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High-Tech Metals (ASX: HTM) is waiting on diesel supplies as the company prepares to commence a new drilling campaign at the Mt Fisher gold project in the Northern Goldfields of Western Australia.
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The explorer today told its shareholders it is in “operational readiness”, with drilling expected to commence upon delivery of diesel fuel, noting current supply constraints are impacting parts of Western Australia.
High-Tech has field crews on-site completing drill pad preparation for the approximately 5,000m RC drilling program at the recently acquired project.
The explorer’s chief executive, James Merrillees, said the program represents the execution phase of recent geological review and targeting work and is designed to confirm and materially expand the existing mineral resource and extend high-grade mineralisation beyond current limits.
“We are now operationally ready at Mt Fisher with this program designed to rapidly grow the existing Resource and extend high-grade mineralisation beyond current limits, with the system remaining open in multiple directions.
“Alongside this, the high-grade Wagtail opportunity continues to advance toward development, positioning the company with a clear pathway to near-term production while unlocking the broader potential at Mt Fisher.”
Mr Merrillees said the WA company is confident there is a significant rapid growth opportunity at Mt Fisher, with only 42 of a total of 146 previously identified mineralised intercepts incorporated into the current resource model.
The 5,000 metre reverse circulation drilling program represents stage one of a broader systematic growth strategy at Mt Fisher and will directly test areas identified through the recent geological review.
The initial program will examine extensions to around 200 metres below surface, targeting down-dip continuity with the aim of extending mineralisation along strike to the north and south of the current resource.
Drilling will also target high-grade shoots identified from historical drilling and recent reinterpretation and infill areas of limited drilling density to improve resource confidence.
The recent Mt Fisher work has confirmed that the mineralised system remains open in all directions with limited deeper drilling.
HTM is steady at ~26cps today. Mkt cap $27.37M.
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