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.

 




Yangibana Drill Targets 2017

Yangibana Project – Targets to be drilled 2017