Originally posted by Vert-Dah-Feurk!:

I have already. Just wanted to know if anyone has any insight to what it may be used for?

I know for sure that there is a Flametal Sword that will be crafted from this, however I believe it is only available in debug mode via command console as of now. Feel free to dispute this for I have not tinkered around with that yet nor do I know what exactly the dev's have planned for the Ashlands biome beyond what it is now.