Medallion Resources Completes Bench-Scale Testwork

About this update from Gamma Resources Ltd.

[{"type":"text","content":"VANCOUVER, British Columbia, Feb. 07, 2018 (GLOBE NEWSWIRE) -- Medallion Resources Ltd. (TSX-V:MDL) (OTCPK:MLLOF) (Frankfurt:MRDN) (“Medallion” or the “Company”), the smart producer of magnet metals, is pleased to announce that it has successfully completed the bench-scale optimization phase of its metallurgical testwork. This critical phase produced a cerium-depleted, rare-earth element (REE) concentrate derived from monazite sand. The final report from the Saskatchewan Research Council (SRC) is expected within 10-15 days. The Company will be publishing the results and initial conclusions. The Company’s testwork seeks an enhanced process to optimize the recovery of neodymium and praseodymium (NdPr), which are the critical “magnet metals” used in high-powered, rare-earth permanent magnets. These magnets are required for electric and hybrid vehicles, wind power generation, and robotics. Medallion’s enhanced extraction process provides for cost-effective removal of cerium, a plentiful but low-valued REE that typically constitutes well over 40% of the rare-earth content of monazite. As such, the removal of cerium from a rare-earth concentrate product dramatically increases the value of a concentrate versus a similar one with cerium. “Although we employ industry-standard techniques in our extraction process, we are implementing a number of enhancements to ensure we achieve environmental best practice and maximum utility of all processed materials and reagents,” said Kurt Forrester, PhD, Medallion’s consulting metallurgist. “This means that we have a high confidence in commercializing our process. And we’re working closely with the SRC team identifying opportunities for cost reduction and additional revenue streams.” North American Supply Chain The metallurgical testwork used monazite sand sourced from a North American, heavy-mineral sands miner. This is significant to the development of a North American, rare-earth supply chain. In June 2017 Rare Earth Salts and Medallion Resources completed a non-exclusive commercial agreement to produce, market and share revenues from the sale of finished rare-earth products–pursuant to which Medallion will produce and supply a rare-earth concentrate to Rare Earth Salts for separation and refining into marketable rare-earth oxides. These emerging relationships hold the promise of a complete N...

More updates from Gamma Resources Ltd.