogan and Zahn targets following up on encouraging results from 2024 drilling of up to 0.65g/t gold.

Exploration backed by WA Government

The company has secured a co-funded Exploration Incentive Scheme (EIS) drilling grant of up to $180,000 for the program, based on the commitment to target major new greenfields gold discoveries undercover in frontier locations - such as Christmas Creek.

Trek also just completed an oversubscribed $3.5m placement at 5c per share – including a $500,000 cornerstone investment from Patronus Resources (ASX:PTN) - to fast-track drilling at the project.

“With the award of the drill contract, we are now well and truly into the final countdown to drilling at Christmas Creek,” TKM CEO Derek Marshall said. 

“The drill rig is booked for late this month, the field crew has mobilised to site and final preparations are in full swing.

“We are on track to press the ‘go’ button towards the end of the month, with the initial lines of RC drilling planned in and around and the high-grade intercepts at Martin.”

Marshall said the EIS funding recognised the technical achievements of the team as well as the prospective nature of the Christmas Creek gold project. 

“The award is an independently moderated, highly competitive process – and this grant funding supports our belief in the potential of what could be a major new undercover gold province in WA,” he said.

Watch: No time like the present for exploring at Christmas Creek

This article was developed in collaboration with Trek Metals, a Stockhead advertiser at the time of publishing. 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

Originally published as Trek Metals set to drill Christmas Creek with EIS support