Hastings has established a significant tenement package covering approximately 650 sq km under the Yangibana Project. The Project is centred approximately 270km east-northeast of Carnarvon on Wanna Station in the Gascoyne region of Western Australia (Figure 1) and is best accessed via Gascoyne Junction.

The Yangibana Project hosts extensive rare earths-bearing ferrocarbonatite/ironstone veins that have been evaluated by drilling in the 1980s and by Hastings in 2014 and 2015. The Project also has the potential to host larger, carbonatite-hosted rare earths mineralisation at depth but this target is yet to be assessed.

Hastings efforts to-date have concentrated on the ferrocarbonatite/ironstone-hosted mineralisation. Results have shown that the rare earths mineralisation is enriched in rare earths that are utilised in the high value and growing rare earths magnet sector, being neodymium, praseodymium and dysprosium.

Following a successful drilling programme as part of the Company’s ongoing Pre-Feasibility study, an updated JORC resource estimate will be released in the near future.

Yangibana project

Figure 1 – Yangibana Project Location Map

Yangibana Project (Figure 2) comprises

  1. Two Mining Leases and one Mining Lease Application, Ten Exploration Licences and three Exploration Licence Applications, and four Prospecting Licences, that are 100% owned by Hastings, and
  2. One Mining Lease and Six Exploration Licences within the Yangibana - REM Joint Venture, which is managed by Hastings and in which Hastings holds a 70% interest.

Yangibana project 2

Figure 2 – Yangibana Project Tenements


 

Yangibana JORC Resource


Hastings has completed four drilling programmes at the Yangibana Project, testing a number of targets throughout its major tenement holding. 

On the basis of this drilling, a JORC resource estimation was completed by independent consultant Lynn Widenbar and Associates and reported in January 2017.

The current total diluted resources for the Yangibana Project are :-

Category

Tonnes

Nd2O3+Pr6O11

TREO

Nd2O3

Pr6O11

 

 

%

%

ppm

ppm

Measured

2,155,000

0.42

1.01

3,410

770

Indicated

5,446,000

0.41

1.30

3,260

870

Inferred

5,807,000

0.36

1.12

2,820

770

TOTAL

13,408,000

0.39

1.18

3,100

810

(Note - Rounding discrepancies will appear in all tables)

These resources occur in a number of deposits as shown in Figure 5.  They incorporate dilution based on 0.5m beyond both the footwall and the hangingwall to the mineralisation, at grade.  Average dilution over the total resources is 30%.

The total resources comprise the following deposits that are being assessed as future mining areas during the Definitive Feasibility Study process.  As such, they are the initial targets for further drilling in 2017.

Eastern Belt – 100% Hastings

The following deposits are within the Eastern Belt and are held 100% by Hastings.

Bald Hill

Category

Tonnes

Nd2O3+Pr6O11

TREO

Nd2O3

Pr6O11

    %

%

ppm

ppm

Measured

1,899,000

0.38

0.93

3,130

690

Indicated

1,157,000

0.40

0.97

3,270

730

Inferred

924,000

0.35

0.87

2,800

650

TOTAL

3,980,000

0.38

0.93

3,100

690

 

Bald Hill Southeast

Category

Tonnes

Nd2O3+Pr6O11

TREO

Nd2O3

Pr6O11

    %

%

ppm

ppm

Indicated

303,000

0.29

0.69

2,380

520

Inferred

95,000

0.19

0.46

1,580

340

TOTAL

398,000

0.27

0.63

2,190

480

 

Fraser’s

Category

Tonnes

Nd2O3+Pr6O11

TREO

Nd2O3

Pr6O11

    %

%

ppm

ppm

Measured

255,000

0.69

1.55

5,490

1,370

Indicated

510,000

0.74

1.72

5,900

1,490

Inferred

464,000

0.57

1.35

4,550

1,150

TOTAL

1,229,000

0.66

1.55

5,310

1,340

 

Fraser’s North and Southwest

Category

Tonnes

Nd2O3+Pr6O11

TREO

Nd2O3

Pr6O11

    %

%

ppm

ppm

Inferred

406,000

0.24

0.58

1,960

480

TOTAL

406,000

0.24

0.58

1,960

480

 

Auer and Auer North

Category

Tonnes

Nd2O3+Pr6O11

TREO

Nd2O3

Pr6O11

    %

%

ppm

ppm

Indicated

99,000

0.42

1.10

3,280

890

Inferred

1,295,000

0.37

1.03

2,910

780

TOTAL

1,394,000

0.37

1.03

2,930

790

 

Western Belt – 100% Hastings

The Yangibana West deposit lies at the western end of the Western Belt and is held 100% by Hastings.

Yangibana West

Category

Tonnes

Nd2O3+Pr6O11

TREO

Nd2O3

Pr6O11

    %

%

ppm

ppm

Indicated

1,275,000

0.32

1.15

2,530

690

Inferred

427,000

0.32

1.17

2,490

700

TOTAL

1,702,000

0.32

1.15

2,520

700

 

Western Belt – 70% Hastings

The Yangibana North deposit occurs within the Western Belt, being contiguous with Yangibana West, and Hastings holds a 70% interest in this deposit.

Yangibana North

Category

Tonnes

Nd2O3+Pr6O11

TREO

Nd2O3

Pr6O11

    %

%

ppm

ppm

Indicated

2,102,000

0.42

1.58

3,200

960

Inferred

377,000

0.40

1.48

3,090

910

TOTAL

2,480,000

0.41

1.57

3,180

950

 

In addition, the following inferred resources have been estimated from the limited drilling between Gossan and Kane’s Gossan, also in the Western Belt.

Gossan, Lion’s Ear, Hook and Kane’s Gossan

Category

Tonnes

Nd2O3+Pr6O11

TREO

Nd2O3

Pr6O11

    %

%

ppm

ppm

Inferred

1,820,000

0.34

1.33

2,610

800

TOTAL

1,820,000

0.34

1.33

2,610

800


Drill Coverage
Yangibana: Plan showing drill coverage to end of 2016

Yangibana Project Status

The Yangibana Project is advancing towards the completion of a Definitive Feasibility Study (DFS) expected by early Q42017.  Independent consultants Wave International are providing support for the Company by managing this process.

Drilling programmes are under way to increase the current JORC resources totalling 13.41 million tonnes at 1.18% Total Rare Earths Oxides (TREO) comprising Measured Resources of 2.16 million tonnes at 1.01% TREO, Indicated Resources of 5.45 million tonnes at 1.30% TREO and Inferred Resources of 5.81 million tonnes at 1.12% TREO), including 0.39% Nd2O3+Pr6O11.  Infill and extension drilling is continuing at the defined deposits at Bald Hill, Fraser’s, Yangibana West (all 100% Hastings) and Yangibana North (70%), and new targets are to be tested soon.

On completion of this drilling, new JORC Resources will be estimated.  Based on operational and commodity price parameters established by the Company, mining consultants will undertake pit optimisation studies and establish the first reserves for the Project.  Preliminary mining studies indicate potential profitability even at current low commodity prices.

Metallurgical testwork has continued to produce excellent results from both beneficiation and hydrometallurgical sectors and the Company has successfully completed pilot plant tests.  Further improvements have been achieved after the completion of the pilot plant operation and these will be incorporated in the DFS.

Process design is being undertaken by the Company’s consulting engineering company.

All studies are well advanced regarding geotechnical conditions, environmental studies, and groundwater studies sourcing supply for the planned operation.

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Yangibana Geology

The dominant lithologies in the tenement area are granites of the Durlacher Supersuite. Rafts of older sedimentary rocks occur within these intrusives.

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