High-Tech Metals has kicked off a 5,000-metre drilling campaign at its Mt Fisher gold project to unlock significant resource expansion potential. An independent review revealed that less than 60% of known mineralised intercepts are included in the current resource, highlighting substantial upside.
- 5,000m RC drilling underway targeting resource extensions
- Only 42 of 79 historical high-grade intercepts included in current resource
- Mineralised system extends over 7.2km with less than 10% tested
- Historical open pit produced ~30koz at 4.4g/t Au, above current resource grade
- Drilling aims to close gap between known mineralisation and resource model
Significant Under-Exploration at Mt Fisher
High-Tech Metals Ltd (ASX:HTM) has launched a ~5,000-metre reverse circulation (RC) drilling program at its Mt Fisher gold project in Western Australia, aiming to materially expand its current JORC (2012) Mineral Resource Estimate (MRE) of 35,000 ounces at 2.32 grams per tonne (g/t) gold. The program targets high-grade shoots and resource extensions beyond the current resource footprint, which covers only a fraction of the known mineralised system.
An independent geological review by Muller Geological Consulting (MGSC) earlier this year uncovered 79 historical mineralised intercepts exceeding 0.5 g/t Au within the Mt Fisher system. Yet, only 42 of these intercepts; less than 60%; have been incorporated into the existing resource model. This discrepancy is not due to poor grades or geological complexity but reflects limited systematic drilling and a conservative modelling approach in previous assessments.
Extensive Mineralisation Beyond Current Resource Limits
The current resource envelope spans approximately 600 metres along strike and 130 metres across, constrained by historical drilling coverage. However, the mineralised contact hosting gold extends over 7.2 kilometres, with less than 10% of this prospective strike systematically tested to date. The MGSC review confirms that mineralisation remains open to the north, south, and at depth beyond the resource boundaries, presenting a sizeable exploration opportunity.
Historical open pit mining at Mt Fisher produced around 30,000 ounces at an average grade of 4.4 g/t Au, significantly higher than the current resource average, underscoring the potential for high-grade zones outside the existing resource. Notable shallow, high-grade intercepts outside the resource include 9 metres at 3.77 g/t Au from 219 metres and 3 metres at 2.59 g/t Au from 85 metres, among others.
Drilling Program Targets Resource Growth and Confidence
High-Tech Metals’ current drilling campaign is designed to close the gap between known mineralisation and the resource model by testing extensions north, south, and down dip of the existing resource. The program also aims to delineate high-grade shoots identified in the MGSC review and improve resource confidence through infill drilling where coverage is sparse.
This initiative marks the first stage of a broader, systematic growth strategy at Mt Fisher, with potential follow-up phases planned to test the full extent of the 7-kilometre mineralised corridor as results come in. Assay results will be reported progressively, providing the market with ongoing updates.
HTM’s dual-track approach balances near-term production development at the nearby Wagtail project, which hosts a high-grade resource of 14,600 ounces at 7.11 g/t Au, with longer-term resource growth ambitions at Mt Fisher. The recent announcement builds on the company’s earlier plans to expand Mt Fisher’s resource, reflecting a clear pathway to unlocking significant value through exploration. This follows the company's earlier 5,000m Reverse Circulation drilling program ready to start and the independent review confirming multiple high-grade intercepts beyond current resource limits##(8c012bbd-83c7-47bb-9059-4f855cc73e43).
Strategic Positioning in the Yilgarn Craton
Mt Fisher and the adjacent Mt Eureka project collectively provide High-Tech Metals with a commanding 1,150 square kilometre landholding in the heart of Western Australia’s prolific Yilgarn Craton. The projects benefit from secure tenure and a mining-friendly jurisdiction, setting a strong foundation for future development and exploration success.
CEO James Merrillees emphasised the clear opportunity: “We have 79 individual significant intercepts within the system, many of them high-grade, yet only 42 are in the current Resource. That’s not a geological limitation; that’s a drilling and modelling gap. That is what our current drilling program is designed to address, and we look forward to reporting results as they become available.”
Bottom Line?
Mt Fisher’s under-explored gold system offers a tangible near-term catalyst as drilling results emerge, but the scale and timing of resource upgrades remain to be seen.
Questions in the middle?
- Will the drilling confirm continuity of high-grade shoots beyond current resource limits?
- How quickly can resource upgrades translate into development or production plans?
- Could broader testing of the 7.2km mineralised corridor reveal a significantly larger resource footprint?