Hastings Technology Metals Ltd: Grade Control Results Confirm Bald Hill Mineral Resource

Perth, Australia - Australia's next rare earths producer, Hastings Technology Metals Ltd. (ASX:HAS) (FRA:5AM), is pleased to announce results from the Bald Hill grade-control drilling campaign, completed as part of the 2020 Drilling Program at its Yangibana Rare Earths Project (Yangibana) in Western Australia's Gascoyne region.

Highlights

- Grade-control drilling comprising 257 holes for 5,002m has been completed at Bald Hill, the largest deposit at the Yangibana Rare Earths Project and containing approximately 39% of the Yangibana Project's total Mineral Resources.

- Correlation of tonnes, grades and total rare earth oxides (TREO) between the Yangibana Project Mineral Resource Upgrade (announced 5 May 2021) and the trial grade control model has been completed.

- The strong reconciliation confirms and exceeds the results for the same area from the Bald Hill Mineral Resource estimate by delivering:
o 6% more TREO; and
o 9% more resource tonnes

- Drilling results provide Hastings with significantly increased confidence in the target area earmarked for first Yangibana Project mine production and allow for more accurate delineation of ore and waste boundaries, with Bald Hill drill intercepts including;
o 7m @ 2.73% TREO from 5m, GC0434
o 4m @ 3.15% TREO from 10m, GC0291
o 5m @ 2.65% TREO from 12m, GC0268
o 5m @ 2.39% TREO from 8m, GC0312.

- The Yangibana Project's Mineral Resource estimate stands at 27.42Mt @ 0.97% TREO for 266kt of rare earth oxides (ASX Announcement 5 May 2021).

The grade control drilling campaign (Figure 2*) was designed to test-drill a shallow area of mineralisation at the Bald Hill deposit, with all holes drilled to a targeted level below the natural surface. A close-spaced reverse circulation (RC) drill pattern of 5mE x 7mN was completed, with 257 holes for 5,002m being drilled.

This campaign targeted a zone within the first 20m (eight mining benches) from surface, containing enough material to define short-term mine planning at the start of production for a two-month period. Table 1* shows the comparison between the Bald Hill Mineral Resource estimate and the grade-control model within the area of the grade-control drilling.

The comparison suggests a slight increase in both tonnes and contained metal with only a minor loss of grade for both TREO and Nd2O3 + Pr6O11. The Mineral Resource estimate for Bald Hill used for this comparison was previously announced to the ASX by the Company on 5 May 2021 (see ASX announcement Yangibana Project updated Measured and Indicated Mineral Resources tonnes up by 54%, TREO oxides up 32%).

A grade tonnage comparison between the grade-control model and the Mineral Resource estimate is shown in Figure 1* and indicates a strong correlation between both estimates. It should be noted that because the grade-control drilling was sampled in its entirety, there is more definition in the low-grade tail than what appeared in the Mineral Resource estimate due to the selective nature of the exploration sampling.

Commenting on the results of the grade-control drilling at Bald Hill, Hastings Technology Metals' Chief Operating Officer Andrew Reid said: "The reconciliation provides confidence that close-spaced, grade-control drilling reflects our Mineral Resource estimates, which further mitigates the start-up risk for our Yangibana Rare Earths Project. "These initial results indicate the potential for more tonnage and more contained rare earth oxides within the Bald Hill starter pit, which potentially reduces the strip ratio at the beginning of the mine life, as well as providing substantially more data to optimise mine planning. "The strong continuity of mineralisation defined by the grade-control drilling at the start of the mine life provides a high level of confidence during mine start-up."

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/52UF4KY8

About Hastings Technology Metals Ltd:

Hastings Technology Metals Ltd. (ASX:HAS) 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.

Brockman 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.

Source:
Hastings Technology Metals Ltd.

Contact:

Charles Lew Chairman T: +65-6220-9220 /+61-8-6117-6118 Andrew Reid Chief Operations Officer T: +61-487-888-787