Join our daily newsletter At The Bell to receive exclusive market insights
- Rare earths producer Hastings Technology Metals (HAS) has received results from a recent drilling program at the Yangibana Rare Earths Project in WA
- Infilling drilling was undertaken at the Yangibana deposit to test extensions to the current mineral resource
- Work was only completed at 50 per cent of the open pit with results confirming mineralisation remains open at depth
- Results peaked at 1.56 per cent total rare earth oxides and they will be used to upgrade the mineral resource which is due to be released this quarter
- Hastings has dropped 9.3 per cent on the market and shares are trading at 19.5 cents
Rare earths producer Hastings Technology Metals (HAS) has received results from a recent drilling program at the Yangibana Rare Earths Project.
Yangibana lies in the Gascoyne region of Western Australia, 250 kilometres northeast of Carnarvon.
Infill drilling was undertaken at the Yangibana deposit to test extensions to the mineral resource of 1.95 million tonnes at 0.88 per cent total rare earth oxides (TREO).
Roughly 48 per cent of the TREO are neodymium and praseodymium, two of the most important and in-demand rare earths for the electric vehicle market.
Of the 35 holes drilled, 34 intersected mineralisation above the TREO lower cut-off used in the mineral resource.
This work only tested 50 per cent of the current open pit with results confirming mineralisation remains open at depth.
Best results include one metre at 1.56 per cent TREO from 53 metres, two metres at 1.19 per cent TREO from 76 metres and seven metres at 1.1 per cent TREO from 74 metres.
“These drill results at the Yangibana deposit further demonstrate the scale and quality of the mineralised system, with width and grade continuity intersected along the entire one kilometre of strike that was tested,” said Chief Operating Officer Andrew Reid.
“Hastings has continued to demonstrate the exploration upside, both near-deposit and regionally, while at the same time progressing the well-funded development pathway at the Yangibana Project,” he added.
These results will be used to upgrade the mineral resource which is due to be released this quarter.
Hastings has dropped 9.3 per cent on the market and shares are trading at 19.5 cents at 2:23 pm AEDT.
