High-Tech Metals has resumed its second phase of drilling at the Wagtail Gold Deposit, following promising initial assay results that confirm shallow, high-grade gold mineralisation. The ongoing program aims to refine resource confidence and support near-term development plans.
- Second phase of ~3,000m RC drilling recommenced at Wagtail
- Initial rush assays confirm high-grade gold including 6m at 28.96 g/t Au
- Drilling targets improved geological confidence and grade continuity
- Program fully funded and managed by SSH Mining Australia Pty Ltd
- Wagtail hosts a JORC resource of 14.6 koz at 7.11 g/t Au on granted lease
Drilling Resumes at Wagtail
High-Tech Metals Ltd (ASX, HTM) has restarted the second phase of its reverse circulation (RC) drilling campaign at the Wagtail Gold Deposit in Western Australia. This follows a Christmas break and the completion of the first phase, which delivered encouraging early assay results. The program is designed to complete the remaining metres of an approximately 3,000-metre infill and grade-control drilling effort.
Promising Early Assay Results
Rush assays from the initial phase confirmed the presence of shallow, high-grade gold mineralisation within the existing resource envelope. Notably, one intersection returned 6 metres at 28.96 grams per tonne (g/t) gold from 31 metres depth, including a standout 1 metre at 171.35 g/t. These results validate the geological model and highlight the coarse-gold nature of the deposit, underpinning confidence in grade continuity.
Strategic Importance of the Drilling Program
The ongoing drilling is focused on improving geological confidence and refining the continuity of gold grades, which are critical for accurate mine planning and metallurgical testwork. The data generated will support technical studies aimed at advancing Wagtail towards potential near-term development. The deposit currently holds a JORC (2012) Mineral Resource of 14,600 ounces at 7.11 g/t gold, situated on a granted mining lease with established infrastructure.
Partnership and Funding
Importantly, the drilling program is fully funded and managed by SSH Mining Australia Pty Ltd, a subsidiary of SSH Group Ltd (ASX, SSH), under an existing Mining Agreement. This partnership alleviates financial risk for High-Tech Metals and accelerates the evaluation process. SSH Mining’s COO, Sam Baker, emphasised the disciplined approach to drilling as fundamental to reducing technical risk and supporting engineering decisions.
Looking Ahead
High-Tech Metals CEO James Merrillees highlighted that completing the infill drilling will enhance resource confidence and provide essential inputs for ongoing development studies. The company plans to progressively release assay results from both drilling phases while continuing metallurgical testing and engagement with processing partners. These steps are crucial as High-Tech Metals evaluates Wagtail’s potential as a near-term production opportunity within its broader Mt Fisher–Mt Eureka project portfolio.
Bottom Line?
As drilling progresses and assay results flow in, Wagtail’s potential to transition from resource to production will come into sharper focus.
Questions in the middle?
- Will the full assay results maintain or exceed the high-grade expectations set by rush assays?
- How will metallurgical testwork influence the economic viability of Wagtail’s gold mineralisation?
- What timeline is envisaged for a Final Investment Decision given the current drilling and studies?