Geomega provides update on Montviel hydrometallurgical process developments

Core Viewpoint - Geomega Resources Inc. has made significant advancements in the hydrometallurgical process for the Montviel rare earth deposit, aiming to enhance project economics and reduce environmental impact compared to previous studies [2][3][4]. Process Improvements - The hydrometallurgical testwork has led to the removal of the flotation circuit, which previously accounted for 15% rare earth element (REE) loss to tailings, thus reducing operating costs and capital expenditures [5]. - The process flow sheet has been simplified, cutting the number of steps compared to earlier patented work [5]. - The project now aims to valorize other metals present in the ore, which helps mitigate financial risks associated with rare earth price fluctuations [5]. Economic and Environmental Benefits - The project is expected to recover approximately 40% of the overall ore into various offtake streams, enhancing economic viability [5]. - Recovery of high-purity iron and other critical minerals, including rare earth elements, scandium, and niobium, is projected to be around 95% for REO and Sc, and 85% for Nb [5]. - The recovery of iron phosphate and manganese/magnesium salts is anticipated to create additional revenue streams for the agricultural and battery markets [5]. Technical Assessment - An internal techno-economic assessment was completed using Aspen Plus software, with further external work required before a Preliminary Economic Assessment (PEA) can be published [3]. - The positive conclusions from the internal study will guide the next steps in advancing the Montviel deposit [3][6]. Support and Collaboration - The project has received financial support from the Quebec government, highlighting the province's commitment to developing the critical and strategic mineral industry [4]. - Geomega is focused on working with major partners to extract value from mining feeds and industrial residues, emphasizing a consistent approach to reducing environmental impact [9].