Mont Royal restarts work programs at Ashram, Fluorspar

Executive Summary

• Mont Royal Resources has restarted flotation test‑work on its wholly owned Ashram REE & Fluorspar project, engaging Auralia Metallurgy to lead the program.
• A 700 kg bulk sample from Ashram has been shipped to Australia for accelerated analysis; prior Lakefield testing produced a high‑grade (≈36 % REO) concentrate.
• The program will also evaluate commercial fluorspar (CaF₂) production and generate additional concentrate for downstream hydrometallurgical optimization and new processing technology trials.

Key Details

• Testwork Partner: Auralia Metallurgy Pty. Ltd., specialist in rare‑earth flotation.
• Sample Logistics: ~700 kg bulk sample of Ashram mineralised material arrived in Australia; expedited analysis underway.
• Previous Results: SGS Lakefield campaign yielded a 36 % REO concentrate with strong grade and recovery metrics (35.8–36.8 % REO, 65–68 % overall recovery).
• Flotation Testwork Plan:
• Initial 1‑kg three‑stage cleaner tests, followed by multiple 20 kg bulk tests up to 400 kg of material.
• Assay of floated concentrate for REEs, multielement content, and impurities; blended concentrates will feed downstream programs.
• Fluorspar (CaF₂) Evaluation:
• Targeting a metallurgical‑grade fluorspar product (~65 % CaF₂) from REE flotation tailings.
• Feasibility of higher‑grade acidspar (>94 % CaF₂) will also be investigated; company has previously produced saleable acidspar.
• Next Steps – REE Flotation: Variability testing and pilot‑plant programs slated for the prefeasibility study, targeted to start Q3 2026.
• Next Steps – Fluorspar: Continue evaluation of fluorite recovery from REE tailings; inclusion of a fluorspar circuit could enhance project economics.
• Hydromet Testwork: Additional optimisation of sulphation bake process planned for PFS work package, using concentrate generated by Auralia program.
• New Processing Technologies: Discussions with technology groups for alternative flowsheet options; samples from the programme will be made available in 2026.
• Strategic Context: Ashram is a Tier 1 REE deposit with high‑value fluorspar by‑product potential, part of Mont Royal’s broader critical minerals portfolio (including Eldor niobium and Northern Lights lithium projects).

Notable Quotes

“We are very pleased to see this important work now under way, with momentum building towards derisking the technical aspects of the Ashram project… The flotation concentrate generated from this program will increase our confidence in what is already a robust flowsheet for the preliminary economic assessment and prefeasibility studies.” – Nicholas Holthouse, Managing Director, Mont Royal Resources Ltd.