Yangibana Mineral Resource Report 2019
Perth, Nov 24, 2020 AEST (ABN Newswire) – Hastings Technology Metals Ltd (ASX:HAS) (FRA:5AM) announces that the Yangibana Mineral Resource Report 2019 has been lodged with the ASX to support tenement applications in Western Australia as required by the Government of Western Australia Department of Mines, Industry Regulation and Safety.
The Company confirms that it is not aware of any new information or data that materially affects the information included in the announcement of 31 October 2019 and, in the case of mineral resources or ore reserves, all material assumptions and technical parameters underpinning the estimates in that announcement continue to apply and have not materially changed.
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About Hastings Technology Metals Ltd
Hastings Technology Metals Ltd (ASX:HAS) (FRA:5AM) is advancing its Yangibana Rare Earths Project in the Upper Gascoyne Region of Western Australia towards production. The proposed beneficiation and hydro metallurgy processing plant will treat rare earths deposits, predominantly monazite, hosting high neodymium and praseodymium contents to produce a mixed rare earths carbonate that will be further refined into individual rare earth oxides at processing plants overseas.
Neodymium and praseodymium are vital components in the manufacture of permanent magnets which is used in a wide and expanding range of advanced and high-tech products including electric vehicles, wind turbines, robotics, medical applications and others. Hastings aims to become the next significant producer of neodymium and praseodymium outside of China.
Hastings holds 100% interest in the most significant deposits within the overall project, and 70% interest in additional deposits that will be developed at a later date, all held under Mining Leases. Numerous prospects have been identified warranting detailed exploration to further extend the life of the project.
The Brockman deposit, near Halls Creek in Western Australia, contains JORC Indicated and Inferred Mineral Resources, estimated using the guidelines of JORC Code (2012 Edition).
The Company is also progressing a Mining Lease application over the Brockman Rare Earths and Rare Metals Project.
Hastings aims to capitalise on the strong demand for critical rare earths created by the expanding demand for new technology products.