Hyperion Metals has reported a maiden mineral resource estimate of 431-million tonnes, grading 2.2% total heavy mineral (THM), for 9.5-million tonnes of THM for its Titan rare earths project, in Tennessee.
The resource estimate included a high-grade core of 195-million tonnes at 3.7% THM, containing 7.1-million tonnes.
“Hyperion’s mission is to sustainably re-shore the production of American critical minerals and metals, and this maiden mineral resource estimate is a crucial step towards this goal,” said Hyperion MD and CEO Anastasios Arima.
“The maiden mineral resource estimate 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 US critical supply chain that will create long-term value for the communities of west Tennessee, future offtake partners and our shareholders,” said Arima.