Old 07-07-2013, 02:22 AM
Sparty Sparty is offline
Join Date: Mar 2009
Posts: 1,128
Default ASX: HAS has heavy REEs.

Hastings Rare Metals? rock chip sampling at its self named project in Western Australia has returned its highest ever assay results including 5,237 ppm total rare earth confirming two new zones of near surface, high grade mineralization.

Preliminary interpretation highlights the potential for very attractive, near surface, low strip ratio resources at the two targets. Notably, these are located within 4.5 kilometers from the current JORC Resource of 36.2 million tonnes at 0.21% TREO and 0.18% HREO.

Sampling program;
The rock chip sampling followed up on two radiometric anomalies Levon and Haig that are located 1.3 kilometers and 4.5 kilometers respectively from the existing resource within the Niobium Tuff. A total of 19 rock chip samples were collected from the eastern side of Levon.

These exceeded 1,000ppm TREO, which is the cut off grade for the main resource, with six exceeding 2,100ppm TREO, which is the average grade of the main resource. Two high assays of 4,281ppm and 5,237ppm TREO exceed any previous samples from the Hastings Project area.

The arithmetic average of the 19 samples is 2,052ppm, very similar to the average resource grade of the Niobium Tuff. Based on the area covered by this initial traverse, Levon is at least 400 meters long and averages 65 meters wide on surface.

Mr Steve Mackowski technical director of Hastings Rare Metals said that ?This is particularly pleasing, as it points to significant resource potential outside of existing known resources or mineralized areas. These two radiometric targets have potential to provide significant tonnages of rare earths mineralization with excellent mining configurations (low strip ratio).?

Source - Proactive Investors
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