-- Technology is now patent pending
VANCOUVER, British Columbia, April 06, 2023 (GLOBE NEWSWIRE) -- Medaro Mining Corp. (CSE: MEDA) (OTC:MEDAF) (FSE:1ZY) (“Medaro” or the “Company”), a multi-faceted venture aimed at developing an innovative hard rock lithium extraction method concurrent with its lithium focused exploration in Canada, is pleased to announce the filing of two provisional patent applications (PPAs) on its proprietary spodumene processing technology (the “Technology”).
Lithium is a key component of batteries used in electric vehicles, which have become increasingly popular as the world transitions to cleaner energy sources. However, current methods of extracting lithium from the spodumene in globally widespread lithium pegmatite ore deposits are expensive and environmentally damaging.
Medaro's Technology, which has been in development for almost two years, addresses these challenges by streamlining the lithium extraction process and minimizing environmental impacts. The Technology utilizes a combination of physical and chemical steps to extract both lithium and aluminum from spodumene with high efficiency and low environmental impact. The key characteristics of the Technology are:
- it will rapidly manufacture high-purity lithium carbonate and/or lithium hydroxide monohydrate from spodumene concentrates with widely varying Li2O contents;
- it only requires three feedstock materials (spodumene concentrate, carbon dioxide, and water);
- it will be compact, modular, highly scalable, and amenable to deployment in remote geographic locations;
- it produces commercial grade aluminum hydroxide/oxide as a saleable by-product;
- it can be powered entirely by green electricity; and
- its closed-loop internal recycling design significantly reduces overall processing time and costs, producing only a trivial amount of environmental waste.
Factoring in all of the above, the Technology holds the potential to reduce overall spodumene processing costs by at least 30% to 50%.
“We are thrilled to have filed PPAs on this ground-breaking technology,” said Faizaan Lalani, Medaro’s President. “Our team has been working tirelessly to develop a solution that makes spodumene-sourced lithium extraction more sustainable, and we believe this technology is a major step in that direction.”
The Technology has already been successfully tested at the bench-scale laboratory level, and Medaro is currently finalizing plans to build its first pilot plant in the United States. The Company is also exploring partnerships with other mining companies, in various capacities, to further advance the lithium mining industry.
On Behalf of the Board of Directors
Faizaan Lalani
President & Director
Contact Information
info@medaromining.com
604-602-0001
About the Company
The Company is a lithium exploration company based in Vancouver, BC. and holds options over the Darlin, Rapide, Lac La Motte, and the CYR South lithium properties in Quebec; and Yurichson Uranium property in the Athabasca basin Saskatchewan. The Company is a party to a joint venture agreement that engages the Company in the development and commercialization of a new process to extract lithium from spodumene concentrate.
For more information, investors should review the Company’s filings that are available at www.sedar.com.
Forward-Looking Statements
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the PPAs, the features of the Technology, the potential of the Technology to reduce overall spodumene processing costs, the Technology making spodumene-sourced lithium extraction more sustainable, the finalization of plans to build Medaro’s first pilot plant in the United States, and the exploration of partnerships with other mining companies, are “forward-looking statements.” These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
