Announcement PDF 18 March 2025 Visible Gold in Drill Chips from Christmas Creek as Trek Moves to Fast-Track Next Phase of Drilling Reverse Circulation drill chips from previously announced high-grade intercepts at Martin confirmed to host visible gold. Trek committed to fast-track drill testing of interpreted extensions. Highlights • • • • • Visible gold identified in drill chips from both previously reported high-grade gold intervals in drill-hole 24XCRC097 at the Martin Prospect (Christmas Creek Gold Project), with intercepts of: o 10m @ 12.66g/t Au from 59m; and o 10m @ 7.34g/t Au from 94m. The occurrence of visible gold in drilling is a positive indication in terms of potential, both from a geological and processing point of view, although metallurgical testing will be required. With previously announced televiewer data indicating a series of stacked (sheeted) quartz veins and the observation of visible gold across both thick, high-grade, intercepts, Trek has decided to fast-track drill testing the interpreted extensions to this system. The field crew will be mobilised in the coming weeks to establish a field camp and commence drill site preparations for the upcoming drilling. Martin remains the priority focus for drilling, which is now planned to commence as soon as practicable. View a new interview with Trek CEO Derek Marshall here Figure 1. Visible gold from 24XCRC097 (96-97m) at the Martin Prospect. Interpreted extensions to be followed up via drilling. Trek Metals Limited (ASX: TKM) (“Trek” or the “Company”) is pleased to advise that it is moving to fast-track preparations for a new phase of drilling at its 100%-owned Christmas Creek Gold Project in the Kimberley region of WA, with the receipt of additional information continuing to support the potential of the project for a significant orogenic gold discovery. The Company has identified visible gold in drill chips following further analysis of the previously reported high-grade gold intervals from the Martin Prospect. This together with recently reported down-hole televiewer data, confirming a series of stacked/sheeted veins, has supported plans to commence the next phase of drilling as soon as possible targeting interpreted extensions to the highgrade orogenic gold veins at Martin. Trek Metals CEO, Derek Marshall, said: “In our view, the Christmas Creek Project represents a major discovery opportunity as part of the upcoming drill season, with the potential for a large-scale orogenic gold find of considerable scale that we believe could quickly re-rate Trek. Thanks to the initial drilling completed last year and the work we have completed over the past few months, this opportunity has now been significantly de-risked as we move towards the next phase of drilling. “The next round of major gold discoveries in Australia are likely to come from areas such as this, where the gold-bearing host rocks are obscured by recent sand cover – meaning this is a completely new search space. We see strong geological analogies in this district to the Tanami region of the NT, which is what attracted the world’s largest gold company, Newmont, to enter into a joint venture and spend $6 million working up early-stage targets. “We have been the beneficiaries of this work and, with a significant breakthrough already achieved at the Martin prospect, we are looking forward to seeing what our next round of drilling can deliver. Orogenic gold systems offer the potential for large, high-grade and long-life gold deposits. They are the most economically important gold deposit type globally. “We are aiming to resume drilling as soon as practicable, with a crew scheduled to return to the field in the coming weeks to undertake drill site preparation. Drilling should commence shortly thereafter, most likely in May.” CEO Interview with Derek Marshall Trek Metals CEO Derek Marshall outlined the geological potential of the Christmas Creek Gold Project and provided an overview of the upcoming drilling plans in a comprehensive interview on The Hole Truth Podcast. Shareholders and investors can access the podcast via the following link: https://youtu.be/1Uf37mLI8WI 2 Figure 2. Visible gold within high-grade quartz veins from 24XCRC097 (62-63m) at the Martin Prospect. This micrograph is taken from the upper intercept in hole 24XCRC097, within 10m @ 12.66g/t Au from 59m, whereas Figure 1 is taken from within the lower intercept of 10m @ 7.34g/t Au. Interpreted extensions to be followed up via drilling. Authorised by the Board of Directors ENDS For further information contact: INVESTORS: MEDIA: Derek Marshall Nicholas Read dmarshall@trekmetals.com.au info@trekmetals.com.au 0419 929 046 JOIN TKM’S INTERACTIVE INVESTOR HUB https://investorhub.trekmetals.com.au/welcome Interact with Trek Metal’s announcements and updates by asking questions and comments which our team can respond to where possible https://trekmetals.com.au/link/7Pl5Ly 3 COMPETENT PERSONS STATEMENT The information in this report relating to Exploration Results is based on information compiled by the Company’s Chief Executive Officer, Mr Derek Marshall, a Competent Person, and Member of the Australian Institute of Geoscientists (AIG). Mr Marshall has sufficient experience relevant to the style of mineralisation and to the type of activity described to qualify as a competent person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.” Mr Marshall has disclosed that he holds fully paid Ordinary Shares and Performance Rights in the Company. Mr Marshall consents to the inclusion in this announcement of the matters based on his information in the form and content in which it appears. DISCLAIMERS AND FORWARD-LOOKING STATEMENTS This announcement contains forward looking statements. Forward looking statements are often, but not always, identified A words such as "seek", “target”, "anticipate", “forecast”, "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. The forward-looking statements in this announcement are based on current expectations, estimates, forecasts and projections about Trek and the industry in which it operates. They do, however, relate to future matters and are subject to various inherent risks and uncertainties. Actual events or results may differ materially from the events or results expressed or implied by any forward-looking statements. The past performance of Trek is no guarantee of future performance. None of Trek’s directors, officers, employees, agents or contractors makes any representation or warranty (either express or implied) as to the accuracy or likelihood of fulfilment of any forwardlooking statement, or any events or results expressed or implied in any forward-looking statement, except to the extent required by law. You are cautioned not to place undue reliance on any forwardlooking statement. The forward-looking statements in this announcement reflect views held only as at the date of this announcement. 4 JORC Table Section 1: Sampling Techniques and Data: Criteria Sampling techniques Drilling techniques Drill sample recovery JORC Code explanation • Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. • Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information. • Drill type (eg core, reverse circulation, openhole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, facesampling bit or other type, whether core is oriented and if so, by what method, etc). • • • Logging • • • Method of recording and assessing core and chip sample recoveries and results assessed. Measures taken to maximise sample recovery and ensure representative nature of the samples. Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. The total length and percentage of the Commentary • Gold bearing individual Reverse Circulation drill chips were identified in field by Trek Metals Ltd geologists via hand lens observations. • Selected drill chips collected in field were then submitted to Microanalysis Australia in Mount Lawley for petrographic analysis. The photographic images included in this announcement as Figure 1 & Figure 2 were taken stereoscopically to produce stereophotomicrographs. • The drill chips are currently being prepared for thin section and full petrographic analysis. • Trek wishes to remind readers that whilst visible gold is a positive indicator for potential future processing, detailed metallurgical test work will be required to determine the processing characteristics of the mineralisation. No metallurgical test work has been conducted to date due to the early-stage nature of the current exploration. • The company believes that the observation of visible gold is a positive indicator in terms of geological prospectivity from an orogenic gold mineral systems approach. • Drill testing was undertaken by Reverse Circulation (RC) and Aircore (AC) with face sampling drill bit, drill cuttings are returned to surface via inner tubes in the drill string. • Drill bit diameter ranged from 115mm to 105mm depending on wear. • Reverse Circulation drilling recoveries were good. 13% of 1m drill samples have been weighed and one hole had the entire drill sample collected in green plastic bags and weighed. Single metre primary samples returned a median weight of 2.37kg. Total sample return for the measured hole returned a median weight of 16.5kg per metre or a range of 70% to 76% of the calculated sample depending on the SG used for the rock mass. • Duplicate samples were collected from the rig every 50m, with duplicate pairs being weighed to monitor the performance of the cyclone and cone splitter. • Sample recovery was consistent across the program with a single driller operating the drill rig and maintaining constant drilling conditions with the equipment, including monitoring bit wear, air return, and cyclone performance. • A cone splitter was used on the drill rig which theoretically gives an even and impartial split of the sample when operated correctly. Adjustable control gates allow the sample size to be calibrated to suit the ground conditions and target sample size. These measures are best practice in producing representative samples. • There is no observed relationship between sample recovery and grade. • Chip trays of 2m composite samples have been collected for the entire length of each hole, logged, and photographed. • Logging has been completed on all drill chips and is qualitative. • Logging covers the entire drilled length of each hole. 5 Criteria Sub-sampling techniques and sample preparation Quality of assay data and laboratory tests JORC Code explanation relevant intersections logged. • If core, whether cut or sawn and whether quarter, half or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. • For all sample types, the nature, quality and appropriateness of the sample preparation technique. • Quality control procedures adopted for all subsampling stages to maximise representivity of samples. • Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling. • Whether sample sizes are appropriate to the grain size of the material being sampled. • • • The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established. Commentary • AC and RC cuttings were collected during drilling as described above with the primary bulk sample captured by bucket and placed in rows of 20 on the ground immediately adjacent the drill rig. • All holes were sampled as 4m composites by the method described below. • From each primary sample pile, material for assay was collected with a ‘Fiskers nyglass potting scoop’ by rotary sampling, that is, starting at the outside base of each pile, pushing toward the centre, then drawing up to the peak, this ensures a representative sample is collected. • Field duplicates have been collected at each 50th sample interval to monitor sample size and provide duplicate material for assay analysis and representivity analysis. • • The sample size and subsampling method is considered appropriate. All drill samples were analysed by Australian Laboratory Services Pty Ltd (ALS) in Malaga, Western Australia for gold and multi‐element analysis (MEMS61, & Au-AA25) except those samples selected for REE or pegmatite hosted mineralisation potential. ME-MS61 is a 4 acid, near total digest, reporting a suite of 48 elements. Au-AA25 is a fire assay on 30g sample with a range of 0.05 – 100ppm Au. Samples that targeted REE mineralisation were assayed by ALS via method ME-MS61R, a 4 acid, near total digest, and reporting the full REE suite. Samples of logged pegmatite were assayed by ALS via method ME-MS89L, a sodium peroxide fusion that results in total digestion of all minerals. These techniques are considered appropriate for the elements of interest. Appropriate standards were inserted at a frequency of one per 50 samples. Duplicate samples were provided from either rig or field sampling at a rate of every 50th sample. ALS laboratory also inserted standards as internal checks. All QAQC analyses of gold results are all within two standard deviations of the CRM standard, and therefore acceptable limits. Significant intercepts have been verified via internal review from three Trek geologists. • • • • • • • • • Verification of sampling and assaying • • • • The verification of significant intersections by either independent or alternative company personnel. The use of twinned holes. Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Discuss any adjustment to assay data. • • High grade intercepts reported for hole 24XCRC097 have been visually confirmed through identification of visible gold in drill cuttings panned on site and in drill chips via hand lens observations in field, and now via stereomicroscopy. • Further verification of the gold grade has been obtained by the use on an onsite Portable PPB DetectOre laboratory, where the results received closely matched to those reported by ALS laboratory from fire assay. • There have been no twinned holes. • Field data is collected and logged into ruggedised Toughbook laptop by the supervising geologist. Field data is routinely checked for accuracy and completeness by the geologist, with further checks once the data is forwarded to the database manager. Any errors or omissions reported by the database manager are verified and corrected by the geologist with the corrected data returned to the database manager for import and safe storage. • Data management consultants compile the data into a relational SQL database, hosted in a secure data centre, which enforces data integrity and ensures that the data meets the required validation protocols. Assay certificates are loaded directly from the laboratory supplied files to the SQL database, to prevent data transcription errors, with routine quality control 6 Criteria Location of data points JORC Code explanation • • • Data spacing and distribution • • • Commentary monitoring to ensure the accurate performance of the assay data. • No adjustments have been made to any assay data. Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Specification of the grid system used. Quality and adequacy of topographic control. • Location of drill collars were recorded using a handheld GPS which is considered appropriate at this stage of exploration. • Grid projection system has been standardised in the database to GDA2020 MGA zone 52 • Surface RL data is collected using GPS, which is then projected to an SRTM DTM to improve accuracy. This is considered appropriate for this stage of exploration. Data spacing for reporting of Exploration Results. Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. Whether sample compositing has been applied. • Exploration drilling and sampling targeted surface geochemical anomalism, with: o AC drill spacing at Zahn South along a single line with hole spacing of 100m. o RC drill spacing at Martin being drill lines spaced 250m apart with along line spacing of 100m. o RC drill spacing at Zahn was four lines 500m apart and holes spaced 100m along line. o RC drill spacing at Coogan being one drill line with holes spaced 100m along the line. o RC drilling at Willis along a single line with holes spaced 100m along the line. Drillhole spacing is considered appropriate for the stage of exploration, though not of sufficient density to establish grade continuity. Further drilling is required to establish continuity that may lead to the estimation of a Mineral Resource. Sample compositing has been applied at the sampling stage as described above. Sample results have been composited as reported in the intercepts. • • • Orientation of data in relation to geological structure • Sample security Audits or reviews Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. • At this early stage of exploration, the exact influence of geological structure is unknown. Additional drilling is required to aid in structural interpretation and determining the relationship between observed mineralisation and geology / structure. • Readers are referred to recent ASX announcement regarding televiewer data from the Martin Prospect for a discussion around vein orientations and geological interpretation: https://trekmetals.com.au/announcements/6799561 • The measures taken to ensure sample security. • Chain of custody is managed by the Company. Samples are freighted directly to the laboratory with the appropriate documentation. • The results of any audits or reviews of sampling techniques and data. • A review of all available information regarding the sampling techniques, data and analytical methods has been undertaken by Trek and it is considered that industry best practice methods have been employed at all stages of exploration to date. Reviews of legacy results have been completed in house by the previous operator and by Trek prior to, and further upon acquisition of the project. Recent data has been submitted to both internal review and discussions around best practice with external consultants. • • • 7 JORC Table Section 2: Reporting of Exploration Results: (Criteria listed in the preceding section also apply to this section.) Criteria Mineral tenement and land tenure status Exploration done by other parties JORC Code explanation • Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. • The security of the tenure held at the time of reporting along with any known impediments to obtaining a license to operate in the area. • Acknowledgment and appraisal of exploration by other parties. Commentary • The Project is located ~140 km south-west of Halls Creek in northern Western Australia and comprises granted licences E80/4975, E80/5082, E80/5083, E80/5427, E80/5914, E80/6011 and E80/6012, and two applications, E80/6007 & E80/6010. All tenements are held by Archer X Pty Ltd. • Key terms for the 100% acquisition of Archer X Pty Ltd by Trek are outlined in the ASX:TKM release dated 11/10/2023. Archer X Pty Ltd is a wholly owned subsidiary of Trek Metals Limited. • The Licences are located on Native Title determined land belonging to the YiMartuwarra Ngurrara in the West, and the Jaru people in the East. There is no determined Native Title claim over the Zahn prospect in the southeast of the Project. • Native title, heritage protection and mineral exploration agreements have been entered into with the Jaru and Yi-Martuwarra Ngurrara Native Title Holders and Newmont Exploration Pty Ltd and/or Archer X Pty Ltd. All agreements are currently in the process of being assigned to Archer X Pty Ltd. All fieldwork activities have been undertaken in conjunction with approval from Native Title representatives of the Yi-Martuwarra Ngurrara and Jaru people with heritage surveys completed at Martin, Coogan, Willis, and Austin, and cultural monitors were present when requested. An archaeological survey was completed prior to drilling activities at Zahn. • The Project area lies within five cattle stations; Larrawa, Lamboo, Carranya, Yougawalla and Bulka. • The Project area is relatively under explored with historical activity centred on the Christmas Creek and Burrtina Pool prospects. A rare earth oxide Resource within a carbonatite dyke (Cummins Range Project, RareX Limited, ASX:REE), exists just outside and to the southeast of the Project area. • Gold nuggets were first discovered in proximity to the Christmas Creek in the 1890’s. Barnes (1985) suggests several thousand ounces were produced from the area, mostly in the 1930s and 1950s. No official production records exist. Further prospecting and illegal dozing of the site has occurred. • CRA Exploration Pty Ltd (CRAE) undertook exploration in the area during the mid-1970s, undertaking an airborne magnetic and radiometric survey, where percussion drilling returned isolated bismuth (420ppm) and gold (0.6ppm) anomalism. • G.B. Barnes and Associates for M.H. Ynema in the mid-1980s to early 1990s undertook sampling across stockwork veining produced a peak gold value of 21g/t Au. A 20g/t Au result was returned in 1992 after further sampling. • Billiton Australia explored the southwestern portion of the Project between 1991 and 1994 for Pb-Zn mineralisation. Utilising 2D seismic data collected in 1985 for oil exploration, gravity, and magnetic data Billiton targeted an oiltrap style limestone dome with a single 565m deep diamond core hole. No significant assay results were returned however the model they were targeting has been superseded. • Northern Star Resource Ltd completed Air Core (AC) drilling targeting the CRAE gold‐bismuth anomaly and geophysical aeromagnetic and radiometric highs undercover. Forty‐six AC holes were drilled for 1,636m over three 8 Criteria Geology Drill hole Information JORC Code explanation • • • Deposit type, geological setting and style of mineralisation. A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: o easting and northing of the drill hole collar o elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole o down hole length and interception depth o hole length. If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case. Commentary years. No significant assays were returned. • Newmont entered into a Joint Venture agreement with Archer X Pty Ltd in 2017 and explored the Project until withdrawal in September 2023, with most of the on groundwork undertaken in the period 2018 – 2022. Exploration included significant surface geochemistry followed up by limited Air Core and Reverse Circulation drilling (details outlined in the announcement dated 11th October 2023, and associated Table 1). Three prospects (Coogan, Martin and Zahn) have been drill tested and have all returned positive results. Highlights from Martin include 7m at 4.9g/t Au (including 1m at 29.6g/t Au) from 24m in hole NEWXCAC196, 2m @ 9.65g/t Au from 72m in NEWXCRC012 and 3m @ 2.03g/t Au from 137m in NEWXCRC015. At Zahn, weak polymetallic mineralisation with a maximum intercept of 1m at 1% zinc was seen in association with sulphides along the contact between granodiorite and metasedimentary rocks. Drilling at Coogan returned 34m @ 0.18g/t Au from 58m in hole NEWXCRC021, 38m @ 0.16g/t Au from 14m and 30m @ 0.15g/t Au from 144m in hole NEWXCRC029. Newmont also undertook numerous geophysical surveys, including passive seismic, ground magnetics, wireline televiewer & airborne EM. • The Project is centred on the southernmost extension of the Halls Creek Orogen, located within the Kimberley region of Western Australia. Proterozoic sediments of the Project area are broadly correlative with Proterozoic sediments of northwestern Australia, host to the world class Callie‐Auron deposit in the Tanami Orogen. • It is hypothesised that this area may represent a triple junction with the Granites‐Tanami Orogen, Wunaamin Miliwundi Orogen and the Halls Creek Orogen. Paleoproterozoic rocks of the eastern zone of the Lamboo Province are the oldest rocks mapped. Neoproterozoic rocks of the Wolfe and Louisa Basins are also present. In the Project area, these Palaeo‐ to Neoproterozoic rocks are largely covered by Phanerozoic sedimentary rocks of the Canning Basin. • The exploration undertaken by Newmont has identified gold mineralisation at Coogan and Martin associated with minor sulphides (pyrite, chalcopyrite) in quartz veins. Mineralisation at Martin has an association with bismuth, tellurium, tungsten and selenium. Mineralisation at Coogan has a strong correlation with bismuth and also an association with tellurium, copper and molybdenum, potentially pointing towards an intrusion-related mineral system. In both cases, the psammitic to pelitic host rocks are interpreted to be part of the Olympio Formation, a correlative of the Killi Killi Formation in the Tanami Region. • All drill collars are reported in previous ASX announcement: https://trekmetals.com.au/announcements/6605930. Drill collars are also displayed for each prospect in Figures 4-8 in ASX:TKM announcement September 2024 Quarterly Activities Report from the 24/10/2024 https://investorhub.trekmetals.com.au/announcements/6594286 Legacy drill information is reported in detail in the ASX:TKM announcement dated 11/10/2023 https://investorhub.trekmetals.com.au/announcements/4421568 A description of spacing is provided in the relevant section of this JORC Table Section 1. • • • 9 Criteria Data aggregation methods Relationship between mineralisation widths and intercept lengths Diagrams JORC Code explanation • In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. • Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. • The assumptions used for any reporting of metal equivalent values should be clearly stated. • These relationships are particularly important in the reporting of Exploration Results. • If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. • If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’). • Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any sign