High-Tech Metals (ASX:HTM) has expedited the start of financial studies that will bring the Wagtail and Damsel deposits into production as the company targets a repeat of the Wagtail gold system at the Bullock prospect.
Bullock sits on an active mining lease and has an untested, quartz-vein system and is located to the north of the Wagtail deposit. Surface rock chip assays up to 14.2 grams per tonne gold have been collected by High-Tech Metals.
Commenting on Bullock, Chief Executive Officer James Merrillees says that it “represents the type of opportunity we are targeting, a zone of high-grade gold mineralisation located adjacent to an existing high-grade resource and within the same mining lease”.
The company is progressing Wagtail and Damsel toward production and Merrillees notes that “drilling at Wagtail is about to commence, financial and development studies are being advanced, and planning is in place to progress Damsel”.
SSH Mining has begun financial and development studies to fast-track Wagtail into production and is due to commence a scoping study following the completion of the current infill drilling program.
The company plans to drill at the Damsel deposit as well, with the objective of moving the project toward mining lease status, positioning the deposit as a near-term development opportunity.
High-Tech Metals is a gold explorer, positioning the Wagtail and Damsel deposits at the Mt Fisher Project in the Northern Goldfields into production.
Write to Amy Rotman at Mining.com.au
Images: High-Tech Metals
