Project Titan’s first resource makes Tennessee a critical untapped mineral province
Hyperion Metals has released the first Resource Estimate (MRE) for its Titan Project which it says establishes it as the largest titanium, zircon and rare earth ore project in the United States – and confirms Tennessee as a new major critical mineral province.
The Titan project has a total mineral resource of 431 million tonnes at 2.2% heavy mineral (THM) containing 9.5 million tonnes of THM at 0.4% cutoff, with 241 million tonnes (56%) classified in the category of indicated resources.
This includes a high grade core of 195 million tonnes at 3.7% THM, containing 7.1 million tonnes of THM at a 2% cutoff.
THM consists of a concentrate of 12% zircon, 10% rutile, 40% ilmenite and 2% rare earth elements (REE), and the mineralization is found in a single large deposit near the surface.
Hyperion Metals (ASX: HYM) says the combination of grade, high-value THM assembly along with low-cost jurisdiction and existing infrastructure highlights the potential to build a critical mineral business from world class low carbon in the United States.
A key player in the national supply chain
The United States is one of the world’s largest consumers of finished products containing these metals, but is currently 100% dependent on imports, which is the driving force behind securing national supply chains for the industry.
And the company is convinced that it could play a key role in securing these supply chains.
“Hyperion’s mission is to sustainably relocate the production of critical minerals and metals from the United States, and this first MRE is a critical step towards that goal,” said Anastasios Arima, CEO and Managing Director of Hyperion.
“The first MRE immediately established Project Titan as a major and untapped potential source of critical minerals rich in titanium, zircon, and heavy and light rare earths.
“The combination of scale and grade of these high-value, critical minerals – in a low-risk, low-cost, low-tax jurisdiction – has the potential to generate significant value creation.
“With our breakthrough titanium technologies and the strong partnerships we are building with industry, we believe we can provide a critical and sustainable supply chain in the United States that will create long-term value for communities around the world. West Tennessee, future direct debit partners and our shareholders. “
Low carbon game in a low-cost jurisdiction
The company believes the Titan Project lends itself to low cost, low impact minerals and mining techniques such as bulldozer thrust followed by an industry standard mineral processing scheme.
The project also has a major logistical advantage with 150,000 km of freeway, putting Tennessee within a day’s drive of most US consumer markets. Project Titan is also among the third largest rail hub in the United States and has four commercial airports and 1,600 km of adjacent waterways.
This means that it would have a lower carbon intensity supply chain, which would also lead to lower costs for consumers, including the world’s largest pigment factory, which consumes titanium minerals as a raw material. and is located about 32 km by road.
And the region is a low-cost jurisdiction for renewable energy (US $ 0.06 / kWh), biodiesel (US $ 0.94 / l) and labor (US $ 50,000 per year) which are the main input costs in typical mineral sands operations.
The primary resource has room to develop
The MRE is based on 107 drill holes totaling 4,101m – but there is potential for growth with 109 more drill holes for 3,566m which are in the final stages of analysis and will be incorporated into an improved MRE.
Hyperion also expects accelerated land consolidation to create a platform for the continued growth of MRE.
This article was developed in conjunction with Hyperion Metals, an advertiser for Stockhead at the time of publication.
This article is not advice on financial products. You should consider getting independent advice before making any financial decisions.