Hyperion Metals: Maiden Resource Confirms Tennessee as Major Untapped Critical Mineral Province
6. October 2021 – The Titan Project’s maiden Mineral Resource Estimate (“MRE”) establishes it as the largest titanium, zircon and rare earth minerals project in the USA, and confirms Tennessee as a major new American critical mineral province.
The MRE for the Titan Project comprises:
- Total Mineral Resource of 431Mt @ 2.2% Total Heavy Minerals (“THM”), containing 9.5Mt THM at a 0.4% cut-off with 241Mt (56%) classified in the Indicated resource category;
- Includes high grade core of 195Mt @ 3.7% THM, containing 7.1Mt THM at a 2.0% cut-off;
- High value THM assemblage of 12% zircon, 10% rutile, 40% ilmenite and 2% Rare Earth Elements (“REE”) concentrate with an excellent ratio of heavy and light rare earths; and
- Mineralization occurs in a single, large, and coherent near-surface deposit.
The combination of grade, high value THM assemblage, low-cost jurisdiction and existing infrastructure underwrites the potential to build a low-to-zero carbon, world class critical mineral business in the U.S.:
- The project is amenable to low-cost and low impact mineral sand extraction techniques (e.g. dozer push) which actively reclaims and rehabilitates the land as the operation progresses;
- The region is a low-cost jurisdiction for renewable power (US$0.06/kWh), biodiesel (US$0.94/l) and labor (US$50k p.a.) which are major input costs in typical mineral sands operations; and
- The project is strategically located with low-cost road, rail and water logistics connecting it to world class manufacturing industries and customers.
- The MRE represents the first mineral resource reported in accordance with the JORC Code (2012) within the McNairy Sand in Tennessee and confirms the region as an untapped critical mineral province:
- The MRE is based on 107 drill holes totaling 4,101 meters;
- There are another 109 completed drill holes totaling 3,566 meters, which are in the final stages of analysis, and will be incorporated into an upgraded MRE; and
- Accelerated land consolidation is expected to create a platform for sustained growth of the MRE.
Hyperion’s low carbon critical mineral business and low-to-zero carbon, low-cost titanium metal technologies build a platform to become the leader in the U.S. critical mineral and metal supply chains.
|
|
|
|
|
THM assemblage |
||||||||
Titan Project |
Cut off |
Tons |
THM % |
THM |
Zircon |
Rutile |
Ilmenite |
REE |
Staurolite |
||||
|
(THM %) |
(Mt) |
(%) |
(Mt) |
(%) |
(%) |
(%) |
(%) |
(%) |
||||
Total Mineral Resource |
0.4 |
431 |
2.2 |
9.5 |
11.5 |
9.5 |
40.3 |
2.1 |
14.8 |
||||
Including High Grade Core |
2.0 |
195 |
3.7 |
7.1 |
12.1 |
9.9 |
42.0 |
2.3 |
10.7 |
||||
Figure 1: Titan Project MRE drill holes and outline, plus drill holes pending for potential inclusion in an MRE update.
Anastasios (Taso) Arima, CEO and Managing Director said:
“Hyperion’s mission is to sustainably re-shore the production of American critical minerals and metals, and this maiden MRE is a crucial step towards this goal.
“The maiden MRE has immediately established the Titan Project as a major, 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 and low tax jurisdiction - has the potential to drive significant value creation.
“Together with our breakthrough titanium technologies and the strong partnerships we are building with industry, we believe we can deliver a sustainable U.S. critical supply chain that will create long term value for the communities of west Tennessee, future offtake partners and our shareholders.”
This announcement has been authorized for release by the CEO and Managing Director, Mr. Anastasios Arima.
For further information and enquiries please contact:
+1 704 461 8000
Hyperion Metals Limited (ASX: HYM) is pleased to announce a maiden Mineral Resource Estimate (“MRE”) of 431 million tonnes (“Mt”) @ 2.2% Total Heavy Minerals (“THM”) containing 9.5Mt THM (at a 0.4% cut off grade) which includes a high-grade core of 195Mt @ 3.7% THM containing 7.1Mt THM (at a 2.0% cut off grade) at its 100% owned Titan Project (“Project”) in Tennessee. Approximately 56%, or 241Mt of the MRE, is classified in the Indicated resource category.
Titan Project Summary
Hyperion’s mission is to be the leading developer of zero carbon, sustainable, critical material supply chains for advanced American industries including space, aerospace, electric vehicles (“EVs”) and 3D printing.
The Company holds a 100% interest in the Titan Project, covering over 6,000 acres of titanium, rare earth minerals and, zircon rich mineral sands properties in Tennessee, USA. The Titan Project is strategically located proximal to the town of Camden in the southeast of the USA, with low-cost road, rail and water logistics connecting it to world class manufacturing industries and customers.
The MRE has confirmed that the Titan Project is one of the largest and most important critical mineral deposits in the U.S., with a high in-situ value underpinned by a product assemblage of high value zircon, titanium minerals and heavy and light rare earth elements. The shallow, high grade and unconsolidated nature of the sandy mineralization enables the potential for simple mining operations such as dozer push followed by an industry standard mineral processing flowsheet.
Figure 2: Titan Project and MRE outline.
The delivery of Hyperion’s large-scale maiden MRE at the Titan Project is a key step in developing a fully integrated domestic titanium metal and rare earth metal supply chain. This is of strategic importance for the U.S., as the country is one of the largest global consumers of finished products containing these metals, but is currently 100% import reliant. The current focus from both industry and the U.S. government is upon re-shoring these critical minerals and building resilient and long lasting supply chains, which can be achieved by the development of Hyperion’s operations.
Please follow the link to view entire original news in English language:
About Hyperion
Hyperion’s mission is to be the leading developer of zero carbon, sustainable, critical material supply chains for advanced American industries including space, aerospace, electric vehicles and 3D printing.
The Company holds a 100% interest in the Titan Project, covering over 6,000 acres of titanium, rare earth minerals, high grade silica sand and zircon rich mineral sands properties in Tennessee, USA. The Titan Project is strategically located in the southeast of the USA, with low-cost road, rail and water logistics connecting it to world class manufacturing industries.
Hyperion has secured options for the exclusive license to produce low carbon titanium metal and spherical powers using the breakthrough HAMR & GSD technologies. The HAMR & GSD technologies were invented by Dr. Z. Zak Fang and his team at the University of Utah with government funding from ARPA-E.
The HAMR technology has demonstrated the potential to produce titanium powders with low-to-zero carbon intensity, lower energy consumption, significantly lower cost and at product qualities which exceed current industry standards. The GSD technology is a thermochemical process combining low-cost feedstock material with high yield production and can produce spherical titanium and titanium alloy powders at a fraction of the cost of comparable commercial powders.
Hyperion has formed a technology partnership with EOS GmbH, the world’s leading solution supplier in the field of industrial 3D printing of metals and plastics. The partnership aims to accelerate the deployment of Hyperion’s HAMR and GSD technologies for the potential production of low cost, low-to-zero carbon titanium metal powders.
Hyperion also has signed an MOU to establish a partnership with Energy Fuels (NYSE: UUUU) that aims to build an integrated, all-American rare earths supply chain. The MOU will evaluate the potential supply of rare earth minerals from Hyperion’s Titan Project to Energy Fuels for value added processing at Energy Fuels’ White Mesa Mill. Rare earths are highly valued as critical materials for magnet production essential for wind turbines, EVs, consumer electronics and military applications.
Forward Looking Statements
Information included in this release constitutes forward-looking statements. Often, but not always, forward looking statements can generally be identified by the use of forward-looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “continue”, and “guidance”, or other similar words and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs.
Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance, and achievements to differ materially from any future results, performance, or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licenses and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which the company operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation.
Forward looking statements are based on the Company and its management’s good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect the Company’s business and operations in the future. The Company does not give any assurance that the assumptions on which forward looking statements are based will prove to be correct, or that the Company’s business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the Company or management or beyond the Company’s control.
Although the Company attempts and has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in forward looking statements, there may be other factors that could cause actual results, performance, achievements, or events not to be as anticipated, estimated or intended, and many events are beyond the reasonable control of the Company. Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Forward looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the company does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.
Competent Persons Statement
The information in this announcement that relates to Exploration Results and Mineral Resources is based on, and fairly represents, information compiled and/or reviewed by Mr. Adam Karst, P.G., who is a Competent Person. Mr. Karst is an independent consultant to Hyperion Metals Limited. Mr. Karst is a Registered Member of the Society of Mining, Metallurgy and Exploration (SME) which is a Recognized Overseas Professional Organization (ROPO) as well as a Professional Geologist in the state of Tennessee. Mr. Karst has sufficient experience which is relevant to the style and type of mineralization present at the Titan Project area and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (the 2012 JORC Code). Mr. Karst consents to the inclusion in this report of the matters based on this information in the form and context in which it appears.
Please follow the link to view entire original news in English language:
