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Hastings Technology Metals (ASX:HAS) - Executive Chairman, Charles Lew - The Market Herald
Executive Chairman, Charles Lew
Source: Miningscout
  • Hastings Technology Metals (HAS) has confirmed a two-kilometre-long zone of mineralisation at the Simon's Find deposit in WA
  • Reverse circulation (RC) drilling was recently undertaken with aims to target ironstone rocks hosting rare earths
  • Results confirm that Simon's Find contains significantly high quantities of neodymium and praseodymium which are required for electric vehicles and automation
  • Of the 96 holes, 83 reported significant intercepts with grades peaking at 2.78 per cent total rare earth oxides
  • As a result, the Fraser's - Simon's Find - Bald Hill trend now forms an eight kilometre-long mineralised corridor and Hastings will undertake drilling in this area
  • Shares in Hastings last traded for 13.5 cents each in morning trade

Hastings Technology Metals (HAS) has confirmed a two-kilometre-long zone of mineralisation at the Simon's Find deposit.

Simon's Find is situated within the Yangibana Rare Earths Project which lies 250 kilometres northeast of Carnarvon in Western Australia and covers an area of 650 square kilometres.

Reverse circulation (RC) drilling was recently undertaken with aims to target ironstone rocks hosting rare earths.

Results confirm that Simon's Find contains significantly high quantities of neodymium and praseodymium.

Both of these are recognised as the two most important rare earth elements required for electric vehicles, renewable energy projects, and automation.

High-grade results from Simon's Find include two metres at 2.78 per cent total rare earth oxides (TREO) from 46 metres, and seven metres at 0.98 per cent TREO from 31 metres including two metres at 1.76 per cent TREO.

Of the 96 holes, 83 (or 86 per cent) reported significant intercepts.

As a result, the Fraser's - Simon's Find - Bald Hill trend now forms an eight kilometre-long mineralised corridor.

Hastings believes potential exists for this trend to host significant rare earths as this zone has only been lightly drilled reaching between 40 to 70 metres below surface.

"Hastings has now defined and delivered a single coherent zone of economic mineralisation trending more than eight kilometres in length from Fraser's through to Simon's Find and Bald Hall, with further upside in all areas along this zone to the north, south and at depth," Executive Chairman Charles Lew commented.

"The success at Simons's Find comes amid a busy period for Hastings as we advance Yangibana's development by concluding more offtake contracts and settling on a coastal site for our project's hydrometallurgical plant," he said.

"Hastings will now start the process of collating the drilling information to define a new mineral resource for Simon's Find," he added.

Shares in Hastings last traded for 13.5 cents each in morning trade.


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