VANCOUVER, BC--(Marketwired - February 07, 2017) - Medallion Resources Ltd. (TSX VENTURE: MDL) (OTC PINK: MLLOF) ("Medallion" or the "Company"), today announced the Mineral Processing and Metallurgical Testing section of Saskatchewan Research Council ("SRC") has been engaged to perform advanced process test-work for further development of the Company's rare-earth extraction process.
"SRC is one of only a few labs in North America with the expertise, facilities and licenses to develop rare-earth extraction processes at scale," said Don Lay, President & CEO. "We reported success in bench-level, rare-earth extraction tests and production of a commercially-acceptable concentrate. Now, with the new monazite feedstock material recently delivered to SRC in Saskatoon, we're proceeding with the next level of process development in order to optimize recovery, reduce costs and produce co-products at a larger scale."
The SRC test-work aims to provide technical confirmation, including depletion of cerium from the concentrate, needed to implement a planned integrated pilot plant. Pilot plant data will form the foundation of an engineering study and confirmation of the commercial viability of the proposed processing facility. Medallion remains in discussions with major heavy-mineral sands producers regarding monazite feedstock supply as well as prospective rare-earth concentrate customers.
About Medallion Resources
Medallion Resources is developing an approach for low-cost, near-term, rare-earth element (REE) production by exploiting monazite. Monazite is a rare-earth phosphate mineral that is widely available as a by-product from mineral sand mining operations. REEs are critical inputs to electric and hybrid vehicles, electronics, imaging systems, wind turbines and strategic defense systems. Medallion is committed to following best practices and accepted international standards in all aspects of mineral transportation, processing and the safe management of waste materials. More about Medallion (TSX-V: MDL; OTCPK: MLLOF; Frankfurt: MRD) can be found at medallionresources.com.
