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Gascoyne REE Project

  • High grade REE’s discovered up to 8.01% TREO in rockchips.
  • Rare Earth Elements Hosted in the Yangibana Ironstones within the Durlacher Supersuite Rocks.
  • Source of the REE’s is from the Gifford Creek Ferrocarbonatites which have been intruded along the Bald Hill Lineament.
  • Hastings Technology Metals (ASX:HAS) is developing the Yangibana REE Project, potentially Australia’s next REE Mine.
  • Close proximity to Dreadnought’s (ASX:DRE) Yin Rare Earths discovery.
  • Lyons and Edmund Project areas both on the Bald Hill Lineament.
  • No previous exploration for REE’s on either area before recent sampling success.
  • Maiden drill program on the outcropping ironstones carried out in 2022/2023.

Maiden Mineral Resource Estimate published October 2023

Ferrocarbonatite Targets

  • Regional magnetics and radiometrics have picked up ferrocarbonatite targets under cover on Lanthanein’s Lyons EL.
  • Ferrocarbonatites are the source of the REE rich ironstones on Lanthanein and Hastings ground.
  • Two DEMIRS Exploration Incentive Scheme funded deep diamond exploration holes drilled into the two best targets in 2023.
  • Dreadnought has similar but smaller carbonatite targets at Mangaroon and near Yin.

Lyons Prospects

  • Lyons Prospects are immediately adjacent to Hastings Technology Metals world class Yangibana REE Project.
  • Hastings REE’s hosted in the same ironstones derived from Gifford Creek Ferrocarbonatites present in the Durlacher Supersuite rocks that host the Lyons Prospects.
  • Mineralogy and metallurgical characteristics of REE’s hosted in Lyons ironstones identical to Hastings.

High grade rare earth discoveries confirmed with exceptional results from rock chips across multiple targets on the Lyons Project Area.

Significant results include:

  • 01% TREO (2.8% Nd2O3+Pr6O11) Lyons 11 (GPR012)
  • 44% TREO (2.3% Nd2O3+Pr6O11) Lyons 11 (GPR019)
  • 27% TREO (1.9% Nd2O3+Pr6O11) Lyons 11 (GPR020)
  • 32% TREO (1.53% Nd2O3+Pr6O11) Lyons 11 (GPR013)
  • 17% TREO (1.69% Nd2O3+Pr6O11) Lyons 11 (GPR013)
  • 38% TREO (1.3% Nd2O3+Pr6O11) Lyons 11 (GPR035)
  • 53% TREO (1.15% Nd2O3+Pr6O11) Lyons 13 (GPR082)
  • 23% TREO (0.55% Nd2O3+Pr6O11) Lyons 12 (GPR069)
  • 77% TREO (0.79% Nd2O3+Pr6O11) Lyons 27 (GPR108)

Multiple high priority outcropping ironstone prospects and carbonatite large tonnage targets were drilled in 2022 and 2023 with an intensive RC drilling programme of 3,510m in 2022 and a further 9,635m in 2023.  The main targets drilled were Lyons 11, 12, 13 and 27 with significant results.

 

Significant intersections at the Lyons 12 and 13 prospects include:

  • LYRC036: 3m at 0.82% TREO from 30m, including 1m at 1.67% TREO (55% NdPr:TREO) from 31m
  • LYRC018: 3m at 0.57% TREO from 6m, including 1m at 1.11% TREO (51% NdPr:TREO) and 0.79% Nb2O5 from 8m
  • LYRC039: 1m at 1.01% TREO (53% NdPr: TREO) from 49m
  • LYRC025: 1m at 0.71% TREO (47% NdPr:TREO) and 1.20% Nb2O5 from 34m
  • LYRC135: 1m at 0.76% TREO and 1.22% Nb2O5 from 33m
  • LYRC138: 2m @ 0.57% TREO and 0.18% Nb2O5 from 14m
  • LYRC141: 2m @ 0.66% TREO and 0.49% Nb2O5 from 51m
  • LYRC140: 3m @ 0.36% TREO and 0.63% Nb2O5 from 34m
  • LYRC133: 1m at 0.36% TREO and 1.09% Nb2O5 from 53m

Significant intersections at the Lyons 27 prospect include:

  • LYRC047: 5m at 0.69% TREO from 20m, including 2m at 1.06% TREO (41% NdPr:TREO) from 21m
  • LYRC048: 2m at 0.22% TREO (43% NdPr:TREO)
  • LYRC045: 1m at 0.21% TREO (38% NdPr:TREO)

Mineral Resource Estimate

The Mineral Resource Estimate (MRE) for the Lyons REE Project stands at 0.99 million tonnes at 0.32%TREO (Total Rare Earth Oxides) as detailed in Table 1

Table 1: Inferred Mineral Resources at Lyons above 0.2% TREO

Area Tonnes (Mt) TREO (%) NdPr (%) Nb2O5 (%) TREO (t)
Lyons 12&13 0.69 0.33 0.15 0.23 2,266
Lyons 11 0.30 0.32 0.10   670
Total 0.99 0.32 0.13   3,221

Tonnages are dry metric tonnes. Minor discrepancies may occur due to rounding.

Background

The Gascoyne Rare Earth Elements Project is exploring for light rare-earth oxide’s of Neodymium (Nd2O3) and Praseodymium (Pr6O11) critical to the production of permanent magnets, with demand forecast to surge due to their use in EV’s and renewable energies such as wind turbines.

The Gascoyne REE Project adjoins the Hastings Technology Metals world-class Yangibana Deposit in the Gascoyne Region of Western Australia, set to be the next REE producer outside of China. The project area is also proximal to recent discoveries made by Dreadnought Resources at their Mangaroon and Yin Project located 30kms to the west of the Yangibana REE Resource.

The REE-bearing Yangibana ironstones within the Durlacher Supersuite lithology were first targeted by prospectors in 1972 as base metal bearing gossans, however the REE potential of the ironstones wasn’t assessed until 1985 and remained underexplored until Hastings Technology Metals acquired the project in 2011. Hastings has since delineated a world-class JORC 2012 Mineral Resource of 29.93Mt @ 0.93% TREO with 0.32% Nd2O3+Pr6O11 and a ratio of 52% Nd Pr:TREO making it one of the highest value REE projects for ore value per kg. Hastings has since defined a Reserve of 20.93Mt @ 0.90% TREO and 0.33% Nd2O3+Pr6O11.

Despite the region’s prospectivity for REE’s, very limited exploration has been undertaken at the Gascoyne Project, in part potentially due to shallow alluvial cover which has led to the area being overlooked historically, however the south eastern Lyons tenement E09/2515 has areas of outcrop, which includes the historic copper prospect Tabletop Well.

A detailed airborne magnetic-radiometric survey consisting of 5,189 line kilometres was flown over the entire tenement area with the data gathered from this survey assisting with target definition within the prospective Durlacher Supersuite across the entire project area.

Access into the project area is very good with a combination of well-maintained gazetted and station roads located on Edmund, Gifford Creek and Wanna Pastoral Leases which will greatly assist exploration work programs.