Trek Metals Uncovers High-Grade Manganese at Kuro Prospect, Raises $19.5 Million
Trek Metals has marked a breakthrough year with a high-grade manganese discovery at its Christmas Creek Project in Western Australia, supported by strong assay results and expanded exploration tenure. The company bolstered its balance sheet with $19.5 million raised to fund drilling and further exploration.
- High-grade manganese assays up to 60.1% Mn at Kuro Prospect
- Ground gravity surveys indicate extensive subsurface mineralisation
- Exploration tenure expanded to ~7,040 km² in Kimberley region
- Raised $19.5 million to accelerate drilling and working capital
- Board changes with Andrew Reece appointed Chairman
Breakthrough Manganese Discovery at Christmas Creek
Trek Metals Limited (ASX:TKM) delivered a landmark year ending 31 March 2026, unveiling a significant high-grade manganese discovery at its 100%-owned Christmas Creek Project in Western Australia’s Kimberley region. The newly named Kuro Prospect boasts rock chip assays of up to 60.1% manganese, with mineralisation traced over 750 metres of surface strike and indications from ground gravity surveys that the system extends substantially at depth.
The Kuro discovery, interpreted as a hydrothermal manganese system analogous to the world-class Woodie Woodie deposits, represents a major pivot for Trek, which had initially focused on gold exploration at Christmas Creek. The high density of manganese oxide minerals observed at surface (averaging 4.03 g/cm³) produced coherent gravity anomalies, validating geophysical models and highlighting two structurally controlled corridors as prime drill targets.
Geophysical Surveys and Drilling Plans Underway
Following promising petrophysical testing confirming strong Induced Polarisation (IP) responses, Trek has scheduled a two-stage IP survey to refine subsurface targets. The first stage involves a Gradient Array IP survey across the Kuro area and along strike, followed by detailed Dipole-Dipole IP lines over high-priority anomalies. The company awarded a Reverse Circulation (RC) drilling contract to Precision Exploration Drilling, with drilling expected to commence in late May 2026, pending cultural heritage clearance.
These activities aim to delineate the extent of the manganese mineralisation beneath the sand cover, a critical step in assessing the commercial potential of the Kuro Prospect.
Strategic Expansion of Exploration Tenure
Capitalising on the Kuro discovery, Trek has significantly expanded its manganese-focused landholding in the Kimberley-Tanami region, lodging applications for 12 new exploration tenements covering approximately 5,608 km². This expansion brings the company’s total tenure in the district to around 7,040 km², establishing a district-scale footprint over under-explored Proterozoic marine sedimentary sequences favourable for sedimentary-hosted and hydrothermal manganese systems.
This strategic land acquisition reinforces Trek’s position in an emerging manganese province with limited modern exploration despite promising geological architecture and confirmed mineral occurrences.
Gold and Base Metals Progress at Christmas Creek
Alongside manganese, Trek’s gold exploration at Christmas Creek yielded encouraging results at the Martin Prospect, extending zones of high-grade mineralisation with assays including 4 metres at 14.18 g/t gold and 3 metres at 6.17 g/t gold. Drilling also targeted copper-gold intrusion-related systems at Coogan, Brockhurst, and Jobs prospects, now interpreted as components of a large mineralising system.
Complementing exploration efforts, Trek secured a co-funded grant from the Western Australian Government’s Exploration Incentive Scheme (EIS) to undertake a sub-audio magnetics survey aimed at defining major structures controlling gold mineralisation at Martin.
Portfolio Management and Corporate Developments
Trek divested non-core assets during the year, including the South Woodie Woodie Manganese Project to AE Fuels Corporation, receiving $450,000 in cash and 8 million AEF shares, and a sale agreement for the Pincunah gold and base metals project to Kairos Minerals Limited, consistent with a focus on flagship projects.
Financially, Trek reported a loss of $8.4 million for the year, reflecting increased exploration expenditure and impairment charges. Exploration and evaluation expenditure capitalised totaled $3.37 million, with impairments of $3.7 million. The company ended the year with a robust cash position of $14.5 million, up from $1.7 million, following three capital raisings totaling $19.5 million to fund exploration and working capital.
Board Evolution and Leadership Transition
Board changes marked the year, with Andrew Reece appointed as a Non-Executive Director in December 2025 following a $500,000 cornerstone investment. Reece succeeded Tony Leibowitz as Chairman in April 2026, as part of a planned succession process. Reece brings extensive commercial and leadership experience, including founding and leading high-growth businesses.
The company also issued significant performance rights to directors, management, and employees under its Employee Incentive Securities Plan, aligning remuneration with shareholder value creation.
Bottom Line?
Trek Metals’ high-grade manganese discovery at Kuro and expanded tenure position it as a notable player in an emerging province, but upcoming drilling results will be crucial to validate the scale and economic potential beneath cover.
Questions in the middle?
- How extensive and economically viable is the manganese mineralisation at depth beyond current gravity anomalies?
- Will the upcoming drilling at Kuro confirm a resource capable of underpinning development?
- How will the leadership transition influence Trek’s strategic focus and capital allocation?
