Geomega Resources (CVE:GMA) unveiled Thursday preliminary metallurgical results from its Montviel rare earths-niobium project near Level-sur-Quévillon, Québec, with recoveries as high as 97% total rare earth oxides (TREO).
The junior miner's shares rallied 2.7 per cent to 38 cents Thursday morning.
The company said the results were obtained in the conception of the preliminary processing flow sheet for the project.
combined gravity/flotation methods, high TREO and niobium (Nb2O5)
recoveries were seen, with 87% of TREO and 95% of Nb2O5.
The company said there was also 31% whole ore mass reduction.
ferromagnetic separation on whole mineralized ore, results were also
"successful", the company said, with recovery of 97% TREO and 96% Nb2O5,
with 16% whole ore mass reduction.
Assuming similar success
using ferromagnetic separation on mineral concentrate which contained 80
per cent of the iron mineralization present in the mineralized ore,
pre-concentrate estimated recovery results were 85% of TREO and 90% of
Nb2O5, with 42% whole ore mass reduction.
Geomega also said that
highlights of the metallurgy results included the production of an iron
by-product, separated during physical pre-concentrate preparation.
"The recovery factor in these preliminary results is excellent," said CEO of Geomega, Simon Britt.
Pearse, GéoMégA’s consulting metallurgist, has added a ferromagnetic
separation (step 2) subsequent to gravity/flotation (step 1), which
results in additional ore mass reduction and excellent recoveries (97%
TREO and 96% Nb2O5), while producing a potential saleable iron
"The iron removal triggers further improvements in the pre-concentrate which will reduce hydrometallurgical costs."
Britt also said that additional tests and "optimization at every level" are ongoing.
from location, Montviel has distinct similarities with the world’s
largest rare earths resource in Bayan Obo (Inner Mongolia), which is
primarily an iron ore deposit," he added.
The processing flow
sheet for the project is now conceptually defined for inclusion in the
preliminary economic assessment for Montviel, which is now in progress
by G Mining Services.
COREM, a consortium of applied research
for the processing and transformation of mineral substances, was hired
in March to undertake parallel testing on ferromagnetic separation on a
representative sample of Montviel’s rare earths/niobium enrichment zone
Approximately 150 kilograms of uncrushed drill core was delivered to COREM, Geomega said.
and results on different grain size, roasting temperatures and gradient
2 strength are expected to be completed in the coming weeks.
Montviel project is located approximately 100 km north of
Lebel-sur-Quévillon in the southern, developed, part of Quebec's "Plan
Nord", an $80 billion economic, social and environmental development
plan of Northern Quebec over a period of 25 years.
In September last year, the company released an initial NI 43-101
compliant resource for the project at a base cut-off grade of 1% TREO,
for a total of 183.9 million tonnes averaging 1.45% TREO in the
indicated resources category and 66.7 million tonnes averaging 1.46%
TREO in the inferred resources category.
The miner said another NI 43-101 compliant resource calculation for
the Montviel core zone is slated to be finished in July. The company
completed a phase 2 drill program at the site in March, totaling 24,234
metres over 50 holes.
Highlights from the southwest portion of the core zone included 2.08
percent total rare earth oxides (TREO) and 0.22 percent niobium oxide
(Nb2O5) over 245.9 metres in hole MVL-11-32D, including 3.28 percent
TREO and 0.25 percent Nb2O5 over 31.5 metres and 2.59 percent TREO and
0.55 percent Nb2O5 over 19.5 metres.
In April, Geomega closed the second and final tranche of a $3.5
million private placement financing, and recently announced plans to
raise another $206,250 through a non-brokered private financing to fund
the development of Montviel.
The asset is lauded as one of the largest TREO resources outside
China, which has the potential for a "significant near term role" in the
growing permanent magnet sector due to its proximity to infrastructure
and available labour.
Rare earths refer to a group of 15 specific elements, known as
lanthanides, plus scandium and yttrium, used for everything from
smartphones to guided missiles. While some rare earths are relatively
common, they are dispersed in a way that makes it difficult to find
deposits with high enough ore grades to economically exploit.