The Alto Paraná project is located in eastern Paraguay approximately 100 km north of Ciudad del Este. Infrastructure and access to the property are excellent as a paved national highway bisects a major portion of the property and it is within close proximity to a hydroelectric power source. Mineralization consists of laterite containing ilmenite, titanomagnetite and magnetite derived from Early Cretaceous tholeiitic basalts of the Paraná Basin and associated gabbro intrusions. The basalts and gabbros have weathered to laterite to an average depth of approximately 7 metres over an extensive area.
Mining at Alto Paraná is expected to produce an ilmenite concentrate, which after smelting will result in titanium slag and pig iron products. The titanium slag would be sold as a feedstock for the production of titanium dioxide pigment. The pig iron would be sold to the iron and steel industry as a source of high-quality iron units for the production of steel or to the foundry industry for the production of high quality ductile iron castings.
Over 90% of titanium dioxide feedstocks are used for pigment manufacturing and smaller quantities in the production of titanium metal. Titanium dioxide pigment is favoured for its whiteness, ultra violet protection, non-toxicity, inertness and it imparts brightness and opacity to products including paints, coatings, paper, ink, plastics with many other applications as additives to cosmetics, foods and textiles.
The December 2016 Inferred Mineral Resource at Alto Paraná consists of 4.9 billion tonnes at 7.41% titanium dioxide and 23.58% iron oxide FeO (6.0% titanium dioxide cut-off). The resource is atypically high in titanium values when compared to most beach sand deposits.