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High-Tech Metals Limited (ASX: HTM) (High-Tech, or the Company) technical and geological consultants successfully progressed field work and sampling within the key target areas at its Werner Lake Cobalt Project located in north-western Ontario during the June quarter. This follows the successful orientation ground geophysical program, (Refer to ASX Release dated 20th April 2023 and 26th May 2023) which was pivotal in identifying potential mineral deposits and improving our understanding of the geological structure of the area.
HIGHLIGHTS
HTM successful completed ground magnetic and electromagnetic surveys at its Werner Lake Cobalt Project to identify high priority electrical conductors and/or magnetic anomalies for follow- up Drilling.
Results are being refined for Phase II exploration including mapping and sampling over geophysical targets.
The Company had received valid applications for 12,307,964 Loyalty Options, raising a total of $12,308.12 (before costs) under the Offer and a total of 4,112,041 Loyalty Options (Shortfall Options) were placed through a non-renounceable entitlement issue of Loyalty Options to eligible shareholders. The Company has the Loyalty Options listed on the ASX under the ASX code HTMO.
SUBSEQUENT EVENTS
The HTM field team collected approximately 209 rock samples over the course of June which will be used to delineate targets for potential additional sampling, detailed ground geophysics and drilling.
The Company has received several new project opportunities in the vicinity of Werner Lake and continues to conduct high-level internal assessments on projects that fit the Company’s objective of becoming a battery metal focused Company.
HTM EXPLORATION ROADMAP
Finalisation of targeting for Phase II has been completed with results from the sampling program providing additional data for HTM’s planned maiden drilling program.
The field program was conducted by APEX Geoscience’s team who collected 209 rock samples over the course of June which will be used to delineate targets for potential follow-up sampling and drilling testing. The field program was overseen by the Company’s professional geologist, Toby Hughes, P. Geo, who has extensive experience in the region.
Figure 1 - Werner Lake Ground Geophysical Survey: Residual Magnetic Intensity Gridded Images.
Click here for the full ASX Release
This article includes content from High-Tech Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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