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Medallion Resources Completes Final Testwork Program Responds to US Department of Defense Request
VANCOUVER, British Columbia, Aug. 20, 2019 (GLOBE NEWSWIRE) -- Medallion Resources Ltd. (TSX-V: MDL; OTCPK: MLLOF; Frankfurt: MRDN) – (“Medallion” or the “Compa
About this update from Gamma Resources Ltd.
[{"type":"text","content":" VANCOUVER, British Columbia, Aug. 20, 2019 (GLOBE NEWSWIRE) -- Medallion Resources Ltd. (TSX-V: MDL; OTCPK: MLLOF; Frankfurt: MRDN) – (“Medallion” or the “Company”), pursuing smart production of rare-earth magnet metals, announces that the Saskatchewan Research Council (SRC) has successfully concluded the final major testwork program for Medallion’s rare-earth element (REE) extraction process. Medallion is developing the process and business model to quickly get to REE production in North America by processing by-product monazite sand. “This program’s key work, conducted by the SRC, was to produce and analyze different waste streams from additional ‘crack and leach’ tests on our monazite sand feedstock,” said Kurt Forrester, PhD, Medallion’s metallurgist. \"We are now engaging processors, waste management and transportation groups to determine disposal options and costs. This fits with our recently announced plans to commission trade-off studies investigating suitable North American sites for our proposed plant including transportation costs related to feedstock, re-agents and waste material.\" Medallion has received funding from the federal government through the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) in support of this program. US Department of Defense Request for Information (RFI) The United States’ Department of Defense is conducting a wide assessment of North America’s REE supply chains, including the main barriers to market experienced by domestic business. The RFI stated, “the domestic industrial capability to provide critical materials for use in essential citizen applications is vital for national security.” The department will use the information gathered to propose recommendations for a healthy manufacturing and defense industrial base, including potential government investment in relevant projects. Medallion has responded to the department’s RFI (which includes Canada as a “domestic” source) to put its monazite by-product processing approach as a route to achieving near-term North American production of REEs. With China supplying approximately 80% of the world’s REEs and the US defense industry’s heavy reliance on China’s rare earth resources for important military technology, significant concerns have been raised regarding national security. Medallion Strategy Medallio...