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Medallion Resources Secures Government of Canada Funding
VANCOUVER, British Columbia, March 20, 2019 (GLOBE NEWSWIRE) -- Medallion Resources Ltd. (TSX-V: MDL; OTCPK: MLLOF – “Medallion” or the “Company”) today announc
About this update from Gamma Resources Ltd.
[{"type":"text","content":" VANCOUVER, British Columbia, March 20, 2019 (GLOBE NEWSWIRE) -- Medallion Resources Ltd. (TSX-V: MDL; OTCPK: MLLOF – “Medallion” or the “Company”) today announced that it will receive up to $34,800 in funding from the federal government through the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) to research the optimization of its monazite rare earth extraction process at the University of Toronto. “Monazite contains significant quantities of the mineral phosphate. Given this, producing a good phosphate by-product, efficiently, is almost as important as our key rare earth concentrate product,” said Kurt Forrester, PhD, Medallion’s metallurgist. “We believe developing modern thermodynamic models for the phosphate conversion and caustic regeneration phase will help automate the process and reduce operations costs.” The optimization research project, with a total budget of about $46,400, will be managed by Kurt Forrester and conducted by a research team within the University of Toronto’s Chemical Engineering & Applied Chemistry Department. The University of Toronto project is in addition to the Company’s recently announced NRC IRAP agreement supporting Medallion’s final major test work in the process development of its rare earth element extraction process. That project will be conducted by the Saskatchewan Research Council with up to $50,000 in funding from the federal government through NRC IRAP with total project cost of about $80,000. In order to receive the contribution from NRC IRAP, Medallion must meet all conditions of the contribution, which include maintaining adequate records and submitting periodic status reports. More info can be found here: nrc-cnrc.gc.ca/eng/irap/. Medallion Strategy Medallion is developing a modern, safe and automated process to extract REEs from monazite tailing streams. Monazite sand is available as a by-product from heavy mineral sands mining operations and is recognized by the US Geological Survey as an important commercial source of REEs. Medallion has established relationships with heavy-mineral sand miners and believes commercial agreements can be negotiated as plant design, available monazite feedstock and potential production volumes are aligned during 2019. By-product monazite represents an important potential source of magnet metals to automakers...