New studies have helped Hastings Technology Metals Limited (ASX: HAS) record a 13% increase in Measured plus Indicated Mineral Resources for the Yangibana Rare Earths Project in Western Australia.
The Projects’ Measured plus Indicated Mineral Resources now stand at 15.1Mt within a total Mineral Resource of 21.3Mt.
Executive Chairman Charles Lew said the total updated Measured and Indicated Mineral Resource now hosts approximately 60Kt of neodymium and praseodymium oxide, an increase of seven per cent, which forms the basis of the company’s main economic driver.
“We are extremely pleased that this work has not only confirmed our existing Mineral Resources but has significantly increased the Measured and Indicated portions which drive Mining Reserves,” Mr Lew said.
We are confident that the expected increase in Ore Reserve will extend the mine life which underpins the project financing.”
Hastings has completed eight drilling programmes comprising both reverse circulation (RC) and diamond drilling totalling more than 1,500 holes for 80,000m. Of these 127 holes for 7,485m are diamond holes.
Holes were initially drilled at 50m spacings along strike and down dip. Infill drilling in areas with Mineral Resource potential has been undertaken at 37.5m, or less, spacing.