Announcement PDF 21 June 2017 Hastings Technology Metals Limited EXCEPTIONAL RESULTS FROM YANGIBANA NORTH RESOURCE EXPANSION DRILLING TO EXTEND MINE LIFE ABN 43 122 911 399 HIGHLIGHTS ASX Code: Shares - HAS Address: Suite 506, Level 5, 50 Clarence Street Sydney NSW 2000 PO Box Q128 Queen Victoria Building NSW 1220 Australia Telephone: +61 2 9078 7674 Facsimile: +61 2 9078 7661 info@hastingstechmetals.com Board • First assay results from 2017 drilling at Yangibana North and Fraser’s received • Holes at Yangibana North tested southern, deeper extension to the known deposit • Best intersections include:6m at 3.86%TREO including 0.91% Nd2O3+Pr6O11 6m at 3.81%TREO including 0.88% Nd2O3+Pr6O11, 8m at 2.17%TREO including 0.52% Nd2O3+Pr6O11, 3m at 5.24%TREO including 1.40% Nd2O3+Pr6O11, and 3m at 4.54%TREO including 1.20% Nd2O3+Pr6O11 • Holes at Fraser’s tested northern extension to the known deposit • Best intersections include:5m at 1.39%TREO including 0.68% Nd2O3+Pr6O11, and 1m at 2.11%TREO including 0.81% Nd2O3+Pr6O11 INTRODUCTION Charles Lew (Executive Chairman) Anthony Ho (Non-Exec Director) Jean Claude Steinmetz (Non-Exec Director) Hastings Technology Metals Ltd (ASX:HAS) is pleased to announce that some exceptional high grade assay results have been received from the Company’s 2017 drilling programme at Yangibana North. These results are from holes drilled into the southern, deeper extension to the current Indicated Resources and show potential for increasing both the tonnes and average grade of the resources at this deposit. The current JORC Resources at Yangibana North are shown in Table 1. www.hastingstechmetals.com ___________________________________________________________________________________________________ Category Tonnes Indicated Inferred TOTAL 2,102,000 377,000 2,480,000 Nd2O3+Pr6O11 % 0.42 0.40 0.41 TREO % 1.58 1.48 1.57 Nd2O3 ppm 3,200 3,090 3,180 Pr6O11 ppm 960 910 950 Table 1 – Yangibana Project – Yangibana North Current JORC Resources Assays have also been received from drilling at the northern extension of the current Measured and Indicated Resources at Fraser’s. Results indicate potential for a limited increase in the current JORC Resources that are shown in Table 2. Category Tonnes Measured Indicated Inferred TOTAL 255,000 510,000 464,000 1,229,000 Nd2O3+Pr6O11 % 0.69 0.74 0.57 0.66 TREO % 1.55 1.72 1.35 1.55 Nd2O3 ppm 5,490 5,900 4,550 5,310 Pr6O11 ppm 1,370 1,490 1,150 1,340 Table 2 – Yangibana Project – Fraser’s Current JORC Resources DRILLING RESULTS Table 3 provides a summary of the best intersections in results received to date from Yangibana North. Hole No YGRC 77 78 79 80 81 82 83 84 85 86 88 90 91 92 93 From To Interval %TREO %Nd2O3+Pr6O11 40 66 44 46 48 30 60 58 51 35 32 16 24 39 30 42 68 48 52 51 35 66 66 53 36 37 19 27 45 32 2 2 4 6 3 5 6 8 2 1 5 3 3 6 2 2.10 2.19 2.45 3.81 2.80 2.00 3.86 2.17 3.20 1.59 1.70 5.24 4.54 1.81 2.42 0.53 0.55 0.62 0.88 0.60 0.50 0.91 0.52 0.78 0.38 0.42 1.40 1.20 0.45 0.45 Table 3 – Yangibana Project, Yangibana North 2017 Drilling, Summary of best results to date Holes YGRC77-84 tested the potential southern extension of mineralisation towards the eastern end of the Yangibana North Resources. Results are in line with adjacent, previously drilled holes and it is likely that the next pit optimisation, to be completed in the near future ___________________________________________________________________________________________________ as part of the Company’s ongoing Definitive Feasibility Study, will extend the pit over this area. Holes YGRC85-91 tested the western portion of the Yangibana North Resources where the mineralisation is relatively shallow and flat-lying. The high grades returned in three of the recent holes, including Nd2O3+Pr6O11 grades exceeding 1.0% in two holes, are very encouraging and will enhance the next JORC resource estimation and subsequent pit optimisation. Collar locations of drilling completed to date at Yangibana North are shown in Figure 1. Drillhole parameters are provided in Appendix 1, and assay details are provided in Appendix 2. Table 4 provides a summary of the best intersections in results received to date from Fraser’s. Hole No FRRC 110 115 116 118 119 122 From To Interval %TREO %Nd2O3+Pr6O11 43 46 29 30 31 112 45 47 35 35 36 113 2 1 6 5 5 1 1.02 0.84 0.41 0.69 1.39 2.11 0.45 0.37 0.21 0.30 0.68 0.81 Table 4 – Yangibana Project, Fraser’s 2017 Drilling, Summary of best results to date Drillhole parameters are provided in Appendix 3, and assay details are provided in Appendix 4. Figure 1 – Yangibana Project – Collar Locations, Yangibana North 2017 drillhole locations on aerial photo ___________________________________________________________________________________________________ TERMINOLOGY USED IN THIS REPORT TREO is the sum of the oxides of the light rare earth elements lanthanum (La), cerium (Ce), praseodymium (Pr), neodymium (Nd), and samarium (Sm) and the heavy rare earth elements europium (Eu), gadolinium (Gd), terbium (Tb), dysprosium (Dy), holmium (Ho), erbium (Er), thulium (Tm), ytterbium (Yb), lutetium (Lu), and yttrium (Y). For further information please contact: Andy Border, General Manager Exploration, +61 2 8268 8689 Charles Tan, Chief Operations Officer, +61 457 853 839 About Hastings Technology Metals • • • • • Hastings Technology Metals 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 13.41 million tonnes at 1.18% 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. 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, hybrid cars, wind turbines and energy efficient light bulbs. The Company aims to capitalise on the strong demand for critical rare earths created by expanding new technologies. Competent Persons’ Statement The information in this announcement that relates to Resources is based on information compiled by Lynn Widenbar. Mr Widenbar is a consultant to the Company and a member of the Australasian Institute of Mining and Metallurgy. The information in this announcement that relates to Exploration Results is based on information compiled by Andy Border, an employee of the Company and a member of the Australasian Institute of Mining and Metallurgy. Each has sufficient experience relevant to the styles of mineralisation and types of deposits which are covered in this announcement and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2012 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (“JORC Code”). Each consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears. ___________________________________________________________________________________________________ Appendix 1 – Yangibana North Drillhole parameters Hole_ID Easting Northing Dip Depth YGRC075 YGRC076 YGRC077 YGRC078 YGRC079 YGRC080 YGRC081 YGRC082 YGRC083 YGRC084 YGRC085 YGRC086 YGRC087 YGRC088 YGRC089 YGRC090 YGRC091 YGRC092 YGRC093 417759 417735 417724 417247 417269 417289 417364 417316 417353 417309 417327 417139 417103 417075 417083 417060 417019 416988 417043 7362125 7362145 7362115 7362073 7362113 7362077 7362080 7362110 7362045 7362038 7362070 7362301 7362295 7362322 7362362 7362393 7362390 7362374 7362357 -90 -90 -90 -90 -90 -90 -90 -90 -90 -90 -90 -90 -90 -90 -90 -90 -90 -90 -90 46 48 48 76 66 68 60 55 74 72 66 51 53 53 40 47 53 52 45 Appendix 2 – Yangibana North Assay details for intervals quoted in announcement Hole No YGRC077 YGRC077 YGRC077 YGRC077 YGRC078 YGRC078 YGRC078 YGRC078 YGRC078 YGRC078 YGRC078 YGRC079 YGRC079 YGRC079 YGRC079 YGRC079 YGRC079 YGRC080 From 39 40 41 42 54 55 56 65 66 67 68 43 44 45 46 47 48 45 To 40 41 42 43 55 56 57 66 67 68 69 44 45 46 47 48 49 46 %TREO 0.14 1.00 3.20 0.04 0.03 0.83 0.10 0.18 2.25 2.12 0.29 0.45 2.95 4.28 1.65 0.92 0.05 0.28 %Nd2O3+Pr6O11 0.04 0.26 0.80 0.01 0.01 0.22 0.03 0.04 0.55 0.55 0.07 0.12 0.75 1.07 0.42 0.24 0.01 0.07 ___________________________________________________________________________________________________ YGRC080 YGRC080 YGRC080 YGRC080 YGRC080 YGRC080 YGRC080 YGRC081 YGRC081 YGRC081 YGRC081 YGRC081 YGRC082 YGRC082 YGRC082 YGRC082 YGRC082 YGRC082 YGRC082 YGRC083 YGRC083 YGRC083 YGRC083 YGRC083 YGRC083 YGRC083 YGRC083 YGRC084 YGRC084 YGRC084 YGRC084 YGRC084 YGRC084 YGRC084 YGRC084 YGRC084 YGRC084 YGRC085 YGRC085 YGRC085 YGRC085 YGRC086 YGRC086 YGRC086 46 47 48 49 50 51 52 47 48 49 50 51 29 30 31 32 33 34 35 59 60 61 62 63 64 65 66 57 58 59 60 61 62 63 64 65 66 50 51 52 53 34 35 36 47 48 49 50 51 52 53 48 49 50 51 52 30 31 32 33 34 35 36 60 61 62 63 64 65 66 67 58 59 60 61 62 63 64 65 66 67 51 52 53 54 35 36 37 2.84 0.61 6.93 2.45 6.25 3.81 0.79 0.03 3.25 2.51 1.73 0.35 0.040 1.474 3.661 1.365 2.709 0.792 0.169 0.239 1.217 4.057 9.441 3.240 3.123 2.093 0.308 0.761 2.213 0.136 3.069 5.028 1.732 1.494 1.608 2.106 0.297 0.047 5.446 0.958 0.208 0.271 1.592 0.566 0.71 0.14 1.60 0.58 1.38 0.89 0.18 0.01 0.78 0.60 0.42 0.08 0.01 0.34 0.91 0.36 0.67 0.21 0.04 0.05 0.30 0.96 2.24 0.77 0.73 0.49 0.07 0.19 0.54 0.03 0.78 1.18 0.39 0.36 0.42 0.49 0.08 0.01 1.30 0.27 0.05 0.07 0.38 0.15 ___________________________________________________________________________________________________ YGRC087 YGRC087 YGRC087 YGRC087 YGRC088 YGRC088 YGRC088 YGRC088 YGRC088 YGRC088 YGRC088 YGRC088 YGRC089 YGRC089 YGRC089 YGRC089 YGRC089 YGRC089 YGRC089 YGRC089 YGRC090 YGRC090 YGRC090 YGRC090 YGRC090 YGRC091 YGRC091 YGRC091 YGRC091 YGRC091 YGRC092 YGRC092 YGRC092 YGRC092 YGRC092 YGRC092 YGRC092 YGRC092 YGRC092 YGRC092 YGRC092 YGRC093 YGRC093 YGRC093 33 34 35 36 32 33 34 35 36 37 38 39 23 24 25 26 27 32 33 34 15 16 17 18 19 23 24 25 26 27 38 39 40 41 42 43 44 45 48 49 50 29 30 31 34 35 36 37 33 34 35 36 37 38 39 40 24 25 26 27 28 33 34 35 16 17 18 19 20 24 25 26 27 28 39 40 41 42 43 44 45 46 49 50 51 30 31 32 0.098 1.683 1.231 0.802 0.829 2.808 2.011 1.899 0.932 0.457 0.823 0.356 0.369 0.809 1.644 1.148 0.045 0.443 1.067 0.508 0.037 1.334 10.540 3.835 0.475 0.165 6.964 4.970 1.692 0.719 0.038 1.017 1.190 3.340 2.967 1.421 0.921 0.745 0.490 1.466 0.553 0.038 1.917 2.914 0.03 0.40 0.30 0.19 0.20 0.69 0.51 0.48 0.24 0.12 0.21 0.09 0.10 0.21 0.42 0.35 0.01 0.11 0.27 0.13 0.01 0.35 2.81 1.05 0.15 0.05 1.81 1.32 0.46 0.19 0.01 0.24 0.33 0.81 0.72 0.35 0.22 0.18 0.12 0.36 0.14 0.01 0.46 0.79 ___________________________________________________________________________________________________ YGRC093 32 33 0.506 0.14 Appendix 3 – Fraser’s Assay Drillhole Parameters Hole No FRRC110 FRRC111 FRRC112 FRRC113 FRRC114 FRRC115 FRRC116 FRRC117 FRRC118 FRRC119 FRRC120 FRRC121 FRRC122 FRRC123 Easting 429974 429902 429936 429973 429914 429944 429991 430002 430033 430059 429921 429866 429821 429750 Northing 7351224 7351197 7351181 7351189 7351151 7351117 7351128 7351157 7351136 7351104 7351082 7351022 7350974 7350879 Dip -90 -90 -90 -90 -90 -90 -90 -90 -90 -90 -90 -90 -90 -90 Depth 54 108 78 60 84 60 66 72 48 48 72 100 120 120 Appendix 4 – Fraser’s Assay details for intervals quoted in announcement Hole No FRRC110 FRRC110 FRRC110 FRRC110 FRRC112 FRRC112 FRRC112 FRRC112 FRRC113 FRRC113 FRRC113 FRRC115 FRRC115 FRRC115 FRRC116 FRRC116 FRRC116 FRRC116 FRRC116 From 42 43 44 45 59 60 61 62 44 45 46 45 46 47 28 29 30 31 32 To 43 44 45 46 60 61 62 63 45 46 47 46 47 48 29 30 31 32 33 %TREO 0.03 1.49 0.55 0.11 0.05 0.58 0.50 0.20 0.02 0.53 0.34 0.03 0.84 0.19 0.04 0.45 0.50 0.33 0.27 %Nd2O3+Pr6O11 0.01 0.64 0.25 0.05 0.01 0.28 0.23 0.09 0.01 0.23 0.15 0.01 0.37 0.09 0.01 0.20 0.25 0.17 0.14 ___________________________________________________________________________________________________ FRRC116 FRRC116 FRRC116 FRRC118 FRRC118 FRRC118 FRRC118 FRRC118 FRRC118 FRRC118 FRRC119 FRRC119 FRRC119 FRRC119 FRRC119 FRRC119 FRRC119 FRRC120 FRRC120 FRRC120 FRRC121 FRRC121 FRRC121 FRRC121 FRRC122 FRRC122 FRRC122 FRRC123 FRRC123 FRRC123 33 34 35 29 30 31 32 33 34 35 30 31 32 33 34 35 36 56 57 58 88 89 90 91 111 112 113 104 105 106 34 35 36 30 31 32 33 34 35 36 31 32 33 34 35 36 37 57 58 59 89 90 91 92 112 113 114 105 106 107 0.34 0.59 0.35 0.04 1.29 0.91 0.33 0.23 0.68 0.32 0.06 1.01 1.26 0.57 3.61 0.53 0.16 0.05 0.55 0.20 0.32 0.64 0.59 0.12 0.01 2.11 0.41 0.37 0.80 0.69 0.18 0.30 0.16 0.02 0.51 0.40 0.16 0.11 0.32 0.16 0.04 0.44 0.60 0.32 1.75 0.26 0.08 0.02 0.24 0.08 0.14 0.26 0.26 0.05 0.00 0.81 0.19 0.14 0.30 0.27 FRRC123 107 108 0.09 0.04 ___________________________________________________________________________________________________ JORC Code, 2012 Edition – Table 1 Section 1 Sampling Techniques and Data (Criteria in this section apply to all succeeding sections.) Criteria JORC Code explanation Commentary Sampling techniques • Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information. Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, facesampling bit or other type, whether core is oriented and if so, by what method, etc). • • Reverse Circulation drilling at the various targets utilised a nominal 5 1/4 inch diameter facesampling hammer. Method of recording and assessing core and chip sample recoveries and results assessed. Measures taken to maximise sample recovery and ensure representative nature of the samples. Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. • Recoveries are recorded by the geologist in the field at the time of drilling/logging. If poor sample recovery is encountered during drilling, the geologist and driller have endeavoured to rectify the problem to ensure maximum sample recovery. Visual assessment is made for moisture and contamination. A cyclone and splitter were used to ensure representative samples and were routinely cleaned. Sample recoveries to date have generally been high, and moisture in samples minimal. Insufficient data is available at present to determine if a relationship exists between recovery and grade. • • • Drilling techniques • Drill sample recovery • • • • • • • Logging • • Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) • • • Reverse circulation drilling for which results are presented in this document was carried out to test the southern, deeper extension to the Yangibana North deposit, and the northern extension to the Fraser’s deposit. The main aim of this programme is to increase the current Measured plus Indicated Resources at Yangibana North and Fraser’s, and to provide material for metallurgical testwork as required Samples from each metre were collected in a cyclone and split using a 3-level riffle splitter. Field duplicates, blanks and Reference Standards were inserted at a rate of approximately 1 in 20. The area tested by this drilling programme includes portions of the current Inferred Resources at Yangibana North and Fraser’s and further extensions beyond these resources. All drill chip samples are geologically logged at 1m intervals from surface to the bottom of each individual hole to a level that will support appropriate future Mineral Resource studies. Logging is considered to be semi-quantitative given the nature of reverse circulation drill chips. All RC drill holes in the current programme are ___________________________________________________________________________________________________ Criteria JORC Code explanation • Subsampling techniques and sample preparation • • • • • • Commentary photography. The total length and percentage of the relevant intersections logged. If core, whether cut or sawn and whether quarter, half or all core taken. If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. For all sample types, the nature, quality and appropriateness of the sample preparation technique. Quality control procedures adopted for all subsampling stages to maximise representivity of samples. Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. Whether sample sizes are appropriate to the grain size of the material being sampled. logged in full. • • • • • Quality of assay data and laboratory tests • • • Verification of sampling and assaying • • • • The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established. The verification of significant intersections by either independent or alternative company personnel. The use of twinned holes. Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Discuss any adjustment to assay data. • • • • • Location of data points • • Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Specification of the grid system used. • The RC drilling rig is equipped with an in-built cyclone and triple tier riffle splitting system, which provided one bulk sample of approximately 25kg, and a sub-sample of 2-4kg per metre drilled. All samples were split using the system described above to maximise and maintain consistent representivity. Most samples were dry. For wet samples the cleanliness of the cyclone and splitter was constantly monitored by the geologist and maintained to avoid contamination. Bulk samples were placed in green plastic bags, with the sub-samples collected placed in calico sample bags. Field duplicates were collected directly from the splitter as drilling proceeded through a secondary sample chute. These duplicates were designed for lab checks as well as lab umpire analysis. A sample size of 2-4kg was collected and considered appropriate and representative for the grain size and style of mineralisation. Genalysis (Perth) was used for all analysis work carried out on the 1m drill chip samples and the rock chip samples. The laboratory techniques below are for all samples submitted to Genalysis and are considered appropriate for the style of mineralisation defined at the Yangibana REE Project: FP6/MS Blind field duplicates were collected at a rate of approximately 1 duplicate for every 20 samples that are to be submitted to Genalysis for laboratory analysis. Field duplicates were split directly from the splitter as drilling proceeded at the request of the supervising geologist. At least two company personnel verify all significant intersections. All geological logging and sampling information is completed firstly on to paper logs before being transferred to Microsoft Excel spreadsheets. Physical logs and sampling data are returned to the Hastings head office for scanning and storage. Electronic copies of all information are backed up daily. No adjustments of assay data are considered necessary. A Garmin GPSMap62 hand-held GPS is used to define the location of the drill hole collars. Standard practice is for the GPS to be left at the site of the collar for a period of 5 minutes to obtain a steady reading. Collar locations are considered ___________________________________________________________________________________________________ Criteria JORC Code explanation • Commentary Quality and adequacy of topographic control. • • Data spacing and distribution • • • Data spacing for reporting of Exploration Results. Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. Whether sample compositing has been applied. • • • Orientation of data in relation to geological structure • Sample security • • Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. The measures taken to ensure sample security. • The results of any audits or reviews of sampling techniques and data. Hole collars were initially laid out at 50m beyond the previous drill coverage in areas considered to have potential to increase the Measured plus Indicated resources of the deposit. Collar locations were varied slightly dependent on access at a given site. Further details are provided in the collar coordinate table contained elsewhere in this report. No sample compositing is used in this report, all results detailed are the product of 1m downhole sample intervals. • Most drill holes in the current programme are vertical (subject to access to the preferred collar position) and as such intersected widths do not represent true thickness. • The chain of custody is managed by the project geologist who places calico sample bags in polyweave sacks. Up to 10 calico sample bags are placed in each sack. Each sack is clearly labelled with: • Hastings Technology Metals Ltd • Address of laboratory • Sample range Samples were delivered by Hastings personnel to the Nexus Logistics base in order to be loaded on the next available truck for delivery to Genalysis. The freight provider delivers the samples directly to the laboratory. Detailed records are kept of all samples that are dispatched, including details of chain of custody. • Audits or reviews to be accurate to within 5m. Collars will be picked up by DGPS in the future. Down hole surveys are conducted by the drill contractors using a Reflex electronic single-shot camera with readings for dip and magnetic azimuth nominally taken every 30m down hole, except in holes of less than 30m. The instrument is positioned within a stainless steel drill rod so as not to affect the magnetic azimuth. Grid system used is MGA 94 (Zone 50) Topographic control is based on the detailed 1m topographic survey undertaken by Hyvista Corporation in 2016. • No audit of sampling data has been completed to date but a review will be conducted once all data from Genalysis (Perth) has been received. Data is validated when loading into the database and will be validated again prior to any Resource ___________________________________________________________________________________________________ Criteria JORC Code explanation Commentary estimation studies. Section 2 Reporting of Exploration Results (Criteria listed in the preceding section also apply to this section.) Criteria JORC Code explanation Commentary Mineral tenement and land tenure status • Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area. • • • The RC drilling to test the southern extension of the current Indicated Resources at Yangibana North that are reported in this document was carried out within M09/159. The RC drilling to test the northern extension of the current Measured and Indicated Resources that are reported in this document was carried out within M09/158. All Yangibana tenements are in good standing and no known impediments exist. Exploration done by other parties • Acknowledgment and appraisal of exploration by other parties. • Both the Yangibana North and the Fraser’s deposits were previously drilled by Hurlston Pty Limited in joint venture with Challenger Pty Limited in the late 1980s. Geology • Deposit type, geological setting and style of mineralisation. • The Yangibana ironstones within the Yangibana Project are part of an extensive REE-mineralised system associated with the Gifford Creek Carbonatite Complex. The lenses have a total strike length of at least 12km. These ironstone lenses have been explored previously for base metals, manganese, uranium, diamonds and rare earths. The ironstones are considered by GSWA to be coeval with the numerous carbonatite sills that occur within Hastings tenements, or at least part of the same magmatic/hydrothermal system. Refer to details of drilling in table in the body of this report and the appendices. • • Drill hole Information • • Data aggregation methods • • A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: o easting and northing of the drill hole collar o elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole o down hole length and interception depth o hole length. If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case. • In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. Where aggregate intercepts incorporate short • All intervals reported are composed of 1m downhole intervals and as such are length weighted. A lower cut-off grade of 0.20%Nd2O3+Pr6O11 has been used for assessing significant intercepts, and no upper cut-off grade was applied. ___________________________________________________________________________________________________ Criteria JORC Code explanation • lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. The assumptions used for any reporting of metal equivalent values should be clearly stated. • These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’). • Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views. Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results. • Appropriate maps and sections are available in the body of this ASX announcement. • Reporting of results in this report is considered balanced. • Geological mapping has continued in the vicinity of the drilling as the programme proceeds. Relationship between mineralisation widths and intercept lengths • Diagrams • Balanced reporting • Other substantive exploration data • Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallur