High-Tech Metals is poised to launch a significant 5,000-metre drilling campaign at its Mt Fisher Gold Project, aiming to grow and upgrade its existing gold resource by targeting high-grade zones beyond current boundaries.
- 5,000m Reverse Circulation drilling program ready to start
- Targeting expansion of 35,000-ounce gold resource at 2.32g/t grade
- Focus on high-grade shoots historically yielding ~33,000 ounces at 4.3g/t
- 146 mineralised intercepts identified; only 42 included in current resource
- Metallurgical sampling planned to support future development
Drilling Program Kicks Off at Mt Fisher
High-Tech Metals Ltd (ASX:HTM) is gearing up to commence a ~5,000-metre Reverse Circulation (RC) drilling program at its Mt Fisher Gold Project in Western Australia. The company has completed site preparations and awaits the delivery of diesel fuel to begin drilling operations, which are designed to expand and upgrade the current JORC (2012) Mineral Resource of 464,000 tonnes at 2.32 grams per tonne gold, equating to approximately 35,000 ounces.
Targeting High-Grade Extensions and Resource Growth
The drilling campaign focuses on testing high-grade shoots and extensions beyond the existing resource limits. Historically, the Mt Fisher system produced around 33,000 ounces at an impressive 4.3 grams per tonne, and recent geological reviews have identified 146 mineralised intercepts, with only 42 currently incorporated into the resource model. This discrepancy highlights significant upside potential for resource growth through targeted drilling along strike and down dip.
Strategic Dual-Track Approach
High-Tech Metals is advancing a dual-track strategy, balancing near-term production with longer-term resource expansion. While Mt Fisher is the focus for resource growth and scale, the nearby Wagtail project, with a high-grade resource of 14,600 ounces at 7.11 grams per tonne, is progressing towards near-term production. This approach aims to generate early cash flow while unlocking the broader potential of the Mt Fisher mineralised system.
Supporting Development with Metallurgical Sampling
Alongside resource expansion, the drilling program will collect metallurgical samples to support future development studies. Historical data suggests Mt Fisher’s gold mineralisation is free-milling, associated with quartz veining and sulphide-bearing sediments, which bodes well for conventional gold processing methods. These studies will be crucial in assessing the project’s economic viability as resource growth unfolds.
Outlook and Market Positioning
CEO James Merrillees emphasised the company’s readiness and strategic focus: “This program is designed to rapidly grow the existing resource and extend high-grade mineralisation beyond current limits, with the system remaining open in multiple directions.” As drilling progresses, investors will be watching closely for assay results that could validate the resource’s expansion and underpin High-Tech Metals’ pathway towards production and value creation.
Bottom Line?
Mt Fisher’s drilling results will be pivotal in shaping High-Tech Metals’ growth trajectory and near-term production prospects.
Questions in the middle?
- How quickly will assay results be released and what initial grades can be expected?
- What impact will metallurgical test outcomes have on processing strategies and project economics?
- How will developments at Wagtail influence funding and operational priorities for Mt Fisher?