Australia’s next rare earths producer Hastings Technology Metals Ltd (ASX: HAS) has announced first results from the 2021-22 resource definition drilling program completed at the company’s world-scale Yangibana project, in WA’s Gascoyne region.
Results for approximately 46% of the samples submitted from the reverse circulation drilling program have been analysed. The program targeted the 8km-long Bald Hill – Simon’s Find – Fraser’s trend, which is near the site of the proposed process plant and vital for the high-grade feed required upon project start-up.
The drilling program is part of Hastings’ pre-development activities and will feed into an updated Yangibana mineral resource, due in the second half of this year.
On Tuesday, Hastings announced the first construction blast at Yangibana, a a major step in the project’s $658 million development. The blast represented the start of the next phase of infrastructure development works, which will include completion of key enabling packages such as the main access road, airstrips, accommodation village and site communication link to enable EPCM commencement in the second half of this year.
The resource definition drilling extended mineralised zones at Yangibana, with some wide, high-grade intersections (high NdPr content) reinforcing the exceptional resource quality. The drilling successfully infilled inferred mineralised zones as well as defined extensions down dip outside of the current mineral resource envelope.
Results within the Simon’s Find deposit area contained an average NdPr:TREO composition of 50%, with hole FRC222 composed of 57% NdPr in TREO.
Other results returned to date from Fraser’s deposit and Simon’s Find included:
- 6m @ 2.01% TREO from 90m
- 7m at 1.47% TREO from 65m
- 11m at 0.75% TREO from 53m
- 10m at 0.71% TREO from 88m
“The results of this drilling program give us further confidence in the expanded size potential for Yangibana, which could lead to further significant growth in mineral resources in the future,” Hastings Technology Metals chief operating officer Andrew Reid said.
“The Bald Hill – Simon’s Find – Fraser’s trend is turning into a super trend of rare earth mineralisation, with its proximity to the process plant site as critical start-up feed. The exceptional 50% NdPr content in the Simon’s Find results coupled with a strong rare earths price environment will possibly increase Yangibana’s ore reserves and mine life.”