High-Tech Metals is targeting a Wagtail-scale gold discovery at the untested Bullock prospect while fast-tracking financial studies to bring Wagtail and Damsel deposits closer to production.
- Bullock prospect shows geological similarities to high-grade Wagtail deposit
- Surface rock chips at Bullock assay up to 14.2 g/t gold
- Financial and development studies underway to accelerate Wagtail production
- Drilling planned at Damsel to advance mining lease status
- Strategy balances near-term production with exploration upside
High-Tech Metals Targets Bullock for Wagtail-Style Gold Discovery
High-Tech Metals Ltd (ASX, HTM) has announced an aggressive push to replicate the success of its Wagtail gold deposit by exploring the nearby Bullock prospect. Situated immediately north of Wagtail on the same mining lease, Bullock remains untested by drilling but exhibits striking geological parallels to Wagtail, including iron-rich quartz veining and sulphide pseudomorphs. Surface rock chip samples have returned impressive gold grades up to 14.2 grams per tonne, underscoring the prospect’s potential as a high-grade discovery.
The Bullock area, historically prospected in the 1980s, has seen limited modern exploration despite promising bulk samples and rock chip results. High-Tech Metals’ renewed focus on this zone reflects a strategic effort to unlock near-mine discovery upside that could materially enhance the economics of its existing projects.
Advancing Wagtail and Damsel Towards Production
Alongside exploration ambitions, High-Tech Metals is accelerating its pathway to production. SSH Mining, the project operator, has commenced desktop financial and development studies aimed at fast-tracking the Wagtail deposit into production. These studies will be complemented by an infill drilling program designed to improve geological confidence and support mine design. Upon completion, a Scoping Study will be initiated to underpin development decisions.
Meanwhile, the Damsel deposit, located on the northern end of the Dam-Damsel trend, is also progressing. With an existing mineral resource estimate of approximately 75,000 ounces of gold, High-Tech Metals plans drilling to advance Damsel towards mining lease status. Previous drilling at Damsel has revealed several high-grade intercepts, reinforcing its potential as a near-term development opportunity.
A Balanced Strategy for Growth and Production
High-Tech Metals’ CEO, James Merrillees, emphasised the dual focus on discovery and development. The company aims to establish early cash flow through near-term production at Wagtail and Damsel while pursuing exploration upside at Bullock. This approach seeks to deliver strong leverage to exploration success without losing sight of a disciplined production pathway.
SSH Mining’s COO, Sam Baker, highlighted the rare combination of high-grade mineralisation, simple metallurgy, and secure tenure at Wagtail, which supports confidence in the project’s development trajectory. The Bullock prospect, as an untested high-grade system adjacent to Wagtail, represents an exciting opportunity to enhance the overall project economics.
While the financial and development studies are preliminary and outcomes remain uncertain, the company’s clear strategy and ongoing drilling programs position High-Tech Metals as a compelling player in Western Australia’s gold exploration and development landscape.
Bottom Line?
High-Tech Metals is setting the stage for a potential gold production boost, but drilling results and study outcomes will be critical to watch.
Questions in the middle?
- Will drilling at Bullock confirm a Wagtail-scale gold system?
- How soon can Wagtail and Damsel realistically transition to production?
- What impact will Bullock’s discovery have on the overall project economics?