# Cadence Minerals Yangibana drilling confirms significant mineralisation extension

- Link: https://www.directorstalkinterviews.com/cadence-minerals-yangibana-drilling-confirms-significant-mineralisation-extension/412938169
- Published: 2020-11-17T07:22:28+00:00
- Author: Amilia Stone

**[Cadence Minerals](https://www.directorstalkinterviews.com/company/cadence-minerals-plc/kdnc.l)
plc** (LON:KDNC) has noted that Hastings Technology Metals (ASX:HAS), Cadence’s 
joint venture partner at the Yangibana Rare Earth Project in the Gascoyne region
of Western Australia, has announced further significant results for the Simon’s 
Find deposit as part of the 2020 exploration drilling program for the Yangibana 
Rare Earths Project in Western Australia.

**Cadence Minerals Yangibana Holding:**

Cadence owns 30% of 3 Mining Leases, 6 Exploration Licences, which form part of 
the Yangibana Rare Earth Deposit. Hastings Technology Metals owns the remaining 
70%. While the announcement today involves territory not covered by the JV license
areas, the developments are nonetheless positive indicators for the future of the
joint venture. Further details of our ownership the mineral resources and reserves
on our jointly held leases can be found at:

> [Yangibana Rare Earth Project](https://www.cadenceminerals.com/projects/yangibana-rare-earth-project-2/)

The current mine plan anticipates production to start from our joint venture areas(
Yangibana and Yangibana North) in year 6 and continue to the end of mine life (year
13). Further details can be found in the Hastings 2019 Annual Report.

**Highlights:**

·      Results from drilling at Simon’s Find confirm a major 2km long zone of economic
mineralisation, significantly expanding the existing resource base across the Yangibana
Rare Earths Project.

·      Simon’s Find and the recently announced Fraser’s North and South drill results
form a continuous zone of economic mineralisation 4km long.

·      The Fraser’s – Simon’s Find – Bald Hill trend now forms an 8km-long economic
mineralised corridor.

·      Simon’s Find results contain world-beating quantities of neodymium (Nd2O3)
and praseodymium (Pr6O11) that, when combined, total 52% of the TREO (total rare
earth oxides) values. These results are significantly higher than the 40-41% values
recorded from the nearby Bald Hill and Frasers deposits.

·      High-grade and shallow intersections from Simon’s Find include:

o  2m @ 2.78% TREO from 46m

o  6m @ 1.20% TREO from 43m

 * including 4m @ 1.61% TREO

o  4m @ 1.21% TREO from 46m

o  15m @ 0.72% TREO from 37m

 * including 6m @ 1.11% TREO

·      2m @ 1.38% TREO from 67m

·      7m @ 0.89% TREO from 31m

 * including 2m @ 1.76% TREO

·      3m @ 1.40% TREO from 11m

·      6m @ 0.75% TREO from 39m

 * including 2m @ 1.51% TREO

·      83 out of 96 holes (~86%) reported significant intercepts of grades

**Simon’s Find – Major Mineralised Trend Defined**

Hastings can now report that it has successfully delineated, as a minimum, approximately
2km of economic mineralisation, forming the Simon’s Find resource area through the
completion of close-spaced reverse circulation (RC) drilling.

Recent drilling to target ironstone rocks hosting rare earths has returned consistent
grades and widths of mineralisation over a 2km-long zone, which remains open along
strike and down dip. Results have also confirmed that Simon’s Find includes exceptionally
high quantities of neodymium and praseodymium, widely recognised as the two most
important rare earths elements required over the next decades to satisfy global 
demand for electric vehicles, renewable energy projects and industrial automation.

From the results underlying this announcement for Simon’s Find, neodymium and praseodymium(
together, “NdPr”) represent approximately 52% of the total rare earths content. 
This is at least 25% higher than existing results from the nearby Bald Hill and 
Frasers deposits, which have a NdPr:TREO ratio of approximately 40-41% of total 
rare earths.

A 40-41% ratio is widely acknowledged as world leading when compared to other known
rare earths deposits, which typically report ratios in the 15-25% range. The 52%
recorded at Simon’s Find confirms the special and unique geological properties of
Yangibana and further underpins Hastings’ accelerated march to becoming Australia’s
next rare earths producer.

These new results are expected to substantially add to the 20.86Mt mineral resource1(
see ASX announcement dated 25 February 2020) already confirmed at Yangibana, with
a new mineral resource and mining reserve estimate expected to be completed over
the coming months.

Simon’s Find is located in close proximity to the site of Yangibana’s proposed processing
plant. The nature of Simon’s Find’s softer geological host rocks means this deposit
is expected to play an important role during the production start-up phase of Yangibana.

**Frasers – Simon’s Find Trend**

Drill results released during the year have confirmed that Simon’s Find forms the
northern portion of a defined and continuous 4km-long zone of economic mineralisation
when including the recently released Fraser’s South and Fraser’s North drilling 
results.

**Frasers – Simon’s Find – Bald Hill Trend**

Hastings has now defined a single, largely coherent zone of mineralisation commencing
at Fraser’s South and finishing at Bald Hill (the largest of Yangibana’s rare earths
deposits) that is approximately 8km in length.

Substantial potential exists for continued exploration throughout this zone, which
has demonstrated significant capacity to host rare earths, while opening up enormous
opportunities for mineral resource expansions and extensions to Yangibana’s mine
life within close proximity of the processing plant location.

This zone has been lightly drilled and, on average, only between 40-70m below the
surface. Additional opportunities to the north and south of this trend have been
identified by geophysics and ground mapping. Down-dip extensions remain open along
the entire 8km of defined mineralisation.

Exploring and delineating the mineralisation in this zone was a key objective of
the 2020 exploration drilling program, which has been successfully delivered.

In fact, the 2020 exploration drilling program has been so successful that the vast
majority of holes reported to date have delivered intercepts of TREO considered 
to be economic by the Company.

The full HAS release including detailed tables and graphics can be found at: https://
www.investi.com.au/api/announcements/has/986a8ebc-c66.pdf

> **Hastings Executive Chairman, Charles Lew commented: **“Hastings has delivered
> and exceeded all of its key objectives for the 2020 exploration drilling program.
> The results from drilling over the past several months have shown the magnitude
> of the resource potential that exists at Yangibana.”
> “Hastings has now defined and delivered a single coherent zone of economic mineralisation
> trending more than 8km in length from Fraser’s through to Simon’s Find and Bald
> Hill, with further upside in all areas along this zone to the north, south and
> at depth.”
> “Additionally, the ability to replicate the results from the past few months into
> other areas of the tenement package remains high, with similar known geological
> structures demanding additional work.”
> “While the average head grades at Simon’s Find results may be lower than at Yangibana’s
> other deposits, what is important and makes this deposit such a stand-out – in
> global terms – are the very high levels of neodymium and praseodymium – at 52%
> of total rare earths reported.”
> “Hastings will now start the process of collating the drilling information to 
> define a new mineral resource for Simon’s Find.
> “The success at Simon’s Find comes amid a busy period for Hastings as we advance
> Yangibana’s development by concluding more offtake contracts and settling on a
> coastal site for our project’s hydrometallurgical plant.”

> **Cadence Minerals CEO Kiran Morzaria commented**: “As Hastings Chairman Charles
> Lew says, the results from drilling over the past several months have shown the
> magnitude of the resource potential that exists at Yangibana, and in particular
> the very high levels of neodymium and praseodymium reported from Simon’s Find.”
> “Although the announcement today involves territory not covered by the JV license
> areas, the developments are nonetheless positive indicators for the future of 
> the joint venture and provides additional validation for our investment strategy
> into this project. We look forward to further developments.”   

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