High-Tech Metals (ASX:HTM) evaluated the historic mining records and exploration results from historic low-grade stockpiles at the Mt. Fisher gold mine in Western Australia, according to a Friday Australian bourse filing.
Its chief executive Warren Thorne, said the stockpiles at Mt. Fisher potentially represent a quick gain to fund exploration across the firm's projects.
An exploration target for the stockpiles is estimated at 155,000 tonnes to 175,000 tonnes at 0.90% to 1.10 grams-per-tonne grade of gold, outside of the existing resource of 3.52 million tonnes at 1.65 g/t grade of gold for 187,000 ounces of gold.
The firm plans to conduct reverse circulation drilling on the stockpiles as well as metallurgical tests in the second quarter. It will release a mineral resource estimate for the stockpiles in the third quarter.
Its shares jumped 11% in recent trading on Friday.
Price (AUD): $0.25, Change: $+0.025, Percent Change: +11.11%
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