Gascoyne 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) and Wyloo Consolidated Investments is developing the Yangibana REE Project, potentially Australia’s next REE Mine.
- Close proximity to Dreadnought’s (ASX:DRE) Yin Rare Earths discovery and Star of Mangaroon gold project..
- Lyons and Edmund Project areas both on the Bald Hill Lineament.
- No previous exploration for REE’s on either area before recent sampling success.
Lyons Prospects
- Lyons Prospects are immediately adjacent to Hastings Technology Metals and Wyloo’s world class Yangibana REE Project.
- Hastings and Wyloo’s 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 that seen at Yangibana.
Mineral Resource Estimate
Following an extensive RC and diamond drilling program at Lyons 11, 12, 13 & 27 a The Mineral Resource Estimate (MRE) for the Lyons REE Project was released which 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 and Wyloo’s 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 with follow up regional exploration by the likes of BHP, Newmont and Newcrest. 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 REE and base metals 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 and other base metal targets generated by Newmont and Newcrest around the Hart Bore area.
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 greatly assist exploration work programs.
