HTM: Annual Report to Shareholders
Original announcement by asx on
- Company
- High-Tech Metals Limited
- Ticker
- HTM
- Exchange
- ASX
- Region
- Western Australia
- Primary commodity
- Gold
- Secondary commodities
- None reported
- Document categories
- Resource update, Drill results, Metallurgy
- Extracted
- 2026-09-30 07:23:08 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
High-Tech Metals Limited's annual report for FY2026 details significant progress across its gold projects in Western Australia, including positive drill results from Mt Fisher and high-grade intercepts from Wagtail. Metallurgical testwork confirmed free-milling gold and high recoveries for both projects, de-risking future development. The company also updated its Wagtail Mineral Resource Estimate, which underpins ongoing development studies, and strengthened its balance sheet with successful capital raises, ending the year with $9.8 million in cash.
Reasoning: The annual report highlights significant progress in exploration, resource definition, and metallurgical testwork for its gold projects in Western Australia, supported by a strong cash position from recent capital raises, indicating positive momentum towards development. The updated Wagtail MRE and Mt Fisher drill results are key positive developments.
Positive factors
- Strong cash position after successful capital raises
- Positive drill results from Mt Fisher, including high-grade intercepts
- Favorable metallurgical testwork results for both Mt Fisher and Wagtail, confirming free-milling gold and high recoveries
- Updated Wagtail MRE underpins development studies
- Progress towards near-term gold production at Wagtail and Mt Fisher
- Expansion of Mt Eureka ownership
Negative factors
- Continued net loss and cash outflows from operating activities (typical for an exploration company)
- Werner Lake Cobalt Project remains in early stages with no exploration activities yet
Facts used in scoring: 12
Classification and evidence
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: The document explicitly states that the Mineral Resource Estimates are JORC (2012) compliant.
Evidence · text
“JORC (2012) Mineral Resource Estimate”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The report includes Competent Person's Statements for Exploration Results and Mineral Resource Estimates, with named CPs who are members of recognized professional associations.
Evidence · text
“Competent Person’s Statement”
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The document refers to an 'updated Wagtail Gold MRE' and 'updated Mineral Resource Estimate for Mt Fisher was expected in August 2026', indicating revisions to existing estimates.
Evidence · text
“Updated Wagtail Gold MRE Underpins Development Studies”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: Several resource facts are classified as 'Inferred', indicating lower geological confidence.
Evidence · table
“Inferred”
Context: 294,100
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: Several resource facts are classified as 'Indicated', indicating reasonable geological confidence.
Evidence · table
“Indicated”
Context: 129,100
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: One resource fact is classified as 'Measured', indicating the highest level of geological confidence.
Evidence · table
“Measured”
Context: 41,300
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: The drill results are reported by a Competent Person, which implies adherence to QA/QC protocols, and the document states that 'all material assumptions and technical parameters underpinning the Exploration Results... continue to apply'.
Evidence · text
“The Company confirms that it is not aware of any new information or data that materially affects the information included in those original market announcements, and that all material assumptions and technical parameters underpinning the Exploration Results and Mineral Resource Estimates in those announcements continue to apply and have not materially changed.”
Step-Out Extensionpositive
Mineralization extended beyond the previously known limit.
Why it applies: The Mt Fisher drilling program was designed to 'Extend mineralisation north, south and down dip of the current resource'.
Evidence · text
“Extend mineralisation north, south and down dip of the current resource.”
Infill Drillingneutral
Confirmatory drilling to raise resource confidence, not new discovery.
Why it applies: The Mt Fisher drilling program was designed to 'Infill areas of limited drilling density to improve resource confidence'.
Evidence · text
“Infill areas of limited drilling density to improve resource confidence.”
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: Mt Fisher achieved up to 93% gold recovery and Wagtail achieved up to 97.2% gold recovery, which are high for their respective processing routes.
Evidence · text
“combined gravity and cyanide recoveries of up to ~93% achieved”
Free Millingpositive
Simple, clean ore amenable to standard processing without oxidation.
Why it applies: Metallurgical testwork confirmed that Mt Fisher and Wagtail mineralisation is free-milling and non-refractory.
Evidence · text
“Mt Fisher mineralisation is free-milling and non-refractory”
Bench Scale Onlynegative
Only preliminary bench tests completed — no locked-cycle or pilot work.
Why it applies: The metallurgical testwork for Wagtail was completed on a 'master composite sample' and for Mt Fisher on 'historic stockpile material', indicating bench-scale or preliminary testwork rather than pilot scale.
Evidence · text
“completed on a master composite sample generated from recent drilling at Wagtail”
Low Reagent Consumptionpositive · Story-specific tag
No canonical definition is currently available.
Why it applies: Wagtail testwork showed 'low cyanide and lime consumption throughout the test program'.
Evidence · text
“low cyanide and lime consumption throughout the test program”
Rapid Leach Kineticspositive · Story-specific tag
No canonical definition is currently available.
Why it applies: Wagtail testwork showed 'Rapid leach kinetics, with essentially all cyanide-recoverable gold extracted within the first 8 hours'.
Evidence · text
“Rapid leach kinetics, with essentially all cyanide-recoverable gold extracted within the first 8 hours”
Gravity Routeneutral
Gravity separation forms a material part of the flowsheet.
Why it applies: the document describes a gravity route ("gravity")
Single Domain Onlynegative
Testing limited to one composite or domain — representativeness not established.
Why it applies: only one composite was tested
Extracted facts
Stored fact records: 12. Some facts used in scoring do not have a stored record.
Resource Estimates (11)
measuredMt Fisher Project · goldTonnes: 41300Grade: 1.94Grade Unit: g/tContained Metal: 3Contained Unit: kozView all detailsHide details
Identity
- Project
- Mt Fisher Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- HTM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Lynn Widenbar
- Resource group id
- resource:30224faaf58fe7a9dfaa
- Deposit or zone
- Mt Fisher
Resource Data
- Category
- measured
- Tonnes
- 41300
- Grade
- 1.94
- Grade Unit
- g/t
- Contained Metal
- 3
- Contained Unit
- koz
- Cutoff Grade
- 0.5
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-02-26
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: A small Measured resource, part of a larger project, with high confidence but limited scale.
Positive factors
- Resource is in the Measured category, indicating high confidence
- JORC (2012) compliant estimate signed off by a Competent Person
Evidence · table
“1.94”
Context: 41,300
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedMt Fisher Project · goldTonnes: 129100Grade: 1.97Grade Unit: g/tContained Metal: 8Contained Unit: kozView all detailsHide details
Identity
- Project
- Mt Fisher Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- HTM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Lynn Widenbar
- Resource group id
- resource:69a089e1a70845896ee8
- Deposit or zone
- Mt Fisher
Resource Data
- Category
- indicated
- Tonnes
- 129100
- Grade
- 1.97
- Grade Unit
- g/t
- Contained Metal
- 8
- Contained Unit
- koz
- Cutoff Grade
- 0.5
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-02-26
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: A moderate Indicated resource, contributing to the overall project, with good confidence.
Positive factors
- Resource is in the Indicated category, indicating good geological confidence
- JORC (2012) compliant estimate signed off by a Competent Person
Evidence · table
“1.97”
Context: 129,100
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredMt Fisher Project · goldTonnes: 294100Grade: 2.53Grade Unit: g/tContained Metal: 24Contained Unit: kozView all detailsHide details
Identity
- Project
- Mt Fisher Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- HTM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Lynn Widenbar
- Resource group id
- resource:5f97bf9933a3d3d3d714
- Deposit or zone
- Mt Fisher
Resource Data
- Category
- inferred
- Tonnes
- 294100
- Grade
- 2.53
- Grade Unit
- g/t
- Contained Metal
- 24
- Contained Unit
- koz
- Cutoff Grade
- 0.5
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-02-26
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: A moderate Inferred resource with good grade, but lower confidence due to its category.
Positive factors
- Higher grade for an Inferred resource
- JORC (2012) compliant estimate signed off by a Competent Person
Negative factors
- Resource is in the Inferred category, indicating lower geological confidence
Evidence · table
“2.53”
Context: 294,100
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedMt Fisher Project · goldTonnes: 726200Grade: 1.87Grade Unit: g/tContained Metal: 44Contained Unit: kozView all detailsHide details
Identity
- Project
- Mt Fisher Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- HTM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Lynn Widenbar
- Resource group id
- resource:ba4cd407dfad479ef060
- Deposit or zone
- Damsel
Resource Data
- Category
- indicated
- Tonnes
- 726200
- Grade
- 1.87
- Grade Unit
- g/t
- Contained Metal
- 44
- Contained Unit
- koz
- Cutoff Grade
- 0.5
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-02-26
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: A substantial Indicated resource contributing significantly to the project's overall gold endowment.
Positive factors
- Significant Indicated resource tonnage, indicating good geological confidence
- JORC (2012) compliant estimate signed off by a Competent Person
Evidence · table
“1.87”
Context: 726,200
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredMt Fisher Project · goldTonnes: 678000Grade: 1.43Grade Unit: g/tContained Metal: 31Contained Unit: kozView all detailsHide details
Identity
- Project
- Mt Fisher Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- HTM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Lynn Widenbar
- Resource group id
- resource:30b19f84e6f02a2aa379
- Deposit or zone
- Damsel
Resource Data
- Category
- inferred
- Tonnes
- 678000
- Grade
- 1.43
- Grade Unit
- g/t
- Contained Metal
- 31
- Contained Unit
- koz
- Cutoff Grade
- 0.5
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-02-26
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: A large Inferred resource, adding to the project's potential, but with lower confidence.
Positive factors
- Significant Inferred resource tonnage, indicating potential for future growth
- JORC (2012) compliant estimate signed off by a Competent Person
Negative factors
- Resource is in the Inferred category, indicating lower geological confidence
Evidence · table
“1.43”
Context: 678,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedMt Fisher Project · goldTonnes: 77500Grade: 3.9Grade Unit: g/tContained Metal: 9.5Contained Unit: kozView all detailsHide details
Identity
- Project
- Mt Fisher Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- HTM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Jane Coll
- Resource group id
- resource:ac07c3c4cbee500418c8
- Deposit or zone
- Wagtail
Resource Data
- Category
- indicated
- Tonnes
- 77500
- Grade
- 3.9
- Grade Unit
- g/t
- Contained Metal
- 9.5
- Contained Unit
- koz
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-07-27
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: A high-grade Indicated resource with recent updates, providing a robust basis for development studies, despite the dual cut-off.
Positive factors
- High-grade Indicated resource, supporting production potential
- Updated MRE incorporates recent drilling, increasing confidence
- JORC (2012) compliant estimate signed off by an independent Competent Person
Negative factors
- Cut-off grade is dual (0.5 g/t Au for open pit and 1.6 g/t Au for underground), which can complicate direct comparison
Evidence · table
“3.9”
Context: 77,500
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredMt Fisher Project · goldTonnes: 28000Grade: 3.5Grade Unit: g/tContained Metal: 3Contained Unit: kozView all detailsHide details
Identity
- Project
- Mt Fisher Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- HTM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Jane Coll
- Resource group id
- resource:04ae6bad2aabef0091df
- Deposit or zone
- Wagtail
Resource Data
- Category
- inferred
- Tonnes
- 28000
- Grade
- 3.5
- Grade Unit
- g/t
- Contained Metal
- 3
- Contained Unit
- koz
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-07-27
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: A high-grade Inferred resource with potential for growth, but with lower confidence and dual cut-off considerations.
Positive factors
- High-grade Inferred resource, indicating potential for future conversion
- Updated MRE incorporates recent drilling
- JORC (2012) compliant estimate signed off by an independent Competent Person
Negative factors
- Resource is in the Inferred category, indicating lower geological confidence
- Cut-off grade is dual (0.5 g/t Au for open pit and 1.6 g/t Au for underground), which can complicate direct comparison
Evidence · table
“3.5”
Context: 28,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredMt Eureka Project · goldTonnes: 640800Grade: 1.21Grade Unit: g/tContained Metal: 25Contained Unit: kozView all detailsHide details
Identity
- Project
- Mt Eureka Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- HTM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Lynn Widenbar
- Resource group id
- resource:e99e39af04cfc3a2d6e0
- Deposit or zone
- Taipan
Resource Data
- Category
- inferred
- Tonnes
- 640800
- Grade
- 1.21
- Grade Unit
- g/t
- Contained Metal
- 25
- Contained Unit
- koz
- Cutoff Grade
- 0.5
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-02-26
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: A moderate-grade Inferred resource, contributing to the project's overall potential but with lower confidence.
Positive factors
- Significant Inferred resource tonnage, indicating exploration potential
- JORC (2012) compliant estimate signed off by a Competent Person
Negative factors
- Resource is in the Inferred category, indicating lower geological confidence
Evidence · table
“1.21”
Context: 640,800
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedMt Eureka Project · goldTonnes: 488400Grade: 1.32Grade Unit: g/tContained Metal: 21Contained Unit: kozView all detailsHide details
Identity
- Project
- Mt Eureka Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- HTM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Lynn Widenbar
- Resource group id
- resource:78c523048bb1381fc99b
- Deposit or zone
- Southern
Resource Data
- Category
- indicated
- Tonnes
- 488400
- Grade
- 1.32
- Grade Unit
- g/t
- Contained Metal
- 21
- Contained Unit
- koz
- Cutoff Grade
- 0.5
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-02-26
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: A moderate-grade Indicated resource, adding to the project's overall confidence and potential.
Positive factors
- Significant Indicated resource tonnage, indicating good geological confidence
- JORC (2012) compliant estimate signed off by a Competent Person
Evidence · table
“1.32”
Context: 488,400
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredMt Eureka Project · goldTonnes: 457600Grade: 1.18Grade Unit: g/tContained Metal: 17Contained Unit: kozView all detailsHide details
Identity
- Project
- Mt Eureka Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- HTM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Lynn Widenbar
- Resource group id
- resource:0c9f2217193cee859622
- Deposit or zone
- Southern
Resource Data
- Category
- inferred
- Tonnes
- 457600
- Grade
- 1.18
- Grade Unit
- g/t
- Contained Metal
- 17
- Contained Unit
- koz
- Cutoff Grade
- 0.5
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-02-26
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: A moderate-grade Inferred resource, contributing to the project's potential but with lower confidence.
Positive factors
- Significant Inferred resource tonnage, indicating exploration potential
- JORC (2012) compliant estimate signed off by a Competent Person
Negative factors
- Resource is in the Inferred category, indicating lower geological confidence
Evidence · table
“1.18”
Context: 457,600
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredMt Eureka Project · goldTonnes: 640800Grade: 1.21Grade Unit: g/tContained Metal: 25Contained Unit: kozView all detailsHide details
Identity
- Project
- Mt Eureka Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- HTM
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Lynn Widenbar
- Resource group id
- resource:c1e13bb325e8d50507e0
Resource Data
- Category
- inferred
- Tonnes
- 640800
- Grade
- 1.21
- Grade Unit
- g/t
- Contained Metal
- 25
- Contained Unit
- koz
- Cutoff Grade
- 0.5
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2025-02-26
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: A moderate-grade Inferred resource, contributing to the project's overall potential but with lower confidence. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Significant Inferred resource tonnage, indicating exploration potential
- JORC (2012) compliant estimate signed off by a Competent Person
Negative factors
- Resource is in the Inferred category, indicating lower geological confidence
Evidence · table
“1.21”
Context: 640,800
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Metallurgical Results (1)
gravity and cyanide leachMt Fisher Project · goldRecovery: 97.2 %View all detailsHide details
Identity
- Project
- Mt Fisher Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- HTM
Test Work
- Program Status
- detailed
- Test Type
- gravity and cyanide leach
- Processing Route
- gravity and cyanide leach
- Sample
- master composite sample generated from recent drilling at Wagtail
- Grind P80
- 75 µm
Recovery
- Recovery
- 97.2 %
- Recovery Basis
- actual_test
Lab
- Consultant
- JT Metallurgical Services
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Highly encouraging metallurgical testwork results for Wagtail confirm excellent gold recoveries and favorable processing characteristics, significantly de-risking the project and supporting future production.
Positive factors
- Exceptional gold recoveries consistently high across all grind sizes tested
- Confirmed free-milling and non-refractory nature of the ore
- Rapid leach kinetics and low cyanide and lime consumption are highly favorable for operating costs
- Significant gravity recoverable gold content
- No deleterious elements or preg-robbing observed
Negative factors
- Testwork was on a master composite sample, which may not fully capture variability across the deposit
Evidence · text
“overall gold extractions ranging from 96.8% at P80 180μm to 98.7% at P80 75μm, equating to recoveries of up to approximately 97.2%”
Tags used in scoring
Gravity Routeneutral
Gravity separation forms a material part of the flowsheet.
Why it applies: processing_route matches the gravity signal
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: 97.2% is at or above the exceptional band (95%)
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.