Updated Preliminary Economic Analysis Confirms Ashram as a Major Long-Life North American Rare Earths Development Project
Original announcement by tmx on
- Company
- Mont Royal Resources Limited
- Ticker
- MRZL
- Exchange
- TSX
- Region
- Québec, Canada
- Primary commodity
- Rare earths
- Secondary commodities
- Fluorspar, Niobium, Tantalum, Phosphate, Neodymium, Praseodymium, Dysprosium, Terbium, Yttrium
- Document categories
- Resource update, Economic study, Metallurgy
- Extracted
- 2026-09-18 10:49:41 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Reasoning: The updated PEA confirms strong economic viability for the Ashram Rare Earths Project, highlighting its potential as a long-life, low-cost North American rare earths supplier, despite the inherent uncertainties of a Class 5 study and pending financing and permitting.
Positive factors
- Robust economics (NPV, IRR, payback)
- Long mine life (30 years)
- Competitive cost position (low C1 and AISC)
- Strategic importance of rare earths for Western supply chains
- High proportion of Indicated resources in early mine life (93%)
- Updated Mineral Resource Estimate (MRE) and PEA incorporating optimizations
- Clear pathway to Pre-Feasibility Study (PFS)
Negative factors
- Preliminary Economic Assessment (PEA) level study (AACE Class 5) with high uncertainty (±50% accuracy)
- 7% Inferred resources in the mill feed
- Significant initial capital funding (CAD$1.23B) not yet secured
- Permitting for mine and infrastructure still in progress
- Access road costs converted to OPEX, potentially understating capital intensity
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 55
Classification and evidence
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: A current resource fact retains the disclosed cut-off grade
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: the document describes a mill_cil route ("concentrator")
Extracted facts
Stored fact records: 54. Some facts used in scoring do not have a stored record.
Resource Estimates (38)
indicatedAshram · rare_earthsTonnes: 73200000Grade: 1.89Grade Unit: %View all detailsHide details
Identity
- Project
- Ashram
- Commodity
- rare_earths
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Resource scope
- Estimate type
- resource
- Effective date
- 2025-10-01T00:00:00.000Z
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pierre-Luc Richard
- Resource group id
- resource:c11ed063a33b0f41354a
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 73200000
- Grade
- 1.89
- Grade Unit
- %
- Cutoff Grade
- 287
- Cutoff Unit
- CAD$/t NMR
Prior Estimate
- Resource Date
- 2025-10-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The indicated resource for Total TREO is substantial and reported under high-confidence standards, contributing positively to project viability.
Positive factors
- Large indicated resource tonnage
- Good TREO grade
- Compliant with JORC and NI 43-101 standards
- QP signed off on the estimate
Evidence · table
“1.89”
Context: 73.2
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The resource estimate includes 73.2 Mt of Indicated Resources.
Evidence · table
“Indicated”
Context: Tonnes
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: The MRE was prepared by a Competent Person in accordance with the JORC Code.
Evidence · text
“prepared by a Competent Person in accordance with the requirements of the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves ( JORC Code )”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The MRE is stated to be NI 43-101 compliant.
Evidence · text
“NI 43-101 compliant Mineral Resource Estimates”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: Pierre-Luc Richard is listed as a Qualified Person for the Mineral Resource Estimate.
Evidence · table
“Pierre-Luc Richard, P.Geo, M.Sc. PLR Resources Inc. (PLR) Geology and Mineral Resource Estimate”
Context: Name
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredAshram · rare_earthsTonnes: 131100000Grade: 1.91Grade Unit: %View all detailsHide details
Identity
- Project
- Ashram
- Commodity
- rare_earths
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Resource scope
- Estimate type
- resource
- Effective date
- 2025-10-01T00:00:00.000Z
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pierre-Luc Richard
- Resource group id
- resource:738304ff658a3a9b9776
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 131100000
- Grade
- 1.91
- Grade Unit
- %
- Cutoff Grade
- 287
- Cutoff Unit
- CAD$/t NMR
Prior Estimate
- Resource Date
- 2025-10-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The inferred resource for Total TREO is substantial and reported under high-confidence standards, but its lower confidence category means it cannot fully support economic studies without further drilling.
Positive factors
- Large inferred resource tonnage
- Good TREO grade, similar to indicated
- Compliant with JORC and NI 43-101 standards
- QP signed off on the estimate
Negative factors
- Inferred category has lower geological confidence
Evidence · table
“1.91”
Context: 131.1
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource estimate includes 131.1 Mt of Inferred Resources.
Evidence · table
“Inferred”
Context: Tonnes
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: The MRE was prepared by a Competent Person in accordance with the JORC Code.
Evidence · text
“prepared by a Competent Person in accordance with the requirements of the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves ( JORC Code )”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The MRE is stated to be NI 43-101 compliant.
Evidence · text
“NI 43-101 compliant Mineral Resource Estimates”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: Pierre-Luc Richard is listed as a Qualified Person for the Mineral Resource Estimate.
Evidence · table
“Pierre-Luc Richard, P.Geo, M.Sc. PLR Resources Inc. (PLR) Geology and Mineral Resource Estimate”
Context: Name
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedAshram · rare_earthsGrade: 21.2Grade Unit: %View all detailsHide details
Identity
- Project
- Ashram
- Commodity
- rare_earths
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Resource scope
- Estimate type
- resource
- Effective date
- 2025-10-01T00:00:00.000Z
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pierre-Luc Richard
- Resource group id
- resource:92e79d5ed5a66bbd7d7a
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Grade
- 21.2
- Grade Unit
- %
- Cutoff Grade
- 287
- Cutoff Unit
- CAD$/t NMR
Prior Estimate
- Resource Date
- 2025-10-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The indicated resource shows a high percentage of valuable Nd+Pr Oxide within the total TREO, which is a key economic driver for rare earth projects.
Positive factors
- High proportion of Nd+Pr Oxide within TREO, indicating valuable magnet rare earths
- Compliant with JORC and NI 43-101 standards
- QP signed off on the estimate
Evidence · table
“21.2”
Context: Nd+Pr Oxide/TREO
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredAshram · rare_earthsGrade: 21.4Grade Unit: %View all detailsHide details
Identity
- Project
- Ashram
- Commodity
- rare_earths
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Resource scope
- Estimate type
- resource
- Effective date
- 2025-10-01T00:00:00.000Z
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pierre-Luc Richard
- Resource group id
- resource:342601b8e49b3ba62ab0
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Grade
- 21.4
- Grade Unit
- %
- Cutoff Grade
- 287
- Cutoff Unit
- CAD$/t NMR
Prior Estimate
- Resource Date
- 2025-10-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The inferred resource shows a high percentage of valuable Nd+Pr Oxide within the total TREO, which is a key economic driver for rare earth projects, though with lower confidence due to its category.
Positive factors
- High proportion of Nd+Pr Oxide within TREO, indicating valuable magnet rare earths
- Compliant with JORC and NI 43-101 standards
- QP signed off on the estimate
Negative factors
- Inferred category has lower geological confidence
Evidence · table
“21.4”
Context: Nd+Pr Oxide/TREO
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedAshram · rare_earthsGrade: 0.7Grade Unit: %View all detailsHide details
Identity
- Project
- Ashram
- Commodity
- rare_earths
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Resource scope
- Estimate type
- resource
- Effective date
- 2025-10-01T00:00:00.000Z
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pierre-Luc Richard
- Resource group id
- resource:92e79d5ed5a66bbd7d7a
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Grade
- 0.7
- Grade Unit
- %
- Cutoff Grade
- 287
- Cutoff Unit
- CAD$/t NMR
Prior Estimate
- Resource Date
- 2025-10-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The indicated resource includes a meaningful contribution from critical heavy rare earths Dy+Tb Oxide, adding to the project's value proposition.
Positive factors
- Presence of critical heavy rare earths Dy+Tb Oxide within TREO
- Compliant with JORC and NI 43-101 standards
- QP signed off on the estimate
Evidence · table
“0.7”
Context: Dy+Tb Oxide/TREO
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredAshram · rare_earthsGrade: 0.5Grade Unit: %View all detailsHide details
Identity
- Project
- Ashram
- Commodity
- rare_earths
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Resource scope
- Estimate type
- resource
- Effective date
- 2025-10-01T00:00:00.000Z
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pierre-Luc Richard
- Resource group id
- resource:342601b8e49b3ba62ab0
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Grade
- 0.5
- Grade Unit
- %
- Cutoff Grade
- 287
- Cutoff Unit
- CAD$/t NMR
Prior Estimate
- Resource Date
- 2025-10-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The inferred resource includes a contribution from critical heavy rare earths Dy+Tb Oxide, adding to the project's value proposition, though with lower confidence due to its category.
Positive factors
- Presence of critical heavy rare earths Dy+Tb Oxide within TREO
- Compliant with JORC and NI 43-101 standards
- QP signed off on the estimate
Negative factors
- Inferred category has lower geological confidence
Evidence · table
“0.5”
Context: Dy+Tb Oxide/TREO
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedAshram · lanthanumGrade: 4829Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ashram
- Commodity
- lanthanum
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Resource scope
- Estimate type
- resource
- Effective date
- 2025-10-01T00:00:00.000Z
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pierre-Luc Richard
- Resource group id
- resource:92e79d5ed5a66bbd7d7a
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Grade
- 4829
- Grade Unit
- ppm
- Cutoff Grade
- 287
- Cutoff Unit
- CAD$/t NMR
Prior Estimate
- Resource Date
- 2025-10-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The indicated resource provides a specific grade for Lanthanum Oxide, contributing to the overall rare earth basket characterization.
Positive factors
- Explicitly reported grade for Lanthanum Oxide
- Compliant with JORC and NI 43-101 standards
- QP signed off on the estimate
Evidence · table
“4,829”
Context: La 2 O 3
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredAshram · lanthanumGrade: 4969Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ashram
- Commodity
- lanthanum
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Resource scope
- Estimate type
- resource
- Effective date
- 2025-10-01T00:00:00.000Z
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pierre-Luc Richard
- Resource group id
- resource:342601b8e49b3ba62ab0
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Grade
- 4969
- Grade Unit
- ppm
- Cutoff Grade
- 287
- Cutoff Unit
- CAD$/t NMR
Prior Estimate
- Resource Date
- 2025-10-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The inferred resource provides a specific grade for Lanthanum Oxide, contributing to the overall rare earth basket characterization, though with lower confidence due to its category.
Positive factors
- Explicitly reported grade for Lanthanum Oxide
- Compliant with JORC and NI 43-101 standards
- QP signed off on the estimate
Negative factors
- Inferred category has lower geological confidence
Evidence · table
“4,969”
Context: La 2 O 3
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedAshram · ceriumGrade: 8753Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ashram
- Commodity
- cerium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Resource scope
- Estimate type
- resource
- Effective date
- 2025-10-01T00:00:00.000Z
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pierre-Luc Richard
- Resource group id
- resource:92e79d5ed5a66bbd7d7a
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Grade
- 8753
- Grade Unit
- ppm
- Cutoff Grade
- 287
- Cutoff Unit
- CAD$/t NMR
Prior Estimate
- Resource Date
- 2025-10-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The indicated resource provides a specific grade for Cerium Oxide, contributing to the overall rare earth basket characterization.
Positive factors
- Explicitly reported grade for Cerium Oxide
- Compliant with JORC and NI 43-101 standards
- QP signed off on the estimate
Evidence · table
“8,753”
Context: Ce 2 O 3
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredAshram · ceriumGrade: 8933Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ashram
- Commodity
- cerium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Resource scope
- Estimate type
- resource
- Effective date
- 2025-10-01T00:00:00.000Z
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pierre-Luc Richard
- Resource group id
- resource:342601b8e49b3ba62ab0
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Grade
- 8933
- Grade Unit
- ppm
- Cutoff Grade
- 287
- Cutoff Unit
- CAD$/t NMR
Prior Estimate
- Resource Date
- 2025-10-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The inferred resource provides a specific grade for Cerium Oxide, contributing to the overall rare earth basket characterization, though with lower confidence due to its category.
Positive factors
- Explicitly reported grade for Cerium Oxide
- Compliant with JORC and NI 43-101 standards
- QP signed off on the estimate
Negative factors
- Inferred category has lower geological confidence
Evidence · table
“8,933”
Context: Ce 2 O 3
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedAshram · praseodymiumGrade: 907Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ashram
- Commodity
- praseodymium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Resource scope
- Estimate type
- resource
- Effective date
- 2025-10-01T00:00:00.000Z
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pierre-Luc Richard
- Resource group id
- resource:92e79d5ed5a66bbd7d7a
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Grade
- 907
- Grade Unit
- ppm
- Cutoff Grade
- 287
- Cutoff Unit
- CAD$/t NMR
Prior Estimate
- Resource Date
- 2025-10-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The indicated resource provides a specific grade for Praseodymium Oxide, a key component of the valuable magnet rare earth basket.
Positive factors
- Explicitly reported grade for Praseodymium Oxide, a valuable magnet rare earth
- Compliant with JORC and NI 43-101 standards
- QP signed off on the estimate
Evidence · table
“907”
Context: Pr 2 O 3
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredAshram · praseodymiumGrade: 927Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ashram
- Commodity
- praseodymium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Resource scope
- Estimate type
- resource
- Effective date
- 2025-10-01T00:00:00.000Z
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pierre-Luc Richard
- Resource group id
- resource:342601b8e49b3ba62ab0
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Grade
- 927
- Grade Unit
- ppm
- Cutoff Grade
- 287
- Cutoff Unit
- CAD$/t NMR
Prior Estimate
- Resource Date
- 2025-10-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The inferred resource provides a specific grade for Praseodymium Oxide, a key component of the valuable magnet rare earth basket, though with lower confidence due to its category.
Positive factors
- Explicitly reported grade for Praseodymium Oxide, a valuable magnet rare earth
- Compliant with JORC and NI 43-101 standards
- QP signed off on the estimate
Negative factors
- Inferred category has lower geological confidence
Evidence · table
“927”
Context: Pr 2 O 3
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedAshram · neodymiumGrade: 3112Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ashram
- Commodity
- neodymium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Resource scope
- Estimate type
- resource
- Effective date
- 2025-10-01T00:00:00.000Z
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pierre-Luc Richard
- Resource group id
- resource:92e79d5ed5a66bbd7d7a
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Grade
- 3112
- Grade Unit
- ppm
- Cutoff Grade
- 287
- Cutoff Unit
- CAD$/t NMR
Prior Estimate
- Resource Date
- 2025-10-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The indicated resource provides a specific grade for Neodymium Oxide, a highly valuable component of the magnet rare earth basket, significantly contributing to project economics.
Positive factors
- Explicitly reported grade for Neodymium Oxide, a highly valuable magnet rare earth
- Compliant with JORC and NI 43-101 standards
- QP signed off on the estimate
Evidence · table
“3,112”
Context: Nd 2 O 3
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredAshram · neodymiumGrade: 3162Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ashram
- Commodity
- neodymium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Resource scope
- Estimate type
- resource
- Effective date
- 2025-10-01T00:00:00.000Z
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pierre-Luc Richard
- Resource group id
- resource:342601b8e49b3ba62ab0
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Grade
- 3162
- Grade Unit
- ppm
- Cutoff Grade
- 287
- Cutoff Unit
- CAD$/t NMR
Prior Estimate
- Resource Date
- 2025-10-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The inferred resource provides a specific grade for Neodymium Oxide, a highly valuable component of the magnet rare earth basket, though with lower confidence due to its category.
Positive factors
- Explicitly reported grade for Neodymium Oxide, a highly valuable magnet rare earth
- Compliant with JORC and NI 43-101 standards
- QP signed off on the estimate
Negative factors
- Inferred category has lower geological confidence
Evidence · table
“3,162”
Context: Nd 2 O 3
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedAshram · samariumGrade: 412Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ashram
- Commodity
- samarium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Resource scope
- Estimate type
- resource
- Effective date
- 2025-10-01T00:00:00.000Z
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pierre-Luc Richard
- Resource group id
- resource:92e79d5ed5a66bbd7d7a
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Grade
- 412
- Grade Unit
- ppm
- Cutoff Grade
- 287
- Cutoff Unit
- CAD$/t NMR
Prior Estimate
- Resource Date
- 2025-10-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The indicated resource provides a specific grade for Samarium Oxide, contributing to the overall rare earth basket characterization.
Positive factors
- Explicitly reported grade for Samarium Oxide
- Compliant with JORC and NI 43-101 standards
- QP signed off on the estimate
Evidence · table
“412”
Context: Sm 2 O 3
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredAshram · samariumGrade: 385Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ashram
- Commodity
- samarium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Resource scope
- Estimate type
- resource
- Effective date
- 2025-10-01T00:00:00.000Z
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pierre-Luc Richard
- Resource group id
- resource:342601b8e49b3ba62ab0
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Grade
- 385
- Grade Unit
- ppm
- Cutoff Grade
- 287
- Cutoff Unit
- CAD$/t NMR
Prior Estimate
- Resource Date
- 2025-10-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The inferred resource provides a specific grade for Samarium Oxide, contributing to the overall rare earth basket characterization, though with lower confidence due to its category.
Positive factors
- Explicitly reported grade for Samarium Oxide
- Compliant with JORC and NI 43-101 standards
- QP signed off on the estimate
Negative factors
- Inferred category has lower geological confidence
Evidence · table
“385”
Context: Sm 2 O 3
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedAshram · europiumGrade: 98Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ashram
- Commodity
- europium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Resource scope
- Estimate type
- resource
- Effective date
- 2025-10-01T00:00:00.000Z
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pierre-Luc Richard
- Resource group id
- resource:92e79d5ed5a66bbd7d7a
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Grade
- 98
- Grade Unit
- ppm
- Cutoff Grade
- 287
- Cutoff Unit
- CAD$/t NMR
Prior Estimate
- Resource Date
- 2025-10-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The indicated resource provides a specific grade for Europium Oxide, contributing to the overall rare earth basket characterization.
Positive factors
- Explicitly reported grade for Europium Oxide
- Compliant with JORC and NI 43-101 standards
- QP signed off on the estimate
Evidence · table
“98”
Context: Eu 2 O 3
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredAshram · europiumGrade: 87Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ashram
- Commodity
- europium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Resource scope
- Estimate type
- resource
- Effective date
- 2025-10-01T00:00:00.000Z
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pierre-Luc Richard
- Resource group id
- resource:342601b8e49b3ba62ab0
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Grade
- 87
- Grade Unit
- ppm
- Cutoff Grade
- 287
- Cutoff Unit
- CAD$/t NMR
Prior Estimate
- Resource Date
- 2025-10-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The inferred resource provides a specific grade for Europium Oxide, contributing to the overall rare earth basket characterization, though with lower confidence due to its category.
Positive factors
- Explicitly reported grade for Europium Oxide
- Compliant with JORC and NI 43-101 standards
- QP signed off on the estimate
Negative factors
- Inferred category has lower geological confidence
Evidence · table
“87”
Context: Eu 2 O 3
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedAshram · gadoliniumGrade: 223Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ashram
- Commodity
- gadolinium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Resource scope
- Estimate type
- resource
- Effective date
- 2025-10-01T00:00:00.000Z
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pierre-Luc Richard
- Resource group id
- resource:92e79d5ed5a66bbd7d7a
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Grade
- 223
- Grade Unit
- ppm
- Cutoff Grade
- 287
- Cutoff Unit
- CAD$/t NMR
Prior Estimate
- Resource Date
- 2025-10-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The indicated resource provides a specific grade for Gadolinium Oxide, contributing to the overall rare earth basket characterization.
Positive factors
- Explicitly reported grade for Gadolinium Oxide
- Compliant with JORC and NI 43-101 standards
- QP signed off on the estimate
Evidence · table
“223”
Context: Gd 2 O 3
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredAshram · gadoliniumGrade: 195Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ashram
- Commodity
- gadolinium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Resource scope
- Estimate type
- resource
- Effective date
- 2025-10-01T00:00:00.000Z
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pierre-Luc Richard
- Resource group id
- resource:342601b8e49b3ba62ab0
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Grade
- 195
- Grade Unit
- ppm
- Cutoff Grade
- 287
- Cutoff Unit
- CAD$/t NMR
Prior Estimate
- Resource Date
- 2025-10-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The inferred resource provides a specific grade for Gadolinium Oxide, contributing to the overall rare earth basket characterization, though with lower confidence due to its category.
Positive factors
- Explicitly reported grade for Gadolinium Oxide
- Compliant with JORC and NI 43-101 standards
- QP signed off on the estimate
Negative factors
- Inferred category has lower geological confidence
Evidence · table
“195”
Context: Gd 2 O 3
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedAshram · terbiumGrade: 24Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ashram
- Commodity
- terbium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Resource scope
- Estimate type
- resource
- Effective date
- 2025-10-01T00:00:00.000Z
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pierre-Luc Richard
- Resource group id
- resource:92e79d5ed5a66bbd7d7a
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Grade
- 24
- Grade Unit
- ppm
- Cutoff Grade
- 287
- Cutoff Unit
- CAD$/t NMR
Prior Estimate
- Resource Date
- 2025-10-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The indicated resource provides a specific grade for Terbium Oxide, a critical heavy rare earth, adding to the project's strategic value.
Positive factors
- Explicitly reported grade for Terbium Oxide, a critical heavy rare earth
- Compliant with JORC and NI 43-101 standards
- QP signed off on the estimate
Evidence · table
“24”
Context: Tb 2 O 3
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredAshram · terbiumGrade: 19Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ashram
- Commodity
- terbium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Resource scope
- Estimate type
- resource
- Effective date
- 2025-10-01T00:00:00.000Z
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pierre-Luc Richard
- Resource group id
- resource:342601b8e49b3ba62ab0
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Grade
- 19
- Grade Unit
- ppm
- Cutoff Grade
- 287
- Cutoff Unit
- CAD$/t NMR
Prior Estimate
- Resource Date
- 2025-10-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The inferred resource provides a specific grade for Terbium Oxide, a critical heavy rare earth, adding to the project's strategic value, though with lower confidence due to its category.
Positive factors
- Explicitly reported grade for Terbium Oxide, a critical heavy rare earth
- Compliant with JORC and NI 43-101 standards
- QP signed off on the estimate
Negative factors
- Inferred category has lower geological confidence
Evidence · table
“19”
Context: Tb 2 O 3
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedAshram · dysprosiumGrade: 102Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ashram
- Commodity
- dysprosium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Resource scope
- Estimate type
- resource
- Effective date
- 2025-10-01T00:00:00.000Z
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pierre-Luc Richard
- Resource group id
- resource:92e79d5ed5a66bbd7d7a
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Grade
- 102
- Grade Unit
- ppm
- Cutoff Grade
- 287
- Cutoff Unit
- CAD$/t NMR
Prior Estimate
- Resource Date
- 2025-10-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The indicated resource provides a specific grade for Dysprosium Oxide, a critical heavy rare earth, adding to the project's strategic value.
Positive factors
- Explicitly reported grade for Dysprosium Oxide, a critical heavy rare earth
- Compliant with JORC and NI 43-101 standards
- QP signed off on the estimate
Evidence · table
“102”
Context: Dy 2 O 3
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredAshram · dysprosiumGrade: 73Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ashram
- Commodity
- dysprosium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Resource scope
- Estimate type
- resource
- Effective date
- 2025-10-01T00:00:00.000Z
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pierre-Luc Richard
- Resource group id
- resource:342601b8e49b3ba62ab0
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Grade
- 73
- Grade Unit
- ppm
- Cutoff Grade
- 287
- Cutoff Unit
- CAD$/t NMR
Prior Estimate
- Resource Date
- 2025-10-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The inferred resource provides a specific grade for Dysprosium Oxide, a critical heavy rare earth, adding to the project's strategic value, though with lower confidence due to its category.
Positive factors
- Explicitly reported grade for Dysprosium Oxide, a critical heavy rare earth
- Compliant with JORC and NI 43-101 standards
- QP signed off on the estimate
Negative factors
- Inferred category has lower geological confidence
Evidence · table
“73”
Context: Dy 2 O 3
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedAshram · holmiumGrade: 14Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ashram
- Commodity
- holmium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Resource scope
- Estimate type
- resource
- Effective date
- 2025-10-01T00:00:00.000Z
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pierre-Luc Richard
- Resource group id
- resource:92e79d5ed5a66bbd7d7a
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Grade
- 14
- Grade Unit
- ppm
- Cutoff Grade
- 287
- Cutoff Unit
- CAD$/t NMR
Prior Estimate
- Resource Date
- 2025-10-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The indicated resource provides a specific grade for Holmium Oxide, contributing to the overall rare earth basket characterization.
Positive factors
- Explicitly reported grade for Holmium Oxide
- Compliant with JORC and NI 43-101 standards
- QP signed off on the estimate
Evidence · table
“14”
Context: Ho 2 O 3
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredAshram · holmiumGrade: 10Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ashram
- Commodity
- holmium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Resource scope
- Estimate type
- resource
- Effective date
- 2025-10-01T00:00:00.000Z
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pierre-Luc Richard
- Resource group id
- resource:342601b8e49b3ba62ab0
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Grade
- 10
- Grade Unit
- ppm
- Cutoff Grade
- 287
- Cutoff Unit
- CAD$/t NMR
Prior Estimate
- Resource Date
- 2025-10-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The inferred resource provides a specific grade for Holmium Oxide, contributing to the overall rare earth basket characterization, though with lower confidence due to its category.
Positive factors
- Explicitly reported grade for Holmium Oxide
- Compliant with JORC and NI 43-101 standards
- QP signed off on the estimate
Negative factors
- Inferred category has lower geological confidence
Evidence · table
“10”
Context: Ho 2 O 3
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedAshram · erbiumGrade: 31Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ashram
- Commodity
- erbium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Resource scope
- Estimate type
- resource
- Effective date
- 2025-10-01T00:00:00.000Z
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pierre-Luc Richard
- Resource group id
- resource:92e79d5ed5a66bbd7d7a
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Grade
- 31
- Grade Unit
- ppm
- Cutoff Grade
- 287
- Cutoff Unit
- CAD$/t NMR
Prior Estimate
- Resource Date
- 2025-10-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The indicated resource provides a specific grade for Erbium Oxide, contributing to the overall rare earth basket characterization.
Positive factors
- Explicitly reported grade for Erbium Oxide
- Compliant with JORC and NI 43-101 standards
- QP signed off on the estimate
Evidence · table
“31”
Context: Er 2 O 3
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredAshram · erbiumGrade: 21Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ashram
- Commodity
- erbium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Resource scope
- Estimate type
- resource
- Effective date
- 2025-10-01T00:00:00.000Z
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pierre-Luc Richard
- Resource group id
- resource:342601b8e49b3ba62ab0
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Grade
- 21
- Grade Unit
- ppm
- Cutoff Grade
- 287
- Cutoff Unit
- CAD$/t NMR
Prior Estimate
- Resource Date
- 2025-10-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The inferred resource provides a specific grade for Erbium Oxide, contributing to the overall rare earth basket characterization, though with lower confidence due to its category.
Positive factors
- Explicitly reported grade for Erbium Oxide
- Compliant with JORC and NI 43-101 standards
- QP signed off on the estimate
Negative factors
- Inferred category has lower geological confidence
Evidence · table
“21”
Context: Er 2 O 3
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedAshram · thuliumGrade: 3Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ashram
- Commodity
- thulium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Resource scope
- Estimate type
- resource
- Effective date
- 2025-10-01T00:00:00.000Z
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pierre-Luc Richard
- Resource group id
- resource:92e79d5ed5a66bbd7d7a
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Grade
- 3
- Grade Unit
- ppm
- Cutoff Grade
- 287
- Cutoff Unit
- CAD$/t NMR
Prior Estimate
- Resource Date
- 2025-10-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The indicated resource provides a specific grade for Thulium Oxide, contributing to the overall rare earth basket characterization.
Positive factors
- Explicitly reported grade for Thulium Oxide
- Compliant with JORC and NI 43-101 standards
- QP signed off on the estimate
Evidence · table
“3”
Context: Tm 2 O 3
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredAshram · thuliumGrade: 2Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ashram
- Commodity
- thulium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Resource scope
- Estimate type
- resource
- Effective date
- 2025-10-01T00:00:00.000Z
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pierre-Luc Richard
- Resource group id
- resource:342601b8e49b3ba62ab0
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Grade
- 2
- Grade Unit
- ppm
- Cutoff Grade
- 287
- Cutoff Unit
- CAD$/t NMR
Prior Estimate
- Resource Date
- 2025-10-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The inferred resource provides a specific grade for Thulium Oxide, contributing to the overall rare earth basket characterization, though with lower confidence due to its category.
Positive factors
- Explicitly reported grade for Thulium Oxide
- Compliant with JORC and NI 43-101 standards
- QP signed off on the estimate
Negative factors
- Inferred category has lower geological confidence
Evidence · table
“2”
Context: Tm 2 O 3
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedAshram · ytterbiumGrade: 18Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ashram
- Commodity
- ytterbium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Resource scope
- Estimate type
- resource
- Effective date
- 2025-10-01T00:00:00.000Z
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pierre-Luc Richard
- Resource group id
- resource:92e79d5ed5a66bbd7d7a
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Grade
- 18
- Grade Unit
- ppm
- Cutoff Grade
- 287
- Cutoff Unit
- CAD$/t NMR
Prior Estimate
- Resource Date
- 2025-10-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The indicated resource provides a specific grade for Ytterbium Oxide, contributing to the overall rare earth basket characterization.
Positive factors
- Explicitly reported grade for Ytterbium Oxide
- Compliant with JORC and NI 43-101 standards
- QP signed off on the estimate
Evidence · table
“18”
Context: Yb 2 O 3
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredAshram · ytterbiumGrade: 13Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ashram
- Commodity
- ytterbium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Resource scope
- Estimate type
- resource
- Effective date
- 2025-10-01T00:00:00.000Z
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pierre-Luc Richard
- Resource group id
- resource:342601b8e49b3ba62ab0
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Grade
- 13
- Grade Unit
- ppm
- Cutoff Grade
- 287
- Cutoff Unit
- CAD$/t NMR
Prior Estimate
- Resource Date
- 2025-10-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The inferred resource provides a specific grade for Ytterbium Oxide, contributing to the overall rare earth basket characterization, though with lower confidence due to its category.
Positive factors
- Explicitly reported grade for Ytterbium Oxide
- Compliant with JORC and NI 43-101 standards
- QP signed off on the estimate
Negative factors
- Inferred category has lower geological confidence
Evidence · table
“13”
Context: Yb 2 O 3
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedAshram · lutetiumGrade: 2Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ashram
- Commodity
- lutetium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Resource scope
- Estimate type
- resource
- Effective date
- 2025-10-01T00:00:00.000Z
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pierre-Luc Richard
- Resource group id
- resource:92e79d5ed5a66bbd7d7a
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Grade
- 2
- Grade Unit
- ppm
- Cutoff Grade
- 287
- Cutoff Unit
- CAD$/t NMR
Prior Estimate
- Resource Date
- 2025-10-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The indicated resource provides a specific grade for Lutetium Oxide, contributing to the overall rare earth basket characterization.
Positive factors
- Explicitly reported grade for Lutetium Oxide
- Compliant with JORC and NI 43-101 standards
- QP signed off on the estimate
Evidence · table
“2”
Context: Lu 2 O 3
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredAshram · lutetiumGrade: 2Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ashram
- Commodity
- lutetium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Resource scope
- Estimate type
- resource
- Effective date
- 2025-10-01T00:00:00.000Z
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pierre-Luc Richard
- Resource group id
- resource:342601b8e49b3ba62ab0
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Grade
- 2
- Grade Unit
- ppm
- Cutoff Grade
- 287
- Cutoff Unit
- CAD$/t NMR
Prior Estimate
- Resource Date
- 2025-10-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The inferred resource provides a specific grade for Lutetium Oxide, contributing to the overall rare earth basket characterization, though with lower confidence due to its category.
Positive factors
- Explicitly reported grade for Lutetium Oxide
- Compliant with JORC and NI 43-101 standards
- QP signed off on the estimate
Negative factors
- Inferred category has lower geological confidence
Evidence · table
“2”
Context: Lu 2 O 3
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedAshram · yttriumGrade: 419Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ashram
- Commodity
- yttrium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Resource scope
- Estimate type
- resource
- Effective date
- 2025-10-01T00:00:00.000Z
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pierre-Luc Richard
- Resource group id
- resource:92e79d5ed5a66bbd7d7a
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Grade
- 419
- Grade Unit
- ppm
- Cutoff Grade
- 287
- Cutoff Unit
- CAD$/t NMR
Prior Estimate
- Resource Date
- 2025-10-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The indicated resource provides a specific grade for Yttrium Oxide, contributing to the overall rare earth basket characterization.
Positive factors
- Explicitly reported grade for Yttrium Oxide
- Compliant with JORC and NI 43-101 standards
- QP signed off on the estimate
Evidence · table
“419”
Context: Y 2 O 3
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredAshram · yttriumGrade: 280Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ashram
- Commodity
- yttrium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Resource scope
- Estimate type
- resource
- Effective date
- 2025-10-01T00:00:00.000Z
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pierre-Luc Richard
- Resource group id
- resource:342601b8e49b3ba62ab0
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Grade
- 280
- Grade Unit
- ppm
- Cutoff Grade
- 287
- Cutoff Unit
- CAD$/t NMR
Prior Estimate
- Resource Date
- 2025-10-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The inferred resource provides a specific grade for Yttrium Oxide, contributing to the overall rare earth basket characterization, though with lower confidence due to its category.
Positive factors
- Explicitly reported grade for Yttrium Oxide
- Compliant with JORC and NI 43-101 standards
- QP signed off on the estimate
Negative factors
- Inferred category has lower geological confidence
Evidence · table
“280”
Context: Y 2 O 3
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedAshram · fluorsparGrade: 6.6Grade Unit: %View all detailsHide details
Identity
- Project
- Ashram
- Commodity
- fluorspar
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Resource scope
- Estimate type
- resource
- Effective date
- 2025-10-01T00:00:00.000Z
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pierre-Luc Richard
- Resource group id
- resource:92e79d5ed5a66bbd7d7a
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Grade
- 6.6
- Grade Unit
- %
- Cutoff Grade
- 287
- Cutoff Unit
- CAD$/t NMR
Prior Estimate
- Resource Date
- 2025-10-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The indicated resource includes a significant grade for Fluorspar, which could provide additional value upside for the project.
Positive factors
- Explicitly reported grade for Fluorspar, indicating potential by-product value
- Compliant with JORC and NI 43-101 standards
- QP signed off on the estimate
Evidence · table
“6.6”
Context: Fluorspar (CaF 2 )
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredAshram · fluorsparGrade: 4Grade Unit: %View all detailsHide details
Identity
- Project
- Ashram
- Commodity
- fluorspar
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Resource scope
- Estimate type
- resource
- Effective date
- 2025-10-01T00:00:00.000Z
- Reporting standards
- jorc, ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pierre-Luc Richard
- Resource group id
- resource:342601b8e49b3ba62ab0
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Grade
- 4
- Grade Unit
- %
- Cutoff Grade
- 287
- Cutoff Unit
- CAD$/t NMR
Prior Estimate
- Resource Date
- 2025-10-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The inferred resource includes a significant grade for Fluorspar, which could provide additional value upside for the project, though with lower confidence due to its category.
Positive factors
- Explicitly reported grade for Fluorspar, indicating potential by-product value
- Compliant with JORC and NI 43-101 standards
- QP signed off on the estimate
Negative factors
- Inferred category has lower geological confidence
Evidence · table
“4.0”
Context: Fluorspar (CaF 2 )
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
Metallurgical Results (16)
hydrometallurgyAshram · scandiumRecovery: 72 %View all detailsHide details
Identity
- Project
- Ashram
- Commodity
- scandium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Test Work
- Program Status
- scoping
- Test Type
- hydrometallurgy
- Processing Route
- acid bake, water leach, solvent extraction, oxalate precipitation and metathesis
Recovery
- Recovery
- 72 %
- Recovery Basis
- actual_test
- Conc. Grade
- 30
- Conc. Grade Unit
- % REO
Lab
- Laboratory
- UVR-FIA GmbH, Université Laval, Canmet MINING, Hazen Research Inc., SGS Canada, L3 Process Development
- Consultant
- L3 Process Development
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The reported hydrometallurgical recovery for Scandium is a positive indicator, though the scoping-level nature of the test work suggests further optimization is needed.
Positive factors
- Explicitly reported recovery for Scandium
- Hydrometallurgical processing route identified
Negative factors
- Scoping level test work implies higher uncertainty
Evidence · table
“72%”
Context: Sc
Tags used in scoring
Byproduct Commodityneutral
The tested commodity is a byproduct rather than the primary economic driver.
Why it applies: the release describes a byproduct credit
hydrometallurgyAshram · yttriumRecovery: 78 %View all detailsHide details
Identity
- Project
- Ashram
- Commodity
- yttrium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Test Work
- Program Status
- scoping
- Test Type
- hydrometallurgy
- Processing Route
- acid bake, water leach, solvent extraction, oxalate precipitation and metathesis
Recovery
- Recovery
- 78 %
- Recovery Basis
- actual_test
- Conc. Grade
- 30
- Conc. Grade Unit
- % REO
Lab
- Laboratory
- UVR-FIA GmbH, Université Laval, Canmet MINING, Hazen Research Inc., SGS Canada, L3 Process Development
- Consultant
- L3 Process Development
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The reported hydrometallurgical recovery for Yttrium is a positive indicator, though the scoping-level nature of the test work suggests further optimization is needed.
Positive factors
- Explicitly reported recovery for Yttrium
- Hydrometallurgical processing route identified
Negative factors
- Scoping level test work implies higher uncertainty
Evidence · table
“78%”
Context: Y
Tags used in scoring
Byproduct Commodityneutral
The tested commodity is a byproduct rather than the primary economic driver.
Why it applies: the release describes a byproduct credit
hydrometallurgyAshram · lanthanumRecovery: 77 %View all detailsHide details
Identity
- Project
- Ashram
- Commodity
- lanthanum
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Test Work
- Program Status
- scoping
- Test Type
- hydrometallurgy
- Processing Route
- acid bake, water leach, solvent extraction, oxalate precipitation and metathesis
Recovery
- Recovery
- 77 %
- Recovery Basis
- actual_test
- Conc. Grade
- 30
- Conc. Grade Unit
- % REO
Lab
- Laboratory
- UVR-FIA GmbH, Université Laval, Canmet MINING, Hazen Research Inc., SGS Canada, L3 Process Development
- Consultant
- L3 Process Development
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The reported hydrometallurgical recovery for Lanthanum is a positive indicator, though the scoping-level nature of the test work suggests further optimization is needed.
Positive factors
- Explicitly reported recovery for Lanthanum
- Hydrometallurgical processing route identified
Negative factors
- Scoping level test work implies higher uncertainty
Evidence · table
“77%”
Context: La
Tags used in scoring
Byproduct Commodityneutral
The tested commodity is a byproduct rather than the primary economic driver.
Why it applies: the release describes a byproduct credit
hydrometallurgyAshram · ceriumRecovery: 83 %View all detailsHide details
Identity
- Project
- Ashram
- Commodity
- cerium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Test Work
- Program Status
- scoping
- Test Type
- hydrometallurgy
- Processing Route
- acid bake, water leach, solvent extraction, oxalate precipitation and metathesis
Recovery
- Recovery
- 83 %
- Recovery Basis
- actual_test
- Conc. Grade
- 30
- Conc. Grade Unit
- % REO
Lab
- Laboratory
- UVR-FIA GmbH, Université Laval, Canmet MINING, Hazen Research Inc., SGS Canada, L3 Process Development
- Consultant
- L3 Process Development
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The reported hydrometallurgical recovery for Cerium is a positive indicator, though the scoping-level nature of the test work suggests further optimization is needed.
Positive factors
- Explicitly reported recovery for Cerium
- Hydrometallurgical processing route identified
Negative factors
- Scoping level test work implies higher uncertainty
Evidence · table
“83%”
Context: Ce
Tags used in scoring
Byproduct Commodityneutral
The tested commodity is a byproduct rather than the primary economic driver.
Why it applies: the release describes a byproduct credit
hydrometallurgyAshram · praseodymiumRecovery: 91 %View all detailsHide details
Identity
- Project
- Ashram
- Commodity
- praseodymium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Test Work
- Program Status
- scoping
- Test Type
- hydrometallurgy
- Processing Route
- acid bake, water leach, solvent extraction, oxalate precipitation and metathesis
Recovery
- Recovery
- 91 %
- Recovery Basis
- actual_test
- Conc. Grade
- 30
- Conc. Grade Unit
- % REO
Lab
- Laboratory
- UVR-FIA GmbH, Université Laval, Canmet MINING, Hazen Research Inc., SGS Canada, L3 Process Development
- Consultant
- L3 Process Development
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The high reported hydrometallurgical recovery for Praseodymium is a strong positive, indicating good potential for extracting this valuable magnet rare earth, though the scoping-level nature of the test work suggests further optimization is needed.
Positive factors
- High reported recovery for Praseodymium, a valuable magnet rare earth
- Hydrometallurgical processing route identified
Negative factors
- Scoping level test work implies higher uncertainty
Evidence · table
“91%”
Context: Pr
Tags used in scoring
Byproduct Commodityneutral
The tested commodity is a byproduct rather than the primary economic driver.
Why it applies: the release describes a byproduct credit
hydrometallurgyAshram · neodymiumRecovery: 91 %View all detailsHide details
Identity
- Project
- Ashram
- Commodity
- neodymium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Test Work
- Program Status
- scoping
- Test Type
- hydrometallurgy
- Processing Route
- acid bake, water leach, solvent extraction, oxalate precipitation and metathesis
Recovery
- Recovery
- 91 %
- Recovery Basis
- actual_test
- Conc. Grade
- 30
- Conc. Grade Unit
- % REO
Lab
- Laboratory
- UVR-FIA GmbH, Université Laval, Canmet MINING, Hazen Research Inc., SGS Canada, L3 Process Development
- Consultant
- L3 Process Development
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The high reported hydrometallurgical recovery for Neodymium is a strong positive, indicating good potential for extracting this highly valuable magnet rare earth, though the scoping-level nature of the test work suggests further optimization is needed.
Positive factors
- High reported recovery for Neodymium, a highly valuable magnet rare earth
- Hydrometallurgical processing route identified
Negative factors
- Scoping level test work implies higher uncertainty
Evidence · table
“91%”
Context: Nd
Tags used in scoring
Byproduct Commodityneutral
The tested commodity is a byproduct rather than the primary economic driver.
Why it applies: the release describes a byproduct credit
hydrometallurgyAshram · samariumRecovery: 84 %View all detailsHide details
Identity
- Project
- Ashram
- Commodity
- samarium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Test Work
- Program Status
- scoping
- Test Type
- hydrometallurgy
- Processing Route
- acid bake, water leach, solvent extraction, oxalate precipitation and metathesis
Recovery
- Recovery
- 84 %
- Recovery Basis
- actual_test
- Conc. Grade
- 30
- Conc. Grade Unit
- % REO
Lab
- Laboratory
- UVR-FIA GmbH, Université Laval, Canmet MINING, Hazen Research Inc., SGS Canada, L3 Process Development
- Consultant
- L3 Process Development
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The reported hydrometallurgical recovery for Samarium is a positive indicator, though the scoping-level nature of the test work suggests further optimization is needed.
Positive factors
- Explicitly reported recovery for Samarium
- Hydrometallurgical processing route identified
Negative factors
- Scoping level test work implies higher uncertainty
Evidence · table
“84%”
Context: Sm
Tags used in scoring
Byproduct Commodityneutral
The tested commodity is a byproduct rather than the primary economic driver.
Why it applies: the release describes a byproduct credit
hydrometallurgyAshram · europiumRecovery: 84 %View all detailsHide details
Identity
- Project
- Ashram
- Commodity
- europium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Test Work
- Program Status
- scoping
- Test Type
- hydrometallurgy
- Processing Route
- acid bake, water leach, solvent extraction, oxalate precipitation and metathesis
Recovery
- Recovery
- 84 %
- Recovery Basis
- actual_test
- Conc. Grade
- 30
- Conc. Grade Unit
- % REO
Lab
- Laboratory
- UVR-FIA GmbH, Université Laval, Canmet MINING, Hazen Research Inc., SGS Canada, L3 Process Development
- Consultant
- L3 Process Development
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The reported hydrometallurgical recovery for Europium is a positive indicator, though the scoping-level nature of the test work suggests further optimization is needed.
Positive factors
- Explicitly reported recovery for Europium
- Hydrometallurgical processing route identified
Negative factors
- Scoping level test work implies higher uncertainty
Evidence · table
“84%”
Context: Eu
Tags used in scoring
Byproduct Commodityneutral
The tested commodity is a byproduct rather than the primary economic driver.
Why it applies: the release describes a byproduct credit
hydrometallurgyAshram · gadoliniumRecovery: 84 %View all detailsHide details
Identity
- Project
- Ashram
- Commodity
- gadolinium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Test Work
- Program Status
- scoping
- Test Type
- hydrometallurgy
- Processing Route
- acid bake, water leach, solvent extraction, oxalate precipitation and metathesis
Recovery
- Recovery
- 84 %
- Recovery Basis
- actual_test
- Conc. Grade
- 30
- Conc. Grade Unit
- % REO
Lab
- Laboratory
- UVR-FIA GmbH, Université Laval, Canmet MINING, Hazen Research Inc., SGS Canada, L3 Process Development
- Consultant
- L3 Process Development
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The reported hydrometallurgical recovery for Gadolinium is a positive indicator, though the scoping-level nature of the test work suggests further optimization is needed.
Positive factors
- Explicitly reported recovery for Gadolinium
- Hydrometallurgical processing route identified
Negative factors
- Scoping level test work implies higher uncertainty
Evidence · table
“84%”
Context: Gd
Tags used in scoring
Byproduct Commodityneutral
The tested commodity is a byproduct rather than the primary economic driver.
Why it applies: the release describes a byproduct credit
hydrometallurgyAshram · terbiumRecovery: 78 %View all detailsHide details
Identity
- Project
- Ashram
- Commodity
- terbium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Test Work
- Program Status
- scoping
- Test Type
- hydrometallurgy
- Processing Route
- acid bake, water leach, solvent extraction, oxalate precipitation and metathesis
Recovery
- Recovery
- 78 %
- Recovery Basis
- actual_test
- Conc. Grade
- 30
- Conc. Grade Unit
- % REO
Lab
- Laboratory
- UVR-FIA GmbH, Université Laval, Canmet MINING, Hazen Research Inc., SGS Canada, L3 Process Development
- Consultant
- L3 Process Development
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The reported hydrometallurgical recovery for Terbium is a positive indicator for this critical heavy rare earth, though the scoping-level nature of the test work suggests further optimization is needed.
Positive factors
- Explicitly reported recovery for Terbium, a critical heavy rare earth
- Hydrometallurgical processing route identified
Negative factors
- Scoping level test work implies higher uncertainty
Evidence · table
“78%”
Context: Tb
Tags used in scoring
Byproduct Commodityneutral
The tested commodity is a byproduct rather than the primary economic driver.
Why it applies: the release describes a byproduct credit
hydrometallurgyAshram · dysprosiumRecovery: 78 %View all detailsHide details
Identity
- Project
- Ashram
- Commodity
- dysprosium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Test Work
- Program Status
- scoping
- Test Type
- hydrometallurgy
- Processing Route
- acid bake, water leach, solvent extraction, oxalate precipitation and metathesis
Recovery
- Recovery
- 78 %
- Recovery Basis
- actual_test
- Conc. Grade
- 30
- Conc. Grade Unit
- % REO
Lab
- Laboratory
- UVR-FIA GmbH, Université Laval, Canmet MINING, Hazen Research Inc., SGS Canada, L3 Process Development
- Consultant
- L3 Process Development
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The reported hydrometallurgical recovery for Dysprosium is a positive indicator for this critical heavy rare earth, though the scoping-level nature of the test work suggests further optimization is needed.
Positive factors
- Explicitly reported recovery for Dysprosium, a critical heavy rare earth
- Hydrometallurgical processing route identified
Negative factors
- Scoping level test work implies higher uncertainty
Evidence · table
“78%”
Context: Dy
Tags used in scoring
Byproduct Commodityneutral
The tested commodity is a byproduct rather than the primary economic driver.
Why it applies: the release describes a byproduct credit
hydrometallurgyAshram · holmiumRecovery: 78 %View all detailsHide details
Identity
- Project
- Ashram
- Commodity
- holmium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Test Work
- Program Status
- scoping
- Test Type
- hydrometallurgy
- Processing Route
- acid bake, water leach, solvent extraction, oxalate precipitation and metathesis
Recovery
- Recovery
- 78 %
- Recovery Basis
- actual_test
- Conc. Grade
- 30
- Conc. Grade Unit
- % REO
Lab
- Laboratory
- UVR-FIA GmbH, Université Laval, Canmet MINING, Hazen Research Inc., SGS Canada, L3 Process Development
- Consultant
- L3 Process Development
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The reported hydrometallurgical recovery for Holmium is a positive indicator, though the scoping-level nature of the test work suggests further optimization is needed.
Positive factors
- Explicitly reported recovery for Holmium
- Hydrometallurgical processing route identified
Negative factors
- Scoping level test work implies higher uncertainty
Evidence · table
“78%”
Context: Ho
Tags used in scoring
Byproduct Commodityneutral
The tested commodity is a byproduct rather than the primary economic driver.
Why it applies: the release describes a byproduct credit
hydrometallurgyAshram · erbiumRecovery: 78 %View all detailsHide details
Identity
- Project
- Ashram
- Commodity
- erbium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Test Work
- Program Status
- scoping
- Test Type
- hydrometallurgy
- Processing Route
- acid bake, water leach, solvent extraction, oxalate precipitation and metathesis
Recovery
- Recovery
- 78 %
- Recovery Basis
- actual_test
- Conc. Grade
- 30
- Conc. Grade Unit
- % REO
Lab
- Laboratory
- UVR-FIA GmbH, Université Laval, Canmet MINING, Hazen Research Inc., SGS Canada, L3 Process Development
- Consultant
- L3 Process Development
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The reported hydrometallurgical recovery for Erbium is a positive indicator, though the scoping-level nature of the test work suggests further optimization is needed.
Positive factors
- Explicitly reported recovery for Erbium
- Hydrometallurgical processing route identified
Negative factors
- Scoping level test work implies higher uncertainty
Evidence · table
“78%”
Context: Er
Tags used in scoring
Byproduct Commodityneutral
The tested commodity is a byproduct rather than the primary economic driver.
Why it applies: the release describes a byproduct credit
hydrometallurgyAshram · thuliumRecovery: 78 %View all detailsHide details
Identity
- Project
- Ashram
- Commodity
- thulium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Test Work
- Program Status
- scoping
- Test Type
- hydrometallurgy
- Processing Route
- acid bake, water leach, solvent extraction, oxalate precipitation and metathesis
Recovery
- Recovery
- 78 %
- Recovery Basis
- actual_test
- Conc. Grade
- 30
- Conc. Grade Unit
- % REO
Lab
- Laboratory
- UVR-FIA GmbH, Université Laval, Canmet MINING, Hazen Research Inc., SGS Canada, L3 Process Development
- Consultant
- L3 Process Development
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The reported hydrometallurgical recovery for Thulium is a positive indicator, though the scoping-level nature of the test work suggests further optimization is needed.
Positive factors
- Explicitly reported recovery for Thulium
- Hydrometallurgical processing route identified
Negative factors
- Scoping level test work implies higher uncertainty
Evidence · table
“78%”
Context: Tm
Tags used in scoring
Byproduct Commodityneutral
The tested commodity is a byproduct rather than the primary economic driver.
Why it applies: the release describes a byproduct credit
hydrometallurgyAshram · ytterbiumRecovery: 78 %View all detailsHide details
Identity
- Project
- Ashram
- Commodity
- ytterbium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Test Work
- Program Status
- scoping
- Test Type
- hydrometallurgy
- Processing Route
- acid bake, water leach, solvent extraction, oxalate precipitation and metathesis
Recovery
- Recovery
- 78 %
- Recovery Basis
- actual_test
- Conc. Grade
- 30
- Conc. Grade Unit
- % REO
Lab
- Laboratory
- UVR-FIA GmbH, Université Laval, Canmet MINING, Hazen Research Inc., SGS Canada, L3 Process Development
- Consultant
- L3 Process Development
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The reported hydrometallurgical recovery for Ytterbium is a positive indicator, though the scoping-level nature of the test work suggests further optimization is needed.
Positive factors
- Explicitly reported recovery for Ytterbium
- Hydrometallurgical processing route identified
Negative factors
- Scoping level test work implies higher uncertainty
Evidence · table
“78%”
Context: Yb
Tags used in scoring
Byproduct Commodityneutral
The tested commodity is a byproduct rather than the primary economic driver.
Why it applies: the release describes a byproduct credit
hydrometallurgyAshram · lutetiumRecovery: 78 %View all detailsHide details
Identity
- Project
- Ashram
- Commodity
- lutetium
- Region
- canada_qc
- Reported Region
- Nunavik, Québec, Canada
- Ticker
- MRZL
Test Work
- Program Status
- scoping
- Test Type
- hydrometallurgy
- Processing Route
- acid bake, water leach, solvent extraction, oxalate precipitation and metathesis
Recovery
- Recovery
- 78 %
- Recovery Basis
- actual_test
- Conc. Grade
- 30
- Conc. Grade Unit
- % REO
Lab
- Laboratory
- UVR-FIA GmbH, Université Laval, Canmet MINING, Hazen Research Inc., SGS Canada, L3 Process Development
- Consultant
- L3 Process Development
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-09T00:00:00.000Z
Reasoning: The reported hydrometallurgical recovery for Lutetium is a positive indicator, though the scoping-level nature of the test work suggests further optimization is needed.
Positive factors
- Explicitly reported recovery for Lutetium
- Hydrometallurgical processing route identified
Negative factors
- Scoping level test work implies higher uncertainty
Evidence · table
“78%”
Context: Lu
Tags used in scoring
Byproduct Commodityneutral
The tested commodity is a byproduct rather than the primary economic driver.
Why it applies: the release describes a byproduct credit
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.