Ionic Rare Earths Limited (ASX: IXR) has received a positive response to an application for a new exploration permit in Uganda.
The Ugandan Directorate of Geological Survey and Mines (DGSM) has advised the company’s 51% owned Ugandan subsidiary Rwenzori Rare Metals Limited (RRM) that the application for Exploration Licence 00257, located adjacent and to the northwest of the Makuutu Mineral Resource Estimate (MRE), has been granted for the Makuutu Rare Earths Project.
Drilling earlier this year, as part of the Phase 3 Rotary Air Blast (RAB) drill programme, reported assay results showing thick clay intervals more than two kilometres north and west of the basin margin.
The rare earth element (REE) mineralised intercepts reported in this area may present an opportunity for further REE mineralisation to exist to the northwest, and outside of the current basin margin trend.
Given the significance of those results, the company applied for the new 56 square kilometre EL. EL00257, has been granted for three years and will provide the company with additional new greenfield exploration potential at Makuutu.
The addition of EL00257 now increases the total tenement area of Makuutu to approximately 300 square kilometres.
For further information please visit: https://ionicre.com.au/
