Mont Royal Files Ashram PEA with 204Mt TREO Resource
Mont Royal Resources updated its Ashram rare earths PEA in June 2026, confirming a 204.3Mt resource and targeting 35% concentrate grade.
Key points
- Mont Royal filed a June 2026 PEA for the 204.3Mt Ashram deposit, grading 1.90% TREO and 4.9% calcium fluoride.
- The company targets a monazite concentrate exceeding 35% TREO and identified high-grade fluorspar at the Mallard prospect.
- Mont Royal holds a 75% stake in the 536-square-kilometer Northern Lights project, targeting lithium, gold, and copper.
Mont Royal Resources filed an updated Preliminary Economic Assessment for its Ashram project in June 2026. The deposit is located in Nunavik, Quebec, and holds a 204.3 million tonne resource. The company maintains dual listings on the ASX and TSX Venture Exchange.
This update follows a corporate transaction with Commerce Resources Corp. The firm focuses on rare earth elements and fluorspar. It also holds a 75% stake in the Northern Lights lithium and base metals project in James Bay.
Ashram Resource Estimate Details
The Ashram deposit contains 204.3 million tonnes of material. The grade is 1.90% Total Rare Earth Oxides. It also includes 4.9% calcium fluoride. This makes it one of North America’s largest monazite-rich deposits.
Mont Royal is 100% owner of the site. It sits 130 kilometers south of Kuujjuaq. The resource estimate covers Measured, Indicated, and Inferred categories. The deposit hosts significant fluorspar alongside rare earths.
Technical Progress and Targets
The company appointed engineers to optimize flotation circuits. The goal is a monazite concentrate exceeding 35% TREO. Technical evaluations also identified high-grade fluorspar at the Mallard prospect. This offers a potential secondary product stream.
Mont Royal was accepted into the US Defence Industrial Base Consortium. This aligns with allied supply chain goals. The firm received C$2.22 million from Quebec tax credits. This funds ongoing technical studies and development work.
Portfolio Expansion and Context
The Northern Lights project spans 536 square kilometers in James Bay. Surface sampling returned anomalous lithium, gold, and copper values. This diversifies the company’s critical minerals portfolio. It adds base metals to the rare earth focus.
Rare earths are essential for electric vehicle motors and wind turbines. Fluorspar is critical for battery electrolytes and chemical manufacturing. Global policy now emphasizes domestic processing and supply chain diversification. This supports the strategic value of these assets.
