Second assay batch confirms Kuro as a significant shallow, high-grade manganese discovery
Trek Metals Limited (ASX: TKM) has announced results from the second batch of laboratory assays from its maiden Reverse Circulation (RC) drilling program at the Kuro prospect, within the 100%-owned Christmas Creek Project in WA’s Kimberley region. Of the 50 Phase 1 holes assayed to date, 28 have returned significant manganese intercepts above 5% Mn, including 16 holes with intercepts averaging above 20% Mn.
The standout result from this batch is 7m @ 40.2% Mn from 7m in hole 26XCRC026, sitting within a broader interval of 14m @ 23.6% Mn from 6m, with a peak one-metre assay of 49.9% Mn. Critically, these exceptional grades are not isolated to a single location but are being repeated across the system, pointing to the scale of the Kuro manganese discovery.
Trek Metals CEO, Derek Marshall
“These outstanding results confirm that Kuro is a significant shallow, high-grade manganese discovery, confirming that the high grades we saw in the first batch of results are being repeated across the system.”
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Standout intercepts from the second assay batch
The second batch delivers a series of high-grade intervals across multiple holes. The table below presents the headline intercepts from this batch, sourced from Table 1 of the ASX announcement.
| Hole ID | From (m) | Width (m) | Mn% | Significant Intercept |
|---|---|---|---|---|
| 26XCRC026 | 7 | 7 | 40.2% | 7m @ 40.2% Mn from 7m (within 14m @ 23.6% Mn from 6m) |
| 26XCRC037 | 26 | 3 | 42.7% | 3m @ 42.7% Mn from 26m (within 8m @ 20.6% Mn from 23m) |
| 26XCRC025 | 13 | 3 | 41.8% | 3m @ 41.8% Mn from 13m (within 13m @ 15.3% Mn from 6m) |
| 26XCRC033 | 3 | 8 | 32.7% | 8m @ 32.7% Mn from 3m (within 10m @ 27.8% Mn from 2m) |
| 26XCRC028 | 28 | 6 | 39.0% | 6m @ 39.0% Mn from 28m (within 8m @ 31.3% Mn from 28m) |
| 26XCRC041 | 2 | 4 | 38.6% | 4m @ 38.6% Mn from 2m (within 8m @ 24.1% Mn from 2m) |
A notable characteristic across all results is the shallow depth of mineralisation. Every significant intercept reported to date occurs between surface and 37m down-hole, a logistically and economically favourable attribute for any potential future development. The interpreted mineralised geometry trends from surface in the north-west and deepens progressively towards the south-east.
Why ore quality matters — understanding the manganese geochemistry
Beyond headline grades, the composition of manganese ore determines its commercial value. Iron (Fe) and phosphorus (P) are the principal penalty elements in manganese ore, meaning elevated levels of either reduce the ore’s quality and attractiveness to processors. A key measure is the manganese-to-iron ratio (Mn:Fe): a higher ratio indicates more manganese relative to iron, which is characteristic of better-quality ore.
The geochemical data from Kuro is particularly encouraging across several measures:
- Intercepts averaging ≥20% Mn return 27.0% Mn at 3.28% Fe, for an Mn:Fe ratio of approximately 8:1
- Composites above 30% Mn improve the ratio to 14:1
- The highest-grade intercept (10m @ 42.3% Mn at 0.90% Fe in 26XCRC020) achieves a ratio of 47:1
- Phosphorus is low across most intercepts, ranging from 0.014% to 0.115%
- Silica falls as manganese grade rises, from 49.7% SiO₂ across reported intercepts to 24.4% in the highest-grade interval, indicating that grade and purity move together
It is important to note that no metallurgical or product characterisation testwork has been undertaken at this stage. These observations are early-stage and indicative only, and no inference as to product specification should be drawn from these results.
Phase 2 drilling underway — targeting a 30km prospective basin
The 2,500m Phase 2 RC drilling program at Kuro has now commenced. Phase 2 is targeting high-priority chargeability and conductivity anomalies defined by recent Induced Polarisation (IP) surveying across the greater Kuro region. The program covers a substantially larger area than the Phase 1 drill footprint, with the objective of assessing the scale potential of the mineralised system.
Trek’s interpretation suggests that the host geology of the Kuro manganese mineralisation extends across a basin spanning a 30km strike length within Trek tenure, which is considered highly prospective for additional manganese discoveries.
Trek Metals CEO, Derek Marshall
“Our interpretation suggests that the host geology of the Kuro manganese mineralisation extends across a basin spanning a 30km strike length within Trek tenure which is highly prospective for additional manganese discoveries.”
A range of additional exploration activities are also underway or recently completed across the broader project area:
- High-resolution fixed-wing magnetic and radiometric survey completed over the broader basin area, with data pending
- Gradient Array IP survey completed at the Leviathan Prospect
- Reconnaissance soil sampling survey currently underway across the prospective basin to assess the suitability of the exploration methodology for identifying additional manganese target areas
- Sub-Audio Magnetic (SAM) survey recently completed over the Martin high-grade gold prospect, with data integration in progress
Remaining Phase 1 assay results are expected within 2–3 weeks.
Investment thesis — why Kuro matters for TKM
Two batches of assay results have now confirmed Kuro as a shallow, high-grade manganese system, with strong ore quality characteristics and multiple repeating high-grade zones. Phase 2 drilling is now probing a materially larger footprint, guided by systematic geophysical targeting.
The key pillars of the Kuro investment case at this stage of exploration include:
- 100%-owned project in WA’s Kimberley region, providing full exposure to exploration upside
- Shallow mineralisation, with all intercepts reported within 37m of surface, reducing the potential complexity of any future mining scenario
- Exceptional grades, with multiple intervals above 40% Mn and low iron and phosphorus penalty elements across most intercepts
- Phase 2 now underway, targeting IP-guided anomalies across a larger area than Phase 1
- 30km interpreted prospective basin that remains largely untested, offering material discovery potential
- Ongoing flow of results anticipated as the exploration season progresses, including the final Phase 1 batch expected within 2–3 weeks
Investors should note that this announcement reports Exploration Results only. No Mineral Resource has been estimated for the Kuro Prospect, and insufficient exploration has been completed to do so. Further drilling and evaluation is required, and it remains uncertain whether further exploration will result in the estimation of a Mineral Resource.
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