Yangibana Project Resources Now Exceed 20.5 Million Tonnes
Sydney, Oct 11, 2017 AEST (ABN Newswire) - Hastings Technology Metals Limited (
ASX:HAS) advises that the Yangibana JORC Resources now exceed 20.5 million tonnes. The updated resources include recent results from the Company's 2017 drilling programme, including reverse circulation (RC) drilling at two new targets, Yangibana and Simon's Find (100% owned, Figure 1 in link below). These deposits were not included in the Company's July 2017 JORC Resource estimate.
HIGHLIGHTS
- Updated JORC Resources defined for the Yangibana Project now exceed 20.5 million tonnes.
- This provides a further significant increase in tonnes of contained TREO (+12.5%) and of contained Nd2O3+Pr6O11 (+19.4%).
- New Resources at Yangibana Deposit of 2.17 million tonnes at 0.84%TREO including 0.40%Nd2O3+Pr6O11
- New Resources at Simon's Find Deposit of 1.31 million tonnes at 0.66%TREO including 0.35%Nd2O3+Pr6O11
- First JORC Measured Resource at Yangibana North Deposit
INTRODUCTION
Both Yangibana and Simon's Find host mineralisation with very high ratios of Nd2O3+Pr6O11:TREO, ranging from 44 to 57%. They are potentially important sources of feed to the Company's planned production of mixed rare earths carbonate concentrate, as they are enriched in neodymium (Nd) and praseodymium (Pr), for sale into the high growth rare earths magnets industry.
The first JORC Measured Resource has been estimated for the Yangibana North deposit (70% owned) following infill drilling results.
September 2017 Total JORC Resources
JORC Resource estimation was completed by independent consultant Mr. Lynn Widenbar, principal of Widenbar and Associates Pty Limited, to take account of the recent drill results reported in the ASX Release dated 9th October titled "High Neodymium (Nd) And Praseodymium (Pr) Ore Grade Content Confirmed At New Targets". The new estimation provides the first resources for the recently discovered Yangibana and Simon's Find deposits, and include the first Measured Resources at Yangibana North. The updated total JORC Resources for the Yangibana Project are shown in Table 1 (see link below).
These resources represent a further significant increase in contained tonnes of TREO from 216,000 tonnes in the July estimate to 243,000 tonnes now (+12.5%), and in contained tonnes of Nd2O3+Pr6O11 from 68,900 tonnes to 84,240 tonnes (+19.4%). The location of all deposits with JORC Resources are shown in green in Figure 1 (see link below).
Yangibana Prospect
The new resource report includes the first estimation for the Yangibana deposit as shown in Table 2 (see link below). The Yangibana deposit as drilled lies within Mining Lease M09/165 (100% owned).
Simon's Find Prospect
The first resource estimation for the Simon's Find deposit is shown in Table 3 (see link below). The Simon's Find deposit covers a discontinuously outcropping ironstone unit within Exploration Licences E09/2018, E09/2129 and E09/1943 (100% owned).
Yangibana North
Recent infill drilling has upgraded a significant portion of the Yangibana North deposit (70% owned) from Indicated to Measured Resource category as shown in Table 4 (see 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/ZR27C2M8
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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