- 2017 drilling programme commenced with immediate success
- Extension to west of Bald Hill existing resources established
- High grade intersections in depth extensions at Yangibana North and Yangibana West deposits
- Good results from infill drilling at Auer and Auer North deposits
- New JORC Resource Estimation completed incorporating recent drilling results
- Total diluted resources now 17.02 million tonnes at 1.27% total rare earths oxide (TREO) including 0.41% neodymium plus praseodymium oxides (Nd2O3+Pr6O11)
- A 37% increase in contained TREO and a 32% increase in contained Nd2O3+Pr6O11 from the December 2016 resource estimate
- Pilot plant testing of the hydrometallurgy (Hydromet) circuits successfully validated the simple and effective flowsheet of the Yangibana Hydromet processes
- The pilot plant achieved or exceeded the operational process parameters set by the initial hydrometallurgy process flowsheet, with rare earths recoveries at or above 94% for water leach, 95% for impurity removal and 98.5% for carbonate precipitation
- 50 kilograms of Mixed Rare Earths Carbonate (MREC) generated from the pilot plant
- Further optimisation, post-pilot Beneficiation test work at the laboratory of ALS Metallurgy in Perth, gives us more than 25% TREO grade at 85% recovery for our flotation process
- Hastings' Yangibana Rare Earths Project ("the Project") has been assigned as a Lead Agency Project (LAP) under the Western Australian Government Lead Agency Framework, by the Department of Mines, Industry Regulation and Safety (DMIRS; formally DMP)
- Positive policy changes from governments and automotive companies around the world auger well for demand growth of rare earths in the years ahead.
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About Hastings Technology Metals Ltd
Hastings Technology Metals Ltd (ASX:HAS) (FRA:5AM) is a leading Australian rare earths company, with two rare earths projects hosting JORC-compliant resources in Western Australia.
- The Yangibana Project hosts JORC Resources totalling 20.56 million tonnes at 1.18% TREO (comprising Measured Resources of 3.79 million tonnes at 1.18% TREO, Indicated Resources of 8.24 million tonnes at 1.27% TREO and Inferred Resources of 8.53 million tonnes at 1.11% 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.
Chief Operating Officer
Director Corporate Finance
Hastings Technology Metals Ltd (ASX:HAS) Fully Underwritten Share Purchase Plan to Fund Infrastructure Works at Yangibana Rare Earths Project