High-Tech Metals Confirms Free-Milling Gold Recoveries Up to 97.2% at Wagtail Deposit

Exceptional Metallurgical Performance Validates Wagtail's Processing Potential

High-Tech Metals Ltd (ASX:HTM) has delivered metallurgical test results that confirm the Wagtail Gold Deposit at its Mt Fisher project as a free-milling, high-grade gold system capable of excellent recoveries. The highlight is an overall gold extraction rate peaking at 98.7%, equating to approximately 97.2% recovery, achieved through conventional gravity and cyanide leach processing.

The tests reveal rapid leach kinetics, with essentially all cyanide-soluble gold extracted within eight hours, and low consumption of both cyanide and lime reagents across all grind sizes tested. Notably, the deposit shows limited sensitivity to grind size, maintaining high gold recoveries from coarser P80 180µm down to finer 75µm, suggesting potential for processing at coarser grind sizes. This flexibility could translate into improved mill throughput and reduced operating costs, a significant consideration for project economics.

Drilling Advances Support Resource Expansion and Development Studies

RC drilling at Mt Fisher is progressing steadily, with 17 holes completed for 3,068 metres out of a planned 5,000-metre program. The drilling targets extensions to the existing mineralisation, aiming to expand the current Mineral Resource Estimate of 464kt at 2.32g/t Au for 35,000 ounces. Assay results from the recent drilling are expected within weeks, which could provide critical data to underpin the updated resource estimate due mid-June 2026.

These metallurgical and drilling efforts are integral to ongoing mining, toll-treatment, and development studies conducted in partnership with SSH Group. The results so far bolster confidence in the broader Mt Fisher development strategy, combining strong gold recoveries with high-grade mineralisation and existing mining leases to position the project for near-term production potential.

Clean Ore Characteristics and Processing Advantages

The Wagtail ore is notably free of deleterious elements and hazardous materials, including the absence of asbestiform fibres and naturally occurring radioactive material. Gravity recoverable gold averages around 45%, indicating a substantial portion of gold can be recovered before cyanidation, enhancing processing efficiency.

Testwork also confirmed no preg-robbing or preg-borrowing effects, and no issues with mixing, filtration, or settling during processing using site water. The leach residue is classified as non-acid forming, which mitigates environmental risks associated with acid mine drainage.

Strategic Positioning in a Proven Gold Province

High-Tech Metals’ Mt Fisher and Mt Eureka projects collectively cover a commanding 1,150 km² in the Yilgarn Craton, one of the world’s most prolific gold provinces. The projects benefit from secure tenure and a mining-friendly jurisdiction, with no known impediments to land access.

The company’s strategy focuses on rapidly advancing near-term production opportunities on existing mining leases to establish early cash flow, which will support further exploration targeting world-class gold discoveries in this under-explored greenstone belt.

With the metallurgical results confirming the deposit’s amenability to conventional processing and ongoing drilling set to refine the resource, High-Tech Metals is steadily advancing Mt Fisher toward a potential production scenario.