High-Tech Metals Ltd has reported exceptional high-grade gold assay results from its Wagtail Gold Deposit, reinforcing the deposit's strong continuity and near-term development potential within its Mt Fisher-Mt Eureka Project in Western Australia.
- Bonanza-grade intercept of 1m at 220.8 g/t Au within 5m at 44.41 g/t Au
- Strong continuity confirmed with 10m at 10.37 g/t Au including 1m at 92.15 g/t Au
- 65-hole infill RC drilling program completed; 904 assays pending
- Scoping studies and metallurgical testwork advancing alongside a toll-treatment MOU with Wiluna Mining
- Potential for resource growth at depth supported by best fresh rock intersection to date
Exceptional Gold Grades Confirmed at Wagtail
High-Tech Metals Ltd (ASX – HTM) has unveiled striking assay results from its recent infill reverse circulation (RC) drilling campaign at the Wagtail Gold Deposit, part of the Mt Fisher-Mt Eureka Project in Western Australia. Among the standout intercepts is a bonanza-grade 1 metre sample grading 220.8 grams per tonne (g/t) gold within a broader 5 metre interval averaging 44.41 g/t Au. This remarkable result underscores the high-grade nature of the deposit and its potential to underpin near-term development.
Additional significant intersections include a 10 metre interval at 10.37 g/t Au, featuring a 1 metre sample at 92.15 g/t Au, representing the best fresh rock assay reported at Wagtail to date. These results not only validate the existing JORC (2012) Mineral Resource of 63,000 tonnes at 7.11 g/t Au for 14,600 ounces but also hint at the possibility of resource expansion at depth.
Drilling Program and Resource Confidence
The recently completed 65-hole, 3,323-metre infill RC drilling program was designed to enhance geological confidence within the current resource and test extensions near the Bullock Prospect. While assays from 35 holes have been reported, 904 assays from 30 holes remain pending, with results expected in the coming weeks. The consistency of high-grade mineralisation across multiple shallow intercepts reinforces the coarse-gold, quartz vein-hosted character of the deposit, a hallmark of the Yilgarn Craton’s orogenic gold systems.
High-Tech Metals’ CEO, James Merrillees, highlighted the significance of these results, noting the confirmation of high-grade mineralisation continuity and the strong potential for resource growth. The company is poised to update its Mineral Resource estimate once all assay data is received, a critical step toward advancing the project’s development.
Advancing Towards Near-Term Development
Parallel to exploration, High-Tech Metals is progressing scoping-level mining and processing studies. These include metallurgical testwork, mine design, permitting studies, and a recently executed memorandum of understanding (MOU) for toll-treatment with Wiluna Mining, which could provide a cost-effective processing pathway. SSH Mining Australia Pty Ltd, under a mining agreement with High-Tech Metals, is funding pre-feasibility works and drilling to support a potential Final Investment Decision.
SSH Group CEO Daniel Cowley-Cooper expressed optimism about the project’s prospects, emphasizing the deposit’s high-grade nature and the confidence these results bring to the resource base. The proximity to existing processing infrastructure and granted mining leases further supports the feasibility of near-term production.
Looking Ahead
High-Tech Metals plans to complete the remaining assay analyses, update the resource model, and continue metallurgical and geotechnical drilling in the coming months. Ongoing permitting and mine design efforts aim to maintain momentum toward development, while exploration continues across the broader Mt Fisher-Mt Eureka portfolio to unlock further upside potential.
With strong grades reaffirmed and development studies underway, Wagtail is shaping up as a compelling near-term gold project in one of Australia’s most prolific gold regions.
Bottom Line?
As assay results and development studies progress, Wagtail’s bonanza grades could soon translate into a new gold producer on the ASX.
Questions in the middle?
- How will the pending 904 assays impact the upcoming resource update?
- What are the timelines and key hurdles for the Final Investment Decision?
- How will the toll-treatment MOU with Wiluna Mining influence project economics?