High-Tech Metals Advances Mt Fisher and Wagtail with Strong Drilling and Metallurgical Results

Drilling Program Uncovers Potential Resource Upside at Mt Fisher

High-Tech Metals Ltd (ASX:HTM) has wrapped up a 6,038-metre reverse circulation (RC) drilling campaign at its Mt Fisher gold project, marking a key step in its strategy to expand the current 35,000-ounce JORC resource. The program, comprising 41 holes, targeted extensions and high-grade shoots beyond the known mineral resource footprint, which currently covers only about 600 metres of a mineralised contact that extends over 7.2 kilometres.

Early assay results from the first 17 holes revealed multiple significant gold intersections, including 12 metres at 2.30 grams per tonne (g/t) gold and 13 metres at 1.54 g/t gold, with higher-grade intervals within these intercepts. With assays for the remaining 24 holes, particularly those testing northern extensions, still pending, the company anticipates further confirmation of its resource growth thesis. This initial phase forms part of a broader growth strategy, with Phase Two drilling set to commence in mid-August, potentially incorporating diamond drilling to test down-plunge continuity.

Wagtail Metallurgy Supports Near-Term Production Prospects

Complementing the drilling success, metallurgical testwork at the Wagtail deposit, located within a granted mining lease, has delivered exceptional results. Conducted on a master composite sample from recent drilling, the program showed gold recoveries up to 97.2%, confirming free-milling, non-refractory mineralisation amenable to conventional gravity and cyanide processing methods.

Key highlights include rapid leach kinetics with most gold extracted within eight hours, low reagent consumption, and a substantial proportion (approximately 45%) of gravity recoverable gold. The clean mineralisation profile, free from preg-robbing and deleterious elements, suggests processing at coarser grind sizes may be feasible, potentially improving mill throughput and lowering operating costs.

An updated Mineral Resource Estimate for Wagtail is expected early in the September quarter, feeding into a scoping study nearing completion. Development studies, including mine design, permitting, and scheduling, are progressing in partnership with SSH Mining, which is funding pre-development work under an existing mining agreement. Concurrently, toll-treatment assessments with Wiluna Mining continue under a non-binding memorandum of understanding, aiming to leverage nearby processing infrastructure.

Broader Project Pipeline and Corporate Positioning

Beyond Mt Fisher and Wagtail, High-Tech Metals holds a commanding 1,150 square kilometre landholding across the Mt Fisher and Mt Eureka projects in Western Australia's Northern Goldfields. The Mt Eureka joint venture, where the company holds a 75% interest, remains a key exploration pipeline with multiple advanced prospects under technical review and prioritisation for drill readiness.

Financially, High-Tech Metals enters the September quarter with a robust cash position of approximately $9.8 million, bolstered by option exercises earlier in the year. This funding supports ongoing drilling, resource growth initiatives, and development activities across its portfolio. The company continues to focus on advancing near-term production opportunities while systematically building scale through exploration.