Ionic Rare Earths Limited (ASX: IXR) has progressed its 60% owned Makuutu Heavy Rare Earths Project, Uganda.
The Phase 5 rotary air blast (RAB) Tranche 2 assays have been received from the exploration licence 00257 and retention licence 00007, reporting clay-hosted rare earth intersections in 26 of 31 drill holes, including:
- 8m at 975 ppm TREO from 7m in RRMRB117
- 20m at 865 ppm TREO from 6m in RRMRB115
- 20m at 789 ppm TREO from 4m in RRMRB116
- 24m at 781 ppm TREO from 4m in RRMRB129
- 20m at 756 ppm TREO from 4m in RRMRB120
IonicRE’s managing director, Mr. Tim Harrison, said, “EL00257 has now confirmed clay-hosted rare earth mineralization in 21 of 26 RAB holes drilled in this programme.”
“Our focus on the delivery of the Makuutu Heavy Rare Earths Project in Uganda positions us to provide a secure, sustainable, and traceable supply of magnet rare earth oxides. Along with our Belfast recycling facility, Makuutu is key to us harnessing our technology to accelerate mining, refining, and recycling of magnets and heavy rare earths that are critical for the energy transition, advanced manufacturing, and defence.” Mr. Harrison said.
Metallurgical test work initiated on RAB samples from the drill programme feed into the company’s revised Makuutu exploration target expected late 2023. The company has stated that Makuutu’s basket contains 71% magnet and heavy rare earths content, and is one of the most advanced heavy rare earth projects globally available as a source for new supply chains emerging across Europe, the US, and Asia.
Additionally, IonicRE is continuing infill drilling at its retention licence that is aiming to increase its resource classification to indicated resource, with 103 holes completed to date.
To find out more, please visit www.ionic.com.au
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