High-Tech Metals (ASX:HTM) has evaluated historical mining records and results from low-grade stockpiles at the Mt Fisher Mine in Western Australia, which represent a “quick gain” to fund exploration across its projects.
To determine properties of the low-grade stockpiles, the company is planning to conduct reverse circulation drilling and subsequent metallurgical testwork in Q2 2025.
A maiden resource estimate of the stockpiles is planned in early Q3 2025.
An exploration target for the stockpiles is estimated as 155,000 to 175,000 tonnes @ 0.90% to 1.10 grams per tonne gold, exclusive of the existing resource of 3.52 million tonnes @ 1.65g/t gold for 187,000 ounces of gold.
The company notes grade estimates of stockpiles cannot be based on surface sampling and it is uncertain if further work will result in the estimation of a resource.
CEO Warren Thorne says more work needs to be completed to confirm the grades and ore properties.
“In parallel, High-Tech Metals is working closely with several mining contractors to find a processing solution for the ore.”
In 1987, Sundowner Minerals began open-cut mining operations at Mt Fisher, which produced 30,000 ounces of gold @ 4.3 grams per tonne gold. In 1988, operations ceased and low grade ores were dumped in a series of stockpiles that surround the historical open pits.
High-Tech Metals is focused on critical minerals needed for a broad range of products, including batteries, electronics, superalloys, and hard metals.
Write to Aaliyah Rogan at Mining.com.au
Images: High-Tech Metals
