Ionic Rare Earths Limited (ASX: IXR) has progressed its 60% owned Makuutu Heavy Rare Earths Project, Uganda.
Managing director, Mr. Tim Harrison, said, “EL00147 has now confirmed clay-hosted REE in 66 of 70 RAB holes drilled across programmes in 2021 and 2023, on a broad 500m spacing, which highlights the massive potential of this exploration target. These results confirm the significance of Makuutu as a strategic asset with an expanding IAC deposit. This potential to expand the Makuutu resource further to the east means we expect the scale of the project to substantially increase in the future, with these new assays inferring considerable upside at Makuutu.”
A total of 45 holes were drilled with 43 recording intervals of regolith hosted rare earth mineralization above the 2022 mineral resource estimate (MRE) cut-off grade of 200ppm TREO-CeO2.
The Phase 5 RAB Tranche 1 assay results further validate the massive potential of EL00147 by having identified some of the highest-grade intervals drilled at this exploration target.
Results include:
- 3m at 1,337ppm TREO from 13m in RRMRB083
- 10m at 1,029ppm TREO from 5m in RRMRB079
- 11m at 1,013ppm TREO from 6m in RRMRB105
- 7m at 974ppm TREO from 6m in RRMRB078
- 24m at 967ppm TREO from 4m in RRMRB086
“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 our mining, refining, and recycling of magnets and heavy rare earths which are critical for the energy transition, advanced manufacturing, and defense,” Mr. Harrison said.
Further work planned on these areas includes metallurgical test work to determine potential rare earth extractions, and core drilling to progress to a resource estimate.
To find out more please visit www.ionicre.com.au
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