13% Increase In Measured And Indicated Mineral Resources

  • Updated Multi Indicator Kriged (MIK) Mineral Resource estimate has resulted in an uplift to the Mineral Resource classifications of the current economic deposits.
  • Combined Measured and Indicated Mineral Resources increased by 13% or 1.7Mt to 15.1Mt.
  • Increase in Total Rare Earths Oxide (TREO) of 8,200t or 5% to 171Kt in the Measured and Indicated Mineral Resource Categories.
  • Increase in Neodymium and Praseodymium Oxide (Nd2O3+Pr6O11) of 4,000t or 7% to 59Kt in the Measured and Indicated Mineral Resource Categories.
  • Inferred Mineral Resources decreased by 25% or 2.1Mt to 6.2Mt
  • Nd2O3+Pr6O11 Global Grade decreased 0.01% to 0.38%.
  • Global Mineral Resource is now 21.3Mt @ 1.12% TREO and 0.38% Nd2O3+Pr6O11.

Introduction

The Directors of Hastings Technology Metals Limited (ASX: HAS) are pleased to announce a 13% increase in Measured plus Indicated Mineral Resources (for those deposits forming the basis of the Definitive Feasibility released in November 2017) compared to the most recently announced Mineral Resource estimate in November 2018 (ASX announcement titled “INCREASE IN MEASURED AND INDICATED RESOURCES AT YANGIBANA PROJECT” 28 November 2018). Measured plus Indicated Mineral Resources now stand at 15.1Mt within a total Mineral Resource of 21.3Mt. The total updated Measured and Indicated Mineral Resource now hosts approximately 60Kt of neodymium and praseodymium oxide, an increase of 7%, which forms the basis of the Company’s main economic driver.

Charles Lew, Hastings Executive Chairman, said “we are extremely pleased that this work has not only confirmed our existing Mineral Resources but has significantly increased the Measured and Indicated portions which drive Mining Reserves. We are confident that the expected increase in Ore Reserve will extend the mine life which underpins the project financing.”

Download the full ASX Announcement at the link below

September 2019 Quarterly Report

  • DRA Pacific Pty Ltd awarded the Engineering, Procurement and Contract Management (EPCM) Contract for the Yangibana Rare Earths Processing Plant.
  • The scope of works under the DRA Pacific Pty Ltd EPCM agreement has an estimated capital value of circa A$350m
  • WA Minister for Environment has granted the environmental permit for the Yangibana Rare Earths Project.
  • Environmental approval milestone clears the path for remaining permits to be considered leading to construction and development work commencing
  • 5c Water Entitlement License Received with an annual capacity of 1.84GL
  • Pace of design work continues readying for construction

Download Activities Announcement Here:

Download Appendix 5B Cash Flow Announcement Here:

Hastings Technology Sees Rare Earth Opportunities

The Edge Malaysia

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