VANCOUVER, British Columbia, April 14, 2021 (GLOBE NEWSWIRE) — Medallion Sources Ltd. (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) – “Medallion” or the “Firm”), broadcasts completion of a set of diagnostic take a look at work on the Australian Nuclear Science and Know-how Group (ANSTO) in Sydney, to extract uncommon earth parts (REE) from mineral sand monazite. The monazite was sourced from an Australian mineral sand mine. Dialogue is ongoing with further potential suppliers.
Mineral sand monazite is an ample REE-rich feedstock, that may be accessed as a by-product from international mineral-sand mines that focus on zirconium and titanium, with out the necessity for added mining. Medallion’s enterprise mannequin is centered on the Medallion Monazite Course of, 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 nil liquid waste.
Present and ongoing take a look at work is concentrated on correlating low value “diagnostic” mineralogical and chemical knowledge from “run of mine” monazite, sourced from working mines and potential producers, with extraction outcomes from the Medallion Monazite Course of. This rising knowledge financial institution will guarantee optimum course of situations could be anticipated for all monazite sources and optimum websites recognized for a Medallion Monazite Processing hub.
The diagnostic take a look at 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 associate for Medallion’s ongoing work.
Medallion makes use of Life Cycle Evaluation (LCA) as a instrument to assist cut back the environmental and CO2 impression of REE manufacturing wherever potential. Processing mineral-sand monazite near supply presents essentially the most sustainable resolution versus lengthy distance transport. As Australia, South East Asia and the Indian Ocean area are the dominant international sources of mineral sand monazite, increasing analysis networks on this area, with companions like ANSTO, is very related for future enterprise alternatives.
“The examine now we have simply accomplished at ANSTO permits us to be more and more predictive towards REE- extraction and separation course of situations,” stated Mark Saxon, CEO and President. “By buying a easy set of information from monazite suppliers, we could be predictive on the method situations, prices and amount of market-ready REE merchandise.”
Techno-Financial Evaluation (TEA) Replace
Using impartial consultants, Medallion is presently finalizing a Techno-Financial Evaluation (TEA) and Life Cycle Evaluation (LCA) for the Medallion Monazite Course of (see press launch dated November 10 2020) and January 5 2021. These research draw collectively Medallion’s engineering, monetary and environmental impression knowledge and can grow to be the inspiration of Medallion’s know-how execution technique.
Supply of the TEA has sadly been impacted by COVID-19 staffing restrictions inside consulting service suppliers. Outcomes are actually anticipated by mid-Could 2021.
Mark Saxon additional commented, “whereas reporting delays are by no means preferrred, we acknowledge the present challenges and restrictions confronted by consultants and researchers within the execution of their enterprise. The monetary and LCA mannequin is a far-reaching examine that can enable us to check and prioritize working places and feedstocks to make sure essentially the most worthwhile and lowest-environmental impression selections are made.”
About Medallion Sources
Medallion Sources has developed a proprietary course of and associated enterprise mannequin to attain low-cost, near-term, rare-earth aspect (REE) manufacturing by exploiting monazite. Monazite is a rare-earth phosphate mineral that’s broadly out there as a by-product from mineral sand mining operations. Moreover, Medallion has not too long ago licensed an modern REE separation know-how from Purdue College which could be utilized by Medallion and sub-licensed by Medallion to third-party REE producers.
REEs are important 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 elements of mineral transportation, processing and the secure administration of waste supplies. Medallion makes use of Life Cycle Evaluation methodology to help funding and course of determination making.
Extra about Medallion (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) could be discovered at medallionresources.com.
Mark Saxon, President & CEO
Donald Lay, Director & VP, Company Improvement
+1.604.681.9558 or [email protected]
Neither TSX Enterprise Alternate nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Alternate) accepts duty for the adequacy or accuracy of this launch.
Medallion administration takes full duty for content material and has ready this information launch. A number of the statements contained on this launch are forward-looking statements, comparable to statements that describe Medallion’s plans with respect to the completion of further tranche(s) of the Providing and the meant use of the proceeds. Since forward-looking statements deal with future occasions and situations, by their very nature, they contain inherent dangers and uncertainties, together with the dangers associated to market situations and regulatory approval and different dangers outlined within the Firm’s administration discussions and evaluation of economic outcomes. Precise leads to every case may differ materially from these at the moment anticipated in these statements. Additionally, with a view to proceed with Medallion’s plans, further funding will probably be crucial and, relying on market situations, this funding will not be 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 because of new info, future occasions or outcomes or in any other case.