Australia's next rare earths producer Hastings Technology Metals Limited (ASX: HAS) (Hastings or the Company) is pleased to announce drill results at the Auer deposit, part of the Company's Yangibana Rare Earths Project (Yangibana Project) in Western Australia's Gascoyne region.
The return of assays from the Auer drilling program completes the results from the Company's hugely successful 2020 Exploration Drill Program at Yangibana, which has successfully extended and expanded the rare earths mineralised resource footprint.
Auer, which has a Measured, Indicated and Inferred Resource of 2.76Mt @ 1.00% TREO1, is one of several deposits that underpin the Yangibana Project.
Along with earlier announced results from the drilling program, the Auer assays will be incorporated in the Yangibana Project Mineral Resources Estimate upgrade, which is due to be completed this quarter.
The Auer phase of drill spacing successfully demonstrated remarkable consistency within holes and strong continuity of mineralisation between holes. Drilling targeted down-dip mineralised extensions at depth, with most holes intersecting economic intercepts.
These infill drilling program results will be assessed over coming weeks to enable a robust resource estimate targeting a high level of JORC 2012 Indicated category resources by the end of the March 2021 Quarter. It is expected that the Indicated resources will have sufficient information on geology and grade continuity to support Yangibana Project mine planning.
Auer is becoming a strong future target with 3km of mineralisation already defined, which appears to be parallel and geologically similar to the 8km-long Bald Hill-Simons Find-Frasers trend that was a major feature of the 2020 Exploration Drill Program.
Hastings Technology Metals Chief Operating Officer Andrew Reid commented: 'These latest results highlight the continuity of shallow, high-grade mineralisation at the northern end of the Auer deposits and the presence of a much larger mineralised envelope, up to 12m thick and potentially indicative of the presence of a larger mineralised system.
'We are excited by what we are seeing at Auer and look forward to incorporating these latest results in the Yangibana Project's Mineral Resources Estimate update, which is due later this quarter and will be a key step on our journey towards beginning development of this rare earths project.'
Samples were sent to Genalysis Intertek in Perth for analysis using techniques considered appropriate for the style of mineralisation. Samples were analysed for the range of rare earths, rare metals (Nb, Ta, Zr), thorium and uranium and a range of common rock-forming elements (Al, Ca, Fe, Mg, Mn, P, S, Si, Sr). Once assay data were returned, the elemental values were converted to oxides using standard factors.
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About Hastings Technology Metals Limited
Hastings Technology Metals Limited is positioned to become Australia's next pure rare earths producer and is advancing its flagship Yangibana Rare Earths Project in the Upper Gascoyne Region of Western Australia towards production. The proposed beneficiation and hydrometallurgy processing plant will treat rare earths deposits, predominantly monazite that host 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 are used in a wide and expanding range of advanced and high-tech products including electric vehicles, wind turbines, robotics and medical applications. Hastings aims to become the next significant producer of neodymium and praseodymium outside of China.
Hastings also operates the Brockman Heavy Rare Earths Project near Halls Creek in the Kimberley region of Western Australia. The deposits at Brockman contain high quantities of heavy rare earths, niobium pentoxide and zirconium oxide as well as rare metals tantalum, hafnium and gallium.