Hastings Rare Metals finds Higher Grades than Defined Resource

Rare Earth Deposits & Mining / Rare Earth Exploration, Mining, Processing, & Uses

Date posted: 08/14/14

Hastings Rare Metals has found grades of heavy rare earths significantly higher than the defined resource at Hastings in Western Australia from extensional drilling. The average for the defined JORC resource is 1,800 ppm HREO while from current drilling grades range from 1,935 ppm to 2,300 ppm. Intersection lengths are comparable to those in the defined resource. Dysprosium oxide grades are 10-35 per cent higher than the defined JORC resource. Niobium oxide values are up to 40 per cent higher than the defined JORC resource. Best intersections of total rare earths oxides - TREO - and heavy rare earths oxides - HREO include 29 m at 2,475 ppm TREO with 2,120 ppm HREO and 63 metres at 2,270 ppm TREO. Drilling at the Levon and Haig targets also returned wide intervals of encouraging rare earths values. Composite samples from Levon and Haig were collected pending preliminary test work and a review of results will then be made to determine what further work is warranted. The results from the three targets tested, Southern Extension, Levon and Haig are very useful going forward for the potential of the Hastings Project.