Exceptional Results from Resource Expansion Drilling
Sydney, June 21, 2017 AEST (ABN Newswire) - Hastings Technology Metals Ltd (
ASX:HAS) is pleased to announce that some exceptional high grade assay results have been received from the Company's 2017 drilling programme at Yangibana North. These results are from holes drilled into the southern, deeper extension to the current Indicated Resources and show potential for increasing both the tonnes and average grade of the resources at this deposit.
HIGHLIGHTS
- First assay results from 2017 drilling at Yangibana North and Fraser's received
- Holes at Yangibana North tested southern, deeper extension to the known deposit
- Best intersections include:-
6m at 3.86%TREO including 0.91% Nd2O3+Pr6O11
6m at 3.81%TREO including 0.88% Nd2O3+Pr6O11,
8m at 2.17%TREO including 0.52% Nd2O3+Pr6O11,
3m at 5.24%TREO including 1.40% Nd2O3+Pr6O11, and
3m at 4.54%TREO including 1.20% Nd2O3+Pr6O11
- Holes at Fraser's tested northern extension to the known deposit
- Best intersections include:-
5m at 1.39%TREO including 0.68% Nd2O3+Pr6O11, and
1m at 2.11%TREO including 0.81% Nd2O3+Pr6O11
INTRODUCTION
The current JORC Resources at Yangibana North are shown in Table 1 (see the link below).
Assays have also been received from drilling at the northern extension of the current Measured and Indicated Resources at Fraser's. Results indicate potential for a limited increase in the current JORC Resources that are shown in Table 2 (see the link below).
DRILLING RESULTS
Table 3 (see the link below) provides a summary of the best intersections in results received to date from Yangibana North.
Holes YGRC77-84 tested the potential southern extension of mineralisation towards the eastern end of the Yangibana North Resources. Results are in line with adjacent, previously drilled holes and it is likely that the next pit optimisation, to be completed in the near future as part of the Company's ongoing Definitive Feasibility Study, will extend the pit over this area.
Holes YGRC85-91 tested the western portion of the Yangibana North Resources where the mineralisation is relatively shallow and flat-lying. The high grades returned in three of the recent holes, including Nd2O3+Pr6O11 grades exceeding 1.0% in two holes, are very encouraging and will enhance the next JORC resource estimation and subsequent pit optimisation.
Collar locations of drilling completed to date at Yangibana North are shown in Figure 1 (see the link below). Drillhole parameters are provided in Appendix 1 (see the link below), and assay details are provided in Appendix 2 (see the link below).
Table 4 (see the link below) provides a summary of the best intersections in results received to date from Fraser's.
Drillhole parameters are provided in Appendix 3 (see the link below), and assay details are provided in Appendix 4 (see the link below).
TERMINOLOGY USED IN THIS REPORT
TREO is the sum of the oxides of the light rare earth elements lanthanum (La), cerium (Ce), praseodymium (Pr), neodymium (Nd), and samarium (Sm) and the heavy rare earth elements europium (Eu), gadolinium (Gd), terbium (Tb), dysprosium (Dy), holmium (Ho), erbium (Er), thulium (Tm), ytterbium (Yb), lutetium (Lu), and yttrium (Y).
To view tables and figures, please visit:
http://abnnewswire.net/lnk/F895BB88
About Hastings Technology Metals Ltd
Hastings Technology Metals Ltd (ASX:HAS) (FRA:5AM) is advancing its Yangibana Rare Earths Project in the Upper Gascoyne Region of Western Australia towards production. The proposed beneficiation and hydro metallurgy processing plant will treat rare earths deposits, predominantly monazite, hosting high neodymium and praseodymium contents to produce a mixed rare earths carbonate that will be further refined into individual rare earth oxides at processing plants overseas.
Neodymium and praseodymium are vital components in the manufacture of permanent magnets which is used in a wide and expanding range of advanced and high-tech products including electric vehicles, wind turbines, robotics, medical applications and others. Hastings aims to become the next significant producer of neodymium and praseodymium outside of China.
Hastings holds 100% interest in the most significant deposits within the overall project, and 70% interest in additional deposits that will be developed at a later date, all held under Mining Leases. Numerous prospects have been identified warranting detailed exploration to further extend the life of the project.
Brockman Project
The Brockman deposit, near Halls Creek in Western Australia, contains JORC Indicated and Inferred Mineral Resources, estimated using the guidelines of JORC Code (2012 Edition).
The Company is also progressing a Mining Lease application over the Brockman Rare Earths and Rare Metals Project.
Hastings aims to capitalise on the strong demand for critical rare earths created by the expanding demand for new technology products.
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