- Tao Commodities (TAO) has expanded its heavy mineral sands presence at the Titan Project in west Tennessee, U.S.
- The company has increased its holding by around 750 acres by purchasing additional land option agreements
- The new landholdings are directly north to where the company has been drilling
- Titan is now over 3850 acres covering the McNairy Sand geological formation
- On the market this afternoon, Tao is up 1.04 per cent and trading at 48.5 cents per share
Tao Commodities (TAO) has expanded its Titan Project in west Tennessee, U.S.
The company has increased its holdings of titanium and zircon prospective heavy mineral sands (HMS) properties by around 750 acres by purchasing additional land option agreements signed with local landowners.
With the new landholdings, Titan is now over 3850 acres covering the McNairy Sand geological formation, which holds the potential to host a large U.S. domestic source of critical minerals.
Titan is located in the southeast of the U.S., close to significant manufacturing capacity and is in an area that was significantly explored from 1960 to 1990 by DuPont, BHP and others.
Notably, the landholdings are directly to the north of the large contiguous area that has been the focus of Tao's phase one and phase two drilling campaigns.
The phase one drilling program results showed thick intersections of high grade HMS, containing critical minerals including titanium, zircon and monazite/ rare earths.
Tao has now commenced the stage three drilling campaign, which includes infill drilling and bulk sampling.
"We have rapidly continued to add land in areas which are highly prospective and to the north of our outstanding phase one drilling results which included thick zones of high-grade mineral sands containing critical minerals including Titanium, Zircon and Monazite (rare-earths)," Executive Director Anastasios Arima said.
"This new landholding adds further to our potential to delineate a massive deposit of critical minerals in Tennessee," he added.
On the market this afternoon, Tao is up 1.04 per cent and trading at 48.5 cents per share at 1:34 pm AEDT.