High-Tech Metals Ltd has wrapped up a 41-hole reverse circulation drilling program at its Mt Fisher gold project, with assays pending. Early sampling of a carbonaceous stockpile revealed gold grades up to 20.1 g/t, prompting further bulk sampling and metallurgical testwork to evaluate economic potential.
- 41-hole, 6,038m RC drilling program completed at Mt Fisher
- Preliminary sampling of carbonaceous stockpile shows gold up to 20.1 g/t
- Bulk sampling and metallurgical testwork underway on stockpile material
- Trial RC drilling on low-grade stockpiles faced technical challenges
- Assay results expected within 4–5 weeks to inform resource growth
Completion of Substantial Drilling Campaign at Mt Fisher
High-Tech Metals Ltd (ASX:HTM) has completed a significant reverse circulation (RC) drilling program at its Mt Fisher gold project, delivering 41 holes totalling 6,038 metres within the Mining Lease M53/127. The program targeted extensions to the existing mineral resource and sought to test the continuity of high-grade shoots identified in a recent geological review. Final samples have been shipped to Perth with assay results expected within the next 4 to 5 weeks.
Encouraging Early Gold Mineralisation in Carbonaceous Stockpile
While awaiting assay results from drilling, preliminary sampling of a carbonaceous stockpile; comprising pyritic shale and chert associated with Mt Fisher’s primary mineralised horizon; has already confirmed the presence of gold mineralisation. Selective surface grab samples returned assays ranging up to 20.1 grams per tonne (g/t) gold, including notable values of 5.55 g/t and 1.76 g/t.
These findings are significant given the stockpile's historical under-evaluation as a potential resource. High-Tech Metals has commenced bulk sampling of approximately 300 kilograms from the stockpile to better understand grade distribution and metallurgical characteristics. This work aims to determine the stockpile's economic viability as a near-term development opportunity.
Challenges in Sampling Low-Grade Stockpiles
The company also trialled RC drilling on low-grade stockpiles to evaluate the method's suitability for grade estimation. However, the unconsolidated nature of the material led to poor hole stability and limited penetration, with most holes reaching only around 2 metres compared to the planned 9–10 metres. Consequently, High-Tech Metals is exploring alternative sampling techniques, such as bulk sampling, to better assess these stockpiles.
Strategic Implications and Next Steps
CEO James Merrillees highlighted the program’s completion as a milestone in the company’s strategy to grow the Mt Fisher resource systematically. The combination of drilling and stockpile evaluation reflects a dual approach to expanding the resource base while unlocking near-term value from existing material.
High-Tech Metals plans to release assay results as they come to hand and will continue metallurgical testwork on bulk samples. The company is also assessing alternative sampling methodologies for low-grade stockpiles and will pursue ongoing resource growth evaluation at Mt Fisher.
Given the project's location in the Yilgarn Craton; a globally recognised gold province; and the company's recent exploration activities, including metallurgical successes at the nearby Wagtail deposit, these developments position High-Tech Metals for potential resource expansion and economic advancement in the coming months.
Bottom Line?
Assay results from the completed drilling and bulk sampling will be pivotal in defining Mt Fisher’s resource growth and near-term development potential.
Questions in the middle?
- Will bulk sampling confirm economically viable grades across the carbonaceous stockpile?
- What alternative sampling methods will prove effective for the challenging low-grade stockpiles?
- How will the pending assay results impact the current Mt Fisher resource model and development timeline?