Significant Critical Minerals Discovery Uncovered in Utah
A recent discovery in Utah has unveiled a significant deposit of critical minerals and rare earth elements, which could have major implications for North America’s resource independence. Ionic Mineral Technologies, also known as Ionic MT, announced last week that its Silicon Ridge project has confirmed the presence of a halloysite-hosted ion-adsorption clay (IAC) system. This geological formation allows for easier extraction of minerals compared to traditional hard-rock mining methods.
Details of the Discovery
The IAC system identified at Silicon Ridge is believed to be comparable to the deposits responsible for 35-40% of China’s rare earth production and over 70% of the world’s heavy rare earth elements. Ionic MT has characterized its find as an “IAC-Plus” profile, indicating elevated levels of various critical minerals. These include:
- Gallium
- Germanium
- Rubidium
- Cesium
- Scandium
- Lithium
- Vanadium
- Tungsten
- Niobium
Statements from the CEO
Andre Zeitoun, founder and CEO of Ionic MT, described this discovery as a transformational milestone for the United States. He highlighted that this is the first domestic source that is “shovel-ready,” providing a complete range of critical minerals through a more efficient extraction process. Zeitoun remarked in a press release that this project might represent the most substantial critical mineral reserve in the country.
Production Capability
Ionic MT’s Silicon Ridge project has secured all necessary mining permits and boasts a 74,000-square-foot processing facility located in Provo. This setup positions the company for swift commercial production. The project aligns with Ionic MT’s vertically integrated strategy, converting its unique halloysite clay feedstock into three valuable product streams:
- Critical minerals
- High-purity alumina
- Nano-silicon
Exploration and Assessment
The findings stem from a comprehensive exploration program, which included 106 boreholes and 35 trenches analyzed by ISO-certified ALS Chemex laboratories. Initial assays revealed a rare earth and critical metal grade of approximately 2,700 parts per million (ppm) or 0.27%. Notably, this grade was established from just 11% of the total resource area and at a depth of 100 feet, suggesting considerable room for expansion.
Future Plans and Economic Assessment
Timeframes for commercial production are optimistic, with Ionic MT currently conducting a preliminary economic assessment (PEA) for the project, aimed for completion in the first half of 2026. Additionally, the company has enlisted Citigroup as its market adviser to help navigate this emerging opportunity.
In summary, this discovery at Silicon Ridge highlights the potential for significant advancements in critical mineral sourcing within the US, paving the way for greater independence in the global supply chain.
