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TRANSFORMATIONAL ACQUISITION OF MT FISHER & MT EUREKA GOLD PROJECTS WITH 187KOZ GOLD RESOURCE & ACTIVE MINING LEASES
HIGHLIGHTS
• High-Tech has executed a binding agreement to acquire 100% of the Mt Fisher Gold Project and 51% of the Mt Eureka Gold Project from Rox Resources Limited.
• The former gold producing Projects host a combined existing JORC Mineral Resource Estimate of 3.52 Mt @ 1.65 g/t Au for 187,000oz gold, with 88,000oz in the Measured & Indicated classification
• The acquisition delivers HTM a significant landholding of 1,150km2 in a premier Western Australian gold province, covering much of the underexplored Mt Fisher greenstone belt and contains current granted Mining Leases.
• Imminent RC drill testing of several walk-up historic intercepts including:
o 9m @ 34.34 g/t Au from 67m, including 4m @ 74.25 g/t Au (Mt Fisher)
o 13m @ 4.41 g/t Au from 80m, including 3m @ 11.13 g/t Au (Mt Fisher)
o 5m @ 41.13 g/t Au from 45m, including 3m @ 67.94 g/t Au (Wagtail)
o 3m @ 55.14 g/t Au from 47m, including 2m @ 81.6 g/t Au (Wagtail)
o 11m @ 2.70 g/t Au from 40m, including 4m @ 6.0 g/t Au (Damsel)
o 18m @ 6.99 g/t Au from 69m, including 10m @ 10.27 g/t Au (Damsel)
o 13m @ 6.81 g/t Au from 45m, including 9m @ 8.89 g/t Au (Southern)
o 20m @ 2.28 g/t Au from 100m, including 2m @ 9.85 g/t Au (Taipan)
• The Company will assess the production and restart potential at the Mt Fisher Gold Mine, a former producing gold mine (30,000 ounces of gold @ 4.3 g/t Au) with a remaining resource of 464kt @ 2.32g/t Au for 34,700oz.
• The Wagtail deposit (historical production of 2,384oz @ 66 g/t Au) is on an active mining lease and holds significant grade within the existing resource of 63,700 @ 7.11g/t Au for 14,600oz.
• The Company will immediately engage mining consultants and mine engineers to run pit optimisations across near surface shallow oxide pits that may be amendable to profitable gold mining operations and production.
• A review of the substantial exploration upside that exists for mineralisation below and along strike from existing shallow open pits is currently being conducted and the Company will update the market regarding new drill targets.
• High-Tech plans to commence 15,000 metres of Aircore, Reverse Circulation and Diamond Core exploration and resource extension drilling campaigns immediately after completion of the acquisition.
• The Company welcomes Rox Resources Ltd as a shareholder and advises an additional 5,546,650 existing shares held by major shareholders have been placed in voluntary escrow for 12 months, representing ~17% of the tradeable shares pre-placement that are escrowed for a further 12 months.
