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Final 2017 JORC Resource Update Including Auer and Auer North
Final 2017 JORC Resource Update Including Auer and Auer North
Sydney, Nov 22, 2017 AEST (ABN Newswire) - Hastings Technology Metals Limited (ASX:HAS) advises that the final JORC Resource Estimate for 2017 has been completed establishing total resources of 21.0 million tonnes at 1.17% Total Rare Earths Oxides (TREO) including 0.4% neodymium oxide plus praseodymium oxide (Nd2O3+Pr6O11). These figures include the first Indicated Resources at Auer and expanded Indicated Resources at Auer North from the final drilling results of the 2017 drilling programme.

HIGHLIGHTS

- Successful infill drilling at Auer and Auer North deposits

- Updated JORC Resources of 21.0 million tonnes at 1.17% TREO including 0.40%Nd2O3+Pr6O11

- New JORC Resources include first Indicated Resources at Auer of over 260,000 tonnes

- New JORC Resources include expanded Indicated Resources at Auer North of over 300,000 tonnes

- Final assay results from diamond drilling at various deposits in line with expectations

- Diamond drillhole at Simon's Find returns high grade 5.45m at 5.30% Niobium Nb2O5

FINAL 2017 JORC RESOURCE ESTIMATE

Following the completion of the 2017 exploration drilling programme at the Yangibana Project, an updated JORC Resource estimate has been assessed by independent consultants Widenbar and Associates Pty Limited that provides a marginal increase to the resources reported in the ASX release dated 12th October 2017. The updated resource estimate incorporates results from recent drilling at the Auer and Auer North deposits as detailed below.

Total Resources now stand at 21.0mt as shown in Table 1 (see link below). Note that resource tonnes in the following tables are rounded to the nearest 100,000 tonnes.

These resources include those within tenements held 100% by Hastings (see Table 2 in link below) and those held in joint venture with Hastings holding 70% interest (see Table 3 in link below).

AUER AND AUER NORTH RESOURCES

Recent reverse circulation (RC) infill and depth-extension drilling at the Auer and Auer North deposits was concentrated on Zones 2 and 3 at Auer (see Figure 1 in link below) and at Zone 1 at Auer North (see Figure 2 in link below).

Best intersections returned from this programme are shown in Table 4 (see link below). Due to the steep nature of the mineralisation at Auer and Auer North, true thicknesses are approximately 50% of intersected thicknesses.

Drillhole parameters are provided in Appendix 1 (see link below) and detailed assays for the selected intervals are provided in Appendix 2 (see link below).

Incorporating these results, independent consultant Widenbar and Associates Pty Limited has estimated JORC Resources at Auer and Auer North as shown in Tables 5 and 6 (see link below) respectively, rounded to the nearest 100 tonnes.

Figure 3 (see link below) provides a longitudinal section covering both Auer and Auer North deposits showing the m%Nd2O3+Pr6O11 accumulations.

The grade and mineralisation-style are compatible with the proposed processing route and these new Indicated Resources will extend the life of the Yangibana operation. Additional drilling is required to further expand and upgrade resources at both deposits.

DIAMOND DRILLING RESULTS

Final results have been received from the Company's 2017 diamond drilling programme with best intersections as shown in Table 7 (see link below).

NIOBIUM

As reported in the ASX announcement of 9th October 2017, highly anomalous niobium assay results have been received from drilling at the Simon's Find prospect. Recent diamond drill results include the exceptional interval in SFDD002 from 27.55-33.0m of 5.45m at 5.30%Nb2O5.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/79K3WLTP


About Hastings Technology Metals Ltd

Hastings Technology Metals Ltd (ASX:HAS) (FRA:5AM) is currently developing a rare earths mine and processing plant at Yangibana in the Gascoyne Region of Western Australia. The processing plant is anticipated to commence production of MREC in late 2019. Hastings has completed both beneficiation and hydrometallurgy pilot plants, in the process producing MREC samples which are high in neodymium and praseodymium content. These are critical materials for the production of permanent magnets and other technology applications. The MREC will be capable of being further separated and refined to produce a number of individual rare earth oxides outside of Australia. Hastings estimates an annual production quantity of 15,000 tonnes of MREC¹ which it will sell to offtake partners globally.

 


Contact

Viv Roberts
Director of Mining Operations
M: +61-407-477-959

Andy Border
General Manager Exploration
T: +61-2-8268-8689



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