Resouro Strategic Metals Inc.:: MOU with RETI for REE Extraction & Processing Collaboration
Toronto, Canada - Resouro Strategic Metals Inc. (ASX:RAU) (CVE:RSM) (FRA:8TX) (OTCMKTS:RSGOF) is pleased to announce that it has executed a non-binding Memorandum of Understanding ("MOU") with Cincinnati, Ohio-based Rare Earth Technologies Inc. ("RETI"). Under the terms of the MOU, Resouro and RETI will collaborate on Rare Earth Element ("REE") extraction and separation processing for ore from Resouro's Tiros Titanium and Rare Earths Project (the "Project") located in the Tiros Municipality, Minas Gerais State, Brazil."We're delighted to partner with RETI to test rare earth samples from our Tiros Project," said Chris Eager, CEO of Resouro. "If this initial test work is successful, the RETI team could become a key strategic partner in separating rare earths. This could be a major stepping stone on the road to making our planned Campos Altos Critical Metals Park a secure supplier of rare earths to global markets."
"At RETI, we believe we've cracked the code when it comes to taking on the technical, economic, scale and environmental challenges of refining and separating critical rare earth elements," said Steve Levin, President of RETI. "This partnership will give us the opportunity to test our proprietary results on a project scale and potentially offer a new, clean separation technology to the rare earths market."
Resouro and RETI will work together to pursue a phased approach to scale midstream processing of Total Rare Earth Oxides ("TREO") from Resouro's feedstock, as follows:
Phase I - Initial test-work
Resouro will supply RETI with pilot scale samples of the Project's near-surface high-grade ore composite (~9,100 ppm TREO and ~23% TiO2). RETI will carry out its proprietary extraction process on Resouro's feedstock (at RETI's cost), with Resouro covering the sample delivery to RETI's Cincinnati facility.
Phase II - Midstream feasibility study
Subject to successful initial test-work, the data may be incorporated by Resouro into its Preliminary Feasibility Study (PFS) at its discretion, following completion of the Company's Preliminary Economic Assessment (PEA) which is underway. The parties may thereafter sign a Definitive MOU to set out all terms and conditions for a broader midstream processing partnership, including the possibility of forming a joint venture to develop a mixed rare earths separation facility, initially at RETI's site, and eventually at the Campos Altos Critical Metals Park, under development by Resouro and its partners.
Phase III - Full-scale midstream processing plant construction
If the midstream feasibility results support commercial viability of RETI's technology for the Project's feedstock, Resouro and RETI thereafter may form a joint venture entity to construct full-scale processing facilities (preferably at Campos Altos) for production of high-purity REE and planned future expansion.
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About Resouro Strategic Metals Inc.:
Resouro Strategic Metals Inc. (ASX:RAU) (CVE:RSM) (OTCMKTS:RSGOF) (FRA:8TX) is a Canadian incorporated mineral exploration and development company, listed on the ASX, TSXV, OTC and FSE, focused on the discovery and advancement of economic mineral projects in Brazil, including the Tiros Titanium-Rare Earths Project and the Novo Mundo Gold Project. The Tiros project has 28 mineral concessions totalling 497 km2 located in the state of Minas Gerais, one of the best infrastructurally developed states of Brazil, 350 km from the state capital of Belo Horizonte. Resouro's Mineral Resource Estimate for the Tiros Project contains 165 million tonne of titanium dioxide and 5.5 million tonne of total rare earths oxides within a Measured and Indicated Resource of 1.4 billion tonne at 12% titanium dioxide and 4,000 ppm of total rare earth oxides.
Source:
Resouro Strategic Metals Inc.
Contact:
Chris Eager Executive Chair (Santiago) chris.eager@resouro.com +44 7388 0579809 Emily Evans, SPOKE Media and Content Manager emily@hellospoke.com.au +61 401 337 959
