MONTREAL, May 30, 2018 (GLOBE NEWSWIRE) — Geomega Resources Inc. (“GéoMégA” or the “Corporation”) (TSX-V:GMA) is pleased to announce that Innord Inc. (“Innord”), a private subsidiary controlled by GéoMégA, has obtained confirmation from an end user (“End User”) that the neodymium oxide (Nd2O3) produced from its residues using the proprietary ISR Method is of 99.5%+ purity and can be used for manufacturing of rare earth alloys and permanent magnets. The End User is a a European based world leader in the manufacture and supply of complex alloys and metals specializing in rare earth elements. The End User’s identity cannot be disclosed at the moment due to a confidentiality agreement.
“This is another major milestone achieved by Innord which brings us a step closer to providing an alternative source of supply of rare earth oxides to the permanent magnet industry outside of China. We will now be focusing on purification of other rare earth oxides, larger volume tests and demonstrations and moving towards building our initial larger capacity units prior to starting commercial production from industrial residues.” commented Kiril Mugerman, President and CEO of GéoMégA and Innord.
As previously indicated, the ISR Method uses conventional reagents which are mostly recovered, recycled and re-used, even in the current consecutive batch type operation at Innord’s facility.
The ISR Method meets all the main criteria of an alternative REE separation technology, namely:
- Eliminating the current solvent extraction technology due to its negative environmental impact and high capital cost; and
- Presenting competitive operating costs;
About GéoMégA (www.geomega.ca)
GéoMégA is a mineral exploration and evaluation company focused on the discovery and sustainable development of economic deposits of metals in Québec. GéoMégA is committed to meeting the Canadian mining industry standards and distinguishing itself with innovative engineering, stakeholders’ engagement and dedication to local transformation benefits.
About Innord Inc.
Innord is a private subsidiary of GéoMégA of which GéoMégA owns 96.1%. The goal of Innord Inc. is to develop and optimize the proprietary separation process of rare earth elements based on electrophoresis, for which it holds all the rights. Electrophoresis is the migration of charged species (ions, proteins, particles) in solution in the presence of an electric field. Innord has filed patents in Canada and the United States to protect its novel separation process and is looking to file in other jurisdictions.
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|President and CEO|
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