HASTINGS TECHNOLOGY METALS LIMITED 
- Recent drilling along the Auer and Yangibana mineralised trends confirms that mineralisation remains open along strike and at depth beyond the current resource.
- Significant new results from Auer including;
- 16 metres @ 1.94% TREO including 0.68% Nd2O3+Pr6O11 and
- 15 metres @ 1.35% TREO including 0.53% Nd2O3+Pr6O11
- Significant new results from Yangibana including;
- 3 metres @ 1.28% TREO including 0.64% Nd2O3+Pr6O11 and
- 7 metres @ 0.8% TREO including 0.37% Nd2O3+Pr6O11
- Potential to increase Mineral Resources is clearly demonstrated as mineralised extensions outside of the existing (2,000-metre long) Yangibana Pit total more than 1,070 metres in both the easterly and westerly directions.
- Encouraging drill results hasten the Company's plan to increase its exploration expenditure for the remaining of the 2020 calendar year.
The drilling program was designed to facilitate environmental surveys of subterranean invertebrate fauna. Several of the holes inside and outside of defined resource areas intersected mineralised ironstone intervals which were sampled and assayed for Rare Earths.
A program of 80 vertical reverse-circulation (RC) drill holes total was completed at Auer-Auer North (37 holes), and Yangibana (43 holes) Prospects (Figures 1 - 4*).
COO, Andrew Reid commented: "Whilst not designed to test mineralisation, this Stygofauna drilling program has produced positive results confirming that further increases in the Mineral Resource is possible by drilling near-surface adjacent to existing open pits. Further drilling is warranted and planned during Q2 and Q3 2020"
Several of the holes were drilled within defined mineral resource boundaries and some holes intersected the mineralised structure. Intervals of ironstone up to 16 metres in thickness were intersected in drill holes at Auer, that drilled down-dip on the mineralised sub-vertical ironstone, which is the completely oxidised portion of a carbonatite-phoscorite dyke.
Drilling along strike beyond the limits of previous drilling at Yangibana also returned promising intersections of mineralised ironstone. Drilling at the western end of the Yangibana ironstone has demonstrated continuity of the mineralised zone over an additional 470 metres westwards from the limits of existing drilling (see Figure 1.*)
New Exploration Program
In light of these new results, Hastings is intending to increase its overall Exploration expenditure for the remaining of the 2020 calendar year. The results support and warrant additional drilling, where near-surface extensions to known mineralisation have been traced and identified. Surface mapping undertaken previously also confirms known positions of mineralised extensions.
This new phase of drilling is aimed at significantly extending mineralisation strike length at Simon's Find, Bald Hill, Frasers and Yangibana and testing down-dip extensions recorded to date. A new phase of drilling is subject to availability of sufficient working capital.
Simon's Find, Bald Hill and Yangibana offer the most advanced and immediate opportunities to grow the resource inventory and extend the mine life of the Yangibana Project.
The Company's geological interpretation suggests that there is substantial opportunity to add additional Mineral Resource tonnes in the area called Simon's Find. Simon's Find is located between the Bald Hill and Frasers Open Pits and is proximal to the Processing Plant Layout (Figure 5*).
Planning for this program has commenced and it is anticipated that all drilling will be substantially completed by Q4 2020.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/2OT2RG72
About Hastings Technology Metals Ltd:
Hastings Technology Metals Ltd (ASX:HAS) is a leading Australian rare earths company, with two rare earths projects hosting JORC-compliant resources in Western Australia.
- The Yangibana Project hosts Probable Reserves totaling 5.15 million tonnes at 1.12% TREO including 0.45% Nd2O3+Pr6O11 within JORC Resources totalling 21.0 million tonnes at 1.17% TREO (comprising Measured Resources of 3.9 million tonnes at 1.19% TREO, Indicated Resources of 8.6 million tonnes at 1.25% TREO and Inferred Resources of 8.4 million tonnes at 1.09% TREO), including 0.40% Nd2O3+Pr6O11.
- The Brockman deposit contains JORC Indicated and Inferred Resources totalling 41.4 million tonnes (comprising 32.3mt Indicated Resources and 9.1mt Inferred Resources) at 0.21% TREO, including 0.18% HREO, plus 0.36% Nb2O5 and 0.90% ZrO2.
- Rare earths are critical to a wide variety of current and new technologies, including smart phones, electric vehicles, wind turbines and energy efficient light bulbs.
- The Company aims to capitalise on the strong demand for rare earths permanent magnets created by expanding new technologies.
Source:
Hastings Technology Metals Ltd
Contact:
Charles Lew Chairman T: +65-9790-9008 /+61-8-6117-6118 Valerie Quay Legal Counsel & Business Planning T: +65-9781-3220
