High-Tech Metals Begins Phase 2 RC Drilling at Mt Fisher and Wagtail, Targeting ~3,000m Program

Sonal Goyal

11 November 2026 12:32 PM AEDT

High-Tech Metals Begins Phase 2 RC Drilling at Mt Fisher and Wagtail, Targeting ~3,000m Program

Image Source: Krish Capital Pty Ltd

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High-Tech Metals Ltd (ASX:HTM) has commenced Phase 2 reverse circulation drilling at its 100%-owned Mt Fisher and Wagtail Gold Projects in Western Australia's Northern Goldfields, with a program totalling approximately 3,000 metres of extensional and infill drilling across both projects.

Key Points

Phase 2 RC drilling is underway at Mt Fisher (~2,500m) and Wagtail (~500m) in Western Australia's Northern Goldfields
Mt Fisher has an existing Mineral Resource of 800,000t at 2.0 g/t Au for 51,000oz; Wagtail holds 105,000t at 3.8 g/t Au for 13,000oz
First assays from Mt Fisher drilling are expected within the next 3–4 weeks
Upon completion at Mt Fisher, the rig will mobilise to Damsel for a planned RC program of up to 7,500m targeting HTM's largest deposit of 1.40Mt at 1.66 g/t Au for 75,000oz
HTM holds approximately A$8.9 million in cash and a total group Mineral Resource of 202,000oz (3.9Mt at 1.61 g/t Au)

Mt Fisher Phase 2 Drilling Targets and Program Details

At Mt Fisher, the approximately 2,500-metre component of the Phase 2 program is designed to target northern extensions beyond the current resource, down-plunge extensions beneath the historical pit, interpreted higher-grade shoots, and infill of Inferred Resources to support conversion to Indicated. The program builds on Phase 1 results that included intercepts of 12m at 2.30 g/t Au from 171m, including 5m at 4.95 g/t Au (26MFRC010), and 13m at 1.54 g/t Au from 192m, including 5m at 3.38 g/t Au from 194m (26MFRC017). Mineralisation at Mt Fisher remains open to the north and down plunge beneath the historical pit.

Wagtail High-Grade Resource Extension and Infill Drilling

Approximately 500 metres of RC drilling is planned at Wagtail to test extensions to, and infill, the high-grade Mineral Resource of 105,000 tonnes at 3.8 g/t Au for 13,000 ounces, of which approximately 73% is classified as Indicated. The Wagtail Resource remains open down plunge beneath the historic workings and along strike to the north and south. Previous HTM drilling at Wagtail returned intercepts including 5m at 44.41 g/t Au from 25m, including 1m at 220.8 g/t Au (25WTRC010), and 10m at 10.37 g/t Au from 81m, including 1m at 92.15 g/t Au (26WTRC004).

Metallurgical Testwork and Planned Damsel RC Program

Metallurgical testwork on Mt Fisher primary mineralisation and stockpile material is ongoing following a binding Ore Purchase Agreement signed with Forrestania Resources Limited (ASX: FRS) in October 2026, establishing a potential processing pathway for eligible material through existing processing infrastructure. HTM has not estimated an Ore Reserve for the Mt Fisher Gold Project and has not made a decision to mine. Following completion of the Mt Fisher program, the rig will mobilise to Damsel, where up to 7,500 metres of RC drilling is planned across HTM's largest deposit, which carries a Mineral Resource of 1.40Mt at 1.66 g/t Au for 75,000 ounces.

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