• Mineral Resource and Ore Reserves updated to include detailed rare earth element data
• Heavy mineral grade of 4.0%, including 1.4% total rare earth oxides
• Increased forecast production of heavy rare earth oxides dysprosium and terbium

Astron Limited (ASX: ATR) has announced revised Mineral Resource and Ore Reserve estimates for Mining Licence MIN5532, the site of Phase 1 of the Donald Rare Earths and Mineral Sands Project. The updated Mineral Resource Estimate (MRE) incorporates detailed rare earth element data, enabling the company to report the full rare earth element assemblage for the first time. The heavy mineral (HM) grade of the updated MIN5532 Mineral Resource is 4.0% and includes 1.4% total rare earth oxides (TREO), comprising 18.2% neodymium/praseodymium (NdPr) oxide, 2.9% dysprosium (Dy) oxide, and 0.4% terbium (Tb) oxide. Separately, a grade control drilling program over the first 2.5 years of mining operations indicated a 5% increase in HM content and up to 11% increases in the grades of zircon, monazite and xenotime within this area. The revised Ore Reserves estimate is based on the more detailed grade control MRE over the first 2.5 years and the updated MRE over the balance of MIN5532. The Ore Reserves contain 8.5kt of Dy oxide and 1.3kt of Tb oxide. At a processing plant throughput of 7.5Mtpa, the Donald Phase 1 Project is forecast to produce 279kt of rare earth element concentrate over a 39.25-year mine life, including 4.5kt of Dy oxide and 1.1kt of Tb oxide at average annual production rates of 115t and 18t respectively. The updated Mineral Resource and Ore Reserves position the Donald Project as one of the world's most significant sources of heavy rare earth elements outside of China.

At a processing plant throughput of 7.5Mtpa, the Donald Phase 1 Project is forecast to produce 279kt of rare earth element concentrate over a 39.25-year mine life, including 4.5kt of dysprosium oxide and 1.1kt of terbium oxide at average annual production rates of 115t and 18t respectively.