The Centurion Project encompasses a high-quality Iron Oxide Copper Gold (IOCG) exploration target which represents a unique, walk-up drilling opportunity in a frontier mineral province. The target consists of a coincident large-scale magnetic anomaly extending over an area of 3.5km by 5km with a coincident gravity high in a slightly offset position (Figure 1). This is a characteristic geophysical signature of Tier-1 IOCG deposits such as Olympic Dam and Prominent Hill in South Australia.
CRA completed a single historical drill-hole (VE001) at the target which failed to penetrate the Canning Basin cover but did intersect clasts of altered intrusives and geochemical anomalism consistent with local derivation from an IOCG setting.
Trek intends to fast-track its assessment of the IOCG opportunity by drilling a single deep parent diamond drill-hole, together with a proposed W1 daughter hole (Figure 2). Drilling will commence as soon as practicable, subject to drill rig availability, permitting and access.
Trek’s exploration team believes that the Centurion target represents an exceptional exploration opportunity to evaluate a standout geophysical target with all the hallmarks of a large-scale, Tier-1 IOCG system. The lack of effective historical drilling in the area adds to the strong investment case for this Farm-in and Joint Venture Agreement.
The Centurion Project is subject to an earn in agreement with Buxton Resources Ltd (refer ASX: TKM 28th March 2022 for additional information). The Project comprised granted Exploration Licence E80/5579 (granted in November 2021), located in the Great Sandy Desert on unclaimed crown land approximately 400km south of Halls Creek in Western Australia. To complement this opportunity Trek has applied for additional tenure surrounding and in close proximity to the Centurion target.