High-Tech Metals Limited (ASX: HTM) has announced the acquisition of the Norpax Nickel Sulphide Deposit and an option to purchase the Reynar Lake Project in Ontario, Canada. These projects are strategically situated adjacent to HTM's existing Werner Lake Project, expanding the company's landholding in the Werner Lake Area and its exposure to battery metals like copper, cobalt, and nickel.
Norpax Deposit, covering 1.11 km², boasts a historical non-JORC compliant resource of 1,010,000 tonnes with 1.2% Ni and 0.5% Cu.
HTM plans to review available data and design an exploration program to work towards a JORC 2012 compliant Mineral Resource Estimate (MRE) for Norpax. The deposit lies on a known mineralized peridotite fault zone known for hosting significant nickel deposits. The Reynar Lake Project, adjacent to Werner Lake, is highly prospective for Ni, Cu, and Co, providing HTM with additional land for potential cobalt resource expansion and nickel sulphide mineral exploration. The acquisition positions HTM as one of the largest landholders in the region, bolstering its commitment to exploring and developing these valuable resources.
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