Final 2017 JORC Resource Update Including Auer and Auer North
Sydney, Nov 22, 2017 AEST (ABN Newswire) - Hastings Technology Metals Limited (
ASX:HAS) advises that the final JORC Resource Estimate for 2017 has been completed establishing total resources of 21.0 million tonnes at 1.17% Total Rare Earths Oxides (TREO) including 0.4% neodymium oxide plus praseodymium oxide (Nd2O3+Pr6O11). These figures include the first Indicated Resources at Auer and expanded Indicated Resources at Auer North from the final drilling results of the 2017 drilling programme.
HIGHLIGHTS
- Successful infill drilling at Auer and Auer North deposits
- Updated JORC Resources of 21.0 million tonnes at 1.17% TREO including 0.40%Nd2O3+Pr6O11
- New JORC Resources include first Indicated Resources at Auer of over 260,000 tonnes
- New JORC Resources include expanded Indicated Resources at Auer North of over 300,000 tonnes
- Final assay results from diamond drilling at various deposits in line with expectations
- Diamond drillhole at Simon's Find returns high grade 5.45m at 5.30% Niobium Nb2O5
FINAL 2017 JORC RESOURCE ESTIMATE
Following the completion of the 2017 exploration drilling programme at the Yangibana Project, an updated JORC Resource estimate has been assessed by independent consultants Widenbar and Associates Pty Limited that provides a marginal increase to the resources reported in the ASX release dated 12th October 2017. The updated resource estimate incorporates results from recent drilling at the Auer and Auer North deposits as detailed below.
Total Resources now stand at 21.0mt as shown in Table 1 (see link below). Note that resource tonnes in the following tables are rounded to the nearest 100,000 tonnes.
These resources include those within tenements held 100% by Hastings (see Table 2 in link below) and those held in joint venture with Hastings holding 70% interest (see Table 3 in link below).
AUER AND AUER NORTH RESOURCES
Recent reverse circulation (RC) infill and depth-extension drilling at the Auer and Auer North deposits was concentrated on Zones 2 and 3 at Auer (see Figure 1 in link below) and at Zone 1 at Auer North (see Figure 2 in link below).
Best intersections returned from this programme are shown in Table 4 (see link below). Due to the steep nature of the mineralisation at Auer and Auer North, true thicknesses are approximately 50% of intersected thicknesses.
Drillhole parameters are provided in Appendix 1 (see link below) and detailed assays for the selected intervals are provided in Appendix 2 (see link below).
Incorporating these results, independent consultant Widenbar and Associates Pty Limited has estimated JORC Resources at Auer and Auer North as shown in Tables 5 and 6 (see link below) respectively, rounded to the nearest 100 tonnes.
Figure 3 (see link below) provides a longitudinal section covering both Auer and Auer North deposits showing the m%Nd2O3+Pr6O11 accumulations.
The grade and mineralisation-style are compatible with the proposed processing route and these new Indicated Resources will extend the life of the Yangibana operation. Additional drilling is required to further expand and upgrade resources at both deposits.
DIAMOND DRILLING RESULTS
Final results have been received from the Company's 2017 diamond drilling programme with best intersections as shown in Table 7 (see link below).
NIOBIUM
As reported in the ASX announcement of 9th October 2017, highly anomalous niobium assay results have been received from drilling at the Simon's Find prospect. Recent diamond drill results include the exceptional interval in SFDD002 from 27.55-33.0m of 5.45m at 5.30%Nb2O5.
To view tables and figures, please visit:
http://abnnewswire.net/lnk/79K3WLTP
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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