Medallion has completed a suite of diagnostic tests performed at the Australian Nuclear Science and Technology Organization (ANSTO).
The tests were performed to extract rare earth elements from monazite that was sourced from an Australian mineral sand mine.
Mineral sand monazite is an abundant rare earth element feedstock. It can be extracted as a by-product from global mineral-sand mines that target zirconium and titanium without the need for additional mining.
The Medallion Monazite Process is a transferable and scalable technology designed to accept multiple mineral-sand monazite feedstocks and extract high-value rare earth elements with high efficiency, high recovery and zero liquid waste.
Processing mineral-sand monazite close to the source, such as the project in Australia, presents the most sustainable solution compared to transporting materials at long distances.
ANSTO, located in Sydney, Australia, has extensive experience in REE processing and mineral sand monazite, making it an obvious research partner for Medallion’s ongoing work.
The diagnostic test work performed at ANSTO builds upon research completed by Medallion over the past 5 years in Saskatchewan.
Mark Saxon, Medallion's CEO and President commented,
“The study we have just completed at ANSTO enables us to be increasingly predictive toward REE- extraction and separation process conditions.”
He added,
“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.”
Discussion is ongoing with additional prospective suppliers.
Medallion is a Canada-based company involved in the acquisition and evaluation of mineral resource projects.
Medallion Resources (MDL) is steady, trading at $0.37 per share as of 10:41 am ET.