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% TREO (Figure 2*), is one of several deposits that underpin the
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
Hastings is not aware of any new information or data that materially affects the information in this market announcement. In the case of estimates of 'mineral resources' or 'ore reserves', all material assumptions and technical parameters underpinning the estimates in this market announcement continue to apply and have not materially changed.
"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
Sampling
Samples were sent to Genalysis Intertek in
2020 Exploration Drill Program Delivered
Hastings commenced the 2020 drilling program with a Reverse Circulation (RC) drill rig mobilised to site in
- Validate the existing Bald Hill Deposit Mineral Resource Estimates with close-spaced, grade-control drilling;
- Increase the
- Obtain core samples for additional metallurgical test work and ore characterisation studies.
The Auer assays complete the flow of results from the 2020 Exploration Drill Program, which has proven hugely successful and exceeded all expectations for Hastings.
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About
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
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.
The Brockman deposit, near
The Company is also progressing a
Hastings aims to capitalise on the strong demand for critical rare earths created by the expanding demand for new technology products.
Contact:
Chairman
T: +65-6220-9220 /+61-8-6117-6118
Chief Operations Officer
T: +61-487-888-787
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