Brockman JORC Resource

The Brockman Project (the Project) is Australia’s largest Heavy Rare Earths (HREO) Project*, containing significant Dysprosium and Yttrium plus rare metals Niobium and Zirconium resources. The Project is 100% owned by Hastings Technology Metals Limited.

Following the acquisition of the project in December 2010, Hastings completed a 51-hole drilling programme (8,200m) which provided 7 DD and 41 RC intersections of the mineralised zone. These intersections confirmed results achieved by previous explorers in the 1980s and provided deeper intersections of the mineralisation. This enabled a new interpretation of the deposit to be completed (Figures 1 and 2) and allowed new resource estimates to be undertaken.

In November 2015 a JORC Indicated Resource of 5.2 million tonnes at 2200ppm TREO including 1800ppm HREO plus 3900ppm Nb2O5 and 9500ppm ZrO2 was estimated for the Southern Extension.

The HREO concentration represents 85% of TREO, which is high relative to other rare earths projects.

*Hastings defines projects exceeding 35%HREO:TREO as being Heavy Rare Earths Projects.

Figure 1 – Brockman Cross Section 9400mN

Figure 2 – Brockman Cross Section 10200mN

The high levels of HREOs and the high niobium content are the key drivers of the value of the Brockman Project, and a major differentiator to other advanced rare earths projects with lower HREO concentrations. This differentiates the Hastings Project from other rare earths projects.

ZoneCategoryOxide/
Primary
Tonnes
(*000)
ZrO2
ppm
Nb2O5
ppm
TREO
ppm
HREO
ppm
MainIndicatedOxide1,4008,8603,5102,1501,830
IndicatedPrimary25,4008,9103,5502,1001,800
H/WallIndicatedPrimary3009,0803,6302,1301,770
Sthn ExtIndicatedMixed5,2009,5003,9002,2001,800
TotalIndicated32,3009,0103,6002,1201,800
Nth
Extension
InferredOxide2508,8603,5102,1501,830
InferredPrimary2,1008,91o3,5502,1001,800
Main DeepInferredPrimary6,7508,9103,5502,1001,800
TotalInferred9,1008,9103,5502,1001,800
Total41,4008,9903,5902,1001,800

Table 1 – Summary of Brockman Project JORC Compliant Resources

Figure 3 – Brockman, Longitudinal Section showing resource distribution

Exploration Potential

Further drilling could increase the resources at the Southern Extension where the majority of the intersections exceed the average grade of the defined resources further north in the Main Zone.

The increased grades for both the rare earths and the rare metals and the potential to increase the defined JORC resource clearly enhance the economics of the Brockman Project.

Rare earths have been defined by limited drilling at Levon and Haig prospects but neither hosts elevated rare metals values.

There is potential to define higher grade portions of the deposit that could be amenable to shallow open pit mining followed by underground mining.

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