High-Tech Metals (ASX:HTM) has disclosed plans for a Reverse Circulation drilling program of up to 7,500 metres at the Damsel Gold Deposit within its 100%-owned Mt Fisher Gold Project in Western Australia, targeting extensions to the existing 75,000 ounce Mineral Resource along a broader mineralised belt.

Key Points

  • Up to 7,500m of RC drilling planned at the Damsel deposit, with the program expected to commence in November 2026, subject to final heritage approvals
  • Damsel hosts a Mineral Resource of 1.40Mt at 1.66 g/t Au for 75,000oz, covering approximately 700m of strike and 200m of width within a broader mineralised belt
  • The company holds approximately A$8.9 million in cash and a ~1,150km² tenement package with a total gold resource of approximately 202,000oz across Mt Fisher, Damsel, Wagtail and Mt Eureka
  • A second drilling rig is planned to be added later in November to increase drilling capacity
  • A comprehensive geological and operational review is underway at the Mt Fisher Project following the appointment of a new Board and technical team

Damsel Mineral Resource and Deposit Geology

The Damsel Mineral Resource totals 1.40Mt at 1.66 g/t Au for 75,000oz, comprising 726,200 tonnes at 1.87 g/t Au for 44,000oz Indicated and 678,000 tonnes at 1.43 g/t Au for 31,000oz Inferred. The deposit is hosted by north-south striking, strongly foliated basalts intruded by felsic porphyries and dolerite/gabbro. Primary gold mineralisation occurs in stacked, parallel lenses dipping west and plunging moderately north, associated with sheared, silica-sericite-carbonate altered basalt containing pyrite and chalcopyrite. The weathering profile deepens to more than 100 metres to the north, with higher-grade supergene gold concentrated along the upper and lower saprolite interface.

Drilling Program to Target Strike and Down-Dip Extensions

The planned RC drilling program will test strike and down-dip extensions to the existing Damsel resource, alongside selected infill drilling to improve confidence in areas of the deposit. Historical drilling at Damsel returned intersections including 18m at 6.99 g/t Au from 69m, including 9m at 10.92 g/t Au (MFRC081), and 12m at 4.93 g/t Au from 59m, including 1m at 45.63 g/t Au (MFAD153). These intersections remain open down-dip and along strike. The company said results will inform future resource evaluation and help define the scale and continuity of the mineralised system.

Regional Exploration Pipeline Across Two Mineralised Corridors

Beyond the existing Damsel resource, HTM has identified exploration targets across two mineralised corridors: a approximately 5km structure encompassing the Dirks and Durga prospects, and an approximately 12km corridor extending across Dam North, Damsel, Ravanna and Shiva. Historical drilling outside the current resource has returned intersections including 4m at 13.20 g/t Au from 30m at Dam SE, 2m at 13.74 g/t Au from 54m at Dirks, and 17m at 1.30 g/t Au from 58m at Shiva. HTM's review has drawn on historical drilling, structural interpretation, geochemical data, and Gradient Array Induced Polarisation geophysical surveys to identify further opportunities.