Medallion Shipping Magnet Metal-Rich Concentrate for Evaluation
Medallion Shipping Magnet Metal-Rich Concentrate for Evaluation
VANCOUVER, British Columbia, June 07, 2018 -- Medallion Resources Ltd. (TSX-V:MDL) (OTCPK:MLLOF) (Frankfurt:MRDN)
(“Medallion” or the “Company”), today announced that it is shipping a sample of its magnet metal-rich, rare earth concentrate
to Rare Earth Salts Separations & Refining LLC (“RES”), a US-based materials technology company, for evaluation.
In June of 2017, Medallion partnered with RES to jointly produce, market and share revenues from the sale of finished rare
earth products to meet the growing global demands as the key input for lightweight and high-powered rare earth magnets.
Virtually all current and planned hybrid and electric vehicles require rare earth magnets in the electric traction motors powering
the vehicle. The evaluation of this and other concentrate samples provided by Medallion, will help to optimize for production-
scale, monazite-derived feedstock for Rare Earth Salts’ facility.
By combining business models and environmentally-friendly technologies, Medallion and RES are working to take the
abundant and available by-product rare earth element mineral monazite and processing it through to marketable rare earth
oxides in a fashion that is cost-competitive to Chinese production–all within a small footprint in North America with relatively
low capital costs.
An image accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/3c704cbd-a72e-4922-b27c-cb9f0d27595b
“We’ve made solid progress on our extraction flowsheet development work in 2018,” said Don Lay, President & CEO of
Medallion. “Notably, this April, at a rare earth industry event, Rare Earth Salts announced its plans to dramatically expand
commercial production output of rare earth oxides. In response, we’re working to ensure they’re well supplied with a suitable
feedstock rich in magnet metals to meet their expected customer demands.”
Medallion produced a mixed rare-earth concentrate sample from by-product monazite sand that was provided by a North
American heavy-mineral-sands producer during the Company’s recent bench-scale metallurgical tests. As disclosed in
Medallion’s news release of March 22, 2018, the testwork produced a cerium-depleted rare earth concentrate containing
41.6% of the magnet metals neodymium and praseodymium (NdPr) by mass. The contained NdPr represents an estimated
81.6% of the concentrate value, based on current market values of the contained REEs.
Medallion and Rare Earth Salts
Medallion and RES are cooperating on a business model to produce and market rare earth products based in an integrated
North American production chain. Medallion’s role is to produce a rare earth concentrate by sourcing and extracting rare
earths from the mineral monazite, a by-product of heavy mineral sands mining operations. RES has developed a clean and low
-cost separation technology that currently produces rare earth oxides from recycled lamp phosphor feedstock, now employed
at RES’ commercial facility in Beatrice, Nebraska. RES will separate and refine commercial quantities of Medallion’s monazite
-derived rare earth concentrate into marketable rare earth products.
About Medallion Resources
Medallion Resources is pursuing near-term magnet metal production, firstly in North America, by exploiting by-product
monazite. Monazite is a rare earth element (REE) phosphate mineral containing significant amounts of the key magnet metals
neodymium and praseodymium (NdPr). NdPr is the key input material for the high-powered permanent rare earth magnets
required for growing demands of vehicle electrification, wind power generation and robotics. Monazite is widely available as a
by-product from heavy mineral sand mining operations and has a history as a commercial REE resource and well-understood
metallurgy. 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 can be found
at medallionresources.com.
Contact: Donald Lay, President & CEO at +1.604.681.9558 or [email protected].
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
Medallion management takes full responsibility for content and has prepared this news release. Some of the statements
contained in this release are forward-looking statements, such as statements regarding the efficiency of RES and the
Company’s REE extraction methods, the continued partnership of Medallion and RES and the establishment of a North
American production chain for the extraction of REEs. Since forward-looking statements address future events and
conditions, by their very nature, they involve inherent risks and uncertainties, including the risks related to market conditions
and regulatory approval and other risks outlined in the Company’s management discussions and analysis of financial results.
Actual results in each case could differ materially from those currently anticipated in these statements. Also, in order to
proceed with Medallion’s plans, additional funding will be necessary and, depending on market conditions, this funding may not
be forthcoming on a schedule or on terms that facilitate Medallion’s plans. These forward looking statements are made as of
the date of this press release, and, other than as required by applicable securities laws, Medallion disclaims any intent or
obligation to update publicly any forward looking statements, whether as a result of new information, future events or results or
otherwise.