Mont Royal signs up lead engineer to update PEA study for landmark Canadian rare earths project

• Altris Engineering replaces BBA to lead updated PEA for Ashram rare earths project
• Gap analysis underway with study completion targeted for end of Q1 2026
• Study recast to focus on reducing technical risk and capital costs

Special Report: Mont Royal is carrying out an updated preliminary economic assessment for its Ashram rare earths and fluorspar project in northern Quebec, Canada, appointing Altris Engineering as lead engineer.

Altris replaces BBA Consulting and will undertake as its first task a gap analysis to ascertain the work undertaken as part of the previous PEA.

This analysis will also identify key areas required to close out the study using revised throughputs and an updated project configuration.

Once this is completed, Altris will recommence the PEA loseout work packages with a target date set for the end of Q1 2026.

Altris’ team has delivered multiple scoping, pre-feasibility, and feasibility studies as well as leading EPC and EPCM project execution for battery and critical minerals projects across multiple global jurisdictions.

Mont Royal Resources’ (ASX:MRZ) Ashram project is already well advanced with an existing PEA study from 2015, a well-defined high-grade resource and multiple historical metallurgical campaigns completed.

This previous work has indicated outstanding flotation kinetics and the ability to produce a high-quality mixed rare earth oxide product.

“We are very pleased to be recommencing the PEA study and bringing this important piece of work to market,” managing director Nicholas Holthouse said. 

“The focus of the team over the past few months has been to carefully review all the work completed to date and ascertain what can be done with the existing PEA format and metrics. 

“This internal review, along with Altris’ initial Gap Analysis mandate, will allow Mont Royal to recast the study with a strong focus on reducing technical risk and capital costs.”

Ashram project

Ashram is one of North America’s largest monazite-dominant, carbonatite-hosted rare earth deposits with a non-JORC NI43-101 indicated resource of 73.2Mt grading 1.89% total rare earth oxides and 6.6% fluorspar and a further inferred resource 131.1Mt at 1.91% TREO and 4% CaF2.

It boasts a long history of technical work with more than A$50m invested in exploration, drilling and resource definition. 

The project is a single mineralised body that outcrops at surface and has a drill delineated footprint of over 700m along strike, 300m across and 600m deep.

Besides high quantities of valuable magnet REEs, the project also holds significant quantities of fluorspar, which is used in the manufacture of aluminium, gasoline, and uranium fuel.

It is also used for making ceramics, glass and specialised optical lenses as well as renewable energy applications.

MRZ’s updated PEA will enable the pursuit of a lower-risk staged development plan with the first stage seeing it focus on mining, beneficiation and production of a high-grade flotation concentrate.

Stage two will see the company consider potential downstream development in hydrometallurgy, oxide separation and collaboration with industry partners to produce separated oxides, metals and magnets.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.