Mont Royal Resources Limited has signed a Joint Study Agreement with Alta Resource Technologies to evaluate the application of engineered protein-based technology for processing mixed rare earth carbonate feedstock from the Ashram Rare Earth and Fluorspar Project in Quebec, Canada, into separated, high-purity rare earth oxides.

The agreement establishes a framework to assess a technical pathway for downstream rare earth separation, evaluate the potential for a commercial refining facility, and explore a longer-term partnership supporting a North American supply chain for permanent magnets and advanced technologies. Alta’s separation platform uses engineered proteins designed to bind selectively to target metal ions, offering a modular approach intended to achieve high purity and yield without conventional bulk industrial chemistry.

The Ashram project in Nunavik, Quebec, is 100%-owned by Mont Royal and represents one of the largest undeveloped rare earth deposits in North America, backed by over A$50 million in historical investment. The company is advancing the asset toward a Pre-Feasibility Study over the balance of 2026, following the completion of its Preliminary Economic Assessment in June 2026. While that earlier study focused on project economics and mixed rare earth carbonate production, the new joint study evaluates taking that intermediate product further downstream to produce separated oxides locally.

“We are pleased to be working with Alta on this next step in the development pathway for the Ashram Project, as we assess opportunities to capture more of the value contained within the Ashram Resource. Our current focus on producing a mixed rare earth carbonate remains a practical and lower-risk development strategy for the Ashram Project. However, the ability to take that product further downstream and potentially produce separated, high-purity rare earth oxides in North America represents a significant opportunity for Mont Royal.”

“Working with Alta brings an innovative separation technology and specialist expertise which could provide a pathway for us to achieve that without Mont Royal having to develop the capability independently. Importantly, this also aligns with the growing strategic focus in Canada and the United States on establishing secure Western supply chains for rare earth elements required for permanent magnets, defence and advanced technologies.”
— Nicholas Holthouse, Managing Director

The ongoing evaluations and upcoming study milestones form part of Mont Royal’s broader operational roadmap as it advances the Nunavik asset through subsequent engineering phases.

Read the full announcement: MRZ to Assess Pathway to Produce High-Purity Separated REO