Looking To Become Major Critical Minerals Producer
Hyperion Metals Limited (ASX: HYM) has increased its holdings of titanium, zircon, rare earth minerals and silica rich mineral sands properties at its Titan Project in west Tennessee, USA to 5,964 acres, a 55% increase in landholding, with the potential to be one of the United States’ largest source of critical minerals.
Managing Director,Anastasios Arima,said the additional land has been secured through option agreements signed with local landowners at the Titan Project on substantially the same terms as the company’s existing option agreements.
The company has already completed 5,131m of drilling comprising 129 holes from its Phase 1 – 3 drilling programmes through late 2020 and early 2021, confirming consistent, thick, high-grade mineralisation of critical minerals over ~3.6km strike length at its central property.
Mr Arimasaid the results from this drilling are expected to lead to the delivery of an initial Mineral Resource Estimate in the coming months.
The initial Mineral Resource Estimate will form the basis of the recently commenced Scoping Study for the project, due for delivery in Q3 2021. The Scoping Study is a key step in the development of the Titan Project into potentially one of the most important critical mineral rich provinces in the USA. The Scoping Study will outline material physical and economic metrics as well as major development timelines.
The company has also recently completed metallurgical test work to confirm that the Titan Project is amenable to standard processing techniques and to produce products for potential customers and strategic partners discussions, as well as additional analytical test work programmes such as metallurgical testing of highly valuable rare earth bearing minerals and downstream test work related to the production of titanium powders.
Analytical data for the final products are expected in Q2 2021 and will further inform heavy mineral concentrate assemblage data for the initial Mineral Resource Estimate and flowsheet development for the Titan Project Scoping Study.
“We are very pleased to have secured such a large area of additional property to add to our already significant land position and are delighted to continue to work with the local community in west Tennessee to establish a strong local presence in the region,” Mr Arimasaid.
“We are particularly excited by this new addition as historical drilling by parties including DuPont and Altair International identified this area as having the potential to contain a highly prospective mineral rich core.
“We look forward to the upcoming delivery of an initial resource estimate and subsequent scoping study for the Titan Project, which is anticipated to highlight its importance for the development of sustainable, domestically sourced critical minerals for advanced U.S. industries such as aerospace, EV’s, defence and renewables.”
