Australia’s next rare earths producer Hastings Technology Metals Limited (ASX: HAS) has provided drill results at the Auer deposit, part of the company’s Yangibana rare earths project in Western Australia’s Gascoyne region.
HIGHLIGHTS:
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Final results of successful 2020 Exploration Drill Program at Yangibana return outstanding results from Auer deposit.
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Shallow drill results highlight the continuity of grade mineralisation at Auer, with mineralisation remaining open along strike, down dip and down plunge.
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Step-out holes successfully extended the down-dip extents of Auer and increased the overall mineralised envelope thickness.
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29 holes for 2,186m of drilling were completed in the northern portions of Auer mineralised trend.
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High-grade intersections from Auer included:
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5m @ 1.86% TREO from 78m;
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4m @ 1.64% TREO from 92m; and
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9m @ 0.78% TREO from 84m.
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Auer is approximately 10km from Yangibana’s processing plant location and will be an important source of ore during the initial years of production.
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Auer has an existing JORC Mineral Resource of 2.76Mt @ 1.00% TREO.
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Auer assays will be included into the overall Yangibana Project Mineral Resource Estimate upgrade, currently in progress.
The return of assays from the Auer drilling program completes the results from the Company’s hugely successful 2020 Exploration Drill Program at Yangibana, which has successfully extended and expanded the rare earths mineralised resource footprint.
Auer, which has a Measured, Indicated and Inferred Resource of 2.76Mt @ 1.00% TREO, is one of several deposits that underpin the Yangibana Project.
Along with earlier announced results from the drilling program, the Auer assays will be incorporated in the Yangibana Project Mineral Resources Estimate upgrade, which is due to be completed this quarter.
The Auer phase of drill spacing successfully demonstrated remarkable consistency within holes and strong continuity of mineralisation between holes. Drilling targeted down-dip mineralised extensions at depth, with most holes intersecting economic intercepts.
These infill drilling program results will be assessed over coming weeks to enable a robust resource estimate targeting a high level of JORC 2012 Indicated category resources by the end of the March 2021 Quarter. It is expected that the Indicated resources will have sufficient information on geology and grade continuity to support Yangibana Project mine planning.
Auer is becoming a strong future target with 3km of mineralisation already defined, which appears to be parallel and geologically similar to the 8km-long Bald Hill-Simons Find-Frasers trend that was a major feature of the 2020 Exploration Drill Program.
Hastings Technology Metals Chief Operating Officer Andrew Reid commented:
“These latest results highlight the continuity of shallow, high-grade mineralisation at the northern end of the Auer deposits and the presence of a much larger mineralised envelope, up to 12m thick and potentially indicative of the presence of a larger mineralised system.
“We are excited by what we are seeing at Auer and look forward to incorporating these latest results in the Yangibana Project’s Mineral Resources Estimate update, which is due later this quarter and will be a key step on our journey towards beginning development of this rare earths project.”
