Hastings Technology Metals (ASX:HAS,OTC Pink:HSRMF) shared a maiden resource estimate for its flagship Western Australia-based Yangibana rare earths and niobium project on Wednesday (September 4).
In a press release, the company reported a measured and indicated niobium pentoxide resource of 6.74 million tonnes at 2,305 parts per million for 15,501 tonnes of niobium pentoxide.
Hastings describes niobium as a key metal for technology, noting that it can make steel lighter and stronger, and can be used in high-tech alloys and for faster recharging of lithium-ion batteries.
Currently about 90 percent of global niobium production comes out of Brazil.
Yangibana’s Bald Hill and Simon’s Find deposits are included in the resource estimate, with niobium pentoxide concentrations occurring in the form of ferrocolumbite, a mineral with a high niobium content.
“The maiden Niobium Mineral Resource Estimate is an important step towards providing a multi-commodity recovery process stream and by-product credit income,” said Dr Louis Schürmann, chief geologist of Hastings.
The company also highlights Yangibana’s liberation potential and opportunities for tailings recovery, and notes that Bald Hill and Simon’s Find are near the area where it plans to construct a process plant.
“Hastings have been working closely with its partners to optimise the Yangibana process plant for rare earth recovery. Hastings see another opportunity at Yangibana to include an additional Niobium recovery circuit,” said COO Tim Gilbert.
“Initial test work indicates a relatively simple circuit comprising magnetic separation and float circuit, positioned after and in series with the rare earths circuit, to recover Niobium and Zircon/hafnium concentrates in two streams.”
Located approximately 250 kilometres northeast of Carnarvon in Western Australia, Yangibana hosts the Gifford Creek carbonatite, which Hastings said is an important depository of rare earths and critical metals.
The project was discovered in 2014 and has been progressing since, with the Northern Australia Infrastructure Facility granting Hastings a AU$220 million loan in 2022 to advance the asset.
Hastings expects to start production at Yangibana in 2026.
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Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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