The Assay TV spoke to Tim Harrison, CEO at Ionic Rare Earths (ASX:IXR).
Makuutu Rare Earths Project – a Long Life, Low Cost and High Value Critical and Heavy Rare Earths Project.
Ionic Rare Earths Limited (ASX: IXR), is developing the Makuutu Rare Earths Project in Uganda. Makuutu is an ionic adsorption clay (IAC) deposit, a deposit type prevalent in southern China, and widely known as the cheapest and most readily accessible source of critical and heavy Rare Earth Oxides (CREO / HREO) which are extracted through very low cost, simple mining and processing methods. IAC deposits are rare outside of southern China; highlighting the importance of Makuutu, which represents one of the largest IAC deposits in the world, with the mineralisation corridor stretching up to 37 km in length.
Ionic Rare Earths is planning the development of Makuutu to deliver high ESG standards. The Company is presently working through an evaluation and development program. The Project presents an option for modular increments in production capacity to ramp up production using free cash flow. The initial capital investment is very modest and subsequent additional modules are a fraction of the initial capital. Additionally the Project is highly prospective for a scandium co-product, which forecasts Makuutu to be one of the lowest cost REO mines in the world once co-product credits are considered. The positive attributes further differentiates Makuutu as without peer in the rare earths industry.
The Makuutu Rare Earths Project has just completed an internal Preliminary Economic Assessment (PEA) and will complete an updated Scoping Study in Q1 2021. The Company has initiated both Bankable Feasibility Study and Environmental and Social Impact Assessment to be completed within 2 years. The Project has recently completed a drill program which will see a substantial increase in the Mineral Resource Estimate due for Q1 2021, and additional exploration ground has been applied for which will position Makuutu as one of, if not the world’s largest IAC deposit not controlled by Chinese interests.
We would welcome discussion on the development of Makuutu to fill the pending worldwide shortage in critical and heavy rare earths. Makuutu is truly unique and without peer.
Website: http://www.ionicre.com.au
Primary ticker: ASX:IXR
Stage of development: Exploration, Development
Commodity: Rare Earths – Critical and Heavy
Project to promote: Makuutu Rare Earths Project
Project location: Uganda
