Hastings Technology Metals Enhances Yangibana Project with Niobium Discovery
HASTINGS TECHNOLOGY METALS LTD (HAS) Share Update August 2024 Thursday 1st
Hastings Technology Metals Expands Yangibana Project with Niobium Discovery
Hastings Technology Metals Ltd (ASX:HAS) has unveiled promising test results indicating significant niobium concentrations at its Yangibana Rare Earths Project, potentially transforming it into a multi-commodity site.
Instant Summary:
- Hastings is investigating adding a niobium circuit to the Yangibana Rare Earths Project.
- Potential by-product credits from niobium alongside rare earth elements.
- Niobium concentrations found in ferro-columbite form across multiple deposits.
- Initial test work shows a 19-fold increase in niobium grade using gravity and magnetic separation.
- Further metallurgical tests and a maiden Resource Estimate for niobium expected by Q3 2024.
Project Expansion
Hastings Technology Metals Ltd is expediting the inclusion of a niobium circuit in its Yangibana Rare Earths Project. This initiative aims to create a multi-commodity recovery process, enhancing the project's economic viability.
Niobium, found in the form of ferro-columbite, has been identified over a 4-kilometre strike at the Simon’s Find and Bald Hill deposits. Additionally, niobium occurrences have been noted in other prospects within the Yangibana Project.
Test Results
Initial metallurgical test work on samples from Bald Hill South demonstrated a significant uplift in niobium grade. Using gravity separation followed by low-intensity magnetic separation, the test work upgraded niobium from a 0.87% feed to 16.88% Nb2O5, a 19 times increase.
Historical drill intersections at Simon’s Find include notable results such as 5.45 meters at 5.3% Nb2O5 and 10 meters at 2.66% Nb2O5. Additional intersections at Bald Hill and Hatchett prospects further confirm the widespread presence of niobium.
Future Plans
Hastings plans to conduct further metallurgical tests and release a maiden Resource Estimate for niobium by the end of Q3 2024. The company is committed to expanding the portfolio of minerals produced at Yangibana, aiming to include niobium as a significant by-product.
The discovery of niobium at the Yangibana Project could significantly enhance the project's economic potential. Niobium's critical role in strengthening steel and its emerging use in advanced batteries make it a valuable addition. This development is likely to boost investor confidence and positively impact Hastings' stock price.
Investor Reaction:
Analysts are expected to react positively to this announcement, given the potential for increased revenue streams from niobium. The market's interest in critical minerals, particularly those used in advanced technologies, could drive further investment into Hastings Technology Metals.
Conclusion:
Investors should keep an eye on Hastings Technology Metals' upcoming metallurgical test results and the maiden Resource Estimate for niobium. The company's strategic expansion into niobium production could offer significant growth opportunities. Stay tuned for further updates as Hastings continues to develop the Yangibana Rare Earths Project.