Significant Drill Campaign Focused On Increasing Indicated Resource Base At Rare Earth Project
Ionic Rare Earths Limited (ASX: IXR) is preparing to commence the proposed next phase of drilling at its 51% owned Makuutu Rare Earths Project
The drill programme will aim at increasing the Inferred Resources on RL 1693 to an Indicated Resource category, plus also converting RL 1693 Exploration Targets to classified resources.
The company’s Mineral Resource Estimate was estimated at 315 Million tonnes at 650 ppm Total Rare Earth Oxide (TREO) with a cut-off grade of 200 parts per million (ppm) TREO minus Cerium Oxide (CeO2).
Makuutu ranks amongst the world’s largest ionic adsorption clay (IAC) deposits, and as such, a globally strategic resource for low-cost, high-margin and long-term security of critical and heavy rare earth (HREO) supply.
A recently announced Makuutu Rare Earths Scoping Study was based upon a Production Target which was primarily supported by the Project’s Indicated Resource which reflected only circa 27% of the total Mineral Resource Estimate. This infill drill program is primarily to increase the Indicated Resource base to support future studies at Makuutu, including the Bankable Feasibility Study (BFS).
Drilling is planned to commence shortly, with the first rig secured. A second rig is being organised to arrive approximately a fortnight later to expedite the initial allocation of infill drilling.
Ionic will prioritise infill drilling to areas immediately adjacent to the existing Indicated Resource area, Central Zone East (CEZ) Inferred, CEZ Unclassified Exploration Target, Central Main Zone Inferred, plus areas F, G and H.
The zones represent the highest identified Total Rare Earth Oxide (TREO) grade Inferred and Exploration Target mineralisation at Makuutu.
The company recently completed a1200m Rotary Air Blast (RAB) Phase 3 drill programme, which included reconnaissance exploration drilling only.
The 37-km-long sedimentary basin that hosts the Makuutu REE mineralisation has been interpreted from aeromagnetic and gravity data. Drilling to date has focused exclusively on eU/eTh radiometric anomalies interpreted to be derived from the laterite hardcap within the basin. There has not been any testing of radiometric anomalies outside the sedimentary basin or from zones within the basin that do not show this type of radiometric response. These untested targets were the focus of the RAB drilling on licences RL00007, RL1693 and EL1766.
EL00147, covers an extensive radiometric response similar to, and continuing from, EL1766. Resource Area I within EL1766, immediately west of EL00147, is estimated to contain 96 Million tonnes at 550ppm TREO which also showed zones of elevated HREO particularly on the northern margin.
