Hastings Technology Metals Ltd (ASX:HAS) has increased the total probable ore reserve at its Yangibana Neodymium-Praseodymium Project in WA to 10.35 million tones, extending mine life by 3 years and supporting a 10 year operational life.
The project is designed to treat 1 million tones per annum of ore with a processing plant that can produce up to 15,000 tonnes of mixed rare earth carbonate per annum.
The updated ore reserve also increase the project’s net present value to $516 million confirming outstanding project economics.
Deposits upgraded to ore reserves
The Yangibana tenements comprise a number of ore deposits that have been upgraded to ore reserve status and numerous prospects that have received little evaluation to date.
The deposits with ore reserves include:
Bald Hill;
Fraser’s;
Auer North;
Yangibana; and
Yangibana West.
Yangibana North and the eastern extremity of Yangibana are within tenements in which Hasting’s holds 70% interest.
Optimisation software
The mining reserve estimated used Whittle pit optimisation software to maximise ore recovery using conventional drill and blast and load and haul mining methods.
The updated mining plan includes seven deposits in different degrees of weathering with each of the deposits by:
An upper horizon comprising saprolite that does not require blasting;
A transition zone of decreasing alteration that will require blasting; and
Deeper, fresh granite that will require blasting.
Previous exploration work
Since acquiring an interest in the project in 2012, the company has completed exploration programs including mapping, rock chip sampling, topographic and aerial photo surveys, and hyperspectral survey and interpretations.
Eight phases of drilling including reverse circulation and diamond drilling have been completed with more than 1,500 holes for 80,000 metres.
Each phase of drilling has increased the JORC resources of the various deposits and provided samples for metallurgical test work.
- Jessica Cummins