High-Tech Metals (ASX:HTM) has reported multiple ‘significant’ gold intersections from the first 17 holes of its previously-reported 41-hole reverse circulation drilling program at the Mt Fisher Gold Project in Western Australia.
The company has received initial assay results for 17 holes completed in the 6,038m program, with assays from the remaining 24 holes expected over the coming weeks.
Significant intercepts from the first batch of assays include:
- 13m @ 1.54 grams per tonne gold (Au) from 192m, including 5m @ 3.38g/t Au from 194m
- 12m @ 2.30g/t Au from 171m, including 5m @ 4.95g/t Au from 171m
- 10m @ 1.35g/t Au from 152m, including 3m @ 3.31g/t Au from 156m
- 6m @ 1.40g/t Au from 146m, including 3m @ 2.13g/t Au from 148m
- 2m @ 5.49g/t Au from 181m
The company says the drilling represents the first major milestone in its efforts to expand mineral resources and advance near-term development opportunities at the project.
CEO James Merrillees says the consistency of mineralisation across the first batch of assays is “encouraging”, with multiple gold intersections returned within the existing mineralised system.
“These results support our evolving geological and structural model, particularly the continuity of mineralised sediment horizons and the presence of higher-grade shoots within the Mt Fisher system,” Merrillees says.
Mt Fisher hosts a mineral resource estimate (MRE) of 464,000 tonnes grading 2.32g/t Au for 35,000 ounces of gold, defined over approximately 600m of strike.
Gold mineralisation at the site is predominantly associated with sulphide-rich zones, particularly pyrite with minor pyrrhotite, alongside quartz veining developed within sedimentary units.
Alongside the release of the assays from the remaining holes, High-Tech Metals intends to conduct metallurgical testwork, as well as anticipates an updated Wagtail MRE.
The company also expects to complete the Wagtail Scoping Study within approximately four to five weeks and plans to commence phase two growth drilling in mid-August, with diamond drilling under consideration.
Meanwhile, reconnaissance fieldwork is planned across the broader project area, including the Dam-Damsel trend, which hosts a mineral resource of approximately 75,000 ounces of gold.
High-Tech Metals is a gold explorer and developer advancing its portfolio in Western Australia.
Write to Paula Fabe at Mining.com.au
Images: Unsplash
