Hastings Technology Metals Ltd: Half Yearly Report and Accounts

Perth, Australia - At the end of the period under review, Hastings Technology Metals Ltd. (ASX:HAS) (FRA:5AM) reported a significant increase in the measured and indicated portions of the global Geological Resources. Combined Measured and Indicated Resources increased by 13% or 1.7Mt to 15.1Mt.

An increase in the Probable Ore Reserves at the Yangibana Project was also announced with total Probable Ore Reserves increasing to 12.20 million tonnes at 1.13%TREO including 0.40%Nd2O3+Pr6O11, an 18% increase in ore reserve tonnes compared to the previous announced ASX release entitled "Reserves Increase by 34% to 10.35MT covering 10 Years" dated 29 January 2019.

The updated Ore Reserve of 12.20 million tonnes represents an 18% tonnage increase compared to the previously announced mining reserve, which was the result of a successful geological re-interpretation of the mineralisation delineating the ore deposits.

A significant increase in the Measured and Indicated Mineral Resources was generated through the re-interpretation and re-estimation process of the Mineral Resources. This process brought mineralisation previously un-classified and uneconomic from outside of the original geological wireframes inside of the new wireframes, as announced in ASX Release "13% Increase in Measured and Indicated Mineral Resources" dated 31 October 2019.

The resultant Mineral Resource upgrading has extended the mine life from 11 years to 13 years. The extension to mine life is underpinned by increases in the Ore Reserves of all economic pits, in particular the closest pits to the processing plant, Bald Hill and Frasers Pits. The Bald Hill pit alone represents over 40% of the Total Ore Reserves and supplies feed to the processing plant for almost 9 of the 13 years of mine life.

To view the report, please visit:
https://abnnewswire.net/lnk/3G4BA1JM

About Hastings Technology Metals Ltd:

Hastings Technology Metals Ltd. (ASX:HAS) is a leading Australian rare earths company, with two rare earths projects hosting JORC-compliant resources in Western Australia.

- The Yangibana Project hosts Probable Reserves totaling 5.15 million tonnes at 1.12% TREO including 0.45% Nd2O3+Pr6O11 within JORC Resources totalling 21.0 million tonnes at 1.17% TREO (comprising Measured Resources of 3.9 million tonnes at 1.19% TREO, Indicated Resources of 8.6 million tonnes at 1.25% TREO and Inferred Resources of 8.4 million tonnes at 1.09% TREO), including 0.40% Nd2O3+Pr6O11.

- The Brockman deposit contains JORC Indicated and Inferred Resources totalling 41.4 million tonnes (comprising 32.3mt Indicated Resources and 9.1mt Inferred Resources) at 0.21% TREO, including 0.18% HREO, plus 0.36% Nb2O5 and 0.90% ZrO2.

- Rare earths are critical to a wide variety of current and new technologies, including smart phones, electric vehicles, wind turbines and energy efficient light bulbs.

- The Company aims to capitalise on the strong demand for rare earths permanent magnets created by expanding new technologies.

Source:

Hastings Technology Metals Ltd.

Contact:

Charles Lew Chairman T: +65-9790-9008 /+61-8-6117-6118 Valerie Quay Legal Counsel & Business Planning T: +65-9781-3220