This new game is Space Faction, a PvP MMO that features ground and space exploration and combat. The factions part of the name comes into play because, according to the official site, "to conquer the unknown, these newcomers must learn to hone their abilities and create factions with others, because as large as the galaxy is, it isn't nearly large enough for everyone."
Space Faction purports to feature a wide variety of classes and activities, from treasure hunting to collecting bounties to surveying planets. And also fighting. Lots and lots of fighting. The game looks to be in early development and is currently working on setting up a Steam Greenlight campaign.
[Thanks to Thomas for the tip!]