Perth, Australia – Australia’s next rare earths producer Hastings Technology Metals Limited is pleased to announce excellent drill results at the Yangibana deposit from the Company’s 2020 Exploration Drilling Program across the world-class Yangibana Rare Earths Project in Western Australia’s Gascoyne region. The Yangibana deposit and open pit one of several at the Yangibana project, has a Measured, Indicated and …

Perth, Australia (ABN Newswire) – Australia’s next rare earths producer Hastings Technology Metals Limited (ASX:HAS) (FRA:5AM) is pleased to announce excellent drill results at the Yangibana deposit from the Company’s 2020 Exploration Drilling Program across the world-class Yangibana Rare Earths Project (Yangibana Project) in Western Australia’s Gascoyne region.

The Yangibana deposit and open pit (Figure 1.*) one of several at the Yangibana project, has a Measured, Indicated and Inferred Resource of 1.95Mt @ 0.88% TREO.

Drilling at the Yangibana deposit, part of the Yangibana Rare Earths Project, extends mineralisation at depth which remains open, with further follow- up drilling planned.

– 3,331m of drilling was completed to in-fill portions of the Mineral Resource model.

– 34 out of the 35 holes drilled intersected mineralisation above the TREO lower cut-off used in the Mineral Resource estimation process.

– Results demonstrate geological continuity of grades at depth along the entire 1,000m of strike covered by the drilling.

– The Yangibana deposit has a JORC Mineral Resource of 1.95Mt @ 0.88% TREO, with 48% of the TREO reported as neodymium and praseodymium – underscoring the high value, world-class geology at Yangibana.

– High-grade intersections from Yangibana included:

o 1m @ 1.56% TREO from 53m
o 2m @ 1.19% TREO from 76m
o 7m @ 1.10% TREO from 74m
o 3m @ 0.96% TREO from 95m
o 6m @ 0.81% TREO from 66m

– The Yangibana deposit sits within a 20km-long corridor of rare earths mineralisation that is well defined and under explored.

– The Yangibana deposit assay results will be included into the overall Yangibana Project Mineral Resource Estimate upgrade due this Quarter.

The infill drilling program was designed to plug existing gaps and test extensions to the Mineral Resource model at depth (Figure 2.*). Approximately 48% of the Yangibana deposit’s total rare earth oxides (TREO) are neodymium (Nd2O3) and praseodymium (Pr6O11), the two most important and in-demand rare earths globally. These levels of Nd2O3 + Pr6O11 are considered world class and underscore the value of the Yangibana project. Nd2O3 + Pr6O11 are considered the two vital and key rare earth elements required for the rapidly expanding electric vehicle market.

At the Yangibana deposit, 35 drill holes tested approximately 1,000m or 50% of the length of the currently defined open pit. Results as presented in Figure 2 confirm that mineralisation remains open at depth, with the deepest hole intersecting the orebody some 100m vertically below surface.

The current 2km length of the Yangibana deposit sits within a 20km-long rare earths geological structure across the Yangibana project that is well defined through surface geological mapping and geophysical surveys. Substantial exploration upside exists along the entirety of this structure.

Hastings is not aware of any new information or data that materially affects the information in this market announcement. In the case of estimates of ‘mineral resources’ or ‘ore reserves’, all material assumptions and technical parameters underpinning the estimates in this market announcement continue to apply and have not materially changed. Mineral resource comprises 1.53Mt Indicated and 0.42Mt inferred.

Hastings Technology Metals Chief Operating Officer Andrew Reid commented:

“These drill results at the Yangibana deposit further demonstrate the scale and quality of the mineralised system, with width and grade continuity intersected along the entire 1km of strike that was tested. The Yangibana deposit sits within a much broader 20km-long rare earth structure across the broader Yangibana Project area that has significant additional potential.

“Hastings has continued to demonstrate the exploration upside, both near-deposit and regionally, while at the same time progressing the well-funded development pathway at the Yangibana Project. As the Mineral Resources continue to grow, we are preparing for the start of early-stage construction activities.”

Sampling

Samples were sent to Genalysis Intertek in Perth for analysis using techniques considered appropriate for the style of mineralisation. Samples were analysed for the range of rare earths, rare metals (Nb, Ta, Zr), thorium and uranium and a range of common rock-forming elements (Al, Ca, Fe, Mg, Mn, P, S, Si, Sr).

Once assay data were returned, the elemental values were converted to oxides using standard factors.

2020 Exploration Drilling Program Continues to Deliver

Hastings commenced the 2020 drilling program with a Reverse Circulation (RC) drilling rig mobilised to site in mid-June last year. The program was completed in the December 2020 Quarter and designed to achieve three goals:

– Validate the existing Bald Hill Deposit Mineral Resource Estimates with close-spaced grade-control drilling;

– Increase the Yangibana Project’s Measured and Indicated Mineral Resource; and

– Obtain core samples for additional metallurgical test work and ore characterisation studies.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/W9E0Y090

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

News Provided by ABN Newswire via QuoteMedia

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Perth, Australia – Australia’s next rare earths producer Hastings Technology Metals Ltd is pleased to announce that it has received the commendation of Premier Mark McGowan and the Western Australian Government for the Company’s development of the Yangibana Rare Earths Project in the State’s Gascoyne region. Premier McGowan said Hastings’ development of Yangibana was expressly aligned with the State’s Future Battery …

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Premier McGowan said Hastings’ development of Yangibana was expressly aligned with the State’s Future Battery Industry Strategy, which aims to expand the range of future battery minerals that are extracted and processed in Western Australia. Appendix 1 provides a copy of the public commendation that Hastings has received.

The Premier’s commendation follows the West Australian Department of Jobs, Tourism, Science and Innovation (JTSI) acknowledging that the Yangibana Project represents a strategic opportunity for investment and growth to position the State as a reliable supplier of speciality rare earth minerals.

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Australia took a stand against Facebook and Google earlier this year, and the move could have long-term implications for tech investors.

It was a ban that sent Australians wild and had the whole world watching.

Back in February, Facebook (NASDAQ:FB) stopped users in Australia from posting news in a week-long blackout, reacting to proposed legislation that would have forced the social media behemoth to pay publishers for content.

What prompted Facebook to "friend" Australia again, and what are the potential long-term implications of the squabble? Read on to learn what tech-focused investors in Australia should know about the situation.


Australia squares off against Facebook

On February 25 of this year, Australia's federal government passed the News Media and Digital Platforms Mandatory Bargaining Code. It was developed after extensive analysis by the Australian Competition and Consumer Commission, and is aimed at ensuring that news media businesses are fairly remunerated for their content.

It stipulates that digital platforms such as Facebook and Google (both named in the documentation) must pay news outlets whose content they feature — for example, if content is shared on Facebook or shows up in Google search results. The idea is that this will help to sustain journalism in Australia.

Unsurprisingly, Facebook and Google didn't react well to the code, which was first introduced in 2020.

Google didn't make any moves after it passed, but Facebook quickly made it impossible for Australian users to share news content, and pages for both local and international news organisations went blank — a major concern given the COVID-19 and wildfire concerns that were circulating at the time.

Australian Prime Minister Scott Morrison was scathing about Facebook's decision — which he ironically shared in a Facebook post — declaring the tech giant's actions "as arrogant as they were disappointing." He added, "These actions will only confirm the concerns that an increasing number of countries are expressing about the behaviour of BigTech companies who think they are bigger than governments and that the rules should not apply to them."

Despite strong feelings from both Australia and Facebook, the dispute was resolved fairly quickly, with the country agreeing to make four amendments to the legislation and Facebook restoring Australian's access to news.

Implications for Big Tech and news organisations

Both Australia and Facebook have claimed victory in the dispute, with a Facebook representative saying the company will be able to decide if news appears on the platform — meaning it won't automatically have to negotiate with any news businesses. Changes were also made to the arbitration process.

Tech experts have pointed out that larger news companies may ultimately benefit from the changes, but smaller ones could be pushed to the side. Major publishers that have struck agreements with tech giants, such as News Corp, Nine Entertainment (ASX:NEC,OTC Pink:NNMTF), Seven West Media (ASX:SWM) and Guardian Australia, may be able to increase their market share while smaller independent players lose out.

A business that is in full support of the laws is Microsoft (NASDAQ:MSFT). During the conflict, President Brad Smith came out loudly in favour of Australia's law, and advised that his company is willing to step up with search engine Bing should Google and/or Facebook pull out of the Australian market.

"In Australia, Prime Minister Scott Morrison has pushed forward with legislation two years in the making to redress the competitive imbalance between the tech sector and an independent press. The ideas are straightforward. Dominant tech properties like Facebook and Google will need to invest in transparency, including by explaining how they display news content," he said in a blog post.

"The United States should not object to a creative Australian proposal that strengthens democracy by requiring tech companies to support a free press. It should copy it instead."

Global reach and tech investor impact

Six months down the road from Australia's landmark legislation, it's tough to say what the long-term impact may be.

That said, market watchers do believe the country is part of a new precedent of forcing Big Tech into paying for journalism — something giants Facebook and Google are not used to.

Countries looking to pursue similar legislation include Canada, where Facebook agreed in May to pay 14 publishers to link to their articles on its COVID-19 and climate science pages, as well as other unspecified use cases. Canada is pursuing other avenues too. Meanwhile, in France, Google said it will pay publishers for news content after the country took up new EU copyright laws that make digital platforms liable for infringements.

For investors, the takeaway is perhaps that while companies like Facebook and Google may seem too big too fail, they too can fall subject to new regulations that can change how they do business. As nations around the world look to take back control from these mega companies, it's important to be aware of possible effects on their bottom lines.

Don't forget to follow @INN_Australia for real-time updates!

Securities Disclosure: I, Ronelle Richards, hold no direct investment interest in any company mentioned in this article.

Queensland is the 16th most attractive jurisdiction in the world, sneaking in above BC and the Yukon in Canada, and just behind New Mexico in the US.

Queensland is one of the top three Australian jurisdictions for copper.

While it's well behind South Australia, a behemoth in the country for resources and production, Queensland hosts some 12 percent of all known Australian copper deposits, level with its southern neighbour New South Wales.

A premier mining jurisdiction globally, Queensland is ranked third out of all Australian jurisdictions for mining investment attractiveness, according to the Fraser Institute. Globally, it's ranked as the 16th most attractive jurisdiction, sneaking in above BC and the Yukon in Canada, and just behind New Mexico in the US.


The state is renowned for its mining prowess in Australia, and is known as one of the resource states, with a large chunk of its economic heft coming from the mining industry and its operations across the vast state.

Overall, mining accounts for 11.7 percent of Queensland's economy, with coal and liquefied natural gas being the primary focus of output. Together, coal, gas and mineral exports account for over 80 percent of Queensland's exports, according to the state government.

Having said that, copper plays a large role, and Queensland is home to the second biggest producer of copper in Australia in the form of Glencore's (LSE:GLEN,OTC Pink:GLCNF) Mount Isa mining complex in the northwest of the state. There, Glencore owns and operates the Enterprise and X41 mines.

Aside from Mount Isa, Glencore owns the nearby Ernest Henry copper mine. Combined, Glencore's Queensland operations produced 138,800 tonnes of copper in 2020 — accounting for a little over 10 percent of the company's global copper production. Glencore isn't listed on the ASX, but can be found on the LSE.

Besides the Mount Isa complex itself, there's also a handful of other operational mines in the northwestern portion of the state, although most of them are privately owned, such as the Capricorn copper project, which is a joint venture between EMR Capital and Lighthouse Minerals; it secured itself "prescribed project" status in 2017.

Other privately owned projects include Round Oak's Barbara project (in care and maintenance), Chinese-backed CuDECO's Rockland copper project (mothballed, CuDECO in liquidation) and Chinova's Osborne mine — which was originally set up by Ivanhoe Mines (TSX:IVN,OTCQX:IVPAF). There's also the Balcooma mine, which Royal Gold (NASDAQ:RGLD) has copper royalties on, and the privately owned Mount Cuthbert mine.

Many of the mentioned projects ran into trouble in 2020, with the COVID-19 pandemic limiting company operations.

All in all, Queensland has 13 operational copper mines, but as can be seen many are in private hands, making investment opportunities somewhat slim. Aside from previously mentioned Glencore operations, there's Red River Resources (ASX:RVR,OTC Pink:RRRDF), which owns the Thalanga operations near Charters Towers. Red River acquired Thalanga in 2014, and has been working to develop the legacy site back into a viable investment.

From the beginning of production in 2017, the operations have a lifespan of some 10 years, according to Red River, with further development and exploration options on the table. In its most recent quarterly report, Thalanga reported output of 3,086 tonnes of copper concentrate.

The remainder of the options on the table for investors are exploration focused, such as Copper Mountain Mining (ASX:C6C,OTC Pink:CPPMF) with interests in the Eva copper project, which is — unsurprisingly — in the northwest of the state, near the town of Cloncurry. Eva is in the development phase, with a feasibility study completed in early 2020 envisaging a 15 year mine life with an annual expected output of 106 million pounds of copper equivalent.

There's also Global Energy Metals (TSXV:GEMC,OTCQB:GBLEF), which like Glencore isn't on the ASX, but has interests in the Millenium cobalt-copper-gold project and others near Mount Isa — all in the exploration stage.

Aside from that, Strategic Energy Resources (ASX:SER) acquired exploration licences from Newcrest Mining (ASX:NCM,OTC Pink:NCMGF) in May 2021 for licences around Mount Isa, and Zenith Minerals (ASX:ZNC) is exploring the Develin Creek copper-zinc project. Zenith recently divested from another copper project, Flannagans, in June 2021 by selling its interests to a private company for $450,000.

Don't forget to follow us @INN_Australia for real-time updates!

Securities Disclosure: I, Scott Tibballs, currently hold no direct investment interest in any company mentioned in this article.

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