Acquisition Fuels High-Tech Metals’ Shift from Explorer to Developer Amid Royalty Obligations
High-Tech Metals has completed its acquisition of the Mt Fisher and Mt Eureka Gold Projects, gaining a substantial 1,150km² landholding and a combined gold resource of 187,000 ounces. The company is set to launch an extensive drilling campaign and a joint venture to process historic gold stockpiles.
- Acquisition of Mt Fisher and Mt Eureka Gold Projects finalized
- Combined JORC resource of 3.52Mt at 1.65g/t Au for 187,000oz gold
- Immediate 15,000m drilling campaign planned across multiple targets
- Joint venture with SSH Mining to process historic low-grade stockpiles
- Granted mining leases and significant exploration upside in Northern Goldfields
Strategic Acquisition Expands High-Tech Metals’ Gold Portfolio
High-Tech Metals Limited (ASX: HTM) has marked a pivotal moment in its evolution by completing the acquisition of the Mt Fisher and Mt Eureka Gold Projects from Rox Resources Limited. This transaction significantly expands High-Tech’s footprint in Western Australia’s Northern Goldfields, a region renowned for its prolific gold deposits.
The combined projects encompass a substantial landholding of 1,150 square kilometres, including granted mining leases and a JORC-compliant Mineral Resource Estimate of 3.52 million tonnes grading 1.65 grams per tonne gold, equating to approximately 187,000 ounces of contained gold. This resource base positions High-Tech Metals well beyond the exploration phase, edging closer to development and production.
Robust Exploration and Development Plans Underway
High-Tech Metals has wasted no time outlining an ambitious exploration program, with plans to commence a 15,000-metre drilling campaign immediately. The program will employ a combination of Aircore, Reverse Circulation, and Diamond Core drilling techniques targeting multiple high-grade zones identified from historical intercepts. Notable drill targets include exceptional gold grades such as 9 metres at 34.34 g/t Au and 5 metres at 41.13 g/t Au, highlighting the potential for resource growth.
Beyond drilling, the company has entered into a joint venture with SSH Mining Australia to evaluate and process historic low-grade gold stockpiles accumulated from previous mining activities at Mt Fisher. These stockpiles represent an exploration target of 144,000 to 195,000 tonnes at grades between 0.80 and 1.20 g/t Au, offering a near-term opportunity to generate cash flow while advancing exploration and development.
Positioned for Transition from Explorer to Developer
Non-Executive Chairman Charles Thomas emphasised the transformational nature of the acquisition, noting that the company now controls a significant land package in a premier gold province. With historical production of 30,000 ounces at an impressive 4.43 g/t Au and granted mining leases in place, High-Tech Metals is strategically positioned to transition from an explorer to a developer in the near term.
The projects’ location within the Mt Fisher greenstone belt, adjacent to the prolific Yandal greenstone belt, further underscores the exploration upside. The company’s multi-faceted approach includes geophysical surveys, resource extension drilling, and metallurgical studies aimed at unlocking the full potential of these assets.
Financial and Strategic Considerations
The acquisition was completed through a combination of cash payment, share issuance, and a 1% Net Smelter Return royalty payable to Rox Resources on certain tenements. Shareholder approval was secured in April 2025, reflecting confidence in the strategic direction and value proposition of the deal.
While the exploration targets and stockpile estimates remain conceptual and subject to further validation, the acquisition and associated joint venture represent clear catalysts for value creation. Investors will be watching closely as High-Tech Metals advances its drilling programs and begins to unlock the economic potential of these gold projects.
Bottom Line?
High-Tech Metals’ acquisition sets the stage for a critical growth phase, with drilling results and JV progress poised to shape its future trajectory.
Questions in the middle?
- How will the upcoming 15,000m drilling campaign impact the current resource estimate?
- What are the expected timelines and economics for processing the historic gold stockpiles?
- How might the 1% Net Smelter Return royalty affect project profitability and investor returns?
