High-Tech Metals Ltd (ASX: HTM), an Australian gold exploration and development company focused on a significant gold project portfolio in Western Australia, has announced encouraging early assay results from reverse-circulation (RC) drilling at its Wagtail gold deposit. Wagtail is part of the company’s Mt Fisher-Mt Eureka Project portfolio. The results confirm the continuity of high-grade mineralisation within the existing resource.
Standout intercepts from the drilling program include a bonanza intersection of 1 metre at 171.35 grams per tonne (g/t) of gold within 6 metres at 28.96 g/t of gold. Additional significant intercepts include 8 metres at 1.52 g/t Au from 47 metres, including 1 metre at 9.31 g/t Au. These results validate the grade and continuity of the Wagtail deposit, which hosts a high-grade resource of 63,000 tonnes at 7.11 g/t gold for 14,600 ounces.
Drilling is set to recommence this week to further refine the resource and support mine planning activities. The Wagtail deposit is a quartz vein-hosted gold reef with a history of prior production, yielding 2,384 ounces at 66 g/t gold. The current drilling results reinforce the quality and coarse-gold nature of the existing high-grade resource.
Scoping-level mining and processing studies are progressing, supported by active workstreams including metallurgical testwork, mine design, permitting, and a recently signed toll-treatment MOU with Wiluna Mining. High-Tech Metals confirms that it is not aware of any new information or data that materially affects the Mineral Resource estimate and that all material assumptions and technical parameters underpinning the estimate continue to apply.
