Auxico Resources Canada Inc (CSE:AUAG, OTCQB:AUXIF) announced the results Thursday of metallurgical testing conducted on rare earth concentrates from its Minastyc property in Colombia.
The metallurgical testing was done using various acid leach processes enhanced by ultrasound and calcination at various stages of the process, the company said.
The results demonstrate the ability to produce commercial concentrates of light and heavy rare earths.
“The content of neodymium and praseodymium achieved by these processes in the light rare earth concentrates, and the content of terbium and dysprosium in the heavy earth concentrates, are commercial products ideally suited for the magnets in electric vehicle batteries,” advisor Jack Lifton said in a statement.
Among the light rare earths, the result of neodymium at 46.9% depicts a concentration of five times the initial ore.
For the heavy rare earths, dysprosium has been concentrated 20 times compared to the initial feed. The market price of dysprosium oxide is roughly US$280,000 per tonne.
Both the light and heavy rare earth concentrates will be the object of additional metallurgical testing in order to produce elemental rare earths using ligand chemistry. Initial results indicate the recovery of 99% of neodymium, praseodymium, samarium and gadolinium, the company said.
Auxico Resources Canada was founded in 2014 and is engaged in the acquisition, exploration and development of mineral properties in Colombia, Brazil, Mexico and the Democratic Republic of the Congo.
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