High-Tech Metals Limited has executed a binding agreement to acquire key gold assets in Western Australia’s Northern Goldfields, underpinning a major 15,000-metre drilling campaign and a $3.5 million capital raise to accelerate exploration and development.
- Acquisition of 100% Mt Fisher and 51% Mt Eureka gold projects from Rox Resources
- Combined JORC resource of 3.52 Mt @ 1.65 g/t Au for 187,000 ounces gold
- Immediate 15,000m drilling program planned to expand resources and test targets
- Assessment of historic Mt Fisher low-grade stockpiles for processing potential
- $3.5 million capital raise via placement and rights issue to fund exploration
Strategic Acquisition in a Premier Gold Province
High-Tech Metals Limited (ASX: HTM) has taken a decisive step to transform its portfolio with the binding acquisition of the Mt Fisher Gold Project (100%) and a majority 51% stake in the Mt Eureka Gold Project from Rox Resources Limited. Situated in the Northern Goldfields region of Western Australia, these projects collectively cover a substantial 1,150 square kilometres within the underexplored Mt Fisher greenstone belt, a geological setting known for hosting significant gold deposits.
The acquisition consolidates High-Tech’s position in a prolific mining district, located just 40 kilometres east of the renowned Yandal greenstone belt, home to major gold operations such as Jundee and Bronzewing. The projects come with granted mining leases and a combined JORC Mineral Resource Estimate of 3.52 million tonnes at 1.65 grams per tonne gold, equating to approximately 187,000 ounces, with nearly half classified as Measured and Indicated resources.
Exploration Upside and Historic Stockpile Potential
High-Tech’s technical team has identified numerous high-priority, walk-up drill targets across the tenement package, signaling strong potential for resource growth. The company plans an aggressive 15,000-metre drilling campaign employing Aircore, Reverse Circulation, and Diamond Core methods immediately upon acquisition completion. This program aims to extend known mineralisation and test new targets highlighted by recent geochemical and geophysical surveys.
In addition to in-ground resources, the company is evaluating historic low-grade ore stockpiles at the Mt Fisher mine site, which were previously mined in the late 1980s. Early sampling indicates these stockpiles contain gold grades averaging around 1 gram per tonne, with metallurgical recoveries yet to be fully assessed. High-Tech intends to conduct further drilling and metallurgical testing on these stockpiles, potentially unlocking near-term processing opportunities.
Leadership and Funding to Drive Growth
During the quarter, High-Tech appointed Dr. Warren Thorne as Chief Executive Officer. Dr. Thorne brings over two decades of experience in gold and base metals exploration and development, having held senior roles at major mining companies and ASX-listed entities. His expertise is expected to accelerate the company’s exploration programs and strategic development.
To support its ambitious plans, High-Tech is undertaking a $2.5 million placement at $0.15 per share, accompanied by a 1-for-2 free attaching option exercisable at $0.25, alongside a $1 million non-renounceable rights issue on the same terms. The capital raise is designed to fund exploration activities, environmental and heritage approvals, and corporate costs. As of 31 March 2025, the company held $1.44 million in cash with no debt, positioning it to advance its projects with financial discipline.
Outlook and Market Positioning
High-Tech Metals’ acquisition and planned exploration program represent a significant pivot towards gold exploration and development, complementing its existing cobalt assets in Canada. The Northern Goldfields region’s proven track record for high-grade discoveries adds credibility to the company’s growth thesis. Investors can anticipate a steady flow of exploration updates throughout 2025 as drilling progresses and stockpile assessments are completed.
While the acquisition is subject to formal transfer processes and exploration outcomes remain to be proven, the strategic move signals High-Tech’s intent to become a notable player in Western Australia’s gold sector. The company’s ability to execute its drilling program and capital raise will be critical to unlocking value from these newly acquired assets.
Bottom Line?
High-Tech Metals’ bold acquisition and exploration push could redefine its growth trajectory, but drilling results will be the true test.
Questions in the middle?
- How will initial drilling results at Mt Fisher and Mt Eureka influence resource upgrades and project valuation?
- What metallurgical recoveries can be achieved from the historic low-grade stockpiles, and will they support near-term processing?
- Will the planned $3.5 million capital raise fully fund the aggressive exploration and development plans through 2025?