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- 41-hole, 6,038m RC program completed
- Final assays expected within four to five weeks
- Preliminary sampling of stockpile confirms presence of gold
- Follow-up bulk sampling and metallurgical testwork underway
High-Tech Metals (ASX:HTM) is set to undertake further examination of the Mt Fisher project stockpile in WA after preliminary sampling confirmed the presence of gold mineralisation, with assays ranging up to 20.1 grams per tonne (g/t).
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The company will now carry out follow-up bulk sampling and metallurgical testwork to assess the stockpile’s grade distribution and economic potential.
The sampling of the stockpile comes at the same time as the company was wrapping up the Mt Fisher RC drilling program of 41 RC holes for 6,038m.
The program was designed to target extensions to the current Mt Fisher mineral resource and test high-grade shoot continuity identified during the recent independent geological review.
Final samples from the drilling program have been transported to Perth for assay and analysis, with results to be received within four to five weeks.
“Completion of this program marks an important milestone in our strategy to systematically grow the Mt Fisher Resource and unlock the broader potential of the mineralised system,” CEO, James Merrillees, said,
“While we await the assay results, we are encouraged by the successful completion of the program and by the early indications from sampling of the carbonaceous stockpile, which has returned several high-grade gold assays including 20.1 g/t Au.
“The carbonaceous material represents the primary mineralised horizon at Mt Fisher and has historically received limited evaluation as a potential source of recoverable gold. Additional bulk sampling is now underway to better understand both grade distribution and metallurgical characteristics.
“With all drilling complete and final samples now in Perth, we look forward to reporting the assay results over the coming weeks.”
The stockpile comprises pyritic carbonaceous shale and pyritic chert, representing some of the host lithologies associated with gold mineralisation at Mt Fisher. The material is interpreted to have been mined and stockpiled during historical operations.
Ten surface grab samples were collected across the stockpile and submitted for gold analysis. Results returned gold values ranging from around 0.01 to 20.1 g/t.
HTM is steady 25.0¢. Mkt cap $26.31M.
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