High-Tech Metals has wrapped up a 41-hole drilling campaign at Mt Fisher, confirming mineralisation continuity beneath the historical pit and defining clear targets for further resource growth. An updated Mineral Resource Estimate and pit optimisation are due in August, setting the stage for Phase 2 drilling.
- 41-hole, 6,038m Phase 1 RC drilling completed
- Mineralisation confirmed beneath historical pit and northern extensions
- Multiple significant gold intercepts including 12m at 2.30g/t Au
- Updated Mineral Resource Estimate and pit optimisation expected August
- Phase 2 drilling to start mid-August targeting down-plunge and northern zones
Phase 1 Drilling Validates Resource Growth Potential
High-Tech Metals Ltd (ASX:HTM) has delivered a pivotal update on its Mt Fisher Gold Project in Western Australia, completing a 41-hole, 6,038-metre reverse circulation (RC) drilling program that sharpens the geological model and confirms mineralisation continuity beneath the historical pit and beyond the current resource boundary. This milestone sets the foundation for an updated Mineral Resource Estimate (MRE) and pit optimisation, both due in August 2026.
The Phase 1 program, designed to boost confidence in the existing 35,000-ounce resource and explore extensions, returned multiple broad gold intersections. Noteworthy results include 12 metres at 2.30 grams per tonne (g/t) gold from 171 metres downhole, featuring a higher-grade 5-metre interval at 4.95 g/t Au, as well as 13 metres at 1.54 g/t Au and 5 metres at 3.35 g/t Au in other holes. These assays confirm that the mineralised system remains open at depth beneath the historical pit and extends northwards, providing clear targets for the upcoming Phase 2 drilling campaign scheduled for mid-August.
Geological Model Refined and Resource Confidence Enhanced
The drilling has delivered the most detailed understanding to date of the Mt Fisher deposit’s geometry and mineralisation continuity. Drilling intersected the targeted mineralised sedimentary horizon consistently across the existing resource area and into northern extensions, confirming the principal mineralised structure extends beyond the current resource envelope.
Importantly, the program has validated the interpretation that mineralisation continues down-plunge beneath the historical pit, a key priority target for Phase 2. The strongest mineralised intervals were found in this zone, reinforcing the potential for resource growth and underpinning the forthcoming updated geological model and MRE.
Updated Resource and Pit Optimisation to Guide Development
With drilling complete and assays in hand, High-Tech has commenced pit optimisation studies using the revised geological model and current economic parameters, including prevailing gold prices. The updated pit shell and resource model will inform an updated JORC (2012) Mineral Resource Estimate expected next month.
This technical work will provide the basis for assessing development opportunities at Mt Fisher and prioritising future drilling. The company’s broader strategy aims to systematically advance the project from resource confidence to growth, leveraging a 7-kilometre mineralised corridor with substantial exploration upside.
Phase 2 Drilling Targets Defined for Mid-August
Building on Phase 1 outcomes, the planned Phase 2 RC drilling will focus on down-plunge extensions beneath the historical pit, northern extensions beyond the current resource, and interpreted higher-grade shoots. This next stage aims to expand the resource base and refine the geological understanding further.
High-Tech Metals’ CEO James Merrillees emphasised the significance of the completed program: "This program has delivered exactly what we set out to achieve by improving our understanding of the geological controls on mineralisation and providing the information required to update both the geological model and Mineral Resource Estimate."
Alongside Mt Fisher, the company continues advancing its wider portfolio, including the Mt Eureka and Wagtail projects, positioning itself for a steady stream of technical and development milestones in the coming months.
Bottom Line?
Investors should watch for the updated Mineral Resource Estimate and pit optimisation in August, which will clarify Mt Fisher’s economic potential and guide the next phase of resource expansion.
Questions in the middle?
- How will the updated Mineral Resource Estimate impact Mt Fisher’s overall resource size and grade?
- What economic assumptions will underpin the updated pit optimisation and how might they affect project viability?
- To what extent can Phase 2 drilling expand high-grade zones and influence development timelines?