Hyperion finds new high grade, critical minerals deposit at Titan project

Hyperion Metals is having a good start to the week, announcing it has discovered a near surface, high grade critical minerals deposit close to the recently announced Maiden Resource Estimate (MRE) at its Titan Project in Tennessee, USA.

The company is confident that the new discovery – called the Camden Deposit – reaffirms the Titan Project as a major US critical mineral province.

The drill results from 30 of 80 holes drilled in the area show thick, near surface and high-grade intercepts of Total Heavy Minerals (THM), including:

13.7m at 4.2% THM within 25.9m at 2.9% THM (from surface);
7.6m at 5.2% THM within 24.4m at 2.6% THM (from 5m below surface);
12.2m at 4.6% THM within 24.4m at 2.8% THM (from 6m below surface);
10.7m at 4.8% THM within 21.3m at 3.1% THM (from surface); and
10.7m at 4.2% THM within 30.5m at 2.3% THM (from surface).

The remaining 50 drill holes are expected to be released during this quarter.

Given these results, and the potential for compelling economics including low strip and high grade, the company will expand the Titan Project scoping study to incorporate the Camden Deposit, with the study expected to be completed in Q1 2022.

Shaping up to be a high quality undeveloped mineral project

Hyperion Metals (ASX:HYM) recently announced a maiden MRE for the Titan Project of 431 million tonnes at 2.2% THM, containing 9.5 million tonnes THM at a 0.4% cut-off that includes 56% of the MRE classified in the indicated resource category.

The MRE occurs as a single, large, and coherent near-surface deposit, named the Benton Deposit, with the new Camden Deposit representing the up-dip extension of the lower portion of the McNairy Sand formation encountered at Benton.

“With a maiden JORC resource of 431 million tonnes, and now these shallow, high-grade intercepts, it is quickly becoming apparent that the Titan Project is one of the best undeveloped critical minerals projects globally,” Hyperion CEO and managing director Anastasios Arima said.

“No other development has the Titan Project’s compelling combination of scale, grade, high value critical mineral products, low-cost inputs, world class infrastructure and location.”

The company is only in the early stages of consolidating and exploring this US critical minerals province.

The plan going forwards is to drill, evaluate, and progress this discovery and to assess new high potential areas within the Titan Project – which Hyperion expects to scale rapidly.