Increase in Measured and Indicated Resources at Yangibana
Sydney, Nov 22, 2018 AEST (ABN Newswire) - The Directors of Hastings Technology Metals Limited (
ASX:HAS) are pleased to announce a 6.7% increase in Measured plus Indicated Resources at the Yangibana Project compared to the most recent JORC Mineral Resource estimate in November 2017 (ASX release titled "Final 2017 JORC Resource Update including Auer and Auer North Results" 22nd November 2017). Measured plus Indicated Resources now stand at 13.38 million tonnes within a total resource of 21.67 million tonnes. The total resource now hosts more than 80,000 tonnes of neodymium and praseodymium oxide, the Company's main economic driver.
- Measured plus Indicated Resources increased by 6.7% to 13.38 million tonnes
- Total Resources increased to 21.67 million tonnes
- Contained neodymium and praseodymium oxide exceeds 80,000 tonnes in total resources
- Programmes in place for next drilling phase in 2019
JORC Mineral Resources
An updated JORC Mineral Resource estimation has been completed by independent consultant Lynn Widenbar and Associates incorporating the recent drilling results from Bald Hill, Fraser's, Auer and Auer North deposits. The total resources as at October 2018 are as shown in Table 1(see link below). Note that in all resource tables rounding errors may appear. The resources are based on a 0.2%Nd2O3+Pr6O11 cut-off, with a minimum width of 1.0m. 0.5m of dilution at grade from both the hangingwall and the footwall is incorporated into the estimation.
These figures represent a modest increase in total tonnes compared to the previous estimate from 20,996,000 (+3.2%), but a significant increase in Measured plus Indicated Resources (+6.7%), particularly in the Measured category that has increased by 21.1%.
Resources from the deposits that are planned for early development - Bald Hill and Fraser's - are shown in Tables 2 and 3(see link below). Both deposits are within granted Mining Leases held 100% by Hastings.
Following the recent drilling at Auer and Auer North (ASX Release titled "Successful Infill and Extension Drilling at Auer, Auer North" 5th October 2018) , the main increases in total resources are at these deposits as shown in Tables 4 and 5(see link below). Both deposits are within Exploration Licences held 100% by Hastings and the Company will make application for a Mining Lease in the near future.
Longitudinal sections of Auer and Auer North showing accumulation (metre % Nd2O3+Pr6O11) are shown in Figures 1 and 3 (see link below) showing good potential for additional resources particularly at depth along the length of Auer and at Auer North Zone 1. Figures 2 and 4 (see link below) show the resource categorisation for the two deposits.
JORC Mineral Resources for Yangibana, Yangibana West, and Yangibana North are shown in Tables 6, 7 and 8 (see link below) respectively.
Of the total resources at Yangibana, 1,900,000 tonnes are within Mining Lease 09/165 held 100% by Hastings and 269,000 tonnes are within Mining Lease 09/163 in which Hastings holds a 70% interest.
Yangibana West lies within Mining Lease 09/160 held 100% by Hastings. The mineralisation is part of a continuous deposits that extends into Mining Lease 09/159, in which Hastings holds a 70% interest, as Yangibana North.
JORC Mineral Resources at Simon's Find are shown in Table 9(see link below). These resources are located within Mining Lease 09/158 and Exploration Licence 09/1943, both held 100% by Hastings. Additional drilling and metallurgical testwork will be undertaken prior to the application for a second Mining Lease.
JORC Inferred Mineral Resources at Gossan, Lion's Ear, Hook and Kane's Gossan are shown in Table 10(see link below). These deposits are all within Mining Lease 09/159 in which Hastings holds a 70% interest.
A proposed drilling programme for 2019 has been established and will commence with holes testing the large aeromagnetic anomaly reported recently (ASX Release titled "Major Aeromagnetic Target Identified at Yangibana" 8th August 2018).
TERMINOLOGY USED IN THIS REPORT
Total Rare Earths Oxides, 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/GVX5X06M
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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