VANCOUVER, British Columbia, April 14, 2021 (GLOBE NEWSWIRE) — Medallion Resources Ltd. (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) – “Medallion” or the “Company”), pronounces completion of a collection of diagnostic check work on the Australian Nuclear Science and Technology Organization (ANSTO) in Sydney, to extract uncommon earth parts (REE) from mineral sand monazite. The monazite was sourced from an Australian mineral sand mine. Discussion is ongoing with further potential suppliers.
Mineral sand monazite is an considerable REE-rich feedstock, that may be accessed as a by-product from world mineral-sand mines that concentrate on zirconium and titanium, with out the necessity for extra mining. Medallion’s enterprise mannequin is centered on the Medallion Monazite Process, a transferable and scalable know-how designed to simply accept a number of mineral-sand monazite feedstocks and extract high-value REEs with excessive effectivity, excessive restoration and zero liquid waste.
Current and ongoing check work is concentrated on correlating low price “diagnostic” mineralogical and chemical knowledge from “run of mine” monazite, sourced from working mines and potential producers, with extraction outcomes from the Medallion Monazite Process. This rising knowledge financial institution will guarantee optimum course of circumstances will be anticipated for all monazite sources and optimum websites recognized for a Medallion Monazite Processing hub.
The diagnostic check work builds upon analysis accomplished by Medallion over the previous 5 years in Saskatchewan, Canada. ANSTO’s deep expertise in REE-processing and mineral sand monazite makes it an unmatched analysis accomplice for Medallion’s ongoing work.
Medallion makes use of Life Cycle Assessment (LCA) as a software to assist cut back the environmental and CO2 affect of REE manufacturing wherever potential. Processing mineral-sand monazite near supply presents probably the most sustainable answer versus lengthy distance transport. As Australia, South East Asia and the Indian Ocean area are the dominant world sources of mineral sand monazite, increasing analysis networks on this area, with companions like ANSTO, is extremely related for future enterprise alternatives.
“The study we have just completed at ANSTO enables us to be increasingly predictive toward REE- extraction and separation process conditions,” mentioned Mark Saxon, CEO and President. “By acquiring a simple set of data from monazite suppliers, we can be predictive on the process conditions, costs and quantity of market-ready REE products.”
Techno-Economic Assessment (TEA) Update
Utilizing unbiased consultants, Medallion is presently finalizing a Techno-Economic Assessment (TEA) and Life Cycle Assessment (LCA) for the Medallion Monazite Process (see press launch dated November 10 2020) and January 5 2021. These research draw collectively Medallion’s engineering, monetary and environmental affect knowledge and will turn into the inspiration of Medallion’s know-how execution technique.
Delivery of the TEA has sadly been impacted by COVID-19 staffing restrictions inside consulting service suppliers. Results are actually anticipated by mid-May 2021.
Mark Saxon additional commented, “while reporting delays are never ideal, we acknowledge the current challenges and restrictions faced by consultants and researchers in the execution of their business. The financial and LCA model is a far-reaching study that will allow us to compare and prioritize operating locations and feedstocks to ensure the most profitable and lowest-environmental impact decisions are made.”
About Medallion Resources
Medallion Resources has developed a proprietary course of and associated enterprise mannequin to attain low-cost, near-term, rare-earth ingredient (REE) manufacturing by exploiting monazite. Monazite is a rare-earth phosphate mineral that’s broadly accessible as a by-product from mineral sand mining operations. Furthermore, Medallion has just lately licensed an modern REE separation know-how from Purdue University which will be utilized by Medallion and sub-licensed by Medallion to third-party REE producers.
REEs are vital inputs to electrical and hybrid automobiles, electronics, imaging programs, wind generators and strategic protection programs. Medallion is dedicated to following finest practices and accepted worldwide requirements in all points of mineral transportation, processing and the protected administration of waste supplies. Medallion makes use of Life Cycle Assessment methodology to assist funding and course of choice making.
More about Medallion (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) will be discovered at medallionresources.com.
Mark Saxon, President & CEO
Donald Lay, Director & VP, Corporate Development
+1.604.681.9558 or [email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as that time period is outlined within the insurance policies of the TSX Venture Exchange) accepts duty for the adequacy or accuracy of this launch.
Medallion administration takes full duty for content material and has ready this information launch. Some of the statements contained on this launch are forward-looking statements, reminiscent of statements that describe Medallion’s plans with respect to the completion of further tranche(s) of the Offering and the supposed use of the proceeds. Since forward-looking statements deal with future occasions and circumstances, by their very nature, they contain inherent dangers and uncertainties, together with the dangers associated to market circumstances and regulatory approval and different dangers outlined within the Company’s administration discussions and evaluation of monetary outcomes. Actual leads to every case might differ materially from these presently anticipated in these statements. Also, to be able to proceed with Medallion’s plans, further funding might be obligatory and, relying on market circumstances, this funding is probably not forthcoming on a schedule or on phrases that facilitate Medallion’s plans. These forward-looking statements are made as of the date of this press launch, and, aside from as required by relevant securities legal guidelines, Medallion disclaims any intent or obligation to replace publicly any forward-looking statements, whether or not on account of new data, future occasions or outcomes or in any other case.