High-Tech Metals Limited (ASX: HTM) has completed its acquisition of the Mt Fisher and Mt Eureka Gold Projects from Rox Resources Limited. This acquisition significantly expands HTM’s presence in Western Australia’s Northern Goldfields, providing the company with a 1,150 km² landholding. The acquired projects boast a combined JORC Mineral Resource Estimate of 3.52Mt @ 1.65 g/t Au for 187,000oz of gold, including 88,000oz in the Measured & Indicated classification.
The company is poised to commence a 15,000-meter drilling campaign, encompassing Aircore, Reverse Circulation, and Diamond Core drilling, aimed at resource extension and exploration. Immediate RC drill testing of historic intercepts is planned, with notable intercepts including 9m @ 34.34 g/t Au and 5m @ 41.13 g/t Au. Furthermore, HTM has entered a profit-sharing joint venture with SSH Mining to process and sell historic stockpiled gold mineralization at Mt Fisher.
HTM’s Non-Executive Chairman, Charles Thomas, emphasized the transformational nature of this acquisition, highlighting the strategic positioning to transition from explorer to developer. Previous mining at Mt Fisher yielded 30,000oz of gold between 1987 and 1989. The company plans to conduct a Gradient Array Induced Polarisation survey and RC/Diamond drilling to boost resource confidence. An Exploration Target for stockpiles is estimated at 144,000 to 195,000 tonnes at 0.80% to 1.20 g/t Au.
The consideration for the acquisition included $1,450,000 in cash, 1,000,000 fully paid ordinary shares issued to Rox, and a 1% Net Smelter Return royalty payable to RXL on certain tenements.
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