SIERRA BLANCA, TX, April 12, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Texas Mineral Resources Corp. (TMRC):
· Minerals were produced during Phase One of a $1 million DoE Grant as part of a Two-Phase $23.75 million Funding Opportunity Announcement (FOA- 0001627)
· Phase One project partners include Inventure Renewables, K-Technologies and Penn State University
· Phase One results led TMRC consortium to submit a Phase Two $20 million grant application in accordance with the February 28, 2019 deadline
· DoE Phase One award is TMRC’s second U.S. Government grant, following successful 2016 DLA demonstration
Texas Mineral Resources Corp. (TMRC), an exploration company targeting the heavy rare earths and a variety of other high-value elements and industrial minerals, is pleased to announce that a consortium assembled by Texas Mineral Resources successfully demonstrated the ability to produce multiple high-purity and separated rare earth minerals from Pennsylvania coal mining waste material. Minerals were purified to a 99.0% level, made available for Meeting participant inspection, and included scandium (Sc), dysprosium (Dy), neodymium (Nd), cerium (Ce) and lanthanum (La).
Phase One results were reported at the Department of Energy’s 2019 Annual Project Review Meeting for Crosscutting Research, Rare Earth Elements, Gasification Systems and Transformative Power Generation on April 9th, 2019 in Pittsburgh, PA. A copy of the consortium DoE presentation may be found by clicking here.
The Texas Mineral Resources consortium objective is to ultimately install a self-contained, modular and portable continuous ion exchange/continuous ion chromatography (CIX/CIC) pilot plant at a selected Pennsylvania site, and to determine the economic viability of profitably producing rare earth minerals as well as saleable industrial mineral byproducts recovered from coal waste material from Pennsylvania anthracite coal.
“We are pleased to share the accomplishments of our consortium with both the Department of Energy and our shareholders,” said Anthony Marchese, TMRC chairman. “Our consortium has applied for a Department of Energy Phase Two $20 million grant whose purpose would be to demonstrate the ability to scale up our production of material with the creation of a pilot plant. We strongly believe in the potential to profitably produce rare earth minerals as well as saleable industrial mineral byproducts from Pennsylvania anthracite coal waste. Creating value from waste is an environmental goal shared by all citizens, especially when considering the strategic nature of the minerals proposed to be produced. We are fully committed to work with local companies, capital sources and public officials in order to create potentially meaningful economic opportunity for an industry and region that for too long has been in a period of decline. DoE Secretary Rick Perry, who visited the consortium’s Pennsylvania project site in September 2017, has committed to aiding the coal industry and at TMRC we are doing our part in an effort which potentially creates a win-win for shareholders, the region and the United States.”
TMRC’s Second Successful U.S. Government Grant
This is the second U.S. Government award relating to the production of rare earth minerals in which Texas Mineral Resources has recently participated. In September 2015, the U.S. Department of Defense, through the Defense Logistics Agency (DLA), awarded the Company a Broad Agency Announcement (BAA) research contract. In July 2016 TMRC announced it had successfully completed a demonstration-of-concept project to separate and refine specific high-purity rare earth elements for the United States Defense Logistics Agency (DLA) Strategic Materials Division in conjunction with its joint venture partner K-Technologies, Inc. (K-Tech). In the bench scale demonstration, Texas Mineral Resources Corp. and K-Tech successfully separated specified high-value rare earths to between 99.996 and 99.999% purity, using static column systems designed to provide the general design concepts for ultimate use of continuous ion exchange (CIX) and continuous ion chromatography (CIC) systems at larger scales.
About Texas Mineral Resources Corp.
Texas Mineral Resources Corp.'s focus is exploring and, if warranted, developing its Round Top heavy rare earth and industrial minerals project located in Hudspeth County, Texas, 85 miles east of El Paso. Additionally, the Company plans on developing alternative sources of strategic minerals through the processing of coal waste and other related materials. The Company’s common stock trades on the OTCQB U.S. tier under the symbol “TMRC.”
Texas Mineral Resources Corp.
Anthony Marchese, Chairman