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Medallion Resources Completes Process Engineering Work for Rare-Earth Element Extraction
VANCOUVER, British Columbia, Feb. 25, 2020 (GLOBE NEWSWIRE) -- Medallion Resources Ltd. (TSX-V: MDL; OTCPK: MLLOF; Frankfurt: MRDN) (“Medallion” or the “Company
About this update from Gamma Resources Ltd.
[{"type":"text","content":" VANCOUVER, British Columbia, Feb. 25, 2020 (GLOBE NEWSWIRE) -- Medallion Resources Ltd. (TSX-V: MDL; OTCPK: MLLOF; Frankfurt: MRDN) (“Medallion” or the “Company”), pursuing North American production of rare-earth magnet metals, today reports the completion of Process Engineering Design for its proprietary extraction of a rare-earth element (REE) concentrate. Summary of this news Completion of an extensive Process Engineering Design project for the extraction of REE from monazite sand, including detailed process flow diagrams and full waste management solutions. Project provides the requirements for a Techno-Economic Assessment (see description below) that will define economic considerations for a US-based REE operation. Sites and trade-off studies are now being evaluated in the US for prospective plant locations. Once complete, Medallion will progress to plant engineering, with a specific capacity and location. Medallion’s plant feedstock is by-product monazite sand, an REE mineral rich in rare-earth magnet metals, essential for high-strength magnets required to power EVs and hybrids. “Completion of this design phase is a key milestone for Medallion. It marks the culmination of core test work and process development stages. We are now combining this work with trade-off studies already underway,” said Dr Kurt Forrester, consulting metallurgist. “This data forms the basis for our planned Techno-Economic Assessment that will provide design engineering specifications and produce capital and operating cost estimates for our proposed US rare-earth plant.” The engineered process utilizes monazite sand, a low-cost by-product mineral, and provides a clean, safe, and automated REE-supply solution without the need for additional mining or upgrading. Monazite is produced in large volume in the eastern United States as a by-product from heavy-mineral sands mining. Today, this valuable material is stockpiled, sold to China, or returned to the mining pit from where it was extracted. Medallion’s process optimizes the extraction of a clean rare-earth element concentrate, which is ready for separation into marketable oxides, while dealing effectively with the waste material. The Medallion process allows for a relatively rapid and low-capital production of REEs–there is no requirement to build or permit a mine or upgrade an operation. Feedstock c...