Aurania Signs MOU with RSA S.R.L. and Firestone Ventures Inc. to Evaluate Potential Critical Metals Project in Europe

Core Points - Aurania Resources Ltd. has signed a Memorandum of Understanding (MOU) with RSA S.R.L. and Firestone Ventures Inc. to evaluate the potential recovery of nickel and cobalt from tailings at the former Balangero Asbestos Mine in Italy, which is significant for electric battery production as per the European Union Critical Raw Materials Act [2][3][4] - The MOU has a one-year term, during which data collection and sampling will occur, with the possibility of entering a commercial agreement if results are favorable [3][4] Project Details - The main tailings pile at the Balangero site contains approximately 60 million cubic meters of serpentinite waste rock, equating to around 153 million tonnes of material [4][5] - Initial sampling indicates an average nickel grade of 0.15%, suggesting the waste pile could contain approximately 229,500 tonnes of nickel [5][6] - The project aims to extract valuable metals such as nickel, cobalt, chromium, iron, and copper while also capturing carbon and neutralizing asbestos in the tailings [6][12] Technical Aspects - The project focuses on the recovery of awaruite, a natural alloy of nickel and iron, which is considered a "Green Nickel" recovery project due to its lack of sulphide components [10][11] - Ongoing evaluations include mineralogical characterization and the necessary processes for metal recovery, with a focus on the magnetic fraction of the material [11][12] - An international consultancy firm, SRK, has been engaged to conduct a Scoping Level Review of the mineral assets related to the Balangero tailings retreatment project, expected to take about six months [12][13] Environmental Considerations - RSA has over twenty years of experience in managing the Balangero Mine site, successfully reducing airborne asbestos threats, making it safe for local communities [13] - The project is designed to be environmentally friendly, focusing on carbon capture and the permanent destruction of asbestos minerals [6][12] Company Background - Aurania Resources Ltd. is a mineral exploration company focused on precious metals and copper, with its flagship asset located in Ecuador [16]