Resource Extensions at Wagtail Could Shift Near-Term Production Plans

• Infill RC drilling returns shallow, high-grade gold intersections up to 92.15 g/t Au
• Strong grade continuity confirmed within existing JORC 2012 Mineral Resource of 63 kt @ 7.11 g/t Au
• End-of-hole and step-out drilling indicate potential extensions beyond current resource limits
• Development studies and metallurgical testwork underway with JV partner SSH Group
• Additional mineralisation identified at nearby Bullock Prospect consistent with Wagtail system

Exceptional Grades Reinforce Wagtail’s Potential

High-Tech Metals Ltd (ASX:HTM) has unveiled compelling 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. The drilling has delivered multiple shallow, high-grade gold intersections, including standout assays such as 12 metres at 8.81 grams per tonne (g/t) gold, featuring a bonanza 1-metre interval grading 84.11 g/t Au, and 9 metres at 7.04 g/t Au with a 1-metre hit of 92.15 g/t Au. These results confirm the strong grade continuity within the existing JORC (2012) Mineral Resource, which currently stands at 63,000 tonnes at 7.11 g/t Au for 14,600 ounces.

Indications of Resource Extensions

Beyond confirming the resource, the drilling program has returned several end-of-hole mineralised intersections and step-out holes north of the current resource boundary, suggesting the Wagtail mineralised system may extend further than previously modelled. This is particularly encouraging for High-Tech Metals as it points to potential resource growth. The company is actively reviewing structural interpretations to identify additional high-grade shoots, either at depth or offset from the main mineralised trend.

Supporting Development and Near-Term Production

With drilling now complete, High-Tech Metals is progressing an updated resource estimate alongside scoping-level development studies. These efforts are supported by metallurgical testwork, mine design, and permitting studies, conducted in partnership with SSH Group, the company’s joint venture mining partner. The collaboration aims to assess the feasibility of near-term production from Wagtail, leveraging the deposit’s high-grade nature and continuity.

Exploration Beyond Wagtail: Bullock Prospect

The recent drilling program also targeted the nearby Bullock Prospect, located approximately 150 to 200 metres northeast of Wagtail. Here, High-Tech Metals intersected mineralisation consistent with the Wagtail-style quartz vein system, including a notable 2-metre interval at 7.05 g/t Au. While most holes returned narrow low-grade zones, the structural relationship between Bullock and Wagtail is under review, with the potential to define additional resource ounces.

Looking Ahead

Key upcoming activities include final assay results from composite samples, completion of the updated Wagtail Mineral Resource estimate, ongoing metallurgical testwork, geotechnical diamond drilling, and continued permitting and mine design studies. The company is also maintaining engagement under a toll-treatment memorandum of understanding with Wiluna Mining, which could facilitate processing options. These steps are critical as High-Tech Metals advances its strategy to unlock value from its significant gold project portfolio in the prolific Yilgarn Craton.

Bottom Line?

As High-Tech Metals moves towards an updated resource and development milestones, the Wagtail deposit’s high-grade continuity and extension potential position it as a promising near-term production target.

Questions in the middle?

• How will the updated resource estimate impact the overall valuation of the Mt Fisher–Mt Eureka Project?
• What timelines are anticipated for permitting and potential production commencement at Wagtail?
• Could further drilling at Bullock and beyond materially increase the combined resource base?