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- Hastings Technology Metals (HAS) receives the last batch of assays from resource definition drilling at the Yangibana project in WA
- Assays come from the Bald Hill and Fraser’s deposits with most holes intersecting rare earth mineralisation greater than 0.24 per cent
- One hole drilled 180 metres southwest of Fraser’s intersected 3.44 per cent TREO which indicates mineralisation is open along strike
- Hastings Technology Metals describes the drilling program as “highly successful” with results to support updated mineral resource and ore reserve estimates later this year
- HAS shares are trading 0.25 per cent higher at $3.94 at market close
Hastings Technology Metals (HAS) has received the last lot of results from its resource definition drilling program at the Yangibana project in Western Australia.
The 170-hole reverse circulation (RC) program targeted the eight-kilometre long Bald Hill – Fraser’s trend which is located near a processing plant to support future production.
Latest results come from the Bald Hill and Fraser’s deposits and have defined strong
mineralisation, according to the company.
Approximately 80 per cent of the holes at Bald Hill and Fraser’s intersected rare earth mineralisation greater than 0.24 per cent total rare earth oxides (TREO), previously estimated as the lower economic cut-off grade.
Assays from Bald Hill include five metres at 3.09 per cent TREO from 32 metres and nine metres at 1.23 per cent TREO from 47 metres.
Drilling at the Fraser’s deposit intersected nine metres at 2.59 per cent TREO from 64 metres.
Hole FRTFB01, drilled as a monitoring bore 180 metres southwest of Fraser’s last drill line intersected five metres at 3.44 per cent TREO from 14 metres, indicating that the Fraser’s mineralisation is open along strike.
The company said this shows potential to add to the Fraser’s deposit’s existing 2200 metres of defined mineralisation.
“The highly successful drilling program along the eight-kilometre Bald Hill – Frasers trend has again shown the tremendous size and scale of this zone in close proximity to the proposed processing plant,” Chief Operating Officer Andrew Reid said.
Hastings said the new results provide encouragement that several of the seven open pits over the strike length between Fraser’s and Bald Hill will merge once a new mineral resource and ore reserve estimate is completed later this year.
HAS shares were trading 0.25 per cent higher at $3.94 at market close.
