Key Highlights

  • Phase 2 RC drilling of about 3,000m is under way, with 2,500m at Mt Fisher and 500m at Wagtail.
  • Mt Fisher has a 51,000oz resource at 2.0 g/t, and Wagtail has a 13,000oz resource at 3.8 g/t.
  • Phase 1 drilling at Mt Fisher returned 12m at 2.30 g/t gold from 171m, including 5m at 4.95 g/t.
  • After Mt Fisher, the rig moves to Damsel, where a program of up to 7,500m of RC drilling is planned.

High-Tech Metals Ltd (ASX:HTM) has started Phase 2 Reverse Circulation Drilling at its 100% owned Mt Fisher and Wagtail Gold Projects in Western Australia’s Northern Goldfields. The announcement dated 11 November 2026 describes about 3,000m of extensional and infill drilling designed to grow the resource base and improve confidence in the existing estimates.

The drilling targets at Mt Fisher and Wagtail

At Mt Fisher, about 2,500m will target northern extensions and down-plunge extensions beneath the historical pit, along with interpreted higher-grade shoots. The company is building on a 51,000oz resource of 800,000t at 2.0 g/t gold. Phase 1 drilling extended mineralisation below the historical pit, including 12m at 2.30 g/t from 171m, with 5m at 4.95 g/t within it.

At Wagtail, about 500m will test extensions to, and infill, a high-grade 13,000oz resource of 105,000t at 3.8 g/t gold. Earlier drilling returned very high grades in narrow sections, including 1m at 220.8 g/t gold within a 5m interval.

Processing and the Mt Fisher stockpile

Metallurgical testwork on Mt Fisher primary mineralisation and stockpile material is ongoing, following a binding Ore Purchase Agreement with Forrestania Resources. The company said this work will inform how the material can be processed.

The company said it holds about A$8.9 million in cash and an established resource of 202,000oz of gold, at 3.9Mt at 1.61 g/t, across a 1,150km² district.

The rig schedule and what is still to be tested

When the Mt Fisher program is complete, the rig will move to Damsel, where the company reports a resource of 1.40Mt at 1.66 g/t gold for 75,000oz. A second rig will operate alongside, as part of a planned RC program of up to 7,500m.

The very high grades at Wagtail come from narrow intervals and do not indicate the average grade of the resource. The Phase 2 results will show whether the extensions and infill confirm the current resource.

Final Word

High-Tech Metals is expanding its resource base at Mt Fisher and Wagtail while preparing for the larger Damsel program. The Phase 2 assays, the metallurgical results on the stockpile and the resource update will show whether the current estimates can be increased.