Hyperion: Thickest, Highest Grade Drill Results at The Titan Project
- Excellent high-grade intercepts from the first batch of results from the Phase 3 drill program include the thickest, highest grade intercepts to date.
- The results continue to highlight the consistent grade and thickness of mineralization over ~3.6km strike length, and the potential to rapidly define a large, critical mineral resource at the Titan Project.
- The remaining 40 Phase 3 drill holes and further heavy mineral assemblage samples are currently with SGS for analysis. A maiden mineral resource estimate in accordance with the JORC Code is expected in Q3 2021.
- New assays received from 38 holes of the Phase 3 drill program continue to show thick, high grade intercepts of Total Heavy Minerals ("THM"), including:
- 48.8m @ 3.3% THM including 15.2m @ 6.5% THM and 13.7m @ 4.3% THM
- 42.7m @ 3.7% THM including 7.6m @ 7.0% THM and 13.7m @ 6.8% THM
- 44.2m @ 3.5% THM including 10.7m @ 5.6% THM
- 45.7m @ 3.2% THM including 13.7m @ 4.6% THM and 12.2m @ 6.0% THM
- 48.8m @ 2.4% THM including 12.2m @ 6.0% THM
- 15.2m @ 7.6% THM including 6.1m @ 14.7% THM
- The results continue to support the Company’s view that this region in Tennessee is a major, untapped U.S. critical mineral province, with Hyperion having the unique potential to become one of the most important critical mineral suppliers in the U.S.
- Hyperion continues to consolidate land and complete exploration drilling in additional areas in Tennessee and is confident of discovering further mineralization in the region.
- Initial exploration work at the Company’s newly secured landholding is well advanced, with a 32-hole drill program and a bulk sample completed in an area that saw significant drilling by companies including DuPont, Kerr McGee, BHP, RGC / Iluka and Altair International from the 1950’s to the 1990’s.
Commenting on the exploration progress, Anastasios (Taso) Arima, Managing Director of Hyperion Metals said:
“I am delighted with the initial Phase 3 drill results, being the best to date from the Titan Project in Tennessee, USA. In the coming months we will rapidly move towards resource delineation and completion of our initial economic studies. This would be the foundation for us to capitalize on this opportunity to become one of the major suppliers of critical minerals in the U.S. for advanced industries which are expected to see massive growth in the coming years from modernization and infrastructure spending in the country.
We are excited about continuing to explore and consolidate the area and we are confident in continuing to find additional areas of mineralization in this this major, untapped U.S. critical mineral province.”
Figure 1: Map highlighting exploration activites and status at the Titan Project.
This announcement has been authorized for release by the Managing Director.
For further information, please contact:
Anastasios (Taso) Arima, Managing Director
+1 347 899 1522
Dominic Allen, Corporate Development
+61 468 544 888
Hyperion Metals Limited (“Hyperion” or “the Company”) (ASX: HYM) is pleased to announce that the initial results of the Phase 3 drilling program have been received, with excellent high-grade intercepts from the first 38 holes of the program highlighting the potential to rapidly define a large, critical mineral resource at the Titan Project, and the definition of a critical mineral rich province in the USA.
The Phase 3 drill program is focused upon infill drilling at the Titan Project in order to delineate a maiden mineral resource estimate. The results received include the thickest, highest grade intercepts to date, highlighting the huge potential for consistent grade and thickness of mineralization over ~3.6km strike length drilled to date. Highlights include:
Drill hole ID
Result
21-SDW-055
48.8m @ 3.3% THM including 15.2m @ 6.5% THM and 13.7m @ 4.3% THM
21-SDW-054
42.7m @ 3.7% THM including 7.6m @ 7.0% THM and 13.7m @ 6.8 % THM
21-SDW-059
44.2m @ 3.5% THM including 10.7m @ 5.6% THM
21-SDW-056
45.7m @ 3.2% THM including 13.7m @ 4.6% THM and 12.2m @ 6.0% THM
21-SDW-058
48.8m @ 2.4% THM including 12.2m @ 6.0% THM
21-SWW-048
15.2m @ 7.6% THM including 6.1m @ 14.7% THM
Table 1: Select drilling intersections highlighting very thick, high grade mineralization.
The main mineralized zone is hosted stratigraphically in the lower member of the McNairy Formation. Mineralization averages 18 meters thickness and to date has been traced for 3.6 kilometers along strike.
Figure 2: Cross section (A – A’) displaying the thick, high grade intersections.
Analytical data for the final products will be completed by SGS Laboratories in Lakefield, Ontario, with results expected in the coming weeks, and will further inform heavy mineral concentrate assemblage data for an initial mineral resource estimate and flowsheet development for the Titan Project.
Further, Hyperion has recently completed 32 drill holes and a 1 tonne metallurgical bulk sample at its recently expanded land position in the region. The new land position includes areas which saw significant drilling by companies including DuPont, Kerr McGee, RGC / Iluka, BHP and Altair International from the 1950’s to the 1990’s. Exploration results from the new land position are expected to be released in the coming months.
Figure 3: Map highlighting the focus area of Phase 3 infill drilling and previous bulk sample locations.
About Hyperion Metals
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 approximately 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, significantly 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 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.
Figure 4: Titanium ingot producers and major U.S aeronautic and space manufacturing facilities.
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 – JORC Code 2012
The information in this announcement that relates to Exploration Results is based on information compiled and/or reviewed by Mr. Adam Karst, P.G. Mr. Karst is an independent consultant to Hyperion Metals Pty Ltd. 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. Appendix A: Significant intersections
Hole ID
Easting
Northing
Elev.
Az.
Dip
Depth
From
To
From
To
Intercept
HMT
Unit
(m)
(o)
(o)
(m)
(ft)
(ft)
(m)
(m)
(m)
(%)
21-STS-027
394279.9
4008013.5
129.6
0
-90
21.3
5
55
1.5
16.8
15.2
1.1
Lower McNairy
21-STS-028
395093.7
4006271.2
130.0
0
-90
18.3
No Significant Intercept
21-STS-029
394235.9
4005497.2
139.3
0
-90
33.5
5
50
1.5
15.2
13.7
1.2
Upper McNairy
21-SMS-030
393559.3
4006404.3
146.2
0
-90
33.5
10
50
3.0
15.2
15.2
1.1
Lower McNairy
21-SRH-031
392975.6
4003718.6
130.6
0
-90
36.6
20
90
6.1
27.4
21.3
2.4
Lower McNairy
21-SBF-032
392714
4002418.1
119.8
0
-90
24.4
5
55
1.5
16.8
15.2
3.1
Lower McNairy
21-SBF-033
393093.5
4002819.7
130.4
0
-90
30.5
0
90
0.0
27.4
27.4
3.6
Lower McNairy
including
20
60
6.1
18.3
12.2
6.0
Lower McNairy
21-SGH-034
392483.5
4000824.5
138.2
0
-90
36.6
35
115
10.7
35.1
24.4
2.9
Lower McNairy, Coon Creek
including
85
115
25.9
35.1
9.1
3.6
Lower McNairy, Coon Creek
21-SGH-035
392863.3
4000537.2
122.3
0
-90
21.3
10
70
3.0
21.3
18.3
2.8
Lower McNairy, Coon Creek
21-SGH-036
392752.3
4000442.4
133.0
0
-90
30.5
25
100
7.6
30.5
22.9
2.8
Lower McNairy, Coon Creek
21-SGH-037
392447.4
4000466.4
133.8
0
-90
27.4
20
90
6.1
27.4
16.8
3.7
Lower McNairy
including
30
50
9.1
15.2
6.1
5.3
Lower McNairy
21-SDW-038
390850.5
3999289.5
132.5
0
-90
33.5
35
75
10.7
22.9
12.2
1.1
Upper McNairy, Lower McNairy
21-SDW-039
391046.5
3999131
127.5
0
-90
30.5
30
85
9.1
25.9
16.8
1.0
Lower McNairy
21-SDW-040
391083.9
3999354.6
133.4
0
-90
30.5
10
20
3.0
6.1
3.0
1.5
Lower McNairy
21-SDW-041
390738.6
3999445
130.0
0
-90
30.5
No Significant Intercept
21-SDW-042
390815.2
3999654.7
133.3
0
-90
30.5
No Significant Intercept
21-STS-043
392964.5
4001547.4
141.5
0
-90
42.7
10
130
3.0
39.6
36.6
2.9
Upper McNairy, Lower McNairy
including
85
130
25.9
39.6
13.7
6.0
Lower McNairy
21-STS-044
392852.9
4001630.9
131.4
0
-90
33.5
10
100
3.0
30.5
27.4
3.7
Upper McNairy, Lower McNairy
including
55
90
16.8
27.4
10.7
6.8
Lower McNairy
21-SBF-045
392515.7
4002426.1
121.5
0
-90
27.4
5
80
1.5
24.4
22.9
3.2
Lower McNairy
including
20
55
6.1
16.8
10.7
5.2
Lower McNairy
21-SBF-046
392394.9
4002675.6
121.3
0
-90
27.4
0
90
0.0
27.4
27.4
2.5
Lower McNairy, Coon Creek
30
60
9.1
18.3
9.1
4.3
Lower McNairy
21-SBF-047
393001.5
4002503.3
119.0
0
-90
18.3
0
50
0.0
15.2
15.2
4.4
Lower McNairy
including
10
30
3.0
9.1
6.1
8.8
Lower McNairy
21-SWW-048
392033.9
3999542.5
125.5
0
-90
24.4
30
80
9.1
24.4
15.2
7.6
Lower McNairy, Coon Creek
including
50
70
15.2
21.3
6.1
14.7
Lower McNairy
21-SWW-049
391867.1
3999690.1
137.6
0
-90
39.6
0
125
0.0
38.1
38.1
3.0
Lower McNairy, Coon Creek
including
85
115
25.9
35.1
9.1
9.1
Lower McNairy
21-STS-050
391091.6
4002766.3
138.0
0
-90
51.8
25
170
7.6
51.8
44.2
2.6
Upper McNairy, Lower McNairy, Coon Creek
including
120
155
36.6
47.2
10.7
5.1
Lower McNairy
21-STS-051
390935.3
4002709.6
139.2
0
-90
51.8
10
170
3.0
51.8
48.8
1.7
Upper McNairy, Lower McNairy, Coon Creek
including
140
170
42.7
51.8
9.1
4.9
Lower McNairy, Coon Creek
21-SDW-054
391336.9
4000197.4
158.8
0
-90
45.7
5
145
1.5
44.2
42.7
3.7
Upper McNairy, Lower McNairy, Coon Creek
including
5
30
1.5
9.1
7.6
7.0
Upper McNairy
and
100
145
30.5
44.2
13.7
6.8
Lower McNairy, Coon Creek
21-SDW-055
391774.9
3999763.2
144.6
0
-90
57.9
30
190
9.1
57.9
48.8
3.3
Upper McNairy, Lower McNairy, Coon Creek
including
30
80
9.1
24.4
15.2
6.5
Upper McNairy
and
145
190
44.2
57.9
13.7
4.3
Lower McNairy, Coon Creek
21-SDW-056
391533.6
3999972.4
152.0
0
-90
48.8
10
160
3.0
48.8
45.7
3.2
Upper McNairy, Lower McNairy, Coon Creek
including
10
55
3.0
16.8
13.7
4.6
Upper McNairy
and
120
160
36.6
48.8
12.2
6.0
Lower McNairy, Coon Creek
21-SDW-057
391216.3
3999877.5
150.4
0
-90
45.7
35
180
10.7
54.9
44.2
2.2
Upper McNairy, Lower McNairy, Coon Creek
including
140
180
42.7
54.9
12.2
5.9
Lower McNairy, Coon Creek
21-SDW-058
391114.8
3999986.9
153.6
0
-90
57.9
30
190
9.1
57.9
48.8
2.4
Upper McNairy, Lower McNairy, Coon Creek
including
150
190
45.7
57.9
12.2
6.0
Lower McNairy, Coon Creek
21-SDW-059
391012
4000094.2
152.5
0
-90
48.8
45
190
13.7
57.9
44.2
3.5
Upper McNairy, Lower McNairy, Coon Creek
including
155
190
47.2
57.9
10.7
5.6
Lower McNairy, Coon Creek
21-SDW-064
390899.8
3999773.6
144.5
0
-90
51.8
100
170
30.5
51.8
21.3
1.8
Lower McNairy, Coon Creek
including
140
170
42.7
51.8
9.1
3.1
Lower McNairy, Coon Creek
21-SDW-065
391018.5
3999658.8
146.6
0
-90
51.8
100
170
30.5
51.8
21.3
3.6
Lower McNairy, Coon Creek
including
140
170
42.7
51.8
9.1
7.5
Lower McNairy, Coon Creek
21-SDW-070
391316.1
3999360.7
151.7
0
-90
54.9
145
180
44.2
54.9
10.7
4.5
Lower McNairy, Coon Creek
21-SDW-071
391452.8
3999228.1
139.9
0
-90
42.7
75
140
22.9
42.7
19.8
3.2
Lower McNairy, Coon Creek
including
110
130
33.5
39.6
6.1
7.6
Lower McNairy
21-SDW-072
391737
3999316.6
125.0
0
-90
27.4
45
90
13.7
27.4
13.7
3.4
Lower McNairy, Coon Creek
including
55
75
16.8
22.9
6.1
5.5
Lower McNairy
21-SDW-100
391010.3
4000543.3
132.9
0
-90
39.6
55
130
16.8
39.6
22.9
2.9
Lower McNairy, Coon Creek
21-SDW-101
392101.2
4000708
136.8
0
-90
47.2
35
155
10.7
47.2
36.6
2.3
Upper McNairy, Lower McNairy, Coon Creek
including
120
155
36.6
47.2
10.7
5.8
Lower McNairy, Coon Creek
To view entire original news in English language, please follow the link: