MONTREAL, Sept. 02, 2020 (GLOBE NEWSWIRE) — Geomega Resources Inc. (“Geomega” or the “Company”) (TSX:V.GMA) (OTC: GOMRF), a developer of unpolluted applied sciences for the mining, refining and recycling of uncommon earths, is happy to announce that it’s increasing and leveraging its Analysis & Growth experience. Geomega is at present evaluating the financial potential to extract and refine uncommon earths and different vital metals from a broader vary of mining feeds, together with mining and industrial waste streams (tailings). Geomega has begun to work with corporations which might be in manufacturing, and thru testing at Geomega’s R&D take a look at centre in Boucherville, the corporate will probably be evaluating the potential to extract worth that’s in any other case being misplaced at the moment. Geomega’s intention is to use its varied applied sciences, by collaborative licensing and royalty agreements with a number of industrial companions, permitting for the extraction of priceless metals contained of their waste streams, which will not be economically, technologically, or environmentally possible at the moment.
“Geomega’s company purpose is to develop revolutionary applied sciences for extraction and separation of uncommon earth parts and different vital metals important for a sustainable future,” stated Kiril Mugerman, President & CEO of Geomega. “The applied sciences in query will differ from the ISR expertise that was developed for recycling of uncommon earths from everlasting magnets. Nonetheless, regardless of the metallic or the supply, we’re adopting a constant strategy to scale back the environmental influence and to contribute to decreasing greenhouse gases (GHG) emissions by recycling of the main reagents within the course of and lowering web vitality consumption.”
“It’s unlucky that so many vital metals, in fairly massive portions, are misplaced in mine tailings and different waste streams once they may doubtlessly be recovered utilizing revolutionary processing applied sciences,” stated Dr. Pouya Hajiani, Chief Expertise Officer of Geomega. “When the vast majority of these mines had been put into manufacturing, the worth of a few of these metals within the ore got little or no, if any, consideration. The normal extraction applied sciences weren’t enough in addressing environmental impacts nor had been they financial. Moreover, local weather change necessities are driving a rising demand in vital metals. As such, we’re in discussions with extra corporations which have change into thinking about re-evaluating the economics of extracting uncommon earth and different vital metals from their varied streams whereas lowering waste, if doable, in probably the most environmentally aware method doable,” added Dr. Hajiani.
Geomega is already evaluating a number of feeds within the mining business, e-waste, mining tailings and industrial waste which have important worth in metals similar to cobalt, lithium, vanadium, nickel, niobium, titanium, tantalum, chromium and different metals.
“Geomega’s group has steadily grown together with its experience in metallic extraction, purification and sustainable processes,” stated Mugerman. “Our unique goal was to develop clear and environmentally sustainable metallurgical processes for uncommon earth parts however, as we had developed our experience, we acknowledged that extra alternatives are showing for different metals that are each vital and required for lots of the applied sciences being adopted at the moment within the renewable vitality and automobile electrification sectors. At present, our focus is to proceed working with corporations in manufacturing with energetic streams that want fast and tough to handle options. Our analysis and improvement group must be counseled for bringing the ISR expertise to the purpose whereby the rare-earth magnet recycling challenge is approaching a gradual hand-off to engineers for development. This might create alternatives to judge different metals and different uncommon earth streams that might in the end deliver revenues to the Company within the type of royalties and licenses. Geomega is in discussions with a number of potential industrial companions which might facilitate funding alternatives from the varied ranges of presidency, who help inexperienced innovation applied sciences within the metallic extractive sector. Finally, this may maximize shareholder worth and generate varied potential income streams,” provides Mugerman.
About Geomega (www.geomega.ca)
Primarily based in Boucherville and St-Bruno, Quebec, Canada, Geomega Sources has developed a proprietary, environmentally pleasant “ISR Expertise” that recycles uncommon earth parts with deal with the everlasting magnet business and produces 4 excessive demand, excessive worth, uncommon earth parts (HHREE), particularly Nd, Pr, Tb and Dy.
The Company is advancing in direction of preliminary manufacturing from its demonstration plant to produce HHREE’s to North America and different elements of the world.
Geomega additionally owns the Montviel uncommon earth carbonatite deposit and holds over 16.8M shares, representing roughly 19% of the issued and excellent shares, of Kintavar Exploration Inc. (KTR.V), a mineral exploration firm that’s advancing the Mitchi stratiform copper challenge in Quebec.
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