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Hastings Yangibana Project Resources now Exceed 20.5 Million Tonnes

October 13, 2017      Source:Hastings Technology Metals Limited

Keywords:rare earth

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). These deposits were not included in the Company's July 2017 JORC Resource estimate.

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 to the Company's planned production of mixed rare eartths 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 dirlling results.

The new estimation provides the first resourcs 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.


Category

Tonnes

Nd2O3+Pr6O11

TREO

Nd2O3

Pr6O11

 

 

%

%

ppm

ppm

Measured

3,792,000

0.42

1.18

3,350

840

Indicated

8,240,000

0.43

1.27

3,410

870

Inferred

8,527,000

0.37

1.11

2,900

760

Total

20,559,000

0.40

1.18

3,190

820


Table 1-Yangibana Project, Total JORC Resources, September 2017


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.



Figure 1- Yangibana Project, Deposit Location Plan


Yangibana Prospect


The new resource report includes the first estimation for the Yangibana deposit as shown in Table 2.


Category

Tonnes

Nd2O3+Pr6O11

TREO

Nd2O3

Pr6O11

 

 

%

%

ppm

ppm

Indicated

1,318,000

0.41

0.86

3,470

610

Inferred

851,000

0.39

0.81

3,280

570

Total

2,169,000

0.40

0.84

3,400

590


Table 2-Yangibana Project, Yangibana Deposit, Septemner 2017 JORC Resources


Simon’s Find Prospect


The first resource estimation for the Simon’s Find deposit is shown in Table 3. The Simon’s Find deposit covers a discontinuously outcropping ironstone unit within Exploration Licences.


Category

Tonnes

Nd2O3+Pr6O11

TREO

Nd2O3

Pr6O11

 

 

%

%

ppm

ppm

Indicated

454,000

0.35

0.64

2,960

520

Inferred

855,000

0.35

0.67

2,950

530

Total

1,309,000

0.35

0.66

2,950

530


Table 3- Yangibana Project, Simon’s Find Deposit, September 2017 JORC Resources


 


Yangibana North


Recent infill drilling has updated a significant portion of the Yangibana North deposit (70% owned) from Indicated to Measured Resource category as shown in Table 4.


Category

Tonnes

Nd2O3+Pr6O11

TREO

Nd2O3

Pr6O11

 

 

%

%

ppm

ppm

Measured

871,000

0.43

1.64

3,260

1,000

Indicated

1,925,000

0.47

1.84

3,590

1,110

Inferred

632,000

0.47

1.85

3,550

1,110

Total

3,428,000

0.46

1.79

3,500

1,080






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