Trek acquired the Hendeka project in November 2022. This
transformational acquisition will give the Company an opportunity to pursue the development of an advanced and well-located manganese project in a Tier-1 mining district. The project comprises eight granted Exploration Licences, one pending Exploration Licence and one Retention Licence.
 
The renamed Hendeka Project, provides Trek with exposure to a metal with strong supply-demand fundamentals and a robust outlook given its use in steel manufacturing (which currently accounts for 85-90% of global consumption) and growing consumption by the lithium-ion battery sector.
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Hendeka has a JORC (2012) Inferred Mineral Resource Estimate (MRE) of 11.3Mt grading 15.0% Mn for the Contact and Contact North deposits (Refer ASX Release 6 June 2022) with immediate drill targets for both Resource extensions and new discoveries.
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Metallurgical beneficiation test work was previously undertaken by Spitfire Resources Ltd, on PQ diamond core in collaboration with Mineral Engineering Technical Services (METS) to maximise recovery and grade. Composite intervals were put through a scrubbing test to remove slimes (<1mm) before being separated into fines and lump and then passed through Dense Media Separation (DMS) to remove additional waste. After the DMS tests, the final grade and yield of both products was determined. Based on the results of the test work, a product grading up to 44.6% can be produced (refer Appendix 1 and ASX: SPI 17 February 2012 for additional information).