High-Tech Metals Limited (ASX: HTM) has announced it has secured regulatory approvals for both a Program of Work (POW) and a Small Mining Operation (SMO) at its Mt Fisher Project in Western Australia. High-Tech Metals is focused on exploration and development of its portfolio of Australian mineral projects. The approvals facilitate exploration and small-scale mining activities targeting historical stockpiles on the granted Mining Lease M53/127.
The approvals are based around an Exploration Target of 144,000 to 195,000 tonnes grading between 0.80g/t and 1.20g/t Au. The company notes that the potential quantity and grade of the Exploration Target is conceptual in nature and that there has been insufficient work to estimate a Mineral Resource. It remains uncertain if further work will result in the estimation of a Mineral Resource. HTM recently signed a mining profit share joint venture with SSH Mining, a subsidiary of ASX-listed SSH Group Ltd (ASX:SSH), to drill, evaluate, process, and sell historic stockpiled gold ore at the Mt Fisher Gold Project.
Charles Thomas, Non-Executive Chairman of High-Tech Metals, stated that the approvals mark a significant milestone for the company, demonstrating a commitment to responsibly advancing the Mt Fisher Project while pursuing near-term cashflow opportunities from the existing stockpile. He added that the approvals are part of a broader strategy to unlock value from underutilised assets, which will then support future exploration activities. SSH is currently in discussions with nearby processing plants for a potential toll processing arrangement.
Next steps for the project include RC drilling of the stockpiles to confirm in-situ gold grades and support a maiden Mineral Resource Estimate. Metallurgical testing will also run on-site concurrently with grade control drilling. A decision on Project commencement is expected following completion of drilling and test work in Q3 2025, with further updates to be provided as regulatory approvals are progressed and mining readiness activities advance. The company anticipates an early cash flow opportunity, with free-carried profit share terms delivering 85% to HTM and 15% to SSH Mining from net proceeds.
