Brockman JORC Resource

The Brockman Project (the Project) is Australia’s largest Heavy Rare Earths (HREO) Project*, containing significant Dysprosium and Yttrium plus rare metals Niobium and Zirconium resources. The Project is 100% owned by Hastings Technology Metals Limited.

Following the acquisition of the project in December 2010, Hastings completed a 51 hole drilling programme (8,200m) which provided 7 DD and 41 RC intersections of the mineralised zone. These intersections confirmed results achieved by previous explorers in the 1980s and provided deeper intersections of the mineralisation. This enabled a new interpretation of the deposit to be completed (Figures 1 and 2) and allowed new resource estimates to be undertaken.
(*Hastings defines projects exceeding 35%HREO:TREO as being Heavy Rare Earths Projects)

brockman jorc resource 1
 
Figure 1 - Brockman Cross Section 9400mN                                                                                              Figure 2 - Brockman Cross Section 10200mN

 

The drilling completed at the Project site to date has resulted in the definition of JORC compliant resources of 36.2 million tonnes. The total resources are comprised of 27.1 million tonnes of indicated resources and 9.1 million tonnes of inferred resources. The high ratio of indicated resources to total resources (75%) is indicative of the advanced state of progression of the project relative to its peers. A summary of the Hastings Project resources is presented in Table 1 and the distribution of mineralisation is shown in the longitudinal section, Figure 3.


brockman jorc resource 3Table 1 - Summary of Brockman Project JORC Compliant Resources

Brockman jorc resource 2

Figure 3 - Brockman, Longitudinal Section showing resource distribution

The HREO concentration represents 85% of TREO, which is high relative to other projects. Dysprosium represents 9% of the TREO content, but it represents more than half the total value of the contained rare earths. Yttrium and Dysprosium represent 66% of the in-situ value of the REOs.

The high levels of HREOs and higher prices associated with HREOs, particularly Dysprosium and Yttrium, are the key drivers of the value of the Hastings Project, and a major differentiator to other advanced rare earth projects with lower HREO concentrations.