High-Tech Metals (ASX:HTM) is targeting a potential Wagtail-style gold discovery at its untested Bullock prospect while accelerating financial and development studies to fast-track near-term production at its Wagtail and Damsel deposits.
The Bullock prospect, located immediately north of the high-grade Wagtail deposit on the same active mining lease, exhibits identical geological characteristics, including iron-rich quartz veining, sulphide pseudomorphs and high-grade gold mineralisation at surface, with rock-chip assays returning up to 14.2 g/t gold.
Historical sampling on the Wagtail licence reported average grades exceeding 12 g/t gold across 40 samples, with peak results of 73.8 g/t gold, reinforcing the prospectivity of the shared structural corridor that hosts both targets.
In parallel with exploration efforts, HTM and its mining partner SSH Mining have commenced desktop-level financial and development studies aimed at advancing Wagtail toward production, with a scoping study planned immediately after the current infill drilling program.
Drilling is also being planned at the Damsel deposit to rapidly progress it toward mining lease status, positioning it as a second near-term development opportunity.
The company said its strategy focuses on unlocking near-mine discovery upside at Bullock while building a multi-deposit production pipeline anchored by Wagtail and Damsel.