Mont Royal Highlights Large Fluorspar Resource at Ashram Amid Rising Market Demand

Ashram Emerges as Major Fluorspar Player

Mont Royal Resources Ltd (ASX:MRZ) has spotlighted the significant fluorspar potential embedded within its Ashram Rare Earth and Fluorspar Project in Quebec, positioning the deposit as one of the largest fluorspar resources reported on the ASX and TSX Venture Exchange. The company’s Mineral Resource Estimate (MRE) includes 73.2 million tonnes at 6.6% CaF2 in the Indicated category and a further 131.1 million tonnes at 4.0% CaF2 inferred, underscoring a substantial byproduct opportunity alongside rare earth elements.

Historical metallurgical test work conducted in 2020 by Hazen Research demonstrated the ability to upgrade the Ashram fluorspar to a 98% CaF2 acid-spar concentrate, exceeding the industry’s 97% purity benchmark for acid-spar grade. This high-grade concentrate is critical for hydrofluoric acid production, a key input for pharmaceuticals, semiconductors, and aluminium smelting.

Market Dynamics Bolster Fluorspar Prospects

Fluorspar’s status as a critical mineral in Canada, the United States, and Europe amplifies its strategic value amid tightening supply chains. Mont Royal’s Managing Director Nicholas Holthouse highlighted that China, historically the world’s largest fluorspar producer and exporter, has transitioned to a net importer due to mine closures and environmental regulations. This pivot has squeezed global inventories outside China, enhancing pricing power for producers in geopolitically stable regions such as Quebec.

Benchmark prices for acid-spar fluorspar currently range between US$540 and US$680 per tonne on a CIF basis, reflecting robust demand from energy transition sectors and high-technology applications. The Quebec aluminium industry alone consumes approximately 150,000 to 200,000 tonnes of CaF2 annually, providing a nearby industrial market for Ashram’s fluorspar output.

Advancing Fluorspar Integration in Project Development

Mont Royal plans to expand metallurgical test work to optimise fluorspar recovery and evaluate the integration of a dedicated fluorspar circuit within its upcoming Pre-Feasibility Study (PFS). This approach aims to unlock a valuable secondary revenue stream, complementing rare earth element production and potentially improving project economics.

The company’s fluorspar strategy builds on a series of recent developments, including an impending updated PEA and strategic partnerships to enhance logistics and processing infrastructure, such as the non-binding MOU with the Saguenay Port Authority. These moves reflect a broader effort to position Ashram as a critical supplier to North American and European markets. The flotation and metallurgical work also ties into Mont Royal’s ongoing efforts to refine processing flowsheets, as outlined in earlier test work updates and capital raises to advance the project’s development phase.

Technical and Resource Consistency

The fluorspar mineralisation is consistent across the Ashram deposit’s geological domains, co-hosted with rare earth elements in monazite-rich carbonatite zones. The resource is reported at a cut-off based on net metal return, with no new drilling results disclosed but relying on previously reported data and test work. The historical test work utilized physical separation and magnetic processing techniques to achieve the high-purity concentrate, indicating standard beneficiation methods are effective for this deposit.

Mont Royal’s fluorspar ambitions align with a growing recognition of the mineral’s criticality and the evolving global supply landscape. The company’s next steps will be closely watched as the PFS progresses and further metallurgical results emerge, potentially confirming Ashram’s role as a dual rare earth and fluorspar supplier.